COVID-19 Impact on Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region – Global Forecast to 2025

2020-04-21
Price :
Published : Apr-2020
No. of Pages : 104
Inquire before Buying request discount

“Smart manufacturing market is expected to grow at CAGR which is lower than pre-COVID-19 evaluations from 2020 to 2025.”

Post COVID-19, the global smart manufacturing market size is expected to be worth USD 181.3 billion by2020 and USD 220.4 billion by 2025, growing at a CAGR of 4.0% from 2020 to 2025.The estimation for 2020 is down by approximately 16% as compared to pre-COVID-19 evaluations.

Factors that drive the growth of the smart manufacturing market include the increasing demand for smart manufacturing products & solution propelled by COVID-19, the importance of digital twin in maintaining operations within the manufacturing ecosystem, and the emerging & expanding role of collaborative robots in healthcare and manufacturing sectors.

“The post-COVID-19 market for collaborative robots is expected to witness positive growth in 2020 as  compared with 2019.”

Collaborative robots are used in manufacturing activities where they coexist with humans and other machines to enhance and optimize manufacturing operations. Apart from the automobile industry, collaborative robots can also be used in other sectors, which has led to their increased demand even during the pandemic. However, their market growth is expected to be below the growth estimated during pre-COVID-19. During this pandemic, increased usage of collaborative robots is expected to boost the manufacturing of various products and devices such as ventilators, respirators, valves, masks, and other life-essential goods. Despite its positive growth in 2020, it would be difficult for collaborative robot sales to reach the estimates pre-COVID-19.

“Automotive sales are expected to decline in 2020 as compared to 2019.”

The spread of COVID-19 has impacted the automotive sector. Automobile manufacturing plants across Europe and North America are either non-operational or have reduced their production. Lockdown in China has led to the shortage of various parts used in automobiles as most of the spare parts are procured from the country. Electric vehicle production has also been hampered owing to the scarcity of lithium-ion batteries and other key components,which are supplied by China.  Thus, the demand for automobiles will remain low for the next 1–2 quarters.

Smart manufacturing solutions are an important and significant aspect of the automotive industry. However, the anticipated decline in the revenue of the automotive industry is expected to result in reduced demand for smart manufacturing products and solutions. Companies are currently in a race to save operations and cash flows instead of investing in any new project. We may see a positve response in terms of the demand for smart manufacturing products and solutions 1-2 quarters after the lockdown is over.

“APAC to continue to hold the largest share of the global smart manufacturing market during the forecast period.”

APAC is expected to continue to account for the largest share of the global smart manufacturing industry from 2020  to 2025.Rapid industrialization in APAC has boosted the manufacturing sector in APAC. Countries in APAC have the presence of a large number of small- and mid-sized enterprises (SMEs), which employ more than 70% of the total population in the countries. However, due to COVID-19, the market size of smart manufacturing in APAC is expected to lower in 2020; but its market share among other regions will continue to remain high. The APAC market is expected to recover only after 2021, but it will be challenging to attain the market size estimated pre-COVID-19.

Breakdown of the profiles of primary participants for the report has been given below:

  • By Company Type: Tier 1 = 39%, Tier 2= 41%, and Tier 3 = 20%
  • By Designation: C-Level Executives = 42%, Directors = 36%, and Others = 22%
  • By Region: North America = 34%, Europe= 24%, APAC = 22%, and RoW = 20%

The key players operating in the global smart manufacturing market are3D Systems (US), ABB (Switzerland), Cisco (US),Emerson (US), General Electric (US), Honeywell (US), IBM (US), Oracle (US), Rockwell (US), SAP (Germany), Schneider (France), Siesmens (Germany), and Yokogawa (Japan).

Research Coverage

This report covers the COVID-19 impact on the smart manufacturing market based on information technology, enabling technology, industry, and geography. It also discusses the supply chain, drivers, and challenges pertaining to the smart manufacturing market.

Reasons to Buy the Report:

  • The illustrative segmentation, analysis, and forecast of the market based on information technology, enabling technology, industry, and geography have been conducted to give an overall view of the smart manufacturing market considering detailed impact analysis of COVID-19
  • Impact on supply chain analysis and market dynamics, i.e.,drivers, restraints, opportunities, and challenge spertaining to the smart manufacturing market,have been discussed in detail in this report.
Filed in: Semiconductor & Electronics
Publisher : marketsandmarkets
More Reports
Title Price Buy Now

Thermoelectric Modules Market by Model (Single Stage, Multi Stage), Type (Bulk, Micro, Thin Film), Functionality (General Purpose, Deep Cooling), End-Use Application (Consumer Electronics, Automotive), Offering and Region – Global Forecast to 2027

“The thermoelectric modules market is projected to grow at a CAGR of 8.8% during 2022–2027” The thermoelectric modules market is expected to grow from USD 693 million in 2022 and is projected to reach USD 1,054 million by 2027; it is expected to grow at a CAGR of 8.8% during the forecast period. Advantages such as compact design of TEMs compared to vapor-compression cooling systems, drives the adoption of TEMs across several end-use application. Additionally, ability of TEMs to produce hot and cold water for different functions adds to its rising adoption in different applications. Furthermore, the rapidly growing market for electric and luxury vehicles is also expected to drive thermoelectric modules market. TEMs are used in electric vehicles to stabilize the temperature of a car......
 $4950

European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography – Global Forecast to 2027

European smart home market dynamics The European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. “Surging importance of home monitoring” Smart homes can perform intricate tasks such as automatically lighting up evacuation routes in the case of a fire alarm in addition to basic operations such as turning off lights, dimming lights, and shutting curtains. Connectivity has become a high-end novelty in a variety of household equipment, including security cameras and utility or smart meters, which record the consumption of electric energy and communicate information to the user and thermostats. In the coming years, connectivity is anticipated to become a more prevalent tren......
 $4950

Network Monitoring Market by Offering (Equipment, Software & Services), Bandwidth (1&10 Gbps, 40 Gbps, 100 Gbps), Technology (Ethernet, Fiber Optic, InfiniBand), End User and Geography – Global Forecast to 2027

“The network monitoring market is projected to grow at a CAGR of 6.9% during 2022–2027” The network monitoring market is projected to grow from  USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027. The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market. However, availability of free network monitoring tools is a prominent factor limiting the growth of the network monitoring market. “Network monitoring equipment with 1 & 10 Gbps bandwidth to hold large......
 $4950

Network Devices Market by Connectivity (WiFi, Cellular, LoRa, ZigBee, Bluetooth), Device Type (Router, Gateway, Access Point), Application (Residential, Commercial, Enterprise, Industrial, Transportation) and Geography – Global Forecast to 2027

“The network devices market is projected to grow at a CAGR of 6.6% during 2022–2027” The network devices market is expected to grow from USD 26.4 billion in 2022 and is projected to reach USD 36.4 billion by 2027; it is expected to grow at a CAGR of 6.6% during the forecast period. WiFi network deployment helps enterprises rapidly build and connect business applications. The WiFi network also provides greater flexibility, scalability, reliability, and cost-effective benefits in connecting mission-critical business applications. Core industry sectors are keen on automating and digitalizing their business processes to streamline business operations and drive new business revenue opportunities. As the number of Internet users is expected to continue to grow significantly in coming ye......
 $4950

RF Tunable Filter Market by Type (Bandpass, Band Reject), Tuning Mechanism, Tuning Component, System (Handheld and Pocket Radio, Radar System), Application (Aerospace and Defense, Transportation, Smart Cities) and Geography – Global Forecast to 2027

“RF tunable filter market is expected to grow at CAGR of 10.8% from 2022 to 2027.” The global RF tunable filter market is projected to reach USD 168 million by 2027 from an estimated USD 100 million in 2022, at a CAGR of 10.8% from 2022 to 2027. The growth of the market can be attributed to the rising demand for RF tunable filters in aerospace & defense industry and the increasing demand for 5G smartphones, smartphones, and mobile phones. “Bandpass filter segment is projected to capture a larger share of the overall market during the forecast period” The RF tunable filter market for the band pass filter segment is projected to capture a larger share of the overall market during the forecast period attributed to the increased use of bandpass filters in the aerospace &am......
 $4950

Security Robots Market by Type (UAV (Fixed Wing, Rotary Wing), UGV (Wheeled, Tracked, Legged, Hybrid), UUV (Autonomous Underwater Vehicles, Remotely Operated Underwater Vehicles)), Application, Component, End User and Geography – Global Forecast to 2027

“Security robots market to grow at a CAGR of 17.7% from 2022 to 2027 to reach USD 89.6 billion by 2027” The security robots market was valued at USD 33.7 billion in 2021 and is projected to reach USD 89.6 billion by 2027; it is expected to grow at a CAGR of 17.7% from 2022 to 2027. The major drivers of the market include the growing adoption of security robots for commercial and residential applications, rising emphasis on security at national or regional levels, increasing investments and spending on defense by countries globally, and surging demand for autonomous systems that make real-time monitoring smarter. “UAV held the largest share of the security robots market in 2021” UAVs are either remotely controlled, semi-autonomous, or autonomous unmanned aircraft that can b......
 $4950

LED Lighting Market by Installation (New, Retrofit), Product Type (A-type, T-type, Decorative, Directional), Sales Channel (Retail, Direct, E-commerce), Application (Residential, Commercial, Industrial) and Geography – Global Forecast to 2027

The LED lighting market size is estimated to be USD 75.3 billion in 2022 and is projected to reach USD 124.7 billion by 2027, at a CAGR of 10.6% during the forecast period. The booming lighting industry contributes most to the rising demand for energy-efficient products and modifications in the existing lighting products using LED technology. Moreover, technological innovations and rising environmental concerns have further accelerated the market growth in the region. Competitive manufacturing costs, high economic growth rate, and large-scale industrial constructions in residential and commercial segments are some of the other major factors driving the growth of the LED lighting market “Decorative luminaire to register highest growth between 2022 to 2027.” Decorative luminaires a......
 $4950

Augmented Reality and Virtual Reality Market by Technology Type (AR: Markerless, Marker-base; VR: Non-Immersive, Semi-immersive and Fully Immersive Technology), Device Type, Offering, Application, Enterprise, and Geography – Global Forecast to 2027

AR dynamics “Increasing demand for AR devices and applications in healthcare” Augmented reality’s widening demands in healthcare sector is paving a way for its growth in the market. The augmented reality can be put to use for surgeries, patient care, fitness and pharmacy management. Alog with its use in all of these aspects, augmented reality can also be used for medical training for students/budding surgeons.  The augmented reality provides  an immersive, 3D AR modelled visualization of the patient’s internal organs to the surgeon so that the surgery can be performed with minimalistic invasion and with precsision. The AR modelled 3D visualization also helps medical teaching staff to provide an immersive learning experience to the students/budding surgeons. Augmented rea......
 $4950

Inverter Market by Type (Solar Inverters, Vehicle Inverter, others), Output Power Rating (Upto 10 kW, 10-50 kW, 51-100 kW, above 100 kW), End User (PV Plants, Residential, Automotive), Connection, Voltage, Sales Channel & Region – Global Forecast to 2027

“The inverter market is projected to grow at a CAGR of 15.7% from 2022 to 2027” The inverter market is anticipated to grow from an estimated USD 16.3 billion in 2022 to USD 33.8 billion in 2027, at a CAGR of 15.7% during the forecast period. The market has a promising growth potential due to increased deployment of solar inverters, especially in Asia Pacific. The increasing investments in the renewable energy sector and supportive government initiatives and schemes is propelling demand for inverters. Countries targets on climate change to achieve net-zero goals are shifting them towards sustainability development which increased the demand for electric vehicles and also technological advancements in developing high-power density inverters for various end user applications are expect......
 $4950

Smoke Detectors Market by Power Source (Battery-Powered, Hardwired with battery backup, Hardwired without battery backup), Type (Photoelectric Smoke Detectors, Ionization Smoke Detectors), Service, Distribution Channel – Global Forecast to 2027

“Smoke Detectors market to grow at a CAGR of 9.6% from 2022 to 2027” The smoke detectors market size is expected to grow from USD 2.3 billion in 2022 to USD 3.4 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027. The key factors driving the growth of the smoke detectors market are rising initiatives and support for smoke detectors from government bodies and rising technological innovations in smoke detectors which provides various advantages to the end-use industries. “Hardwired with battery backup is expected to grow at higher rate from 2022 to 2027” Hardwired with battery backup smoke detectors operate as a substitute for battery-powered smoke detectors. They are efficient and have battery backups for continuous operation. Hardwired photoelectric......
 $4950
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy