Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Asia Pacific is the largest region in the global smart manufacturing market. The Asia Pacific Smart Manufacturing Market size projected to grow at a CAGR of 15.7% during the forecast period. The global market is projected to grow from USD 277.81 billion in 2022 to USD 754.1 billion by 2030. Our report on the Asia Pacific smart manufacturing market covers the following countries/regions – China, India, Japan, Southeast Asia, and the Rest of Asia Pacific. Fortune Business Insights presents this information in their report titled "Asia Pacific Smart Manufacturing Market, 2023–2030."
The fourth industrial revolution, often known as smart manufacturing or simply Industry 4.0, has gained popularity in the Asia Pacific region in recent years. The region’s leading adopters of smart manufacturing are a number of nations. As part of the Made in China 2025 strategy, China, the world’s largest manufacturing economy, is spending extensively in this field. Due to its strong manufacturing base, superior research and development skills, and supporting governmental regulations, the region is well-positioned to take the lead and increase the market share in future.
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KEY INDUSTRY DEVELOPMENTS:
February 2023: Taiwan Semiconductor Manufacturing Company (TSMC) announced its collaboration with Singapore’s Nanang Technological Group (NTU) to develop new smart manufacturing technologies. The partnership will focus on developing advanced analytics and artificial intelligence solutions.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 15.7% |
| 2030 Value Projection | USD 754.1 billion |
| Base Year | 2022 |
| Asia Pacific Smart Manufacturing Market Share in 2022 | USD 277.81 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 80 |
| Segments Covered | By Component, Deployment, Enterprise Size, Industry and Country/Sub-Region |
| Asia Pacific Smart Manufacturing Market Growth Drivers | Wider Adoption of AI is Transforming the Manufacturing Industry in Asia Pacific |
| Presence of Strong Manufacturing Base to Accelerate Market Growth |
Report Coverage:
The research on the Asia Pacific market includes key areas to understand the industry better. Furthermore, the research provides insights into the most recent market trends as well as analyses of technologies implemented globally. Further, it highlights the growth restrictions and elements, allowing the reader to understand the market.
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Market Drivers and Restraints:
Strong Manufacturing Base will Boost Market Growth
Due to the existence of the strong industrial economies in the world, including China, Japan, South Korea, and India, Asia Pacific has always had a strong manufacturing base. This gives the region a strong base on which to deploy smart manufacturing technology.
Strong government backing, technological improvement in the area, rising productivity, and efficiency demands, as well as rising customization needs, are a few other key variables propelling the market development.
However, lack of skilled workers is a factor that may restrain the Asia Pacific smart manufacturing market growth.
Market Segmentation:
Based on the component, the market is categorized into solution and services.
Based on deployment, the market is categorized into cloud and on-premises.
Based on enterprise size, the market is segmented into large enterprises and small & medium enterprises.
Based on industry, the market is segmented into discrete industry and process industry vertical.
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Competitive Landscape
Companies Focus on Robust Distribution Networks to Maintain Competitive Landscape
The Asia Pacific smart manufacturing market is incredibly dynamic and continually changing. Several businesses, from major global organizations to smaller regional competitors, are active in this market.
Many global leaders have a strong presence in Asia Pacific, including Fanuc, Mitsubishi Electric, and Siemens. While international firms have dominated the Asia Pacific smart manufacturing market share, local players have been vying for market share as they concentrate on creating solutions that are specifically suited to the needs of the Asia market such as low-cost.
List of the Companies Operating in the Market:
- Mitsubishi Electric Corporation (Japan)
- Toshiba Corporation (Japan)
- Tata Consultancy Services (India)
- Larsen & Toubro (India)
- Foxconn Technology Group (Taiwan)
- Fanuc Corporation (Japanese)
- Inspur Group (China)
- Smart Factory (South Korea)
- Huawei Technologies (China)
- Keyence Corporation (Japan)
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Asia Pacific Smart Manufacturing Key Players Market Share/Ranking, 2022
- Asia Pacific Smart Manufacturing Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Component (USD)
- Solution
- Industrial 3D Printing
- Programmable Logic Controller (PLC)
- Product Lifecycle Management (PLM)
- Manufacturing Execution System (MES)
- Robotic Process Automation (RPA)
- Remote Monitoring software
- Supervisory Controller and Data Acquisition (SCADA)
- Others (Energy Management Systems, Fleet Management Solutions, etc.)
- Services
- Professional Services
- Managed Services
- Solution
- By Deployment (USD)
- Cloud
- On-Premises
- By Enterprise Size (USD)
- Large Enterprises
- Small & Medium Enterprises
- By Industry (USD)
- Discrete Industry
- Automotive
- Transportation
- Industrial machinery
- Medical devices
- Semiconductor and Electronics/High-Tech
- Others (Aerospace and Defense, etc.)
- Process Industry
- Pharmaceuticals
- Mining and Metals
- Chemicals
- Pulp and Paper
- Others (Cable, etc.)
- Discrete Industry
TOC Continued…!
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