According to TMR, the Global Smart Manufacturing Platform Market is accounted for $2.76 billion in 2017 and is expected to reach $15.93 billion by 2026 growing at a CAGR of 21.5% during the forecast period. Some of the key factors influencing the market growth include Increase in the adoption of industrial automation and industry 4.0 solutions, support from governments of various countries for industrial automation, and increasing need for streamlined and automated data to enhance productivity. However lack of skilled IoT workforce and frequent software upgrade are restraining the market growth.
Smart manufacturing platform is associated with the concept of smart manufacturing or Industry 4.0 that enables companies to connect to Industrial Internet of Things (IIoT) emphasizing on collecting, analyzing, and making use of as much data as possible, turn data insights into direct action, and create competitive advantage. Smart manufacturing platform usually finds its usability for performance optimization, asset management, condition monitoring, predictive maintenance, etc.
Based on the type, Device management segment has significant growth during the forecast period due to increasing adoption of industrial IoT solutions requires a number of IoT devices in industries or plants. Effective device management is essential for monitoring & maintaining the health, connectivity, and security of IoT devices. Device management platforms assist manufacturing enterprises in effectively managing and tracking and securing devices used in plants or industries.
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By Geography, APAC is expected to grow at the significant market share during the forecast period. Major factors driving the growth of the smart manufacturing platform market in APAC include the rising demand for smart tools due to the growing automation in the industry, growing adoption of technologies such as Industry 4.0, smart factory, IoT, and IIoT and increasing investments in smart manufacturing platform to optimize productivity and improving maintenance efficiency.
Some of the key players in global Smart Manufacturing Platform market are Amazon, IBM, Hitachi, Microsoft, Bosch, ABB, PTC Inc., Emerson, SAP SE, Fujitsu Ltd., Schneider Electric, Rockwell Automation, GE, Siemens, Telit, Cisco, Accenture and Oracle.
• Connectivity Management
• Application Enablement Platform
• Device Management
Deployment Types Covered:
• Asset and Condition Monitoring
• Performance Optimization
• Other Applications
End Use Industries Covered:
• Process Industry
• Discrete Industry
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• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o South Africa
o Rest of Middle East & Africa
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