Smart Manufacturing Market Size, Share, Growth Analysis, By Component(Hardware, Software, Services), By Technology(IoT, AI and ML, 3D Printings, and Others), By Industry Vertical(Food & Beverage, Automotive, Aerospace & Defense, Consumer Electronics), By Region - Industry Forecast 2025-2032

Smart Manufacturing Market size was valued at USD 260.56 Billion in 2023 and is poised to grow from USD 300.43 Billion in 2024 to USD 938.38 Billion by 2032, growing at a CAGR of 15.3% during the forecast period (2025-2032).

ABB Ltd (Switzerland) ', 'Emerson Electric Co. (USA) ', 'FANUC Corporation (Japan) ', 'General Electric (USA) ', 'Honeywell International Inc. (USA) ', 'Mitsubishi Electric Corporation (Japan) ', 'Robert Bosch GmbH (Germany) ', 'Rockwell Automation (USA) ', 'Schneider Electric SE (France) ', 'Siemens AG (Germany) ', 'Texas Instruments Incorporated (USA) ', 'Yokogawa Electric Corporation (Japan) ', '3D Systems, Inc. (USA) ', 'Oracle Corporation (USA) ', 'SAP SE (Germany) ', 'IBM Corporation (USA) ', 'Cisco Systems, Inc. (USA) ', 'Stratasys Ltd. (USA) ', 'Dassault Systèmes (France) ', 'PTC Inc. (USA)'

Sensor advancements that consistently provide precise and accurate measurements have been crucial in increasing demand in novel applications, which will further accelerate the growth of the market. The smart manufacturing market are the rising attention on the energy absorption, manufacturing effectiveness, and the growing practice for a developed base for the manufacturing 

The continuous advancements in robotics technology, including developments in artificial intelligence, machine learning, and sensor technologies, present significant opportunities for the global smart manufacturing market. These innovations enable robots to become more intelligent, versatile, and capable of handling complex tasks, expanding their application possibilities across various industries 

North America is leading the market. Canada and the United States are investing more in modern industrial technologies. The introduction of the smart manufacturing concept has been accelerated by technological advancements, the availability of substitute printing materials, and lower equipment prices.  The North American aerospace & defense, health, industrial, and automotive industries are all seeing significant investment efforts expected to grow significantly in the future. Many government facilities like NASA, have identified the importance of 3D Printing R&D investments that can contribute substantially to space applications and produce new technologies to fuel market expansion.