Smart Manufacturing Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Smart Manufacturing Platform Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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