Asia Pacific Smart Manufacturing Market Size & Outlook
Asia Pacific smart manufacturing market, 2018-2030 (US$M)
Related Markets
Asia Pacific smart manufacturing market highlights
- The Asia Pacific smart manufacturing market generated a revenue of USD 110,511.3 million in 2023.
- The market is expected to grow at a CAGR of 16.4% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 110,511.3 million |
| Market revenue in 2030 | USD 319,739.8 million |
| Growth rate | 16.4% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Rockwell Automation Inc, Schneider Electric SE, Honeywell International Inc, Fanuc Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 37.2% of the global smart manufacturing market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 319,739.8 million by 2030.
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Smart Manufacturing Market Scope
Smart Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific smart manufacturing market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart manufacturing market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 53.32% in 2023. Horizon Databook has segmented the Asia Pacific smart manufacturing market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific smart manufacturing market was Manufacturing is among the most prominent contributors to the region’s economy and its rapid transformation. Rising labor costs in North America and Europe has resulted in the low-end manufacturing firms increasingly shifting their operations to Southeast Asia for cost reduction.
Smart manufacturing helps the manufacturers in transforming their businesses and achieving significant value by leveraging IIoT, analytics, and cloud solutions, thereby generating significant revenue over the past few years. Further, Big data analytics is being used by the leading manufacturing companies across the region to support new business models and refine the complicated processes.
Pushing enterprises towards smart manufacturing deployment. Countries such as India are continuously focusing on automating in-house manufacturing facilities and reducing dependency on other countries as a part of ‘Make in India’ program. Implementation of smart manufacturing helps the manufacturers focus on streamlining their supply chains to enhance competitiveness.
Also, Japan is emerging as the manufacturing hub for production of factory automation solutions and is supplying them to other countries within the region, making such solutions affordable for developing countries like India.
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Target buyers of Asia Pacific smart manufacturing market databook
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Our clientele includes a mix of smart manufacturing market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart manufacturing market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart manufacturing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific smart manufacturing market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Manufacturing Market Outlook Share, 2023 & 2030 (US$M)
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