Product Code: GVR-2-68038-028-6
Smart Manufacturing Market Summary
The global smart manufacturing market size was valued at USD 349.81 billion in 2024 and is projected to reach USD 790.91 billion by 2030, growing at a CAGR of 14.0% from 2025 to 2030. This market expansion is driven by the widespread adoption of Industry 4.0 technologies, including IoT, AI, machine learning, and cloud computing, and the growing demand for automation & cost efficiency.
Governments worldwide are promoting smart manufacturing through initiatives focusing on research in technologies such as digital twins and machine condition monitoring. Smart manufacturing market growth is driven by the convergence of edge computing, low-power microelectronics, and AI-based analytics that enhance device intelligence beyond basic automation. This advancement enables adaptive learning, predictive maintenance, and hyper-personalized interactions, raising user expectations for seamless experience and autonomy. The integration of generative AI technologies further accelerates this transformation, turning traditional manufacturing devices into interactive digital companions that understand and anticipate operational needs. These ecosystems are becoming increasingly context-aware, responsive, and embedded across production environments, facilitating enhanced productivity, cost efficiency, and quality control.
The growing demand for seamless, always-on connectivity among industrial devices is significantly fueling the growth of the Smart Manufacturing market. Connectivity platforms supporting real-time data exchange, such as IoT sensors, smart machinery, and industrial control systems, enable devices to communicate, coordinate, and adapt to operational conditions. This ecosystem of interconnected devices helps manufacturers achieve automation, predictive maintenance, and unified process control, thereby accelerating adoption in manufacturing environments.
Additionally, rising enterprise expectations for operational efficiency, automation, and context-aware decision-making are key growth drivers. As industries demand systems that anticipate equipment needs, optimize workflows, and manage energy usage, manufacturers embed advanced sensors, AI, and connectivity into production lines. The need for smooth interoperability across equipment and software platforms pushes companies to invest in robust industrial connectivity infrastructure, edge computing capabilities, and collaborative ecosystem partnerships.
Moreover, evolving regulatory mandates and cybersecurity standards are pushing stronger adoption within the smart manufacturing industry. Government bodies require that manufacturing systems support data protection, secure firmware updates, and transparency in processing data. Platforms enabling automated alerts, anomaly detection, and secure provisioning help manufacturers comply with regulations, reducing operational risk and building trust in connected industrial ecosystems.
Furthermore, the proliferation of Industry 4.0 technologies, digital twins, and ambient intelligence is generating strong demand for integrated smart manufacturing solutions. Devices and systems become part of a unified digital ecosystem, allowing manufacturers to benefit from predictive analytics, cross-system control, and enhanced process optimization. These capabilities promote loyalty in the smart manufacturing market, as integrated solutions deliver greater value than standalone technologies.
Global Smart Manufacturing Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest technological trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the smart manufacturing market report based on component, technology, end use, and region:
- Component Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
- Technology Outlook (Revenue, USD Billion, 2018 - 2030)
- Machine Execution Systems
- Programmable Logic Controller
- Enterprise Resource Planning
- SCADA
- Discrete Control Systems
- Human Machine Interface
- Machine Vision
- 3D Printing
- Product Lifecycle Management
- Plant Asset Management
- End Use Outlook (Revenue, USD Billion, 2018 - 2030)
- Oil & Gas
- Energy & Power
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Metals & Mining
- Pulp & Paper
- Automotive
- Aerospace & Defense
- Semiconductor & Electronics
- Renewable Energy
- Medical Devices
- Heavy Machinery
- Others
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
- 1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Smart Manufacturing Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Smart Manufacturing Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Smart Manufacturing Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Smart Manufacturing Market: Component Movement Analysis, 2024 & 2030 (USD Billion)
- 4.3. Hardware
- 4.3.1. Hardware Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Software
- 4.4.1. Software Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Services
- 4.5.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Smart Manufacturing Market: Technology Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Smart Manufacturing Market: Technology Movement Analysis, 2024 & 2030 (USD Billion)
- 5.3. Machine Execution Systems
- 5.3.1. Machine Execution Systems Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Programmable Logic Controller
- 5.4.1. Programmable Logic Controller Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. Enterprise Resource Planning
- 5.5.1. Enterprise Resource Planning Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.6. SCADA
- 5.6.1. SCADA Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.7. Discrete Control Systems
- 5.7.1. Discrete Control Systems Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.8. Human Machine Interface
- 5.8.1. Human Machine Interface Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.9. Machine Vision
- 5.9.1. Machine Vision Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.10. 3D Printing
- 5.10.1. 3D Printing Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.11. Product Lifecycle Management
- 5.11.1. Product Lifecycle Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.12. Plant Asset Management
- 5.12.1. Plant Asset Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Smart Manufacturing Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Smart Manufacturing Market: End Use Movement Analysis, 2024 & 2030 (USD Billion)
- 6.3. Oil & Gas
- 6.3.1. Oil & Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Energy & Power
- 6.4.1. Energy & Power Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.5. Food & Beverages
- 6.5.1. Food & Beverages Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.6. Pharmaceuticals
- 6.6.1. Pharmaceuticals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.7. Chemicals
- 6.7.1. Chemicals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.8. Metals & Mining
- 6.8.1. Metals & Mining Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.9. Pulp & Paper
- 6.9.1. Pulp & Paper Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.10. Automotive
- 6.10.1. Automotive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.11. Aerospace & Defense
- 6.11.1. Aerospace & Defense Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.12. Semiconductor & Electronics
- 6.12.1. Semiconductor & Electronics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.13. Renewable Energy
- 6.13.1. Renewable Energy Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.14. Medical Devices
- 6.14.1. Medical Devices Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.15. Heavy Machinery
- 6.15.1. Heavy Machinery Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.16. Others
- 6.16.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Smart Manufacturing Regional Estimates & Trend Analysis
- 7.1. Smart Manufacturing Market by Region, 2024 & 2030
- 7.2. North America
- 7.2.1. North America Smart Manufacturing Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Canada Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Europe Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. UK
- 7.3.2.1. UK Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Germany Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. France
- 7.3.4.1. France Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.2. China
- 7.4.2.1. China Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.3. Japan
- 7.4.3.1. Japan Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.4. India
- 7.4.4.1. India Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.5. South Korea
- 7.4.5.1. South Korea Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.6. Australia
- 7.4.6.1. Australia Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.2. Saudi Arabia
- 7.6.2.1. Saudi Arabia Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.3. UAE
- 7.6.3.1. UAE Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.4. South Africa
- 7.6.4.1. South Africa Smart Manufacturing Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Company Market Positioning
- 8.3. Company Heat Map Analysis
- 8.4. Company Profiles/Listing
- 8.4.1. ABB Ltd.
- 8.4.1.1. Participant's Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Service Benchmarking
- 8.4.1.4. Strategic Initiatives
- 8.4.2. Cisco Systems, Inc.
- 8.4.2.1. Participant's Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Service Benchmarking
- 8.4.2.4. Strategic Initiatives
- 8.4.3. Siemens AG
- 8.4.3.1. Participant's Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Service Benchmarking
- 8.4.3.4. Strategic Initiatives
- 8.4.4. General Electric
- 8.4.4.1. Participant's Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Service Benchmarking
- 8.4.4.4. Strategic Initiatives
- 8.4.5. Rockwell Automation Inc.
- 8.4.5.1. Participant's Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Service Benchmarking
- 8.4.5.4. Strategic Initiatives
- 8.4.6. Schneider Electric
- 8.4.6.1. Participant's Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Service Benchmarking
- 8.4.6.4. Strategic Initiatives
- 8.4.7. Honeywell International Inc.
- 8.4.7.1. Participant's Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Service Benchmarking
- 8.4.7.4. Strategic Initiatives
- 8.4.8. Emerson Electric Co.
- 8.4.8.1. Participant's Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Service Benchmarking
- 8.4.8.4. Strategic Initiatives
- 8.4.9. FANUC Corporation
- 8.4.9.1. Participant's Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Service Benchmarking
- 8.4.9.4. Strategic Initiatives
- 8.4.10. Mitsubishi Electric Corporation
- 8.4.10.1. Participant's Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Service Benchmarking
- 8.4.10.4. Strategic Initiatives