The global Smart Manufacturing Market size is projected to be valued at US$297.20 billion in 2023 and reach US$787.54 billion by 2030, growing at a CAGR of 14.9% according to a new report by The Research Insights. Key drivers of the smart manufacturing market growth consist of Industry 4.0 technology adoption such as IoT, AI, and robotics together with rising demands for automated operations and operational efficiency alongside government digital transformation initiatives and the requirement for real-time data-based decision-making.
According to an exhaustive report by The Research Insights, the Smart Manufacturing Market is experiencing significant growth. The rise of smart manufacturing systems and solutions stems from the necessity to optimise resource utilisation along with reducing waste. The ‘Manufacturing USA’ government initiative strengthens market growth through enhanced research and development efforts that target manufacturing technologies including machine condition monitoring and AI. New technologies including human machine interface and edge computing function as growth-driving factors by reducing manufacturing downtime and boosting productivity with modern automated production techniques.
