The global smart manufacturing platform market is expected to reach a market size of USD 29.64 Billion in 2028 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research. This steady growth can be attributed to rising need for real-time production monitoring and rising need to increase resource efficiency in a manufacturing network through dynamic sharing of manufacturing services, which is driving adoption of cloud manufacturing platforms.

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Key Highlights of Report

  • In June 2020, Microsoft announced the acquisition of CyberX to accelerate and secure IoT deployments of customers. With the help of CyberX, customers can manage and improve the security postures of existing IoT devices. CyberX is expected to help customers see a digital map of thousands of devices across a factory floor, which would securely enable smart manufacturing across production facilities and the supply chain.
  • The performance optimization segment accounted for largest market share of 49.8% in 2019. Adoption of performance optimization applications and smart manufacturing platforms has been growing across industries such as energy & power, automotive, oil & gas, and electronics & semiconductors, which is driving revenue growth of the performance optimization segment to a significant extent.

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Emergen Research has segmented the global smart manufacturing platform market on the basis of application, industries, type, and region:

  • Application Outlook (Revenue, USD Billion; 2021–2028)
    • Asset & Condition Monitoring
    • Performance Optimization
    • Others
  • Industries Outlook (Revenue, USD Billion; 2021–2028)
    • Discrete (Medical Devices, Electronics & Semiconductor, Automotive, Industrial Manufacturing, Aerospace & Defense)
    • Process (Chemicals, Food & Beverages, Oil & Gas, Metals & Mining, Power & Energy, Pharmaceuticals)
  • Type Outlook (Revenue, USD Billion; 2021–2028)
    • Connectivity Management
    • Device Management
    • Application Enablement
  • Regional Outlook (Revenue, USD Billion; 2021–2028)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. U.K.
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of MEA