According to TechSci Research report, “Connected Manufacturing Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, The Global Connected Manufacturing Market is witnessing a surge in demand throughout the forecast period.
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A key driving force behind this growth is the widespread adoption of Industry 4.0 principles. Industry 4.0 represents a transformative shift in manufacturing, leveraging advanced technologies like the Internet of Things (IoT), artificial intelligence (AI), and big data analytics. These technologies enable the creation of smart factories, where machinery, sensors, and systems communicate seamlessly. This integration enhances automation, facilitates real-time data exchange, and enables intelligent decision-making. By incorporating Industry 4.0 principles into manufacturing processes, businesses achieve improved operational efficiency, predictive maintenance capabilities, and overall productivity gains. Smart factories empower manufacturers to monitor and optimize production processes in real time, leading to reduced downtime, lower operational costs, and increased agility to meet market demands. With industries worldwide recognizing the transformative potential of Industry 4.0, the demand for connected manufacturing solutions is rising, thereby fueling the growth of the global connected manufacturing market.
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Another significant driver of the global connected manufacturing market is the increasing demand for data-driven decision-making. In today's manufacturing landscape, data has become invaluable, and connected manufacturing solutions enable businesses to harness real-time data for informed decision-making. Through the integration of sensors, IoT devices, and advanced analytics, manufacturers gain unprecedented visibility into production processes, supply chains, and overall operational performance. Data-driven decision-making in connected manufacturing offers numerous benefits, including enhanced production planning, quality control, and optimization of the supply chain. Manufacturers can proactively identify inefficiencies, predict maintenance needs, and swiftly respond to changes in market conditions. The ability to derive actionable insights from the vast amounts of data generated within connected manufacturing environments enhances competitiveness, agility, and the effectiveness of decision-making processes. As businesses increasingly acknowledge the critical role of data in gaining a competitive advantage, the demand for connected manufacturing solutions continues to grow. This driver underscores the importance of leveraging technology to transform raw data into actionable intelligence, thereby driving the evolution of the global connected manufacturing market.
The Global Connected Manufacturing Market is segmented into Organization, application and region.
Based on Organization, the SMSs segment dominated the market share in 2023. Numerous technology providers offer scalable solutions tailored specifically for small and medium-sized enterprises (SMEs), enabling them to adopt connected manufacturing technologies gradually. This approach aligns with SMEs' specific requirements and financial constraints, leveraging their agility and adaptability in embracing new technologies. Connected manufacturing solutions can be customized to suit the unique workflows and needs of smaller-scale operations. Some technologies are designed to be cost-effective, enhancing accessibility for SMEs with limited budgets. For example, cloud-based solutions and pay-as-you-go models help mitigate upfront costs. SMEs often perceive the adoption of connected manufacturing technologies as a strategy to gain a competitive edge, improve operational efficiency, and meet evolving customer expectations, particularly in sectors where technological innovation drives differentiation. Industry 4.0 initiatives supported by governmental bodies and industry associations promote digital transformation across manufacturing enterprises of all sizes, offering incentives or support programs to facilitate the adoption of connected manufacturing technologies, thus benefiting SMEs.
Based on application, the operation optimization segment led the market share in 2023. Operation optimization focuses on enhancing overall operational efficiency, a critical objective for manufacturers aiming to boost productivity and reduce operational costs. Leveraging connected manufacturing solutions provides real-time visibility into production processes, enabling companies to monitor key performance indicators closely and make informed decisions swiftly. This capability forms the foundation for real-time operational optimization. Manufacturers can identify and address inefficiencies promptly, resulting in tangible cost savings. Optimal resource utilization, including labor, raw materials, and machinery, contributes to increased profitability. Companies that embrace connected technologies for operation optimization gain a competitive advantage by demonstrating responsiveness to market demands, reducing time-to-market, and displaying agility in adapting to evolving production needs. Operation optimization practices align with continuous improvement principles, allowing manufacturers to refine processes based on real-time data analytics insights. This adaptability proves crucial in dynamic manufacturing environments. Tailored to address specific industry challenges and requirements, operation optimization strategies can effectively tackle operational pain points across various manufacturing sectors.
Major companies operating in the Global Connected Manufacturing Market are:
- Siemens AG
- General Electric Company (GE)
- Rockwell Automation, Inc.
- Honeywell International Inc.
- ABB Ltd.
- Schneider Electric SE
- Bosch Group
- Mitsubishi Electric Corporation
- Fanuc Corporation
- Hitachi, Ltd.
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“The Global Connected Manufacturing Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The key driver of the global connected manufacturing market lies in its ability to deliver enhanced operational efficiency through seamless connectivity. Integrating Industry 4.0 technologies, such as IoT and AI, enables real-time communication and data exchange between machines, systems, and human operators. This connectivity optimizes production processes, reduces downtime, and facilitates data-driven decision-making. As businesses prioritize efficiency gains and adaptive manufacturing, the demand for connected solutions continues to surge, propelling the global connected manufacturing market forward. The interconnected ecosystem fosters a more agile and responsive manufacturing environment, translating into improved productivity and competitiveness. Therefore, the Market of Connected Manufacturing is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Connected Manufacturing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Application (Operation Optimization, Real-Time Tracking, Predictive Maintenance), By Organization (SMSs, Large Enterprises), By Region, By Competition”, has evaluated the future growth potential of Global Connected Manufacturing Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Connected Manufacturing Market.
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