Top Companies in the Smart Manufacturing Market | Top Key Players Historic and Future scope by VMR
Smart Manufacturing (SM) is a technology-driven approach to production process monitoring that relies on internet-connected gear. It also identifies ways to increase overall production performance by automating procedures and utilizing data analytics.
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Upcoming Trends in Smart Manufacturing Market
The Global Smart Manufacturing Market is valued at USD 87.5 Billion in the year 2021 and is projected to reach a value of USD 237.4 Billion by the year 2028. The Global Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 18.10% over the forecast period. In recent years, parallel to the development of information-communication technologies, the Internet, wireless networks, production networks, developed and industrial production which experienced strong and profound changes. Manufacturing has become more flexible than ever too complex modern market turbulence. Modern concepts of production systems require vertical and horizontal integration of all participants in the production process. This integration determines the foundation of a new, radical change in the mode of production by German industrialists called the industry is 4.0. In this, the smart production environment, structuring the smart factory.
Moreover, smart factories are in high demand owing to the advantages associated with the product quality, compact size, functionality, and precise manufacturing requirements, which are further boosting the growth of Smart Manufacturing Market.
Some of the key players operating in the Smart Manufacturing Market are listed below:
|
Company Name |
Revenue in USD |
|
$28 Billion |
|
$7 Billion |
|
$19 Billion |
|
$74 Billion |
|
$70 Billion |
|
$30 Billion |
|
$7 Billion |
|
$34 Billion |
ABB Ltd, formerly ASEA Brown Boveri, is a Swedish–Swiss multinational corporation headquartered in Zürich, Switzerland, operating mainly in robotics, power, heavy electrical equipment, and automation technology areas. The company is listed on the stock market as ABBN (SWX). In 2021, the company generated revenue of USD 28.9 billion and has 1,05,000 currently working.
Legrand is a French industrial group historically based in Limoges in the Limousin region. In 2011, the firm was the largest global producer of switches and sockets, with 20% of the global market, and in cable management, generating 75% of its turnover internationally.
Eaton Corporation PLC is a multinational power management company with 2020 sales of $17.86 billion, founded in the United States with global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio.
General Electric Company is an American multinational conglomerate incorporated in New York State and headquartered in Boston. The company is listed as GE (NYSE) on the stock market.
Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe headquartered in Munich with branch offices abroad. The company is listed as SIE (ETR) in the stock market and generates revenue of USD 94.18 billion in 2021. The company has various subsidiaries and currently holds a major patent in the field of Smart Manufacturing.
Schneider Electric SE is a French multinational company providing energy and automation digital solutions for efficiency and sustainability. It addresses homes, buildings, data centers, infrastructure, and industries, by combining energy technologies, real-time automation, software, and services. The company is listed as SU (EPA) in the stock market and generated revenue of USD 31.35 billion in 2021.
Rockwell Automation, Inc. is an American provider of industrial automation whose brands include Allen-Bradley, FactoryTalk software, and LifecycleIQ Services. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 24,500 people and has customers in more than 100 countries worldwide. The company is listed as ROK (NYSE) on the New York Stock market.
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. The company is listed as HON (NASDAQ) on the stock market.
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