The Extent of Smart Manufacturing Global Trends

The Extent of Smart Manufacturing Global Trends

A Disruptive Business Environment and an Increasingly Digital Economy Necessitate Smart Manufacturing

RELEASE DATE
22-Nov-2023
REGION
Global
Research Code: K961-01-00-00-00
SKU: IA_2023_347
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Description

Manufacturers face several challenges—the continuing effects of the COVID-19 pandemic, a shortage of skilled workers, supply chain disruptions, cybersecurity issues, and geopolitical risks such as the Russo-Ukrainian War. To thrive, they need to be agile in an increasingly disruptive world while meeting their business and operational objectives.

Smart manufacturing enables manufacturers to address current and evolving challenges. The use of AI, ML, cloud, AR, VR, IIOT, digital twins, robotics, and advanced analytics helps manufacturers address specific challenges. For example, the use of AR/VR can improve workforce productivity, efficiency, and safety. Easy and affordable access to technologies along with practical use cases is a driver for adoption.

In addition, the modularization of software and technology helps manufacturers make incremental investments and enjoy quick value and targeted technology adoption while providing a path to growth. Companies are moving their industrial applications to the cloud—a cloud-based smart manufacturing platform strategy helps consolidate software systems and enables effective digital transformation. Finally, ESG initiatives and sustainability goals are also priorities for manufacturers, which this research service discusses.

Author: Sankara Narayanan Venkataramani

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Smart Manufacturing Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Smart Manufacturing—Market Trends

Smart Manufacturing—Market Trends (continued)

Smart Manufacturing—Market Trends (continued)

Smart Manufacturing—Market Trends (continued)

Smart Manufacturing—A Snapshot

Smart Manufacturing—A Snapshot (continued)

Smart Manufacturing—A Snapshot (continued)

Technology Drivers

Technology Drivers (continued)

Technology Drivers (continued)

Growth Drivers

Growth Restraints

Leading Growth Obstacles and Their Impact on the Manufacturing Industry

Smart Manufacturing Solutions to Overcome Growth Obstacles

The Future of Manufacturing

Building an Effective and Resilient Supply Chain

Building an Effective and Resilient Supply Chain (continued)

Smart Manufacturing Ecosystem

Steps for Smart Manufacturing Adoption

ESG, Sustainability in Smart Manufacturing

Smart Manufacturing for a Sustainable Future

The Challenges of Disconnected, Inconsistent Data and Systems Across Silos

Lack of Process Harmonization Constrains Continuous Improvement

Smart Manufacturing and Software Systems Consolidation

Resource Optimization Increases an Organization’s Ability to Innovate

Smart Manufacturing Platforms Break Down Silos and Allow System Consolidation

Smart Manufacturing Platform

Smart Manufacturing Platform (continued)

Platform Values for Manufacturers

Companies are Moving Their Industrial Applications to the Cloud

A Multitenant Cloud SaaS Solution in Digitalization

Strategic Partnerships in Smart Manufacturing

Modularization of Software and Technology Capabilities

Modularization of Software and Technology Capabilities (continued)

Modularization Increases Accessibility and Adoption Rates Among

Companies and Their Smart Manufacturing Offerings

Companies and Their Smart Manufacturing Offerings (continued)

Companies and Their Smart Manufacturing Offerings (continued)

Companies and Their Smart Manufacturing Offerings (continued)

Companies and Their Smart Manufacturing Offerings (continued)

Companies and Their Smart Manufacturing Offerings (continued)

Case Study

Case Study (continued)

North America

Europe

APAC

MEA

Growth Opportunity 1: Smart Manufacturing for Adaptation to a Highly Dynamic Automotive Industry

Growth Opportunity 1: Smart Manufacturing for Adaptation to a Highly Dynamic Automotive Industry (continued)

Growth Opportunity 2: Smart Manufacturing for Increased Productivity and Sustainability

Growth Opportunity 2: Smart Manufacturing for Increased Productivity and Sustainability (continued)

List of Exhibits

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Related Research
Manufacturers face several challenges the continuing effects of the COVID-19 pandemic, a shortage of skilled workers, supply chain disruptions, cybersecurity issues, and geopolitical risks such as the Russo-Ukrainian War. To thrive, they need to be agile in an increasingly disruptive world while meeting their business and operational objectives. Smart manufacturing enables manufacturers to address current and evolving challenges. The use of AI, ML, cloud, AR, VR, IIOT, digital twins, robotics, and advanced analytics helps manufacturers address specific challenges. For example, the use of AR/VR can improve workforce productivity, efficiency, and safety. Easy and affordable access to technologies along with practical use cases is a driver for adoption. In addition, the modularization of software and technology helps manufacturers make incremental investments and enjoy quick value and targeted technology adoption while providing a path to growth. Companies are moving their industrial applications to the cloud a cloud-based smart manufacturing platform strategy helps consolidate software systems and enables effective digital transformation. Finally, ESG initiatives and sustainability goals are also priorities for manufacturers, which this research service discusses. Author: Sankara Narayanan Venkataramani
More Information
Author Sankara Narayanan Venkataramani
Industries Industrial Automation
No Index No
Is Prebook No
Podcast No
WIP Number K961-01-00-00-00