Product ID: SQMIG45I2185
Report ID:
SQMIG45I2185 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
94 |
Figures:
76
Within the smart manufacturing market, North America being the largest region in the world, will most probably attract more customers now and in the coming years. Leading the smart manufacturing collaboration with North America is attributable to some factors such as early adoption of superior technologies, development of automation, and structural supports of synergies of smart manufacturing. Besides, the presence of many IT companies, research institutions, and favouring regulatory environment is an icing on the cake which makes smart manufacturing a global leader.
On the other hand, the Asia Pacific emerges as the fastest-growing segment of the smart manufacturing market in the global area. The growing industrialization, more funds outlay on the breakthrough technology in manufacturing 4.0, and the development of the manufacturing sector in countries, such as China, Japan and India; these factors, it seems, lead to the smart manufacturing growth in the Asia-Pacific region. Likewise, government plans to support digitalization and automation of production technologies in manufacturing industries are ongoing in Asia Pacific which will in turn influence the adoption pace of smart manufacturing platforms by industries worldwide, setting the region as a major growth driver in the global market.
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REQUEST FREE CUSTOMIZATIONSmart Manufacturing Market size was valued at USD 225.99 billion in 2019 and is poised to grow from USD 260.56 billion in 2023 to USD 813.86 billion by 2031, at a CAGR of 15.3% during the forecast period (2024-2031).
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Product ID: SQMIG45I2185