Smart Manufacturing Market Analysis

Smart Manufacturing Segmentation

Component (Hardware, Software, Services)

The software segment is slated to dominate the smart manufacturing market and holds the largest revenue share of about 38% by the end of the forecast period. The dominance of the segment is attributed to the rising trend of full automation of processes. Advanced software is set to increase the usage of robots, drones, and other machines which minimizes human interruption. For the smooth functioning of these components, smart manufacturing solutions are required. All these factors have fueled the growth of segment value.

End-Use (Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Electronics, Food & Agricultural, Oil & Gas)

The automotive segment is poised to account for 32% share of the global smart manufacturing market by 2037. Smart manufacturing technologies have aided automotive manufacturers to build automated assembly lines for vehicle parts and producing the whole car. Also, the rapid growth of the automotive industry and increased demand for smart technologies such as smart manufacturing meet the expectations of the global population. The global automotive industry generated a revenue of almost USD 3 trillion and is expected to rise with a significant CAGR.

Our in-depth analysis of the market includes the following segments:

Component	Hardware Software Services
Technology	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 Others
Deployment	Cloud On-premise
Enterprise Size	Large SMEs
End-Use	Automotive Aerospace & Defense Chemicals & Materials Healthcare Electronics Food & Agricultural Oil & Gas Others

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of smart manufacturing is assessed at USD 169.34 billion.

The smart manufacturing market size was valued at USD 144.49 billion in 2024 and is set to reach USD 1.82 trillion by the end of 2037, expanding at around 21.3% CAGR during the forecast period i.e., between 2025-2037. Increasing adoption of modern technologies such as Internet of Things (IoT) devices, machine learning, artificial intelligence, and others will impel the market growth.

North America region is likely to hold 35% of the revenue share by 2037, due to rapid adoption of advanced technologies such as IoT, and IIoT aid in enhancing productivity and lowering operational and maintenance costs.

The major players in the market include ABB GroupSiemens AktiengesellschaftHoneywell International Inc.General Electric CompanyRockwell Automation, Inc.Schneider Electric SERobert Bosch GmbHMitsubishi Electric CorporationFANUCHP Development Company, L.P.

Smart Manufacturing Market Analysis