Smart Manufacturing Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Smart Manufacturing Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : November, 2021 | Semiconductor & Electronics

Report Digest


Global Smart Manufacturing Platform Market: Overview

Smart manufacturing platform is connected with the idea of smart manufacturing or Industry 4.0 that allows companies to link to Industrial Internet of Things (IIoT). It focuses on the collection, analysis, and making usage of as much data as possible. It propels data insights towards the path of direct action and creates competitive advantage. Smart manufacturing platform generally finds its application in predictive maintenance, asset management, condition monitoring, and performance optimization. Smart manufacturing platform refers to an end to end software framework that collects and connects data from any industrial devices and assets, processes and delivers them straight away to different applications. Smart manufacturing platform helps in the facilitation of device management, data flow, communication, and functionality of applications.

The segments of type, application, industry, deployment type, and geography comprise global market for smart manufacturing platform market. In the study, it has been forecasted that the segment of device management will rise at a robust growth rate. Of all the regions, Asia Pacific is estimated to offer promising scope for the growth of global smart manufacturing platform.

Global Smart Manufacturing Platform Market: Notable Developments

Acquisitions, mergers, new product launches will mark the growth of the global smart manufacturing platform market. Some of notable developments pertaining to the competitive landscape of this market are:

  • In July last year, Microsoft and GE entered into their largest ever partnership till date. The partnership resulted in the acceleration of industrial IoT adoption for customers.
  • In April 2018, C3 IoT got into strategic partnership with Microsoft to generate new technological developments and go-to-market initiatives that speed up enterprise IoT and AI application development.
  • In February 2019, IBM made Watson, its question-answering computer system, movable across any cloud and empowered businesses in a bid to prevent vendor lock-in and initiate  deploying AI at places where their data resides.
  • In December 2018, Fujitsu made an announcement of its strategic collaboration with Amazon Web Services. The partnership enabled its customers to relocate their IT estates to the AWS Cloud
  • In June 2018, Rockwell Automation, Inc and PTC  made an announcement that a definitive agreement for a strategic partnership has been entered into. It was done to speed up the growth of both the companies.
  • In July 2018, Alibaba Cloud and Siemens entered into a partnership to promote the industrial Internet of Things (IIoT) in China.

Some of the most prominent competitors operating in the competitive landscape of global smart manufacturing platform market include –

  • Microsoft Corporation
  • Robert Bosch GmbH
  • Flutura Decision Sciences and Analytics
  • IBM Corporation
  • Fujitsu Ltd
  • Schneider Electric SE

Global Smart Manufacturing Platform Market: Growth Drivers

Increased Adoption of Industrial Automation Fuel Market Growth

Increase in the adoption of industry 4.0 solutions and industrial automation, growing need for streamlined and automated data to improve productivity, and support from governments to adopt industrtial automation are driving the growth of smart manufacturing platform market. However, shortage of qualified and experienced IoT workforce and frequent upgradation of software are the main factors that curb the growth of global smart manufacturing platform market.

Global Smart Manufacturing Platform Market: Regional Outlook

On the basis of geography, the global smart manufacturing platform market is divided into North America, Asia Pacific, Europe, and Rest of the World. Some of the important industrial segments in APAC comprise oil & gas, electronics, chemical, automotive, and power & energy. Countries such as India, Japan, South Korea, and China have undertaken scores of initiatives to support the implementation of IIoT in their respective industries at home. Such rising government initiatives to take up latest automation technologies generate an opportunity for this global smart manufacturing platform market.

The global Smart Manufacturing Platform market is segmented as:   

Type

  • Device Management 
  • Connectivity Management 
  • Application Enablement Platform

Application

  • Performance Optimization 
  • Asset and Condition Monitoring
  • Others 

Industry

  • Process Industry 
  • Discrete Industry

Deployment Type

  • Cloud 
  • On-Premises

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?