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Smart Manufacturing Devices Market By Technology (Programmable Logic Controller, SCADA, Product Lifecycle Management, 3D printing, Enterprise resource Planning, Human Machine Interface, Machine Execution Systems, and others), Component (Software, Hardware, and Services), and End User (Chemical & Materials, Oil & Gas, Defense & Aerospace, Automotive, Food & Agriculture, Healthcare, Electronics, industrial Equipment and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09873
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Jan 2021 | 86 Views
 
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COVID-19

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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. 

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. 

COVID-19 scenario Analysis: 

  • Global smart manufacturing devices market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for AC servo systems. 
  • Global factories have struggled to manufacture, integrate and assemble new technologies as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations, which, in turn, has disrupted the global supply chains.
  • The market would be less impacted than other markets for non-essential goods and services as these systems are essential part of automation. Moreover, the world would be shifting more toward automation so that no other pandemic can disrupt production.
  • This COVID-19 crisis is expected to provide opportunities for companies to invest, implement, and research in technologies, which involve less human touch. For instance, combination of AI and automation.
  • The impact of COVID-19 on smart manufacturing devices market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase as various growing industries.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

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.

New product launches to flourish the smart manufacturing devices market

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.

Surge in usage in Pharmaceutical industry boost the market growth of Smart Manufacturing Devices

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.

Key segments covered:

Segments

Subsegments

  Technology

  • Programmable Logic Controller
  • SCADA
  • Product Lifecycle Management
  • 3D Printing
  • Enterprise Resource Planning
  • Human Machine Interface
  • Machine Execution Systems
  • Others

  Component

  • Software
  • Hardware
  • Services

  End users

  • Chemical & Materials
  • Oil & Gas
  • Defense & Aerospace
  • Automotive
  • Food & Agriculture
  • Healthcare
  • Electronics
  • industrial Equipment
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global smart manufacturing devices market trends forecast along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart manufacturing devices market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global smart manufacturing devices industry growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global smart manufacturing devices market analysis based on competitive intensity and how the competition will take shape in coming years. 

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.

 

Questions answered in the Smart Manufacturing Devices Market research report:

  • Who are the leading market players active in the smart manufacturing devices market forecast?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the smart manufacturing devices market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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