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Smart Manufacturing Platform Market : Opportunities Brian Burns Panthers Jersey , Challenges and Trends 2024

by prashantv · June 21, 2019


According to MarketsandMarkets, the global聽smart manufacturing platform market聽is projected to grow from USD 4.4 billion in 2019 to USD 10.8 billion by 2024; it is expected to grow at a CAGR of 19.7%.聽Major factors driving the growth of the smart manufacturing platform market include the rising importance of Industry 4.0 & smart factory, government support to increase industrial automation in various countries,聽聽and focusing on end-user industries to reduce operational costs & enhance efficiency.


The process industry is expected to account for the largest share of the smart manufacturing platform market during 2019鈥?024. Oil & gas Curtis Samuel Panthers Jersey , chemicals, energy & power, food & beverages, pharmaceuticals, metals & mining are among a few major process industries. The emergence of Industry 4.0 and the evolution of big data have provided unique opportunities to process industries. Process industries require critical monitoring and controlling processes.聽聽Smart manufacturing platforms help improve connectivity Christian McCaffrey Panthers Jersey , efficiency, scalability, and achieve time & cost savings for end-users. Platforms help to connect assets and collect, monitor and analyze data in real-time which in turn improves efficiency and profitability


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The device management platform is expected to capture the largest market share and is likely to witness a higher CAGR in the smart manufacturing platform market during the forecast period. The emergence of the IIoT, smart manufacturing Donte Jackson Panthers Jersey , Industry 4.0, digitization, and connected enterprise have resulted in end-user industries adopting advanced solutions in various sectors. Abundant data generates from multiple devices in plants. It becomes vital to manage these devices, and the data generated from these devices to operate more efficiently. The device management platform help in various aspects of devices including the ability to connect and disconnect new devices, control various devices DJ Moore Panthers Jersey , to view details of devices, and check their status to monitor devices remotely, among others


Cloud deployments expected to grow at the highest rate for smart manufacturing platform market during the forecast period as it offers advantages such as greater scalability, cost-effectiveness, reliability which means no single point of failure will interrupt entire service Jordan Scarlett Jersey , and an easy backup.


In terms of聽geographic coverage, the聽smart manufacturing platform market聽has聽been segmented聽into North America, Asia Pacific (APAC), Europe, and Rest of World (RoW). North America is expected to continue to lead the smart manufacturing platform market during 2019鈥?024. North America includes countries such as the US Christian Miller Jersey , Canada, and Mexico. North America is one of the most lucrative markets and one of the largest manufacturing hubs in the world. Strong economic position and active government support have contributed to the large-scale adoption of advanced technologies in the industrial segment. Rising adoption of automation in the industrial sector and implement. Cheap Jerseys Free Shipping Cheap NFL Jerseys Cheap Wholesale Jerseys Wholesale Jerseys China Wholesale Jerseys Cheap Cheap NBA Hoddies Wholesale Shirts Free Shipping Cheap T-shirts Free Shipping Cheap Hoddies Wholesale Cheap NCAA Hats