Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Smart Manufacturing Platforms Market size was over USD 10.09 billion in 2024 and is poised to exceed USD 89.68 billion by 2037, growing at over 18.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of smart manufacturing platforms is evaluated at USD 11.66 billion.
Rising industrial automation globally, increasing adoption of intelligent manufacturing platforms in the automotive industry, and escalating support from governments for industrial automation are expected to be the major factors driving the market growth in the coming years. Moreover, increase in the adoption of IoT and cloud technologies is projected to create opportunities for the adoption of smart manufacturing platforms during the forecast period. According to the statistics by NITI Aayog’s, artificial intelligence (AI) is expected to boost India's annual growth rate by 1.3% by 2035. Apart from these, as smart manufacturing platforms are able to eliminate human intervention, reducing waste and labor cost, minimizes downtime and inaccuracies, and increase process quality, they are assessed to be high in demand in the near future.
