How Smart Manufacturing Platforms Help To Improve Productivity In Manufacturing Industry

Research Technology

The smart manufacturing platform enables the utilization of interconnected machinery for carrying out automated production of the manufacturing entity. These manufacturing entities may be discrete industries such as automotive or process industries such as chemicals and oil and gas. Smart manufacturing reduces the production downtime while significantly improving the efficiency of operation. This results in enhanced productivity and long-term cost benefits.

The smart manufacturing platform market is anticipated to grow in the forecast period owing to the introduction of industry 4.0 and increasing need for streamlined and automated data. Besides, support for industrial automation from the government is expected to fuel the growth of the smart manufacturing platform market. However, a lack of skilled workforce for IoT may hinder market growth. On the other hand, the advances in cloud technologies are likely to showcase growth opportunities for the smart manufacturing platform market.

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Smart manufacturing platform is associated with the concept of smart manufacturing or Industry 4.0 that enables companies to connect to Industrial Internet of Things (IIoT) emphasizing on collecting, analyzing, and making use of as much data as possible, turn data insights into direct action, and create competitive advantage. Smart manufacturing platform usually finds its usability for performance optimization, asset management, condition monitoring, predictive maintenance, etc.

Based on Type, Device Management segment is expected to grow at a significant rate during the forecast period. The rise in automation is resulting in the increasing implementation of IoT devices in various industries. As many IoT deployments comprise hundreds of thousands to millions of devices, it becomes important to track, monitor, and manage connected device fleets. Device management platform enables users to track, monitor, and manage IoT devices.

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By Geography, Asia Pacific region is anticipated to exhibit the considerable growth of the global Clean room lighting market. Asia Pacific is likely to be the fastest growing region for the smart manufacturing platform market in the coming years. Asia Pacific has become a global focal point for large investments and business expansions, thereby providing opportunities for the smart manufacturing platform market.

Some of the key players in Global Smart Manufacturing Platform market are:
3d Systems, ABB, Cisco, Daifuku, Emerson, GE, Honeywell, IBM, Jbt, Oracle, Rockwell, Schneider, Siemens, Stratatys, and Yokogawa.

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