NEW YORK, July 11, 2016 /PRNewswire/ -- Use this report to:
- Analyze the sizing and segmentation of the smart manufacturing market over the next five years.
- Explore key components of smart manufacturing, driven by the Internet of Things
- Study the markets and applications broken down by region
- Evaluate the economic opportunities for current industry participants and new entrants.
- Assess current industry players, including suppliers of devices, connectivity, and platforms as well as service providers and users related to this market.
- The global market for smart manufacturing should reach $392 billion by 2020 from $159 billion in 2015, a compound annual growth rate (CAGR) of 19.8% from 2015 to 2020.
- The smart manufacturing market in the Asia-Pacific region should reach $151 billion by 2020 from $59 billion in 2015, at a CAGR of 20.7% from 2015 to 2020.
- The smart manufacturing market in the North American region should reach $112 billion by 2020 from $47 billion in 2015, at a CAGR of 19.0% from 2015 to 2020.
Introduction & Scope
In manufacturing, higher-value equipment has been used for some time in closed hardwired network environments. Until now, sensors, programmable logic control (PLC), and PC-based controllers have been largely disconnected from information technology (IT) and operational systems. IT and operational systems are traditionally organized in hierarchical fashion with data silos and are constrained by a huge installed
base of legacy equipment. By connecting machines, a manufacturer can now create intelligent networks along the entire value chain that communicate and control each other autonomously.
The term "smart manufacturing" is often used in combination with the terms "Industrial Internet of Things" (IIoT), "Smart Factory," or "Industry 4.0". These terms underline the same goals: interconnectivity, interdependence, and integration of manufacturing processes that leverage data to deliver more information, leading to greater productivity and less waste.
STUDY GOALS AND OBJECTIVES
The focus of this study is the sizing and segmentation of smart manufacturing over the next five years. The report addresses the key component of smart manufacturing, driven by the Internet of Things, and analyzes the markets and applications by region.
REASONS FOR DOING THE STUDY
Smart manufacturing is expected to bring major progress in operational manufacturing, production flexibility, and productivity. Smart manufacturing is in its early stages, but there is already a significant revenue opportunity with strong growth expected over the next five years. BCC Research has determined that the total market opportunity for smart manufacturing will grow from $131 billion in 2015 to $392 billion in 2020 with a compound annual growth rate (CAGR) close to 20%.
This BCC Research study on smart manufacturing was conducted with a global perspective. Market projections for investments in smart manufacturing were developed for the five major regions with all market table values in 2016 U.S. dollars. The report provides an understanding of the way markets will be affected by smart manufacturing and insight into the new opportunities created by smart manufacturing.
The report contains:
- An in-depth analysis of the technologies used for smart manufacturing.
- Current and future market projections for smart manufacturing by region.
- Current and potential applications for smart manufacturing.
- Current and future market projections for smart manufacturing by industry.
- Profiles of current industry players, including suppliers of devices, connectivity, and platforms as well as service providers and users.
- A review of the economic/market opportunities for current industry participants and new entrants.
This report is targeted towards a broad audience of individuals with business as well as technical backgrounds. This specifically includes:
- Technology professionals such as executives, managers, marketers, and salespeople who are looking to enhance their business knowledge by developing expertise in smart manufacturing.
- Product marketing and management professionals in manufacturing who want to understand the intricacies of smart manufacturing and position themselves
- Marketing and sales professionals in smart manufacturing–related companies who are looking to position their products according to the latest trends in the market.
- Business executives and venture capitalists looking to invest in smart manufacturing–related companies.
- Finance and investment professionals looking to make investment decisions for IoT-related companies.
Market data and information for this report were obtained through both primary and secondary research methodologies. BCC Research conducted interviews with marketing, engineering, and business development professionals from a wide range of companies to obtain market insights. The companies selected for this purpose were connected to smart manufacturing from different angles and fell into different categories including software vendors, chip manufacturers, service providers, and customers. Early market estimates were provided to those experts for their review. Secondary research was conducted via industry sources and research and information from companies participating in the ecosystem. These included SEC information from public companies as well as presentations from industry conferences. Other sources used included exhaustive internet searches, blogs, and articles written by industry journalists.
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