Chicago, Jan. 16, 2023 (GLOBE NEWSWIRE) — Markets N Research has recently released expansive research on Global Smart Manufacturing Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Teams of experienced and consummate market research professionals persistently track key industries to spot key developments, unmet needs and possible growth opportunities. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this Smart Manufacturing report. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today’s rapidly changing business environment.
The global smart manufacturing market is expected to exhibit strong growth, reaching USD 235.1 billion by 2028. As per the report titled “Smart Manufacturing Market Size, Share & COVID-19 Impact Analysis, By Information Technology (Human-machine Interface, Plant asset management, Manufacturing execution system and Warehouse management system Dual Frequency), By Enabling Technology (Industrial 3D Printing, AI in Manufacturing, Industrial Cybersecurity, Industrial Machine Vision, Industrial Sensors, Digital Twins, Robots,, Automated Guided Vehicles, Machine Condition Monitoring, Artificial Reality & Virtual Reality and 5G Industrial IoT), By Industry (Process Industry, Oil & Gas, Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Metals & Mining, Pulp & Paper, Others), Discrete Industry (Automotive, Aerospace & Defense, Semiconductor &, Electronics, Medical Devices, Machine, Manufacturing, Others), Mining, Construction, Oil & Gas and Others) and Regional Forecasts, 2022-2028,” observes that the market size in 2021 stood at USD 86.2 billion and USD 235.1 billion in 2028. The market is expected to exhibit a CAGR of 18.20% during the forecast period.
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Smart Manufacturing Market Analysis:
Increased acceptance of IoT and cloud platforms, greater integration of multiple technologies to improve performance, and strong industrial growth in emerging nations will all create new opportunities for the smart manufacturing market throughout the projection period. However, increased investments and costs associated with implementing smart manufacturing solutions, rising lack of standardization among equipment manufacturers and in connectivity protocols, rising continuous need for software upgrades, and rising low adoption of technologies due to technical issues are among the major factors that will limit market growth, while rising cybersecurity threats, rising complexity in smart manufacturing implementation
|Forecast Period 2023 to 2030 CAGR||18.20 %|
|2028 Value Projection||235.1 billion|
|Market Size in 2021||86.2 billion|
|Historical Data for||2016 – 2021|
|Segments covered||By Information Technology, By Enabling Technology, By Industry and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
List Of Key Companies Profiled:
- Amazon Web Services, Inc. (U.S.)
- Robert Bosch Manufacturing Solutions GmbH (Germany)
- Cisco Systems, Inc. (U.S.)
- 3D Systems Corporation (U.S.)
- Plex Systems, Inc. (U.S.)
- Cognex Corporation (U.S.)
- PTC Inc. (U.S.)
- FANUC CORPORATION (Japan)
- SAP SE (Germany)
- Mitsubishi Electric Automation, Inc. (U.S.)
- Emerson Electric Co. (U.S.)
- Siemens AG (Germany)
- Schneider Electric S.E. (France)
- ABB Ltd (Switzerland)
- Hitachi, Ltd. (Japan)
- Intel Corporation (U.S.)
Rockwell Automation, Inc. collaborated with Comau to Boost Production Capabilities
In April 2021, to maximize industrial capabilities through unified robotic control solutions, Rockwell Automation, Inc. teamed with Comau. Through this agreement, manufacturing operations across industries will be carried out more simpler, more efficiently, and more effectively.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the smart manufacturing market plan acquisitions to improve their brand recognition globally. For instance, in August 2021, the introduction of Connectix, a line of user-friendly software programs and professional services, was announced by General Electric Company. The service is intended for use in applications for smart manufacturing. The services assist in utilizing data analytics to improve day-to-day manufacturing operations, increase decision-making speed, and increase energy efficiency.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- MNR research methodology
- Increasing the Big Data, Internet of Things, and 5G Network Perimeter to Promote Market Development
One of their main uses, big data, is regarded as one of the newest market growth trends. Big data applications are in high demand due to the substantial, continuously growing volume of organized and unstructured data and information. Similarly, the Internet of Things is the most important market trend (IoT) trend. Smart cars, sensors, smart devices, and other connected components are part of the Internet of Things (IoT), a platform supported by A.I. These gadgets produce enormous amounts of data, which are then processed by artificial intelligence programs. Self-driving/autonomous automobiles, smart houses, intelligent thermostats, pacemakers, smart city solutions, etc., are a few examples of the applications.
- 5g Connectivity Technology Advancement And Spending On The New Network Infrastructure To Support Market Expansion
The current IoT-based applications used in smart manufacturing will probably change as the 5G era continues. Future IoT ecosystem architecture could be completely changed by 5G, notably in terms of scalability, latency, reliability, security, and the degree of individual control over connectivity parameters. More complex use cases necessitating improved network capabilities are also emerging as the IoT application domains expand. With speeds measured in the multiple gigabits per second range, millisecond latency, and the ability to accommodate 1,000 times more usage than current network technologies, 5G is capable of providing.
- Cybersecurity Threats May Impede Market Expansion
The growth in cybersecurity worries, which are brought on by a surge in viruses and hackers, is a key issue for the market for smart manufacturing. Malicious computer viruses can change important data, which might lead to a substantial loss. The entire information flow might be hampered by communication software systems that don’t take proper security measures. Using pre-made I.T. solutions are widely used in enterprises, and online communication is becoming more crucial. Therefore, malware that targets industrial systems is more likely to harm these companies.
- Smart manufacturing solutions with a high initial investment will stifle market expansion.
The most significant worldwide barrier to market expansion is high initial capital requirements. The survey claims that cost is the biggest barrier, followed by a lack of knowledge regarding the best technologies to invest in. The cost has become a serious worry for many businesses since the COVID-19 epidemic broke out, leading to investment reductions and other losses. Large upfront capital expenditures will, therefore, probably hinder the market growth.
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Global Smart Manufacturing Market Segmentations:
Global Smart Manufacturing Market By Information Technology:
- Human-machine interface
- Plant asset management
- Manufacturing execution system
- Warehouse management system Dual Frequency
Global Smart Manufacturing Market By Enabling Technology:
- Industrial 3D Printing
- AI in Manufacturing
- Industrial Machine Vision
- Industrial Sensors
- Digital Twins
- Automoted Guided Vehicles
- Machine Condition Monitoring
- Artificial Reality & Virtual Reality
- 5G Industrial IoT
Global Smart Manufacturing Market By Industry:
- Process Industry
- Oil & Gas
- Food & Beverages
- Energy & Power
- Metals & Mining
- Pulp & Paper
- Discrete Industry
- Aerospace & Defense
- Semiconductor & Electronics
- Medical Devices
- Machine Manufacturing
- Oil & Gas
Global Smart Manufacturing Market Regional Insights:
The Asia Pacific is projected to hold the largest share of the smart manufacturing market over the forecast period. The adoption of smart manufacturing solutions is anticipated to be driven by SMEs due to the active ecosystem present in nations like Japan, India, and Australia. The biggest market income is anticipated from large businesses engaged in specific industries. The region’s push for cloud usage is fueled by the growing acceptance of disruptive technologies like Industry 4.0, A.I., AR, IoT, and others. Therefore, cloud-based smart manufacturing solutions are projected to increase regional demand.
Further Report Findings
- The market in North America is expected to gain a huge portion of the global smart manufacturing market share in the coming years. The primary engine for regional prosperity is a growing emphasis on automating domestic manufacturing services and reducing dependency on other regions.
- Additionally, the implementation of smart manufacturing solutions causes manufacturers to increase their focus on supply chain reform to improve worker safety and lower operational costs in the production process.
- In Asia Pacific, the growth in this region is primarily driven by rising numbers of government initiatives to promote technology and rising spending by major companies to develop smart manufacturing.
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Key questions answered in this report:
- What is the size of the Smart Manufacturing market and what is its expected growth rate?
- What are the primary driving factors that push the Smart Manufacturing market forward?
- What are the Smart Manufacturing Industry’s top companies?
- What are the different categories that the Smart Manufacturing Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Smart Manufacturing market sample report and company profiles?
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis By Information Technology, By Enabling Technology, By Industry and By Geography
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Smart Manufacturing Market, By Information Technology Segment Analysis
Chapter 5: Global Smart Manufacturing Market, By Enabling Technology Segment Analysis
Chapter 6: Global Smart Manufacturing Market, By Industry Segment Analysis
Chapter 7: Smart Manufacturing Market – Regional Analysis, 2022 – 2030
Chapter 8: Smart Manufacturing Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Smart Manufacturing market is expected to grow annually at a CAGR of around 18.20%.
- Through primary research, it was established that the Smart Manufacturing market was valued at around USD 86.2 billion in 2021.
- Based on Information technology, the Smart Manufacturing market is segmented into human-machine interface, plant asset management, manufacturing execution system, and warehouse management system dual frequency. The machine condition monitoring was predicted to show maximum market share in the year 2021.
- The key factor driving the market is 5g Connectivity Technology Advancement And Spending On The New Network Infrastructure.
- The “Asia Pacific” region will lead the global Smart Manufacturing market during the forecast period 2022 to 2030.
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Cisco Doubles Down on Network Assurance with AWS
Cisco delivers seamless integration between ThousandEyes and Amazon CloudWatch Internet Monitor.ThousandEyes’ unmatched cloud and Internet visibility combined with AWS’s Internet health and performance insights will allow a complete view of an application’s entire service delivery path, across private environments, the public Internet and into AWS’s network.Customers benefit from new operational insights and recommendations enabling them to optimize deployments and assure exceptional digital experiences for any AWS-hosted application.LAS VEGAS, Nov. 28, 2023 /PRNewswire/ — AWS re:Invent — Today at AWS re:Invent 2023, Cisco (NASDAQ: CSCO) announced new integrations between Cisco ThousandEyes and Amazon CloudWatch Internet Monitor (CWIM), a new Internet monitoring service from Amazon Web Services (AWS). The first-of-its-kind integration empowers customers with unparalleled visibility into their cloud deployments, enabling them to deliver unmatched optimized digital experiences.
With this new integration, customers can leverage operational insights to ensure optimal placement of AWS instances and monitoring coverage based on user traffic profiles. This integration comes on the heels of ThousandEyes announcing AWS Network Path Enrichment, giving customers deeper visibility into AWS by enriching ThousandEyes Path Visualization with data from AWS data sources—helping customers work more collaboratively with providers to resolve issues that are impacting application performance.
Building upon the existing relationship between AWS and Cisco, the new integration demonstrates Cisco’s deep commitment to its end-to-end network assurance vision. Cisco securely and sustainably connects everyone to everything and assures the digital experience of every one of those connections. By working with AWS, Cisco is delivering on its promise to provide visibility into every domain that impacts digital experience—whether user, enterprise, Internet, or cloud—so it can ultimately provide artificial intelligence (AI)-driven insights, recommendations, and remediations to support the digital transformation of every customer, wherever they are on their journey.
“Since launching one year ago, Amazon CloudWatch Internet Monitor has delivered real-time insights into the traffic and performance of our customers’ AWS VPCs, CloudFront distributions, and Workspaces towards Internet destinations. In-depth Internet visibility is critical to our customers, so we’re excited to combine forces with ThousandEyes to provide a comprehensive view of Internet health.” — Robert Kennedy, VP of AWS Border Network Engineering, AWS
“Connectivity is key to Sutherland’s business model and to our customer interactions. Cloud visibility is a big part of that and with ThousandEyes’ end-to-end visibility all the way from our employees’ home environments to AWS, we’re able to quickly catch and resolve issues which allows us to deliver consistent high-quality application experiences to both our employees and customers.”—Ted Sanfilippo, VP Infrastructure, Head of Global Network Services and GTOC, Sutherland
“Customers today need to assure digital experiences over any network—the ones they own and the ones they don’t. As the leader in Internet visibility, Cisco is on a mission to deliver unmatched, end-to-end network assurance. Today’s integration with AWS demonstrates our shared commitment to empower our customers to more effectively monitor and manage their cloud environments.”— Mohit Lad, Senior Vice President and General Manager, Network Assurance, Cisco, and Co-Founder, ThousandEyes
For more information and live demos visit ThousandEyes at AWS re:Invent at booth #1621. Join our Lightning Talk on the exhibit floor: NET102-S, “Extending ThousandEyes visibility to the AWS network,” November 28 at 3:30 PM – 3:50 PM (PDT)
The Amazon CloudWatch Internet Monitor integration will be available in Cisco ThousandEyes in spring 2024. The ThousandEyes platform is available for purchase today in AWS Marketplace.Additional Resources
ThousandEyes Announcement BlogAWS Marketplace: CiscoCisco at AWS re:Invent 2023Additional Cisco news at AWS re:InventAbout CiscoCisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
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Artificial Neural Network Market to Reach $1.4 Billion by 2032 at 19.9% CAGR: Allied Market Research
The growing demand for AI-based solutions and the rising need for intelligent business processes are expected to drive the global artificial neural network market growth.
NEW CASTLE, Del., Nov. 28, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Artificial Neural Network Market by Component (Solution and Service), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry (Healthcare, BFSI, Retail and E-commerce, Manufacturing, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032”. According to the report, the artificial neural network industry generated $227.8 million in 2022 and is anticipated to generate $1.4 billion by 2032, witnessing a CAGR of 19.9% from 2023 to 2032.
Prime determinants of growth
The notable factors positively affecting the artificial neural network market include the growing demand for AI-based solutions and the rising need for intelligent business processes. However, a lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN) can hinder market growth. Furthermore, advancements in big data analytics and the availability of high-performance computing systems offer lucrative market opportunities for the market players.
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Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Component, Deployment Mode, Enterprise Size Industry, and Region.
Growing demand for AI-based solutions
The rising need for intelligent business processes
Advancements in big data analytics.
The availability of high-performance computing systems.
A lack of computational resources and a skilled workforce with expertise in artificial neural network (ANN)
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The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for less than two-fifths of the artificial neural network market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the growing need for a high level of personalization which is one of the primary reasons enterprises are increasing their investment in the artificial neural network market. However, the services segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. The services segment is expected to witness the highest growth, as these services help to reduce the time and costs associated with optimizing systems in the initial phase of deployment.
The on-premise segment to maintain its lead position during the forecast period
Based on deployment mode, the on-premise segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue. An increase in the need for secure and reliable data within the organization is fueling the market growth for on-premises-based artificial neural network solutions. However, the cloud segment is expected to portray the largest CAGR of 21.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides several advantages such as reducing costs, supporting business, and effectively controlling the business environment in the organization.
The large enterprises segment to maintain its lead position during the forecast period
Based on enterprise size, the large enterprises segment accounted for the largest share in 2022, contributing for more than one-fourth of the artificial neural network market revenue, owing to the growing demand for artificial neural network solutions in large enterprises which is fueling the market growth in these enterprises. However, the small and medium-sized enterprises segment is expected to portray the largest CAGR of 22.2% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. It provides various benefits to the small and medium-sized enterprises organization.
The healthcare segment to maintain its lead position during the forecast period
Based on industry vertical, the healthcare segment accounted for the largest share in 2022, contributing for less than two-fifths of the artificial neural network market revenue, owing to the development of digital technologies in IT sector. However, the manufacturing segment is projected to manifest the highest CAGR of 24.3% from 2023 to 2032. The surge in implementation of automation trends and the increase in utilization of digital technology in this sector are expected to provide lucrative opportunities for the market.
North America region dominated the global artificial neural network market in 2022
Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the artificial neural network market revenue. The increase in the usage of artificial neural network solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to manifest the highest CAGR of 21.8% from 2023 to 2032. Countries such as China, India, and South Korea are at the forefront, embracing digital technologies to enhance their effectiveness and competitiveness, which is further expected to contribute to the growth of the market in this region.
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Recent Product launches in the Artificial Neural Network Market
In April 2023, Google LLC launched a cloud-based automation toolkit for healthcare organizations and previewed Med-PaLM 2, a neural network capable of answering medical exam questions.In August 2021, IBM Corporation unveiled details of the upcoming new IBM Telum Processor designed to bring deep learning inference to enterprise workloads to help address fraud in real-time..Recent Partnerships in the Artificial Neural Network Market
In June 2023, Snowflake partnered with Microsoft to simplify joint customers’ artificial intelligence projects. A core focus of the collaboration is Microsoft’s Azure OpenAI Service. It provides cloud-based versions of OpenAI LP’s machine learning models, including GPT-4.In November 2021, Qualcomm Technologies partnered with Google Cloud, on Neural Architecture Search (NAS), enabling the companies to create and optimize AI models automatically rather than manually.Leading Market Players: –
Amazon Web Services Inc. Google Inc. Hewlett Packard Enterprise Development LP IBM Corporation Intel Corporation Microsoft Corporation NVIDIA Corporation Oracle Corporation Qualcomm Technologies Inc. Salesforce Inc.The report provides a detailed analysis of these key players in the artificial neural network market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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New process definition capabilities in PIMS further enhance quality assurance and “right -first-time” initiatives for pharma manufacturers
WOKING, England, Nov. 28, 2023 /PRNewswire/ — IDBS unveils new process definition templates in its latest release, PIMS 5.1. Process definition templates enable pharma manufacturers to template process steps and quality specifications for faster process definition set-up and improved harmonization across the manufacturing teams to further enhance quality assurance (QA) and “right-first-time” initiatives.
Providing contextualized access to aggregated manufacturing data, PIMS offers a single source of data truth for efficient gathering, sharing and analysis of critical manufacturing process and quality data to support continued process verification (CPV), investigations and process optimization.
This release builds on recent PIMS’ process definition enhancements that added process definition versioning and approvals to help alleviate manual standard operating procedure (SOP) requirements and enhance QA for a more robust GxP environment.
PIMS’ customers report that these standardized process definition templates will reduce their manual process definition set-up and enable easy, harmonized site and product comparisons.
“Our customers recognize the value of being able to trace their process data over time, not only for tech transfer but also to help them learn from their historical data and optimize future process development,” says Pietro Forgione, General Manager at IDBS. “Having their critical process data in PIMS already gives them the assurance of data integrity and these new enhancements now make it even easier to complete QA and validation steps and move them closer to ‘right-first-time’ manufacturing.”
To learn more, register for the December 6 webinar here.
IDBS helps BioPharmaceutical organizations accelerate the discovery, development and manufacturing of the next generation of life-changing therapies that advance human health worldwide. From lab through manufacturing, IDBS leverages its 30+ years of experience working with a diverse list of customers – including 18 of the top 20 global BioPharma companies – and deep expertise in scientific informatics and process data management to tackle today’s most complex challenges.
Known for its signature IDBS E-WorkBook product, IDBS has extended solutions across the entire value chain for BioPharma Lifecycle Management (BPLM). Built on analytics-centric and cloud-native technology, IDBS Polar and Skyland PIMS platforms are powered by a digital data backbone to drive faster and smarter decisions in drug development and across the supply chain.
Learn more at idbs.com.
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