Global Smart Manufacturing Market was valued US$186.45 Bn in 2019 and is expected to reach US$
XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders,
followers, and disrupters. Since lock down was implemented differently in different regions and countries,
impact of same is also different by regions and segments. The report has covered the current short term
and long term impact on the market, same will help decision makers to prepare the outline for short term
and long term strategies for companies by region.
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Major factors driving the growth of the smart manufacturing market include Industry 4.0, rising use of
industrial automation in manufacturing, government investments supporting industrial automation,
increasing emphasis on regulatory compliances, increased complexities in the supply chain, and growing
demand for software systems that reduce time and cost. Industrial communication is anticipated to hold
the XX% share of the smart manufacturing market for information technology. However, threats related to
cybersecurity, complexities in implementing smart manufacturing systems, lack of awareness about
benefits of adopting information and enabling technologies, and lack of skilled workforce pose challenges
to the growth of the market.
The global smart manufacturing market is segmented into a component, technology, end-user, and
region. In terms of component, the smart manufacturing market is segmented into hardware, software,
and services. Based on technology, the smart manufacturing market is segmented into machine
execution systems, programmable logic controller, enterprise resource planning, SCADA, discrete control
systems, human-machine interface, machine vision, 3d printing, product lifecycle management, and plant
asset management. On the basis of end-user, the smart manufacturing market is segmented into