The Global Smart Manufacturing Platform Market size is expected to reach $12.2 billion by 2025, rising at a market growth of 19.4% CAGR during the forecast period.
Smart manufacturing Platform Market is a technology based approach that requires Internet enabled device to keep a check on the production process. The ultimate goal of Smart Manufacturing is identifying the chances for automated operations and then use data analytics in improving the manufacturing performance. These smart manufacturing platforms enable the provision for services that supports manufacturing in a broader sense. The services that are enabled by smart manufacturing platforms are linked into the collection, storing, processing and delivering of the data. This data either describes the manufacturing of the product or they are related to the manufacturing processes and assets that help manufacturing such as machine, material, value networks, enterprise without fail factory workers.
Smart Manufacturing Platform Market Size
Increase in implementation of industrial automation and industry 4.0 solutions, which get support from the government of different countries for industrial automation and cumulative need for modernized and auto-generated data to enhance productivity, are driving the growth of the smart manufacturing platform market. However, the absence of skilled IoT workforce and frequent software upgrade are the major factors that restrain the growth of the smart manufacturing platform market.
Smart Manufacturing Platform Market Share
Based on Type, the market is segmented into Device Management, Connectivity Management and Application Enablement Platform. Based on Application, the market is segmented into Performance Optimization and Asset & Condition Monitoring and Others. Based on Deployment Mode, the market is segmented into On Premise and Cloud. Based on End User, the market is segmented into Process Industry and Discrete Industry. Process industry accounts for the major market share during the predicted period. Oil & gas, chemicals, food & beverages, energy & power pharmaceuticals, and metals & mining are amongst a few major processed industries.
KBV Cardinal Matrix
Process Industry is further segmented into Power & Energy, Oil & Gas, Chemicals & Pharmaceuticals, Food & Beverages, Metals & Mining and Others. Discrete Industry is further segmented into Automotive, Industrial Manufacturing, Medical Devices, Electronics & Semiconductor, Aerospace & Defense and Others. The regions included in the report are North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, SAP SE, Amazon.com, Inc., Siemens AG, Accenture Plc., Oracle Corporation, Cisco Systems, Inc., Software AG and Robert Bosch GmbH. Based on the Analysis presented in the Cardinal matrix, IBM Corporation, Siemens AG, Amazon.com, Inc. and Microsoft Corporation are some of the forerunners in the Smart Manufacturing Platform market.
Market Segmentation:
By Type
By Application
By Deployment Mode
By Industry
By Geography
Companies Profiled
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