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The global smart manufacturing market size was valued at USD 236.12 billion in 2020 and 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 visualization of the entire system is the two major factors driving the market growth. Smart manufacturing has increased the adoption of digitization 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.


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