Smart Manufacturing Market

The global smart manufacturing market is expected to be USD 233.33 billion in 2024 and is projected to reach USD 479.17 billion by 2029; it is expected to register a CAGR of 15.5% during the forecast period. Increasing demand for innovative technologies to minimize manufacturing downtime & production and rising emphasis on boosting manufacturing efficiency through automated production are attributed to the ever-increasing demand for smart manufacturing systems. 

3D System, Inc. (US), ABB (Switzerland), Cisco System, Inc. (US), Emerson Electric Co. (US), General Electric (US), Honeywell International Inc. (US), IBM (US), Mitsubishi Electric Corporation (Japan), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Oracle (US), SAP (Germany), Stratasys (US), Yokogawa Electric Corporation(Japan) are some of the key players in the smart manufacturing market.

To know about the assumptions considered for the study download the pdf brochure

Major Smart Manufacturing companies include:

• 3D Systems, Inc. (US)
• ABB (Switzerland)
• Cisco Systems, Inc. (US)
• Emerson Electric Co. (US)
• General Electric (US)
• Honeywell International Inc. (US)
• IBM (US)

 ABB

The ABB Group was formed in 1988 through the merger of Asea AB, a Swedish company instrumental in Sweden's electrification and rail development, with BBC Brown Boveri AG, a Swiss company engaged in power generation and electrical engineering. In 1999, the consolidated ABB in Switzerland became the parent of the whole ABB Group with one corporate structure while simplifying ownership. There are four major business segments the company uses to carry on its activities: Electrification, Motion, Process Automation, and Robotics & Discrete Automation. ABB provides collaborative production management with its EMI software, Ellipse Select. The company further provides scalable and Modular ISA95-based solutions with MES functionality. In addition, ABB offers several PAM solutions, such as System 800xA Asset Management, Asset Master and AssetVista. Its robotics solutions are used in several industries in applications involving welding, material handling, painting, picking, packing and palletizing. ABB also provides collaborative robots in its business area Robotics & Discrete Automation.

Cisco Systems, Inc.

The Cisco Systems, Inc. company was founded back in 1984 and is headquartered in San Jose, California.. This company boasts a rather lengthy list of innovation through the variation of its products- from the most current solutions of hardware when it comes to the network domain of routing and switching to powerful cybersecurity systems, collaborative Webex tools, advanced data center and cloud computing solutions. The company passes through a number of its key business segments: Infrastructure Platforms, which Applications, Collaboration, and security of its networking and data center solutions software; Security, focusing on full security cybersecurity solutions; and Services. Technical support, consultancy, and managed services.

Cisco Systems, Inc. is heavily invested in R&D with the aim of taking the best opportunities of innovation available and applying this towards moving through development over and above the curve. Cisco Systems, Inc. invests in latest technological developments continuously incorporating new technologies in the ends of networking, cybersecurity, cloud computing, and artificial intelligence. With its presence in over 100 countries, Cisco Systems, Inc. designs its solutions according to regional market needs. Subsidiaries, partners, and distributors facilitate its operations across the Americas, Europe, Middle East, and Africa, and Asia Pacific.

Emerson Electric Co.

Emerson Electric Co is one of the global leaders in engineering and technology; it now offers state-of-the-art solutions across many industries. Since its founding back in 1890, Emerson has been specialized in high-quality products and advanced technologies, using them to maintain constant progress in industrial transformation and productivity. The company is known for automation, including those consisting of industrial control systems, measurement instrumentation, and software analytics, which enable businesses to optimize their operations.

The company opeartyes through 6 business segments: Final Control, Measurement & Analytical, Discrete Automation, Safety & Productivity, Control System & Software and Aspentech. The company operates in more than 150 countries with extensive presence in major geographic areas like North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. This vast worldwide presence is supported by a focused workforce of approximately 67,000 people who work hard to develop unique and creative solutions for customers worldwide. Its diverse portfolio of products and services for industries such as oil and gas, chemical, life sciences, food and beverage, and discrete manufacturing positions Emerson as an indispensable partner in driving industrial innovation and sustainability.

General Electric

General Electric is one of the largest multinational conglomerates in the world. It operates as infrastructure and a financial services firm. The company offers its solution in various solutions of electricity generation, transmission, distribution, control, and usage, aircraft engines, technologies, industrial security technologies, and industrial products. The company also renders business and consumer financing services and operates through four industrial segments named Power, Renewable Energy, Aerospace, and Corporate. On 7 January 2023, General Electric Company disclosed its decision to demerge the business of healthcare by creating a company called GE Healthcare Technologies Inc. Another critical business segment of GE Digital includes industrial automation and management software solutions suite, which also incorporates Predix Platform along with its related products like the APM module, brilliant manufacturing, cybersecurity, HMI, and SCADA. As stated above, the Predix Platform is an edge-to-cloud loT foundation that makes connected equipment collect and analyze real-time data. APM monitors industrial machine performance to manage risks, cut costs, and enhance reliability. It also takes into consideration alarm management for fault detection with real-time monitoring. HMI, SCADA systems including CIMPLICITY, IFIX, and Workflow provide detailed graphical views of operations for monitoring and quick troubleshooting. This segment is independent of the results of the company's industrial operating segment and therefore kept outside the computations for both internal and external performance measurements and intersegment activities.

Honeywell International Inc.

Honeywell International Inc. is a global technology and manufacturing powerhouse that innovates solutions in a wide variety of markets. Honeywell has four operating segments: Aerospace provides advanced products and services for aircraft and spacecraft, from avionics to propulsion systems. Building Technologies is focused on changing the management of buildings with more advanced solutions related to energy efficiency, security, and smart building systems. Performance Materials & Technologies has critical materials and process technologies in the chemicals, refining, and pharmaceutical industries in order to allow progress and innovation. In the last one, Safety and Productivity Solutions offers key equipment and tools from personal protective gear up to sophisticated scanning systems in order to have a better place at work, safety for workers, and operational effciency.

Related Reports:

Smart Manufacturing Market - Edge Computing, Industrial 3D Printing, Robots, Sensor, Machine Vision, Artificial intelligence, Cybersecurity, Digital Twin, Private 5G, AGV, AMR, AR & VR, CAD, CAM, PLM, HMI, IPC, MES, WMS, and ERP - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]