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, 2020 | Semiconductor & Electronics | PPT format

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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?