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Advanced Manufacturing - Industry - Global Market, Share and Trends 2023-2028

Report ID:

AMIND1G

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Industry:

Summary of Advanced Manufacturing

By 2030 – the Worldwide General Manufacturing Industry – a superset of Advanced Manufacturing – is expected to be Worth US$858.9 Billion. The worldwide general manufacturing market is expected to develop from its 2022 estimate of US$687.09 Billion to its 2030 estimate of US$858.9 Billion– representing a CAGR of 2.83% over the research period of 2020-2030.

To increase production output and quality, companies are increasingly turning to advanced manufacturing techniques. The term “advanced manufacturing” is used to describe a wide range of processes, such as robots, automation and additive manufacturing.

Businesses have placed a greater emphasis on advanced manufacturing in recent years as a means to boost productivity, save expenses and increase product quality. Based on our estimates – we can say that the global advanced manufacturing industry is forecasted to be a $515.18 billion industry in 2029 from $300 billion in 2023 with a CAGR of 8.99%.

Hence– rapid growth was driven by increasing automation across various industries as well as rising demand for customized and flexible manufacturing processes. Considering the growth pace of all other attributes within this wide topic of ‘Advanced Manufacturing’ causes the market to bloom exponentially.

Advanced manufacturing is being reshaped by several converging technological disruptions including automation, robotics, 3D printing, artificial intelligence and the Internet of Things. The ability to digitally model, simulate and optimize manufacturing processes before producing physical parts and products is enabling unprecedented levels of customization, efficiency and data-driven insights.

Emerging technologies like -additive manufacturing – allow for on-demand production of complex parts without traditional tooling or manufacturing setup costs.

Recent Trends and Insights

Increased focus on human-robot collaboration which are new and upcoming within this domain. Industries like – automotive and food processing are increasingly adopting collaborative robotics solutions that allow humans and robots to work safely alongside each other. This brings more flexibility in production line integration.

Advances in additive manufacturing– The use of 3D printing for metals like titanium and aluminum alloys is growing in aerospace, medical implants and high-performance automotive parts due to new design possibilities for lightweighting and performance. Government support for innovation led to upscaling the manufacturing process.

Programs like – Ontario’s Regional Development initiative are investing over $100 million during 2019-23 to foster innovative manufacturing practices. This will help companies boost production capacity– diversify product portfolios and automate processes to improve competitiveness. Focus on efficiency and customer centricity- Manufacturers are using technologies to reduce costs, streamline operations and better serve evolving customer needs.

Automation is allowing the retention of skilled labor by taking over repetitive tasks. The confluence of these trends is transforming manufacturing globally to be more collaborative, adaptive and responsive to market demands.

Product Insights

Industry 4.0 adoption is being driven by the need for advanced technologies that enable flexible, customized mass production to address dynamic customer demands. Integrating IoT, AI, cloud and other digital technologies allows industry players to remotely monitor equipment– predict maintenance needs and optimize processes for higher efficiency.

The pandemic further accelerated digital transformation efforts as manufacturers looked to leverage Industry 4.0 solutions to maintain operations amid disruptions. Major industry sectors like automotive, electronics, manufacturing are heavily investing in smart factories to gain competitive edge through superior quality, reduced downtime and waste.

Government initiatives in various countries promote Industry 4.0 adoption through incentives, skill development programs and funding for technology infrastructure. This is expected to boost market growth rates.

While initial investments are high – Industry 4.0 enables long-term savings through automation, data-driven insights and enhanced collaboration across value chains.

The Global Industry 4.0 Market is valued at USD 100.32 Billion in the year 2021 and is projected to reach a value of USD 352.7 Billion by 2029. The Global Industry 4.0 Market is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 17% over the forecast period.

The confluence of these factors is driving exponential growth in the global Industry 4.0 market size over the forecast period through the next phase of industrial revolution. Government spending increases to accelerate the rollout of smart manufacturing in the face of the pandemic which makes this industry to boom at an precedented pace. The global smart manufacturing market size to grow from USD 278.0 billion in 2022 to USD 666.04 billion by 2029– growing at CAGR of 13.29% during forecast period.

Key Companies

Some major players within this vast domain of industry are

  • 3D Systems
  • Stratasys
  • Siemens
  • Mitsubishi Electric
  • General Electric
  • JAKKS Pacific, Inc.
  • Mahindra and Mahindra LTD.
  • ABB LTD.
  • Cisco Systems
  • Advanced Metallurgical Group

Regional Analysis

North America and Asia Pacific currently dominate the advanced manufacturing market due to their large industrial bases and supportive government policies.

Within Asia Pacific – China is a major market driven by the government’s “Made in China 2025” initiative to transform traditional industries. Other regions are also witnessing rapid growth through programs like the National Policy on Electronics which aims to promote local manufacturing of electronics and components.

Japan’s “Society 5.0” vision and investments in robotics, IoT & AI are fueling smart factories. The government is also incentivizing factory modernization that leads to an increase in the employment rate as well.

In Europe – Industry 4.0 adoption is gaining momentum with a handful of countries being noticed as leaders. Initiatives like the Revitalizing program in the UK promote technologies like collaborative robotics.

Within the Southern American domain – regions are focusing on automation to gain scale in semiconductor and electronics manufacturing for global supply chains. Growth opportunities also exist in countries like Brazil, South Africa and Mexico due to policy support for advanced manufacturing.

The competitive and supportive ecosystem across regions will likely see continued expansion of smart factories globally.

Market Segmentation

By Type:

  • Additive manufacturing/3D printing
  • Automation/robotics
  • Industrial internet of things (IIoT) and industrial analytics
  • Plant asset management (PAM)
  • Manufacturing execution systems (MES)
  • Industrial controls

By End User:

  • Manufacturer and Retailer
  • Distinct industries like automotive, aerospace, electronics
  • Process industries like oil & gas, chemicals, pharmaceuticals
  • Energy and utilities
  • Food and beverage

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Our Methodology

We have offered a well-founded review of the smart manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Global Size of the Advanced Manufacturing Industry is USD 300 Billion in 2023 and is expected to grow to USD 515.18 Billion by 2029

The CAGR of the Advanced Manufacturing Industry Market in the Global Region is 8.99%

The North America region accounts for 31% of the total market share of the Advanced Manufacturing Industry Market

The key players in the Advanced Manufacturing Industry Market in the Global Region are ABB Ltd., Siemens AG, General Electric and Mitsubishi Electric Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Advanced Manufacturing Industry Market in the Global Region are Customer demand, Technology adoption, Competition and Sustainability. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Advanced Manufacturing

By 2030 – the Worldwide General Manufacturing Industry – a superset of Advanced Manufacturing – is expected to be Worth US$858.9 Billion. The worldwide general manufacturing market is expected to develop from its 2022 estimate of US$687.09 Billion to its 2030 estimate of US$858.9 Billion– representing a CAGR of 2.83% over the research period of 2020-2030.

To increase production output and quality, companies are increasingly turning to advanced manufacturing techniques. The term “advanced manufacturing” is used to describe a wide range of processes, such as robots, automation and additive manufacturing.

Businesses have placed a greater emphasis on advanced manufacturing in recent years as a means to boost productivity, save expenses and increase product quality. Based on our estimates – we can say that the global advanced manufacturing industry is forecasted to be a $515.18 billion industry in 2029 from $300 billion in 2023 with a CAGR of 8.99%.

Hence– rapid growth was driven by increasing automation across various industries as well as rising demand for customized and flexible manufacturing processes. Considering the growth pace of all other attributes within this wide topic of ‘Advanced Manufacturing’ causes the market to bloom exponentially.

Advanced manufacturing is being reshaped by several converging technological disruptions including automation, robotics, 3D printing, artificial intelligence and the Internet of Things. The ability to digitally model, simulate and optimize manufacturing processes before producing physical parts and products is enabling unprecedented levels of customization, efficiency and data-driven insights.

Emerging technologies like -additive manufacturing – allow for on-demand production of complex parts without traditional tooling or manufacturing setup costs.

Recent Trends and Insights

Increased focus on human-robot collaboration which are new and upcoming within this domain. Industries like – automotive and food processing are increasingly adopting collaborative robotics solutions that allow humans and robots to work safely alongside each other. This brings more flexibility in production line integration.

Advances in additive manufacturing– The use of 3D printing for metals like titanium and aluminum alloys is growing in aerospace, medical implants and high-performance automotive parts due to new design possibilities for lightweighting and performance. Government support for innovation led to upscaling the manufacturing process.

Programs like – Ontario’s Regional Development initiative are investing over $100 million during 2019-23 to foster innovative manufacturing practices. This will help companies boost production capacity– diversify product portfolios and automate processes to improve competitiveness. Focus on efficiency and customer centricity- Manufacturers are using technologies to reduce costs, streamline operations and better serve evolving customer needs.

Automation is allowing the retention of skilled labor by taking over repetitive tasks. The confluence of these trends is transforming manufacturing globally to be more collaborative, adaptive and responsive to market demands.

Product Insights

Industry 4.0 adoption is being driven by the need for advanced technologies that enable flexible, customized mass production to address dynamic customer demands. Integrating IoT, AI, cloud and other digital technologies allows industry players to remotely monitor equipment– predict maintenance needs and optimize processes for higher efficiency.

The pandemic further accelerated digital transformation efforts as manufacturers looked to leverage Industry 4.0 solutions to maintain operations amid disruptions. Major industry sectors like automotive, electronics, manufacturing are heavily investing in smart factories to gain competitive edge through superior quality, reduced downtime and waste.

Government initiatives in various countries promote Industry 4.0 adoption through incentives, skill development programs and funding for technology infrastructure. This is expected to boost market growth rates.

While initial investments are high – Industry 4.0 enables long-term savings through automation, data-driven insights and enhanced collaboration across value chains.

The Global Industry 4.0 Market is valued at USD 100.32 Billion in the year 2021 and is projected to reach a value of USD 352.7 Billion by 2029. The Global Industry 4.0 Market is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 17% over the forecast period.

The confluence of these factors is driving exponential growth in the global Industry 4.0 market size over the forecast period through the next phase of industrial revolution. Government spending increases to accelerate the rollout of smart manufacturing in the face of the pandemic which makes this industry to boom at an precedented pace. The global smart manufacturing market size to grow from USD 278.0 billion in 2022 to USD 666.04 billion by 2029– growing at CAGR of 13.29% during forecast period.

Key Companies

Some major players within this vast domain of industry are

  • 3D Systems
  • Stratasys
  • Siemens
  • Mitsubishi Electric
  • General Electric
  • JAKKS Pacific, Inc.
  • Mahindra and Mahindra LTD.
  • ABB LTD.
  • Cisco Systems
  • Advanced Metallurgical Group

Regional Analysis

North America and Asia Pacific currently dominate the advanced manufacturing market due to their large industrial bases and supportive government policies.

Within Asia Pacific – China is a major market driven by the government’s “Made in China 2025” initiative to transform traditional industries. Other regions are also witnessing rapid growth through programs like the National Policy on Electronics which aims to promote local manufacturing of electronics and components.

Japan’s “Society 5.0” vision and investments in robotics, IoT & AI are fueling smart factories. The government is also incentivizing factory modernization that leads to an increase in the employment rate as well.

In Europe – Industry 4.0 adoption is gaining momentum with a handful of countries being noticed as leaders. Initiatives like the Revitalizing program in the UK promote technologies like collaborative robotics.

Within the Southern American domain – regions are focusing on automation to gain scale in semiconductor and electronics manufacturing for global supply chains. Growth opportunities also exist in countries like Brazil, South Africa and Mexico due to policy support for advanced manufacturing.

The competitive and supportive ecosystem across regions will likely see continued expansion of smart factories globally.

Market Segmentation

By Type:

  • Additive manufacturing/3D printing
  • Automation/robotics
  • Industrial internet of things (IIoT) and industrial analytics
  • Plant asset management (PAM)
  • Manufacturing execution systems (MES)
  • Industrial controls

By End User:

  • Manufacturer and Retailer
  • Distinct industries like automotive, aerospace, electronics
  • Process industries like oil & gas, chemicals, pharmaceuticals
  • Energy and utilities
  • Food and beverage

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Our Methodology

We have offered a well-founded review of the smart manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Global Size of the Advanced Manufacturing Industry is USD 300 Billion in 2023 and is expected to grow to USD 515.18 Billion by 2029

The CAGR of the Advanced Manufacturing Industry Market in the Global Region is 8.99%

The North America region accounts for 31% of the total market share of the Advanced Manufacturing Industry Market

The key players in the Advanced Manufacturing Industry Market in the Global Region are ABB Ltd., Siemens AG, General Electric and Mitsubishi Electric Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Advanced Manufacturing Industry Market in the Global Region are Customer demand, Technology adoption, Competition and Sustainability. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

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Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

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Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.