The Smart Manufacturing Market was valued at USD 88.7 billion in 2021 and is anticipated to increase at a CAGR of 18.5% from 2022 to 2027, reaching USD 228.2 billion. The industrial robots market shipped 351 thousand units in 2020, and it is anticipated that it will increase at a CAGR of 16.1% to reach 817 thousand units by 2026. The increasing adoption of Industry 4.0, the growing emphasis on industrial automation in manufacturing processes, the growing government support of industrial automation, the growing importance of regulatory compliances, the growing complexity of the supply chain, and the surging demand for software systems that save time and money are the main factors driving the global market for smart manufacturing. Information technology, enabling technology, industry, and region have all been used to segment the market for smart manufacturing.

ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), IBM (US), and General Electric (US) are major firms that provide smart manufacturing technologies. To boost their revenue, many large corporations concentrate on executing both organic development tactics, like product releases, and inorganic growth methods, such partnerships and expansions.

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Top 5 Players in Smart Manufacturing Market:

Schneider Electric

A multinational company based in Europe, Schneider Electric is focused on providing automation and energy management solutions. The business serves the industry sectors of residential and commercial structures. Schneider Electric operates in four main markets: non-residential and residential buildings, utilities and infrastructure, industry and machine manufacturers, and data centres and networks. It does this through the Energy Management (medium voltage, low voltage, and secure power) and Smart manufacturing segments. Schneider offers a real-time SCADA-based dynamic network of applications (DNA) called OASyS. OASyS DNA provides real-time information about field activities via business networks. The business provides services to the network & data centres, mining & minerals, food & beverage, oil & gas, automotive, and oil & gas industries. Schneider (US), Scimedmedizentechnik (Germany), Schneider (Europe) GmbH (Switzerland), Schneider Belgium NV (Belgium), and Schneider Electric are some of the company's biggest subsidiaries (India).

Siemens

Electrical engineering giant Siemens is a prominent conglomerate innovator. The corporation is well recognised for building significant electrical infrastructure, electrifying trains and railways, implementing smart manufacturing, installing motors and drives, and developing medical diagnostic equipment. Digital Industries, Smart Infrastructure, Mobility, and Siemens Healthineers are the company's four reportable segments. From field devices like industrial control equipment, sensors, and process analysis equipment to plant-level software like plant operations management and plant performance analytics software solutions, Siemens offers a full variety of automation systems and components. The corporation has a significant geographic presence, namely in areas like the Americas, Europe, Asia, Australia, the Commonwealth of Independent States, Africa, and the Middle East. It is traded as FWB: SIE on the Frankfurt Stock Exchange.

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Emerson Electric Co.

Electric fans and motors are produced by Emerson Electric Co. The Emerson Electric Manufacturing Firm, a US company, was established there. Emerson specialises in the production and development of valves, analytical instruments, and process control systems. It serves the industrial, commercial, and consumer markets with goods and services. The firm is divided into two divisions: Automation Solutions and Commercial & Residential Solutions. By providing staff with fresh perspectives and useful information, the company's Plantweb digital ecosystem enables measurable performance improvement in the areas of production, reliability, safety, and energy management. The corporation is listed as NYSE: EMR on the New York Stock Exchange. The US, Canada, Asia, Europe, the Middle East/Africa, and Latin America are all geographically present for the company.

Honeywell International, Inc.

Products, services, and solutions for manufacturing are provided by Honeywell International Inc. Aerospace, Honeywell Building Technologies, Performance Materials & Technologies, and Safety & Productivity Solutions are its four business segments. Through its business unit Honeywell Process Solutions (HPS), Honeywell provides intelligent production and control solutions. The oil and gas, refining, power generation, chemical, pulp and paper, metals, minerals, and mining industries can all benefit from the services this unit offers. The oil and gas, petrochemical, and refining industries all benefit from the software services and technology offered by Honeywell UOP, a Honeywell firm that was formerly known as UOP LLC or Universal Oil Products. Together, Honeywell UOP and HPS provide customers fully integrated solutions to raise the security of production facilities. North America, Europe, the Middle East, Asia Pacific, Africa, and South America are among places where Honeywell has a presence.

Rockwell Automation Inc

One of the biggest providers of power, control, and information solutions for industrial automation is Rockwell Automation. Architecture & Software and Control Products & Solutions are its two business segments through which it conducts business. The company's architecture & software division sells hardware, software, and communication parts. This segment's goods and services can manage enterprise information and regulate industrial processes. The business sells industrial sensors under the Allen-Bradley name. The company offers limit switches, presence sensors, and condition sensors as part of its sensor and device portfolio. Condition detecting devices include industrial automation sensors. The business offers complete MES solutions for the industrial automation market as well. More than 80 different countries are served by Rockwell Automation Inc.'s clients. Although it has operations in other parts of the world, the US accounts for 55% of the company's sales. The corporation also has operations in China, Canada, Mexico, Italy, the United Kingdom, Germany, and Brazil.

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