European smart manufacturing market is projected to grow at a significant CAGR of around 11.1% during the forecast period (2020-2026). The market for smart manufacturing in European is projected to grow at a high rate during the forecast period, backed by the rising focus of the government towards one of the largest contributing sectors of the GDP, the manufacturing sector. As per the European Commission, the manufacturing sector contributes to around 16.0% of Europe’s GDP. The manufacturing sector is considered as the strong asset of the European economy, accounts for around 33 million jobs and 2 million enterprises. Therefore, the competitiveness of the country significantly depends on the manufacturing sector, which can be enhanced with the integration of advanced ICT technologies, as per the European Commission.
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European 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)
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
