Europe Smart Manufacturing Market Growth, Size, Trends, Revenue, Challenges and Future Outlook
Europe Smart Manufacturing Market Size- By Component, By Deployment, By Enterprise Size, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2023 | Report ID: IACT23186 | Pages: 1 - 156 | Formats*: |
| Category : Information & Communications Technology | |||
Europe Smart Manufacturing Market Introduction and Overview
According to SPER Market Research, the Europe Smart Manufacturing Market is estimated to reach USD 1080.60 billion by 2033 with a CAGR of 12.74%.
The report includes an in-depth analysis of the Europe Smart Manufacturing Market, including market size and trends, product mix, Enterprise Sizes, and supplier analysis. The term "smart manufacturing" describes the application of cutting-edge technology to improve manufacturing processes, including cloud computing, big data analytics, artificial intelligence (AI), and the Internet of Things (IoT). Smart manufacturing allows for real-time data collecting, analysis, and decision-making through the connection of machines, devices, and systems. This leads to higher productivity, lower operating costs, and better product quality.
- October 2021: ABB declared its acquisition of ASTI Mobile Robotics Group, a Spanish company that produces mobile robots that are autonomous and designed for use in industrial settings. The goal of the acquisition was to increase ABB's capacity for smart manufacturing.
- July 2021: The acquisition of RIB software, a German supplier of software solutions for the building and smart building sectors, was announced by Schneider Electric.
Market Opportunities and Challenges
The European smart manufacturing market is experiencing rapid growth, fuelled by the imperative for manufacturers to enhance productivity, cut costs, and remain globally competitive. Predominantly, major manufacturing economies like Germany are spearheading this expansion. The prevalence of smart factories is on the rise in Europe, characterized by high automation, internet-connected machinery, and real-time communication for streamlined production processes. These facilities leverage data analytics for comprehensive data analysis, employ robotics for intricate tasks, and prioritize innovation as a catalyst for advancement. With numerous companies and research institutions dedicated to pioneering technologies, smart manufacturing is poised to become increasingly ubiquitous and indispensable across the European manufacturing landscape.
However, security and privacy of data are major issues in European smart manufacturing. Utilising several technologies, including artificial intelligence (AI), big data, and the Internet of Things (IoT), smart manufacturing aims to boost productivity by streamlining operations. But new technologies also produce enormous volumes of data, some of which may be private and sensitive, necessitating data privacy and security measures. Manufacturers must make significant investments in strong security measures because the increased connectivity also increases cybersecurity concerns. Additionally, the staff needs to be retrained and upskilled in order to adjust to new procedures and technology as part of the transition to smart manufacturing. Moreover, smaller businesses may find it difficult to afford the large upfront costs associated with setting up smart manufacturing.
Market Competitive Landscape
The smart manufacturing industry's competitive landscape is changing quickly as new and established players join the market. The region's smart manufacturing sector is expanding, and as a result, more businesses are proposing creative ways to boost productivity and streamline production procedures, expanding their market share in Europe. The growth of the industry has been aided by the presence of multiple multinational corporations in the region. The major players in the market include: ABB, Blue Prism, Bosch, Dassault Systemes, Festo, ICONICS, SAP, Schneider Electric, Siemens AG, TXT e-solutions, others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Deployment, By Enterprise Size, By End User |
| Regions covered | France, Germany, Italy, Spain, U.K. and rest of Europe |
| Companies Covered | ABB, Blue Prism, Bosch, Dassault Systemes, Festo, ICONICS, SAP, Schneider Electric, Siemens AG, TXT e-solutions, Others |
COVID-19 Impact on Europe Smart Manufacturing Market
The COVID-19 pandemic highlighted the need for smart manufacturing as sectors looked for flexible and resilient ways to deal with shocks. During the pandemic, remote monitoring, digitization, and automation became more popular, which sped up the implementation of smart manufacturing.
Key Target Audience:
- Academic Institutions
- Automation and Robotics Companies
- Investors and Venture Capitalists
- IT and Technology Providers
- Manufacturers and Industrial Companies
- Research and Development Organizations
- Supply Chain and Logistics Companies
- Others
Our in-depth analysis of the Europe Smart Manufacturing Market includes the following segments:
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| By Deployment: |
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Key Topics Covered in the Report:
- Europe Smart Manufacturing Market Size (FY’2023-FY’2033)
- Overview of Europe Smart Manufacturing Market
- Segmentation of Europe Smart Manufacturing Market By Component (Solution, Service)
- Segmentation of Europe Smart Manufacturing Market By Deployment (Cloud-Based, On-Premise)
- Segmentation of Europe Smart Manufacturing Market By Enterprise Size (Large Enterprises, Small and Medium Enterprises)
- Segmentation of Europe Smart Manufacturing Market By End User (Aerospace and Defense, Automotive, Chemicals, Industrial Machinery, Medical Devices, Mining and Metals, Pharmaceuticals, Pulp and Paper, Semiconductor and Electronics/High Tech, Transportation, Others)
- Statistical Snap of Europe Smart Manufacturing Market
- Expansion Analysis of Europe Smart Manufacturing Market
- Problems and Obstacles in Europe Smart Manufacturing Market
- Competitive Landscape in the Europe Smart Manufacturing Market
- Impact of COVID-19 and Demonetization on Europe Smart Manufacturing Market
- Details on Current Investment in Europe Smart Manufacturing Market
- Competitive Analysis of Europe Smart Manufacturing Market
- Prominent Players in the Europe Smart Manufacturing Market
- SWOT Analysis of Europe Smart Manufacturing Market
- Europe Smart Manufacturing Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Europe Smart Manufacturing Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Smart Manufacturing Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Smart Manufacturing Market
7. Europe Smart Manufacturing Market, By Component (USD Million)
7.1. Europe Smart Manufacturing Market Value Share and Forecast, By Component, 2023-20337.2. Solution7.2.1. Industrial 3D Printing7.2.2. Manufacturing Execution System (MES)7.2.3. Product Lifecycle Management (PLM)7.2.4. Programmable Logic Controller (PLC)7.2.5. Remote Monitoring software7.2.6. Robotic Process Automation (RPA)7.2.7. Supervisory Controller and Data Acquisition (SCADA)7.2.8. Others7.3. Services7.3.1. Managed Services7.3.2. Professional Services
8. Europe Smart Manufacturing Market, By Deployment (USD Million)
8.1. Europe Smart Manufacturing Market Value Share and Forecast, By Deployment, 2023-20338.2. Cloud-Based8.3. On-Premise
9. Europe Smart Manufacturing Market, By Enterprise Size (USD Million)
9.1. Europe Smart Manufacturing Market Value Share and Forecast, By Enterprise Size, 2023-20339.2. Large Enterprises9.3. Small and Medium Enterprises
10. Europe Smart Manufacturing Market, By End User (USD Million)
10.1. Europe Smart Manufacturing Market Value Share and Forecast, By End User, 2023-203310.2. Aerospace and Defense10.3. Automotive10.4. Chemicals10.5. Industrial Machinery10.6. Medical Devices10.7. Mining and Metals10.8. Pharmaceuticals10.9. Pulp and Paper10.10. Semiconductor and Electronics/High Tech10.11. Transportation10.12. Others
11. Europe Smart Manufacturing Market Forecast, 2019-2033 (USD Million)
11.1. Europe Smart Manufacturing Market Size and Market Share
12. Europe Smart Manufacturing Market, By Component, 2019-2033 (USD Million)
12.1. Europe Smart Manufacturing Market Size and Market Share By Component (2019-2026)12.2. Europe Smart Manufacturing Market Size and Market Share By Component (2027-2033)
13. Europe Smart Manufacturing Market, By Deployment, 2019-2033 (USD Million)
13.1. Europe Smart Manufacturing Market Size and Market Share By Deployment (2019-2026)13.2. Europe Smart Manufacturing Market Size and Market Share By Deployment (2027-2033)
14. Europe Smart Manufacturing Market, By Enterprise Size, 2019-2033 (USD Million)
14.1. Europe Smart Manufacturing Market Size and Market Share By Enterprise Size (2019-2026)14.2. Europe Smart Manufacturing Market Size and Market Share By Enterprise Size (2027-2033)
15. Europe Smart Manufacturing Market, By End User, 2019-2033 (USD Million)
15.1. Europe Smart Manufacturing Market Size and Market Share By End User (2019-2026)15.2. Europe Smart Manufacturing Market Size and Market Share By End User (2027-2033)
16. Europe Smart Manufacturing Market, By Region, 2019-2033 (USD Million)
16.1. Europe Smart Manufacturing Market Size and Market Share By Region (2019-2026)16.2. Europe Smart Manufacturing Market Size and Market Share By Region (2027-2033)16.3. France16.4. Germany16.5. Italy16.6. Spain16.7. U.K.16.8. Rest of Europe
17. Company Profile
17.1. ABB17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Blue Prism17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. Bosch17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. Dassault Systemes17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. Festo17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. ICONICS17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. SAP17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. Schneider Electric17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Siemens AG17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. TXT e-solutions17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Smart Manufacturing Market is projected to reach USD 1080.60 billion by 2033, growing at a CAGR of 12.74% during the forecast period.
Europe Smart Manufacturing Market grew in market size from 2023. The Market is expected to reach USD 1080.60 billion by 2033, at a CAGR of 12.74% during the forecast period.
Europe Smart Manufacturing Market CAGR of 12.74% during the forecast period.
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Europe Smart Manufacturing Market Segment is Covered By Component, By Deployment, By Enterprise Size, By End User
The Europe region is anticipated to have the highest market share in Europe Smart Manufacturing Market.
The key players in the market include Companies Covered ABB, Blue Prism, Bosch, Dassault Systemes, Festo, ICONICS, SAP, Schneider Electric, Siemens AG, TXT e-solutions, Others
Smart manufacturing allows for real-time data collecting, analysis, and decision-making through the connection of machines, devices, and systems. This leads to higher productivity, lower operating costs, and better product quality.
Europe Smart Manufacturing Market size is USD 1080.60 billion from 2023 to 2033.
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