Asia-Pacific smart manufacturing market is projected to grow at a significant CAGR of around 12.1% during the forecast period (2020-2026). The market for smart manufacturing in Asia-Pacific is projected to grow at a high rate during the forecast period, backed by the rising industrialization and manufacturing sector across the emerging nations of the region, such as India and China. The government of these respective countries have launched initiatives such as ‘Make in India’ and ‘Made in China 2025’, which is supporting the local manufacturing hub, including the small and medium enterprises (SMEs) in the region. Therefore, with the growth of the manufacturing sector, the demand for smart manufacturing technologies is expected to rise in the region during the forecast period.
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Moreover, China is considered as an electronics innovation hub and has a huge expertise in the production of electronics, including the computer hardware and smart sensors. Therefore, with the presence of such a large number of local manufacturers of the electronic components used in the deployment of smart manufacturing technologies, the installation rate is high in the country. There are various start-ups in China that are engaged in the manufacturing of IoT and AI devices, creating prototypes and marketing the products at a low-cost. Therefore, the market for smart manufacturing industry in Asia-Pacific is primarily driven by China, followed by Japan and India.
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Asia-Pacific Smart Manufacturing Market – Segmentation
By Component
· Hardware
· Software & Services
By Technology
· Programmable Logic Controller (PLC)
· Supervisory Controller and Data Acquisition (SCADA)
· Machine Vision
· Distributed Control System (DCS)
· Product Lifecycle Management (PLM)
· Others (3D Printing)
By End-Use Industry
· Healthcare
· Automotive
· Aerospace & Defense
· Oil & Gas
· Food & Beverages
· Others (Chemical and Metals and Mining)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
