Smart Manufacturing Platform Market worth $13.2 billion by 2026 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 23, 2021 /PRNewswire/ -- According to the new market research report "Smart Manufacturing Platform Market with COVID-19 Impact, by type (Device Management, Connectivity Management, Application Enablement Platform), Application (Performance, Optimization, Asset & Condition Monitoring), Industry, Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Smart Manufacturing Platform Market size is expected to grow from USD 5.8 billion in 2021 to USD 13.2 billion by 2026, at a CAGR of 18.0%. The growth of this market is driven mainly by growth in industrial automation, growing adoption of smart manufacturing platforms in automotive industry, increasing support from governments for industrial automation, and growing need for streamlined and automated data to boost productivity.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=66129711

Discrete industry is estimated to hold the largest growth rate of the smart manufacturing platform market during the forecast period.

The discrete industry includes automotive, industrial manufacturing, electronics & semiconductor, medical device, aerospace & defense, and others. Among these, the automotive industry dominates the smart manufacturing platform market and is expected to grow at the highest rate of 22.1% during the forecast period owing to changing consumer preferences and inefficiency of traditional processes. Changing consumer preferences, technological advancements, and the introduction of regulations associated with the automotive industry are responsible for the high complexity of automobile products.

Smart manufacturing platform for device management platform type to grow at highest CAGR from 2021 to 2026

The emergence of artificial intelligence, IIoT, smart manufacturing, Industry 4.0, digitization, and connected enterprise has influenced various industries to deploy advanced solutions in their plants. As a large amount of data is generated from various devices used in industrial facilities thus, it has become vital to manage the devices and data generated. The device management platform allows to connect and disconnect new devices, control various devices, view details of devices and check their status, and monitor devices remotely.

Browse in-depth TOC on "Smart Manufacturing Platform Market"

177 – Tables
65 – Figures
257 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=66129711

The smart manufacturing platform market in APAC is expected to grow at the highest CAGR from 2021 to 2026

APAC is expected to hold the largest growth rate of the global smart manufacturing platform market during the forecast period. APAC has been showing impressive development in industrialization for the last few years and is at the forefront of the digital revolution from rest of the world. The region can be seen steadily advancing toward the digital future. In APAC, there is a large number of emerging new small- and medium-sized businesses. It is easier for emerging businesses to adopt digitalization. Hence, the rate of digitalization is consistently growing in the region. Countries such as China, Japan, and India have undertaken numerous initiatives to encourage the implementation of IIoT in their domestic industries. Government support for the adoption of automation technologies and rapid industrialization and urbanization are some of the major factors driving the growth of the IIoT market in APAC, which, in turn, is expected to fuel the growth of the smart manufacturing platform market.

Major companies operating in this smart manufacturing platform market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), IBM (US), PTC Inc. (US), SAP SE (Germany), Emerson Electric Co. (US), and GENERAL ELECTRIC (US).

Related Reports: 

Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region - Global Forecast to 2025

Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), Industry, and Geography - Global Forecast to 2024

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/smart-manufacturing-platform-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/smart-manufacturing-platform.asp

SOURCE MarketsandMarkets