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Smart manufacturing market to witness massive growth by 2025

Source:Ringier Metalworking Release Date:2019-08-21 173
MetalworkingSemiconductor/Electronic ChipSemiconductor / Electronic Chip
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The global smart manufacturing platform market is expected to reach US$16.29 billion by 2026 growing at a CAGR of 20.3% during the forecast period, reports HTF Market Intelligence. 

Some of the key factors influencing the market growth are rising government investments supporting industrial automation and increase in the adoption industry 4.0 solutions are the major factors boosting market growth. However, threats related to cybersecurity complexity in implementing smart manufacturing systems are the propelling factors.

 Asia Pacific region is anticipated to exhibit the considerable growth of the global clean room lighting market. It is likely to be the fastest growing region for the smart manufacturing platform market in the coming years. Asia Pacific has become a global focal point for large investments and business expansions, thereby providing opportunities for the smart manufacturing platform market. 

The rise in automation is resulting in the increasing implementation of IoT devices in various industries. As many IoT deployments comprise hundreds of thousands to millions of devices, it becomes important to track, monitor, and manage connected device fleets. Device management platform enables users to track, monitor, and manage IoT devices. 

 

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