Smart Manufacturing Market Size worth $787.54 Billion, Globally, by 2030 - Exclusive Report by The Research Insights

CHICAGO, May 29, 2025 /PRNewswire/ -- The global Smart Manufacturing Market Size is projected to be valued at USD 297.20 billion in 2023 and reach USD 787.54 billion by 2030, growing at a CAGR of 14.9% according to a new report by The Research Insights. Key drivers of the smart manufacturing market growth consist of Industry 4.0 technology adoption such as IoT, AI, and robotics together with rising demands for automated operations and operational efficiency alongside government digital transformation initiatives and the requirement for real-time data-based decision-making.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Smart Manufacturing Market growth of 14.9% comprises a vast array of, Component, Technology, End-Use and Geography which are expected to register strength during the coming years.

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Market Overview and Growth Trajectory:

Smart Manufacturing Market Growth: According to an exhaustive report by The Research Insights, the Smart Manufacturing Market is experiencing significant growth. The rise of smart manufacturing systems and solutions stems from the necessity to optimize resource utilization along with reducing waste. The "Manufacturing USA" government initiative strengthens market growth through enhanced research and development efforts that target manufacturing technologies including machine condition monitoring and AI. New technologies including human machine interface and edge computing function as growth-driving factors by reducing manufacturing downtime and boosting productivity with modern automated production techniques.

Rapid Adoption of Industry 4.0 Technologies:
Industry 4.0 principles drive the global smart manufacturing market through their emphasis on automation and real-time data exchange along with cyber-physical systems integration into manufacturing processes. The manufacturing sector is undergoing major transformations due to advancements in Industrial Internet of Things (IIoT), artificial intelligence (AI), robotics, digital twins, and edge/cloud computing technologies. Manufacturers now utilize advanced technologies to monitor and process production data in real-time which results in predictive maintenance capabilities and process optimization through autonomous decision-making. Embedded sensors in machines detect faults early which prevents downtime while improving equipment effectiveness and cutting operational expenses. AI-powered analytics together with machine learning models deliver practical insights for supply chain management as well as inventory control and demand forecasting. Digital transformation advances productivity and quality while driving innovation throughout the automotive, aerospace, electronics, and pharmaceutical industries.

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Demand for Operational Efficiency and Cost Reduction:
Manufacturers today must enhance their operational efficiency while reducing waste and optimizing resource utilization to survive in a volatile and globally competitive economic environment. Smart manufacturing creates solutions through its ability to build production systems that are both highly adaptive and agile. Every production phase benefits from decision-making improvements through advanced analytics and real-time monitoring starting at design and continuing through delivery. Manufacturing automation eliminates human mistakes and lowers labor expenses while speeding up production timelines as data analysis enhances both energy conservation and resource utilization. Smart energy management systems utilize usage pattern analysis to optimize electric consumption for various machines across multiple work shifts. Smart systems empower lean manufacturing which facilitates just-in-time production that lowers inventory expenses while enhancing adaptability to market fluctuations. Industries that produce high quantities of products while operating with limited financial buffers require these capabilities to maintain market competitiveness. Companies from various industries now direct more investments toward smart manufacturing to achieve competitive advantage while ensuring resilience and maintaining cost-effectiveness.

Government Initiatives and Public-Private Partnerships:
National governments worldwide implement strategic policies and funding programs alongside incentives to promote smart manufacturing adoption. Germany's "Industrie 4.0," China's "Made in China 2025," and the United States' "Manufacturing USA" collectively aim to modernize their domestic manufacturing sectors through digitization and workforce upskilling while advancing technological development. Substantial public R&D investments and tax incentives for new technology adoption along with industry-research grants define these initiatives. Governments are boosting their recognition of smart manufacturing as a key factor for boosting national competitiveness while securing supply chains and meeting sustainability goals. As part of wider climate objectives, smart technologies designed to boost energy efficiency while decreasing emissions receive various forms of support and incentives. The policies both speed up smart technology adoption in traditional manufacturing environments and expand market access by reducing the entry barriers for SMEs.

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Geographical Insights: 

In 2022 the Asia Pacific region had the most significant market share in the industry at 36.7%. The growth rate in this region stands out as the highest among all during the forecasted period. India and China represent emerging markets with immense potential for smart manufacturing and are actively pursuing full automation capabilities. The goal of these countries is to become self-reliant in production capabilities and manufacturing systems which drives them to make substantial investments in Industry 4.0 technology. Latin America stands to achieve an impressive CAGR of 15.3% throughout the forecast period.

The adoption of innovation and automation technologies in Latin America's market is accelerating which results in a substantial transition to smart manufacturing. The ongoing technological revolution in this region is producing growth opportunities at an unmatched speed. The easy access to raw materials in Latin America serves as a key factor in promoting smart manufacturing technologies while boosting market growth.

Global Smart Manufacturing Market Segmentation and Geographical Insights:

• Based on Component, the smart manufacturing market size is divided into Hardware, Software, and Services. The software segment has emerged as a leading contributor to the overall revenue, accounting for approximately 49.6% share in 2022.
• Based on Technology, the smart manufacturing market size is divided into Machine Execution Systems, Programmable Logic Controller, Enterprise Resource Planning, SCADA, Discrete Control Systems, Human Machine Interface, Machine Vision, 3D Printing, Product Lifecycle Management, and Plant Asset Management. The discrete control segment dominated the market share in 2022, accounting for a significant portion at 16.1%. Over the forecast period, this segment is expected to continue its lead as it provides an essential backbone for the overall system.
• Based on End Use, the smart manufacturing market size is divided into Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Industrial Equipment, Electronics, Food & Agriculture, Oil & Gas, and Others. The automotive sector has consistently demonstrated its resilience, garnering over 24% of total revenue share in 2022. According to forecasts, this segment is poised for significant growth, with a projected CAGR of 15.6%.
• The Smart Manufacturing Market size is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Key Players and Competitive Landscape:

The Global Smart Manufacturing Market is characterized by the presence of several major players, including:

• ABB Ltd.
• Siemens
• General Electric
• Rockwell Automation Inc.
• Schneider Electric
• Honeywell International Inc.
• Emerson Electric Co.
• Fanuc UK Limited

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Global Smart Manufacturing Market Recent Developments and Innovations:

• In December 2024: ABB from Switzerland partnered with Engineering Software Steyr GmbH from Austria to advance automotive paint shop automation. The partnership between ABB and Engineering Software Steyr GmbH combines Steyr's paint shop simulation tools with ABB's RobotStudio platform to optimize operations and improve sustainability in automotive manufacturing.
• In October 2024: The German industrial giant Siemens recently signed an acquisition deal to take control of Altair Engineering Inc. from the United States which specializes in industrial simulation and analysis software. The acquisition will boost Siemens' position in industrial software by improving its AI-driven design and simulation tools and accelerating digital and sustainable transformation efforts.
• In October 2024: Mitsubishi Electric Corporation from Japan made an investment in Formic Technologies Inc. The startup from the United States provides subscription-based industrial robotics solutions. This partnership seeks to reduce automation costs and increase accessibility so manufacturers can overcome workforce shortages.
• In September 2024: SAP (Germany) completed the purchase of WalkMe Ltd. (US) to incorporate WalkMeX technology into SAP's Joule copilot for enhanced intelligent workflow assistance based on situational awareness. The acquisition enables SAP to further refine user experience while advancing software adoption and fostering business transformation.
• In August 2024: Cisco Systems Inc., a U.S. corporation has completed the acquisition of Roboust Intelligence Inc. Cisco Systems (US) solidifies its dedication to responsible AI by adding advanced AI security and governance into its Security Cloud which enhances defenses against emerging AI threats. By accelerating innovation and streamlining operational processes organizations can now deploy AI applications with greater security and confidence.

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 Smart Manufacturing Market Report Scope

Frequently Asked Questions (FAQs):

1.      What is the forecasted market size of the Smart Manufacturing Market in 2030?

• The forecasted market size of the Smart Manufacturing Market is USD 787.54 billion in 2030.

2.      Who are the leading players in the Smart Manufacturing Market?

• The key players in the Smart Manufacturing Market include, ABB Ltd; Siemens; General Electric; Rockwell Automation, Inc.; Schneider Electric; and Honeywell International Inc., among others.

3.      What are the major drivers for the Smart Manufacturing Market?

• The expansion of industrial automation is propelled by multiple core elements as Industry 4.0 technologies gain wider acceptance and governments increase support for automation while manufacturing processes increasingly integrate automated systems.

4.      Which is the largest region during the forecasted period in the Smart Manufacturing Market?

• The Asia Pacific Smart Manufacturing Market is expected to dominate the Global Smart Manufacturing Market, as it is expected to represent more than 36.7% of global market revenues.

5.      Which is the largest segment, by component, during the forecasted period in the Smart Manufacturing Market?

• The software segment has emerged as a leading contributor to the overall revenue, accounting for approximately 49.6% share during the forecast period.

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Conclusion:

The global smart manufacturing market experiences a deep transformation through the integration of advanced technologies like Industrial Internet of Things (IIoT), artificial intelligence, cloud computing, and advanced data analytics. Real-time decision-making capabilities along with predictive maintenance functions and improved process optimization techniques now serve various industrial sectors through these technological advances. Manufacturers turn to intelligent systems that automate processes and establish machine-to-machine communication while utilizing data analysis because they face increasing demands to improve operational efficiency and ensure supply chain resilience and sustainable practices. The combination of cyber-physical systems with digital twins drives rapid progression towards manufacturing environments that are both agile and responsive. The long-term success of Industry 4.0 smart factories depends on workforce upskilling, strong cybersecurity measures, and scalable digital infrastructure. The global production landscape is experiencing a transformation due to smart manufacturing which boosts productivity while minimizing expenses and stimulating innovation across various established and new industries.

The report from The Research Insights, therefore, provides several stakeholders— manufacturers, technology providers, system integrators, regulatory bodies, industry associations, and end-use industries—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

With projected growth to US$ 787.54 billion by 2030, the Global Smart Manufacturing Market represents a significant opportunity for startups, venture capital firms, research institutions, digital transformation consultants, and IoT/AI platform developers, can position themselves for success in this dynamic and evolving market landscape.

Check out more related studies published by The Research Insights:

• Artificial Intelligence in Manufacturing Market: The Global Artificial Intelligence in Manufacturing Market is expected to reach at USD 47.88 billion by 2030, according to a new report by The Research Insights.  It is projected to expand at a CAGR of 46.5% during the forecast period. Advanced production facility technologies fuel the current trend as advanced analytics, augmented and virtual reality experiences, intelligent packaging solutions and additive manufacturing methods serve as key contributors
• Manufacturing Automation Market: The Global Manufacturing Automation Market is expected to reach at USD 23.96 billion by 2030, according to a new report by The Research Insights.  It is projected to expand at a CAGR of 9.7% during the forecast period. This trajectory is driven by a trifecta of factors including, Industry 4.0's transformative impact, the widespread adoption of next-generation networks (NGNs), and an unwavering focus on optimizing resource utilization and efficiency.
• U.S. Smart Manufacturing Market - The U.S. smart manufacturing market is poised for significant growth, with an estimated value of USD 62.26 billion in 2023. Projected at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2030, this sector is expected to expand substantially over the next seven years. The primary driver behind this momentum is the widespread adoption of Industry 4.0 technologies. Governments are increasingly providing support for these initiatives, while manufacturers are emphasizing automation in their production processes.

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