Smart manufacturing market to reach nearly $400bn by 2025

By Jonathan Dyble
According to a new study from Grand View Research, the global smart manufacturing market is forecast to reach $395.2bn by 2025. This growth is likely t...

According to a new study from Grand View Research, the global smart manufacturing market is forecast to reach $395.2bn by 2025.

This growth is likely to come from the increasing emphasis that firms across multiple industries are placing upon both increasing production efficiency and improving transparency across their supply chains.

See also:

Advanced technologies such as automation, 3D printing, manufacturing execution systems (MES) and asset management solutions are becoming more widely available, with Small and medium enterprises (SMEs), resulting in market growth.

In particular, smart manufacturing is seeing strong growth within the automotive, oil & gas and aerospace industries, with this forecast to continue due to the growing importance of 3D printing, simulation and modelling to these industries

Government initiatives are also playing a part in this, with both industrial and developing countries aggressively looking to take advantage of the new innovative technologies available. One example of this is the Made in China 2025 program that will reportedly see $3bn invested into advanced manufacturing.

The forecast $400bn is up from the $172.3bn recorded in 2016, representing a predicted 130% growth in the industry from 2016 through 2025.

Share

Featured Articles

Elisabeth Brinton on the Microsoft Cloud for Sustainability

Microsoft’s Elisabeth Brinton discusses the Microsoft Cloud for Sustainability programme & how manufacturers are being supported by their new technology

Aiimi’s Head of Solution Engineering Matt Eustace on risks

Aiimi utilises AI to provide businesses insights that eliminate risks ‒ including how to manage sanctioned individuals in your supply chain

5 minutes with Nicolai Peitersen, co-founder of Wikifactory

Nicolai Peitersen, co-founder of Wikifactory, shares his knowledge on the Internet of Production, working in Shenzhen and supply chain logistics

Three steps to building a resilient enterprise ecosystem

Procurement & Supply Chain

Chocolate manufacturer Venchi on sustainable packaging

Procurement & Supply Chain

Sustainability goals in manufacturing need a boost with AI

AI & Automation