Global Smart Manufacturing Platform Market Key Players Analysis, Size, Growth, Trends and Forecast up to 2026

Smart manufacturing is a technology-powered approach which uses internet-connected machinery and utilize computer-integrated manufacturing. Smart manufacturing Platform is a technology-based method that involves an internet-enabled device to monitor the production process and performance. The idea of a smart manufacturing platform is to link smart manufacturing or Industry 4.0 to the Industrial Internet of Things (IIoT) and to automate manufacturing operations and then use data analytics in enhancing the manufacturing process and performance.

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The major factors that are driving the growth of the smart manufacturing platform market are increasing adoption of industrial automation in manufacturing industry, support from governments for industrial automation, and the growing demand for streamlined and automated data to improve productivity and decrease operational costs. The increasing adoption of industry 4.0 and smart factory along with increasing government investment of different countries on industrial automation are propelling the growth of the market. There has been an Increased integration of Industrial Internet of Things (IIoT) with Industry 4.0 and smart manufacturing to gather, analyze the data, and then use that data to retrieve valuable insights to enhance the productivity, performance and efficiency. However, frequently software upgradation and lack of skilled IoT workforce are restraining the growth of the smart manufacturing market.

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Based on the type, the device management segment is expected to grow at significant rate during the forecast period. The increasing adoption of industrial automation increases the implementation of IoT devices across the industry. With the growing number of connected devices, it becomes crucial to monitor, track, and manage devices, which increases the demand for the device management platform market. In addition, the device management platform helps in maintaining the health of devices, connectivity, IoT device security, and remotely troubleshoot the issue. Device management platform assist helps to manufacture enterprises in tracking, managing, and securing devices effectively.

Based on the application, the performance optimization segment is expected to grow significant growth rate in the smart manufacturing platform market during the forecast period. Smart manufacturing platforms are widely used in various industries such as automotive, energy & power, electronics, and oil & gas for performance optimization. The platform used for performance optimization application enables real-time analytics for all processes, improves machine utilization, enhances performance, and minimize machine downtime to take timely action and minimize safety incidents with real-time operational insights of key industries, which increases plant efficiency.

Based on Industry, the process industry segment is expected to grow at higher rate over the forecast period.  Process industry segments include oil & gas, food & beverages, metal & mining, energy & power, and pharmaceuticals. Major industries require monitoring of the process remotely all the time. The rising in the automation across various industries and increasing demand for optimizing quality & performance, maximize profit margin, and reduce industrial waste are fuelling the growth of the segment.

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Based on the region, the Asia-pacific region is expected to grow at the fastest rate during the forecast period. Increased adoption of automation technologies in various industries such as automotive, electronics & semiconductors, power & energy, and others sector, are increasing the demand for smart manufacturing platforms in this region. Countries such as China, Japan, India, and South Korea are taking the various initiative to promote the implementation of IIoT for their respective industries are further fuelling the market growth in this region.

Various notable players in the Smart Manufacturing Platform market include Microsoft Corporation, IBM Corporation, PTC, Inc., SAP SE, Hitachi Ltd., ABB Group, Robert Bosch GmbH, Emerson Electric Co., Fujitsu Ltd., General Electric Company, Rockwell Automation, Inc., among others.,

Key Developments:

• In Apr 2019, Microsoft Corporation and BMW group together launched the open manufacturing platform to transform digital production efficiency across the industry. The aim is to enable faster and more cost-effective advancement in the manufacturing sector.
• In Dec 2018, Fujitsu collaborated with Amazon Web Service, which allows its customers to move their IT estates to the AWS Cloud to enhance business processes and speed up innovation.

The Global Smart Manufacturing Platform market has been segmented based on the type, application, industry, and region. Based on the type market is categorized into device management, connectivity management, and application enablement platform. Based on application, the market is further segmented into performance optimization, asset and condition monitoring, and others. 

Based on industry, the market is further segmented into Process Industry and Discrete Industry. The process industry is further segmented into Oil & Gas, Power & Energy, Chemicals, Pharmaceuticals, Food & Beverages, Metals and Mining, and Other. The discrete industry is further segmented into Automotive, Electronics and Semiconductor, Industrial Manufacturing, Medical Devices, Aerospace and Defense, and Others. Based on the deployment type, the market is segmented into the cloud and on-premises.

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Key questions answered in this research report:

• At what pace is the global Smart Manufacturing Platform market growing? What will be a growing trend in the future?
• What are the key drivers and restraints in the global Smart Manufacturing Platform market? What will be the impact of drivers and restraints in the future?
• What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Manufacturing Platform market?
• What are the various application areas of the global Smart Manufacturing Platform market, and how they are poised to grow?
• What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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