Atos
GLOBAL SMART MANUFACTURING INDUSTRY MATURING AT A RAPID RATE
competitors . The technology landscape is going to be dominated by this ,” he says .
He goes on to say that there is still lots of work to do in terms of the emergence , development and expansion of IoT technologies .“ I don ’ t think businesses are quite there yet when it comes to stable and reliable IoT technologies because we ’ re not at the point where people fully understand and know what exactly to do with them .
“ Over the next few years , we will start to see the emergence of some key players in this space - this is hugely exciting and will enable lots of new business models , the likes of which we have barely begun to think about .”
The global smart manufacturing market size was valued at USD 236.12 billion in 2020 . It is expected to expand at a compound annual growth rate ( CAGR ) of 12.4 % from 2021 to 2028 . The industry is focusing on integrating innovation and efficiency , as manufacturing processes are maturing at a rapid pace . The industry is set to adopt smart manufacturing practices across various domains . The need to increase productivity and enhance visualisation of the entire system are the two major factors driving the market growth . Smart manufacturing has increased the adoption of digitisation in various attributes of the entire supply chain of manufacturing companies . Major technological advancements have been witnessed in data analytics , predictive maintenance , and industrial networking . Numerous manufacturing units have adopted one or the other form of software systems . The systems are expected to be consolidated and streamlined over a single platform for providing real-time information and insights in the forthcoming years .
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