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Published on: Monday, Mon, 09 Dec 2019 ● 2 Min Read
Chicago, December 2019 – Smart manufacturing is a broad concept; it is not something that can be implemented in a production process directly. It is a combination of various technologies and solutions which collectively, if implemented in a manufacturing ecosystem, is termed as smart manufacturing. All these technology and solution can be categorised under three broad categories as connectivity, intelligence, and flexible automation, and is broadly called as enabling technology.
Data is at the core of growth of smart manufacturing where data will decide what to do and when to do. Analysis of these data will help in making the production process efficient. Companies are constantly investing and exploring the benefits from these enablers, said, Sachin Garg – Associate Vice President, MarketsandMarkets™.
Some of the prominent enabling technology in today's manufacturing ecosystem are mentioned below. Other IT related technology includes Human Machine Interface, Enterprise Manufacturing Intelligence, Plant Asset Management, Manufacturing Execution System, Industrial Communication, and Warehouse Management Systems.
These technologies are yet to evolve and adopted at full scale by the manufacturing ecosystem. However, these technologies may bring big changes in the way manufacturing is being carried out in current scenario.
According to a report from MarketsandMarkets™, a global research firm, the Smart Manufacturing Market is expected to reach USD 299 Billion by 2023, growing at a CAGR of 12% between 2018 and 2023.
MarketsandMarkets™ has done a detailed study on below mentioned enabling technology with respect to the smart manufacturing ecosystems:
In addition to historical trends and forecasts, the report highlights some key players, including the following: ABB (Switzerland); Cisco (US); Emerson (US); GE (US); Honeywell (US); IBM (US); Oracle (US); PTC (US); Rockwell (US); SAP (Germany); Schneider (France); Siemens (Germany); and Yokogawa (Japan).
