Smart Manufacturing Market To Reach $790.91 Billion By 2030

Smart Manufacturing Market Growth & Trends

The global smart manufacturing market size is anticipated to reach USD 790.91 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 14.0% from 2025 to 2030. This market is popularly known as industry 4.0 as the advancement and integration of manufacturing with technology and automation processes in manufacturing is driven by the Internet of Things (IoT), machine learning, and real-time data. It is focused on combining innovation and efficiency as production processes grow faster. The industry is intended to adopt smart production methods across various domains. The need to increase productivity and improve the visibility of the entire system are two major factors driving the market growth.

The proliferation of the Industrial Internet of Things (IIoT) is expected to create challenges in controlling large amounts of data and accessing data and hence participants can opt for self-study programs and Artificial Intelligence (AI) technologies to avoid challenges. However, with increasing reliance on data, the industry aims to prevent contact with processes from preventing unintended issues. An essential aspect of the industry is the need to integrate various technologies such as intelligent sensors, robots, and cloud computing. Digital development has created the opportunity to use integrated technologies to achieve measurable results. Simulation, 3D printing, and network technology development have made the market a promising investment center for technology developers and users.

Several countries around the world imposed strict closures to prevent the spread of COVID-19, with severe restrictions and safety measures. Leading companies that produce smart devices started using IoT deployment, statistics, and AI-based digital platforms to reduce the need for human interaction. In addition, reduced efficiency in production lines due to social isolation processes is also strengthened with the help of automated solutions, thereby reducing employee involvement in production processes.

While established retailers are pushing their technology harder in new fields and operating environments, the barriers to entry are declining rapidly. These trends have led to an increase in competition among retailers, thus, leading to the introduction of fictional business models as advanced products. Buyers are experiencing a paradigm shift and focus on ordering rather than production to sell stock. These circumstances are expected to drive a comprehensive overhaul of production business models. This, in turn, is expected to fuel the market during the forecast period.

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Smart Manufacturing Market Report Highlights

• Industrial 4.0 has been helping to transform the market from acquiring legacy systems to smart components and sophisticated equipment to the development of digital factories, and later, to the ecosystem of plants and connected businesses

• Based on the technology segment, the 3D Printing type of smart manufacturing is anticipated to grow with the highest CAGR of 17.8% during the forecast period due to the rise in the usage of 3D animation in the production of spare parts

• The software segment accounted for the largest market share of over 49% in 2024, owing to its essential role in enabling data analytics, process optimization, and integration of various manufacturing systems.

• The smart manufacturing market in Asia Pacific is expected to grow at the highest CAGR of over 15% in 2024, driven by the increasing adoption of advanced technologies in countries.

Smart Manufacturing Market Segmentation

Grand View Research has segmented the global smart manufacturing market report based on component, technology, end-use, and region:

Smart Manufacturing Component Outlook (Revenue, USD Million, 2018 - 2030)

• Hardware

• Software

• Services

Smart Manufacturing Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Machine Execution Systems

• Programmable Logic Controller

• Enterprise Resource Planning

• SCADA

• Discrete Control Systems

• Human Machine Interface

• Machine Vision

• 3D Printing

• Product Lifecycle Management

• Plant Asset Management

Smart Manufacturing End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Automotive

• Aerospace & Defense

• Chemicals & Materials

• Healthcare

• Industrial Equipment

• Electronics

• Food & Agriculture

• Oil & Gas

• Others

Smart Manufacturing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List Of Key Players in the Smart Manufacturing Market

• ABB Ltd.

• Cisco Systems, Inc.

• Siemens AG

• General Electric

• Rockwell Automation Inc.

• Schneider Electric

• Honeywell International Inc.

• Emerson Electric Co.

• FANUC Corporation

• Mitsubishi Electric Corporation