Smart manufacturing market size is increasing

The smart manufacturing market is showing growth, and it predicted to just miss $400 billion by the year 2025.

"The report says the market size will reach $395.2 billion in 2025, up from $172.34 billion in 2016. Key growth factors include an increasing demand for connected supply chains and knowledge-based manufacturing processes, according to the report."

This is in part due to important technology becoming more readily available. Globally, governments have invested in the market and businesses are buying in. How will this impact the overall smart manufacturing market size?

Recommended ReadReport: Smart manufacturing market to reach almost $400 billion by 2033Source: http://www.techrepublic.com

The global smart manufacturing market size is predicted to hit nearly $400 billion by 2025, according to a new report from Grand View Research. The report says the market size will reach $395.2 billion in 2025, up from $172.34 billion in 2016. Key growth factors include an increasing demand for connected supply chains and knowledge-based manufacturing processes, according to the report. Increasing availability of certain technologies, including 3D printing and plant asset management solutions, to SMBs is also helping to expedite the growth. Out of the available options, digital twin and real-time analytics are expected to provide the most growth for businesses as they digitize. Read More