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Request Now !The global smart manufacturing devices market size is experiencing a significant growth, and will grow considerably in next few years. Smart Manufacturing Devices are the devices that use internet connected machinery which is a technology driven approach to monitor the manufacturing process. The main goal of these smart manufacturing devices is to use data analytics and identify moment for automating operations to improve manufacturing processes and performance. The other goals sometimes include optimization of the supply chain, rapid changes in production levels based on demand and others. Thus, they find their usage in applications in end uses such as Chemical & Materials, Oil & Gas, Defense & Aerospace, Automotive, Food & Agriculture, Healthcare, Electronics, industrial Equipment and Others. Innovations in the IoT and sensor technology will pave the way for better Smart Manufacturing Devices.Â
The global smart manufacturing devices market is segmented on the basis of Technology, Component, End User, and Region. Based on Technology, the smart manufacturing devices market is divided into Programmable Logic Controller, SCADA, Product Lifecycle Management, 3D printing, Enterprise resource Planning, Human Machine Interface, Machine Execution Systems, and others. On the basis of Component, the market is categorized into Software, Hardware, and Services, and others. On the basis of End User into Chemical & Materials, Oil & Gas, Defense & Aerospace, Automotive, Food & Agriculture, Healthcare, Electronics, industrial Equipment and Others Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global Smart Manufacturing Devices industry include Honeywell, ABB, IBM, Siemens, Emerson, Rockwell, Schneider, General electric, Fanuc Corporation, Mitsubishi Electric Corporation and others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.Â
Increase in adoption of digital technologies such as big data analytics, autonomous robots and industrial IoT propels the smart manufacturing devices market growth. In addition, rise in emphasis on gaining visibility across the entire value chain and increasing production efficiency are expected to fuel the market growth further. Moreover, the availability of advanced technologies such as manufacturing execution systems, 3D printing, plant asset management solutions, and increasing government initiatives to promote smart manufacturing are expected to boost the market demand further.
The introduction of new products that comprise enhanced capabilities have been introduced by key market players. The major players involved in this market are leveraging on strategic collaborative initiatives with local companies to increase the profitability and market share. An agreement with Edison, which is Italy’s 2nd largest integrated energy company was signed by GE’s Power services business in the year 2018. This agreement was made to boost performance at Puglia’s Candela combined cycle power station.
Major key players have been concentrating on manufacturing new products for precise applications as there are changing demands based on the application. There is surge in the usage of Smart Manufacturing Devices by pharmaceutical industry as its manufacturing is a complex process. For achieving operational efficiency, proper end to end monitoring is required. There are also problems faced by manufacturers such as regulatory and safety guidelines, growing cost pressures and increasing demand for diverse product portfolios. As all these problems are solved by Smart Manufacturing Devices, there has been a surge in its usage in this industry.
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Segments | Subsegments |
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Key benefits of the report:
Smart Manufacturing Devices Market Scope and Structure Analysis:
Report Metric | Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast units |  Value (USD) |
 Segments covered |  Technology, Component, End User, and Region |
 Regions covered | North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
 Companies covered | Major players analyzed include Honeywell, ABB, IBM, Siemens, Emerson, Rockwell, Schneider, General electric, Fanuc corporation, Mitsubishi Electric corporation and others. |
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Questions answered in the Smart Manufacturing Devices Market research report:
Smart Manufacturing Devices Market Report Highlights
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Key Market Players | Company1, Company2, Company3, Company4, Company5, Company6, Company7, Company8, Company9, Company10 |
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