Connect with us

Artificial Intelligence

Smart Manufacturing market is projected to grow at a CAGR of 14.7% by 2033: Visiongain Reports Ltd



Visiongain has published a new report entitled Smart Manufacturing 2023-2033. It includes profiles of Smart Manufacturing and Forecasts Market Segment by Component, (Hardware, Software) Market Segment by Industry Type, (Process Industry, Discrete Industry, Other Industry) Market Segment by Process Industry, (Oil & Gas Industry, Food & Beverages Industry, Pharmaceutical Industry, Other Process Industry) Market Segment by Discrete Industry, (Automotive Industry, Aerospace & Defense Industry, Semiconductor & Electronics Industry, Original Equipment Manufacturing Industry, Other Discrete Industry) Market Segment by Technology, (Industrial 3D Printing, AI in Manufacturing, Digital Twins, Industrial Machine Vision, Industrial Sensors, Other Technology) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country. 

The global smart manufacturing market was valued at US$97.81 billion in 2022 and is projected to grow at a CAGR of 14.7% during the forecast period 2023-2033. Manufacturing systems’ businesses are gradually expanding to cover all stages of product lifecycles, from raw materials to the disposal of used products; manufacturing technologies have advanced from human operation to automation, from disciplinary to multidisciplinary, from standalone to integrated and comprehensive, and from sophisticated to adaptable and reconfigurable. 

Advancement in Digital Technologies Will Boost the Demand for Smart Manufacturing 

Investing in digital transformation is critical to unlocking the industrial machinery trends that will accelerate and improve critical manufacturing and engineering processes, but establishing accurate data collection is critical to its success. More businesses will recognise the value of leveraging digitalization to implement modern manufacturing technology by 2023. In a simulated environment, digitalization also supports smart manufacturing and digital engineering functions. 

As artificial intelligence (AI) and machine learning (ML) technologies improve the capabilities of robots and cobots, integrating automation into manufacturing and engineering processes will become easier and more accessible. Manufacturers will encourage the use of AI and ML in their manufacturing and production processes as they simplify robotic programming and improve safety. Automation technology updates will make it easier to use, allowing workers with little experience in robotic programming to operate robots and cobots. Robots and cobots will be the next trend in manufacturing automation as this technology becomes more accessible and easier to implement. 

Download Exclusive Sample of Report

How has COVID-19 had a significant negative impact on the Smart Manufacturing Market? 

Like other firms, manufacturers are also learning to adjust to this new, uncertain world, which includes disruptions to their supply chains and business operations as well as new workplace policies and procedures that are fundamentally altering how manufacturers conduct business. 

Government responses to the Great Depression and World War II significantly influenced our financial institutions, the manufacturing sector, and consumer behaviour during the last few decades. As a result, the reforms and solutions put in place now to counteract COVID-19 may last for some time.  

The COVID-19 situation has had a significant negative impact on the manufacturing sector, and more effects are likely to follow. Nearly 80% of manufacturers responded in a recent study by the National Association of Manufacturers that they anticipate the pandemic will have a negative financial impact on their company.  

Manufacturing employment are virtually exclusively on-site and cannot be performed remotely, which results in significant disruptions for the sector compared to many other businesses. The slowdown in economic activity brought on by COVID-19 is another major concern for manufacturers, who believe that it would result in less demand for their goods both domestically and abroad. 

How will this Report Benefit you? 

Visiongain’s 363-page report provides 187 tables and 197 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global smart manufacturing market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Smart Manufacturing. Get financial analysis of the overall market and different segments including industry type, component, process industry, discrete industry, technology, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing smart manufacturing market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company. 

What are the Current Market Drivers? 

Predictive Data Analysis Drives Digital Transformation in Smart Manufacturing with Industrial Robots 

Smart production refers to the use of advanced predictive data analytics to improve system performance and decision making. With the proliferation of sensor transmissions and the Internet of Things, there is a growing need for industrial robots to manage large-scale production data characterised by high velocity, high variability, and high volume. In-depth learning provides advanced analytics tools for processing and analysing large amounts of performance data. It typically provides a comprehensive overview of standard learning algorithms and discusses their applications to make production ‘smart.’ The first section discusses the evolution of in-depth learning technologies and their advantages over traditional machine learning. Competitive approaches based on in-depth learning are specifically developed to improve system performance in manufacturing. 

Explosion of Data and Enterprise IoT Scaling 

Without access to accurate and up-to-date data, shop floors, manufacturing operations, and assembly processes cannot be effectively managed, and this is especially true during crisis management. However, some companies discovered that they did not have enough data to properly handle the pandemic situation. Under duress, it is incapable of making correct, qualified, and, most importantly, timely decisions. As a result, it did not manage to mitigate the negative consequences quickly enough. Businesses with real-time data, on the other hand, were able to respond quickly. Some businesses also altered production shift planning or began more effectively monitoring workforce availability to ensure the necessary sustainability for manufacturing processes. 

Download Exclusive Sample of Report

Where are the Market Opportunities? 

Changes in the Additive Manufacturing and Supply Chain 

Additive manufacturing, also known as 3D printing, is the process of starting with loose material, either liquid or powder, and then shaping it into a three-dimensional shape using a digital template (as opposed to subtractive manufacturing, such as carving wood). 3D printing enables distributed manufacturing, in which raw materials and fabrication methods are decentralised and the final product is manufactured in close proximity to the final user/customer. 3D printing also enables on-demand production; if a product or part is in high demand, it can be printed on the spot rather than having to be brought in from storage or suppliers. 

Networks Designed for Business Development 

The key to success is to begin with a secure network architecture that is designed to grow with the business and work alongside existing and future technologies. 5G use cases in manufacturing include integrated safety and security management, equipment asset tracking and monitoring, connected utilities, logistics and supply chain management, autonomous vehicle and robotics operations, predictive line management, and planned downtime. Serious money savers. A private network is ideal for critical use cases because it provides manufacturers with ultra-reliable, dedicated connectivity. Unlike a Wi-Fi network that is shared by many users and applications, a private network can be configured with cellular technology to a manufacturer’s specific location, providing total control, data insights, and robust security. 

Moreover, a private network is wireless, responding to the obvious need for mobile, flexible factory floors. Private networks are a great first step to support scalable and interoperable operations by creating a digital ecosystem where advanced factory floor technologies can communicate with each other and staff. 

Competitive Landscape 

The major players operating in the smart manufacturing market are 3D Systems, ABB Ltd., Cisco Systems, Inc., Emerson Electric Co., General Electric Company, IBM Corporation, Intel Corporation, Mitsubishi Electric Corporation, Rockwell Automation, Inc., Siemens AG. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. 

Recent Developments 

  • 28 Sept 2022, ABB is investing US$13 million in its Installation Products Division Iberville manufacturing facility in Saint-Jean-sur-Richelieu, Quebec, to increase production capacity and establish an R&D facility at its global centre of excellence for cable tray manufacturing. 
  • 17 Nov 2022, Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, release an intelligent edge management and orchestration platform with an edge application ecosystem based on zero trust security and open industry standards, accelerating industrial customers’ digital transformation.   

To access the data contained in this document please email [email protected]

To find more Visiongain research reports on the Electronics sector, click on the following links: 

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can help: [email protected] 

About Visiongain 

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs. 


Oliver Davison
Visiongain Reports Limited 
Telephone: +44 (0) 20 7336 6100 
Email: [email protected]

Artificial Intelligence

oToBrite Unveils Automotive-Grade 5MP/8MP Camera Modules to Meet Soaring Demand for High-Level ADAS/Autonomous Driving




HSINCHU, Sept. 28, 2023 /PRNewswire/ — oToBrite, a prominent provider of Vision-AI ADAS/AD solutions, has unveiled its latest offering in response to the surging demand for high-level Advanced Driver Assistance Systems (ADAS) and Autonomous Driving (AD) applications. With the need for enhanced perception technology, particularly for heavy commercial vehicles, as the heavier the vehicle is, the longer it will take to stop, oToBrite has successfully introduced automotive-grade 5MP/8MP camera modules. These cutting-edge modules can improve the visibility and perception capabilities of ADAS/AD systems, and have been adopted among clients in North America.

oToBrite has been a leading tier-1 player for vision-AI ADAS/AD solution in the automotive industry, leveraging its full-stack capabilities spanning camera module production technology, edge-computing system design, and vision-AI model development. The company offers flexible business model and comprehensive vision-AI technology stack, enabling it to provide system solutions, camera modules, or AI IP licensing to cater to diverse customer requirements. Its automotive-grade camera modules have already garnered the trust of prominent clients and entered the supply chain of car OEMs such as Luxgen, SONY, Toyota, XPENG, etc. with over 1 million automotive-grade camera modules deployed. To learn more about oToBrite’s offerings, please visit
The newly launched 5MP/8MP camera modules from oToBrite feature high-sensitivity CMOS sensors. oToBrite’s 5MP camera module series is equipped with Sony IMX490 Sensor and has multiple viewing angles, including 30°, 60°, 90°, and 120°. The 8MP camera module series employs Sony IMX728 sensors and also offers various viewing angles. Both 5MP and 8MP series are equipped with GMSL2 interfaces and tested with waterproof and dustproof standards of IP67/69K. They can operate within a temperature range of -40°C to +85°C, ensuring the utmost reliability and stability for customers.
oToBrite holds a distinct advantage in camera production technology, with 1K class clean room factory certified with IATF16949 and endorsed by several leading car OEMs. Additionally, the in-house developed 5/6-axis active alignment machine for high-end camera modules exhibits the capability to manufacture over 60 SKU variants of camera modules.
About oToBrite
oToBrite is a leading vison-AI ADAS/AD solutions provider. Based in Hsinchu Science Park, oToBrite has IATF 16949 certified clean room factory and several years of experience as an automotive Tier-1 supplier. Through comprehensive research and development capabilities, oToBrite provides vision-AI algorithm, ECU/domain controller and automotive-grade/special purpose camera products.
Photo –

View original content:

Continue Reading

Artificial Intelligence

CFOs are the change agents driving shift to servitized business model to harness growth, cost efficiency and technology opportunities




Time for action is now: Customer expectations for servitization already exist (61%) and projected to increase (70%) in the next three years, in terms of value, service and reliability.
LONDON, Sept. 28, 2023 /PRNewswire/ — IFS, the global cloud enterprise software company, has shared the latest findings of its recent global research polling 2,000 senior decision-makers – VP and above – in France, Germany, Japan, Nordics, UK, USA and the UAE –across Manufacturing, Services, Telecoms, Energy & Resources, Construction & Engineering, and A&D industries. In its last overview, the company highlighted the overarching dependence on AI to create and accelerate business value from servitization.  

The survey points to specific executives as drivers or enablers to successfully make the shift and align the organization behind it. The survey highlights the CFO (21%) behind the CEO (35%) as the guardian of business resilience, financial health and as the purse string holder for technology investments. CFOs recognize that the move to servitization is essential in providing predictability in revenues, expenditure and third-party costs, and are aligning themselves to becoming stewards of identifying cross-business strategies that will build competitive advantage. 
At the heart of the business case for servitization, the CFO is focused on three elements: Faster and more cost-efficient time to market, visibility and predictability into revenues and CAPEX, accelerating organization alignment across people, processes and technology, to support not only the processes but also to provide the insights required to assess and optimize as they go within their business and intra-company.  
CFOs exhibit the greatest urgency in implementing a servitized model out of all C-level respondents (CIOs, CHROs and CTOs), with (32%) prioritizing adoption within the next 18 months. This implies change is not only necessary but will deliver business benefits, with progress and success measured by a fully servitized P&L. CFOs are also most likely (26%) to say their role is the one driving the shift within the organization, as they understand how technology capabilities will reach deep into their organization and enable it to become more technology-driven with regards to the design and delivery of products and services: Product R&D (34%) and service R&D (32%) are two areas CFOs prioritized when looking at servitized business processes.  
The priority outcome CFOs want to achieve from servitization is enhancing insight-driven decision-making capabilities (32%) – pointing to why AI is their #1 essential technology choice (49%) as it will fuel faster, more accurate and more data-led inputs into the strategic choices that impact the bottom line.   
Technology as a revenue growth enhancer makes wise fiscal sense. For example, EAM is a must-have for servitization success (34%)– assets that are predictively maintained will last longer, have less downtime and result in less expenditure. FSM (40%) maximizes profitable revenue streams and enables significant cost savings across the service lifecycle through optimized workforce scheduling and planning. Similarly, the wealth of connected asset data that can be harnessed through the application of automation, ML, IoT, end-to-end connectivity – all CFO “must-implements” – explain why CFOs have emerged as such strong proponents of technology and servitization.   
The CFO’s confidence about the organizational readiness is high at (42%) indicating they have the processes mapped out and are progressing well in their move to servitization, but still have either organizational impacts on people and processes (23%) or technology needs to overcome, making the CHRO the second most significant executive to drive and enable the transformation. 
CHROs are more cautious about servitization readiness within the organization, being acutely aware that shifting from a product-focused to a service-focused mindset within their organizations is a barrier to implementing servitization (42%). However, CHROs are in alignment with the CFO on customer expectations for servitization, which are high now, and are set to increase. They also agree that technology is essential to success, with AI their top pick (50%).  
Alex Rumble, SVP of Corporate Communications, Product Marketing, AR, & CI at IFS, commented: “The CFO’s remit has evolved hugely in the last decade away from financial reporting to understanding and influencing business-wide strategies and aiding transformation.” Rumble added, “Our research illustrates this very well and that CFOs not only understand the positive impact of aligning a business behind the customer’s expectations, but also the much broader business value of doing so.” She concluded: “Today CFOs are visionary advocates of change and digital transformation and will help build predictability in revenue and costs, ultimately the holy grail for CFOs but still technology dependent.” 
Together, CFOs and CHROs can partner to be a powerful force to not only accelerate servitization, but also ensure that the whole organization is primed for success. CHROs must act as a secondary catalyst to mobilize cultural change, acting as a bridge between the business and ensuring the communication and implementation of the overall strategy is not siloed to the C-level. 
About IFS 
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build, and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers – at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 5,500 employees every day live our values of agility, trustworthiness, and collaboration in how we support our thousands of customers. Learn more about how our enterprise software solutions can help your business today at 
CONTACT: IFS Press Contacts: EUROPE / MEA / APJ: Adam Gillbe IFS, Director of Corporate & Executive Communications Email: [email protected] Phone: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi Morgan IFS, Director of Corporate & Executive Communications Email: [email protected] Phone: +1 520 396 2155
The following files are available for download:–cost-effici,c3220272
CFOs are the change agents driving shift to servitized business model to harness growth, cost efficiency and technology opportunities

View original content:

Continue Reading

Artificial Intelligence

Breaking language barriers: thebigword’s AI workflows enhance translation delivery on time to 99% while significantly reducing turnaround times




LEEDS, England, Sept. 27, 2023 /PRNewswire/ — thebigword, a leading provider of language solutions, is proud to announce an improvement in its on-time delivery performance and significant reduction of turnaround times. This has been made possible through a strategic fusion of human expertise and state-of-the-art AI and Machine Translation technologies.

This exciting achievement reaffirms the company’s commitment to delivering accurate and timely translations to clients worldwide, setting new industry standards.
With the ever-growing demand for rapid and high-quality translations, thebigword has taken numerous steps, including the ability to create and implement self-driving AI workflows, to ensure their clients are receiving the highest quality of translation and customer service.
Through the enhanced integration of AI and Machine Translation solutions into its translation workflows, thebigword has achieved remarkable outcomes, such as the significant reduction in turnaround times and this notable increase in on-time deliveries. With 99% of translation projects across various languages and industries delivered on time to clients, with shorter turnaround times.
thebigword’s collaborative approach leverages the strengths of their human translators with the power of AI technologies to allow for faster translation turnaround times, while maintaining the highest levels of accuracy. Their technology platform also enables quick resource allocation, ensuring that translation projects are assigned, executed and delivered quickly to reduce delivery times.
Joshua Gould, Chief Executive Officer of thebigword Group said: “thebigword is delivering a very human service with the utilisation of next-generation AI. These innovations represent an ongoing effort to enhance the overall client experience through our ability to deliver accurate, high-speed translations at an affordable price for any budget.”
Mark Daley, Global Managing Director of thebigword Translation said: “thebigword understands how crucial timely delivery of accurate translations are for the global success of our clients, and some of the latest technological integrations we have enabled have allowed us to achieve an impressive 99% as well as faster turnaround times.”
As thebigword celebrates this achievement, it looks forward to building on its success with other translation milestones and continuing to provide high-quality translation services – further enabling its mission of eradicating the final barrier of global communication.
About thebigword:
As one of the largest language service providers globally, thebigword utilises the greatest minds and boundary-shattering technology to deliver phenomenal quality at scale to both our clients and linguist network.
thebigword provides the best translation, interpretation, localisation and language technology solutions for businesses, the public sector and individuals – handling up to 50,000 worldwide assignments every day.
For more information about thebigword’s innovative AI and Machine Translation solutions, please visit
Logo –
For media enquiries, please contact:Lauren HockneyGlobal Head of [email protected]

View original content:

Continue Reading

Latest News