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SOURCE Grand View Research, Inc.
SAN FRANCISCO, December 4, 2017 /PRNewswire/ --
The global smart manufacturing market size is estimated to reach USD 395.2 billion by 2025, according to a new study by Grand View Research, Inc. The growing emphasis on increasing production efficiency and gaining visibility across the entire value chain are the two major factors driving market growth. In addition, the availability of advanced technologies such as 3D printing, Manufacturing Execution Systems (MES), and plant asset management solutions to small and medium enterprises is further accelerating the industry growth.
The positive impact of government initiatives and investments to promote smart manufacturing adoption has been one of the most influential factors driving market growth. The fact that both industrialized countries and developing economies are aggressively pursuing this avenue is expected to further drive growth. For example, China is reportedly investing over USD 3 billion for advanced manufacturing under the Made in China 2025 program.
Automotive and aerospace & defense industries are the leading growth avenues for smart manufacturing solution providers with industries such as oil and gas and industrial equipment manufacturing rapidly scaling their digitalization efforts. With the proliferation of 3D printing, simulation, and modeling in manufacturing and design, these industries are expected to continue to maintain a significant growth rate over the forecast period. Though numerous solutions are available in the market, digital twin and real-time analytics are anticipated to spearhead the penetration of digitalization in these industries.
Browse full research report with TOC on "Smart Manufacturing Market Analysis By Component, By Technology, By End-use (Automotive, Aerospace, Chemicals, Healthcare, Electronics, Agriculture, Oil & Gas), By Region, And Segment Forecasts, 2014 - 2025"at: http://www.grandviewresearch.com/industry-analysis/smart-manufacturing-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global smart manufacturing market based on components, technologies, end uses, and regions.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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