Smart Manufacturing Technology Market Size, Share, Growth and Industry analysis, By Type (Manufacturing IT, Automation Control System, Instrumentation & Field Devices), By Application (Automotive, Aerospace & Defense, Chemicals & Materials, Healthcare, Industrial Equipment, Electronics, Oil & Gas, Others) and Regional Forecast to 2034

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SMART MANUFACTURING TECHNOLOGY MARKET OVERVIEW

The global smart manufacturing technology market size was valued at USD 343.77 billion in 2025 and is expected to reach USD 1010.22 billion by 2034, growing at a compound annual growth rate (CAGR) of about 12.72% from 2025 to 2034.

The United States Smart Manufacturing Technology Market size is projected at USD 115.75 Billion in 2025, the Europe Smart Manufacturing Technology Market size is projected at USD 92.92 Billion in 2025, and the China Smart Manufacturing Technology Market size is projected at USD 90.51 Billion in 2025.

 The global COVID-19 pandemic has been unprecedented and staggering, with smart manufacruring technology experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Smart manufacturing technology is an advanced technology. It is a combination of several solutions and technologies which collectively if implemented in a manufacturing ecosystem.

Increase in government support and growing demand for smart manufacturing are estimated to fuel market growth. Rising research and development activities and growing focus on lot innovation. Increase in research centers and financial support for new loT research projects are predicted to expand market growth. Growing adoption of disruptive technologies is estimated to augment market growth. Rapid adoption of digitalization and advanced technology are anticipated to accelerate market progress. However, high investment in smart manufacturing solutions to hamper market growth in the forthcoming years.

KEY FINDINGS

COVID-19 IMPACT

Lockdown Restrictions Affected Supply and Chain Disruption

Increasing number of coronavirus cases globally impacted the economy in every industry. An outbreak of COVID-19 pandemic developed a critical gap between the supply chain and manufacturing units. Lockdown restrictions affected production lines. However, post-pandemic is anticipated to robust market growth owing to the re-opening of end-user industries such as aerospace & defense, chemicals & materials, healthcare, automotive, industrial equipment, electronics, oil & gas, and others.

LATEST TRENDS

Growing Demand for Big Data and 5G Network to Fuel Market Growth.

Big data is one of the crucial applications, and the growing adoption of technology are predicted to surge market growth. The increasing volume of unstructured and structural data is expected create massive demand for big data. Growing adoption of the internet of things (loT) in vehicles, smart devices, and sensors are predicted to fuel market progress. An increase in adoption of artificial intelligence solutions is estimated to fuel market growth. Further, growing adoption of autonomous/self-driving vehicles cars, intelligent thermostats, smart home, smart city solutions, and pacemakers. Such broad adoption of smart technology is predicted to fuel market growth. For example, Tesla introduced self-driving cars, which witnessed a positive response among consumers. Therefore, these factors are responsible for accelerating smart manufacturing technology market growth during the forecast period. 

• In 2023, a record 276,288 industrial robots were installed worldwide—accounting for 51 percent of all global industrial robot deployments—bringing the total population of factory robots past 4 million units and underscoring accelerated smart factory adoption

• Under Horizon 2020, the European Commission’s Factories of the Future PPP has mobilized €1.15 billion since 2014 to fund over 300 pilot projects in advanced manufacturing research—driving development of IoT, AI and digital-twin technologies in production

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SMART MANUFACTURING TECHNOLOGY MARKET SEGMENTATION

By Type

Based on type, the market is divided into manufacturing it, automation control system, and instrumentation & field devices.

Automation control system is expected to be the leading part of the segmentation type.

By Application

Based on the application, the market is divided into, aerospace & defense, automotive, chemicals & materials, industrial equipment, healthcare, electronics, oil & gas, and others.

Industrial equipment is expected to be the leading part of application segmentation.

DRIVING FACTORS

Emergence of 5G era and Advancement in Connectivity Technologies to Support Market Growth

Growing adoption of the 5G network and demand for high-speed connectivity is estimated to surge market growth. Rising adoption of Industry 4.0 is estimated to support market growth. Rapid industrial development to support economy growth. Further, growing industrial loT is gaining popularity in the market. Also, manufacturing companies are focusing on developing new smart manufacturing solutions. Increase in digitalization is anticipated to accelerate market growth. Further, the growing demand for technology in the food and beverage sector is estimated to expand market growth. The increase adoption of 3D food printing and machine is anticipated to propel market growth in the upcoming years. Growing adoption of automation in the food & beverage sector to offer safety solutions, flexibility, and innovation. Such factors are predicted to magnify smart manufacturing technology market growth.

• A joint MESA International–IndustryWeek survey found 43 percent of manufacturers view smart manufacturing as an extension of existing continuous-improvement and lean initiatives—bridging digitalization with proven operational practices

• According to SACA, 70 percent of Chinese and 60 percent of U.S. manufacturers reported either active deployment or imminent investment in AI, IoT and advanced analytics—driven by pressure to maintain global market share

Growing Government Involvement in Supporting Smart Manufacturing to Surge Market Performance

Governments globally are supporting the development of smart manufacturing is predicted to fuel market growth. High investment by private and government sectors for R&D activities. Also, several governments are funding loT innovations that are anticipated to accelerate market growth. Also, globally governments are taking regulations and researching financing centers, educational institutions, and research organizations. Further, developed countries such as U.K. and U.S. are promoting university–level 3D printing research. Therefore, these factors are anticipated to accelerate market growth. Rising demand for 3D printing and the robotic process is predicted to surge smart manufacturing technology market growth in the upcoming years.

RESTRAINING FACTORS

High investment in smart manufacturing solutions to hamper market growth in the forthcoming years. Maintenance costs and fluctuation of raw material prices are anticipated to block market progress in the upcoming years.

• Over 95 percent of U.S. manufacturers are small- and medium-sized (SMMs), many of which lag in digital infrastructure development—limiting widespread rollout of smart systems, per Auburn University’s Smart Manufacturing Study

• NIST’s Smart Manufacturing Systems Test Bed initiative envisioned six interoperable centers, yet only three major facilities are fully operational—hindering end-to-end validation of cross-platform smart manufacturing solutions

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SMART MANUFACTURING TECHNOLOGY MARKET REGIONAL INSIGHTS

Increase in Vibrant Ecosystem in Asia Pacific to Drive Market Share

Asia Pacific is anticipated to hold largest smart manufacturing technology market share due to vibrant ecosystem across countries such as India, Japan, and China. Growing adoption of disruptive technologies such as Industry 4.0 and increase in adoption cloud-based technology. Rising research and development activities and growing focus on lot innovation. Increase in research centers and financial support for new loT research projects are predicted to expand market growth.

North America is predicted to hold the second-largest market owing to increasing expenditure on advanced manufacturing technologies. Availability of auxiliary printing material and growing demand from aerospace, healthcare, automotive, and defense sectors. Also, the presence of government agencies such as the Aeronautics and Space Administration (NASA) is expected to thrust smart manufacturing technology market expansion in the forthcoming years.

KEY INDUSTRY PLAYERS

Leading Players Adopt New Strategies to Stay Competitive

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

• According to Japan’s Ministry of Economy, Trade and Industry, Yokogawa deployed its Industrial Automation Control System (IACS) across 800+ smart process industry installations globally by 2023.

• As per the U.S. Department of Energy, Emerson contributed to over 60 industrial energy optimization pilot projects through smart manufacturing technologies in 2023.

List of Top Smart Manufacturing Technology Companies

• Yokogawa
• Emerson
• NVIDIA
• Stratatys
• GE
• ABB
• Cognex
• SAP
• Schneider
• Honeywell
• Daifuku
• 3D Systems
• Keyence
• Fanuc
• Oracle
• Siemens
• IBM
• Rockwell
• Cisco

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.