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Smart manufacturing Quality Control Systems Market
The on-premises segment accounted for the largest share in 2023.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 28, 2025 /EINPresswire / -- Rise in need for data-driven decision making and increase in demand for operational efficiency are the factors expected to propel the growth of the global Smart Manufacturing Quality Control Systems
market . However, the increase in complexity of integration and high
investment cost are anticipated to hamper the growth of global market. On the contrary, growth in
industry 4.0 adoption is further likely to create lucrative opportunities for the growth of the global market. The global smart manufacturing quality control systems market was valued at $187.5 billion in 2023, and is projected to reach $622.9 billion by 2032, growing at a CAGR of 14% from 2024 to 2032.
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By deployment mode, the on-premises segment accounted for the largest share in 2023 owing to the preference for local control over systems and data by many organizations. On-premises solutions allow manufacturers to manage their systems internally, providing control over security and customization, which is particularly important for industries with stringent data protection requirements, which is further expected to propel the overall market growth. However, the cloud segment is expected to attain the largest CAGR from 2024 to 2032 and is projected to maintain its lead position during the forecast period, owing to the increasing demand for flexibility, scalability, and remote accessibility that cloud solutions offer. Cloud-based systems allow for easier updates, integration with other digital tools, and real-time data access from anywhere, which aligns well with the ongoing trend towards digital transformation and Industry 4.0. Thereby, driving the growth of this segment in the global smart manufacturing quality control systems market.
By component, the solution segment accounted for the largest share in 2023, contributing to more than three-fifths of the smart manufacturing quality control systems market revenue, owing to organizations are increasingly investing in comprehensive smart manufacturing quality control systems solutions that offer integrated platforms, tools, and technologies to manage their smart manufacturing quality control systems environments effectively. These solutions provide businesses with the necessary infrastructure, security features, and management capabilities to seamlessly integrate public and private cloud resources, optimize performance, and ensure data protection, which is further expected to propel the overall market growth. However, the services segment is expected to attain the largest CAGR from 2024 to 2032 and is projected to maintain its lead position during the forecast period, owing to the expert guidance, support, and customization services to successfully implement and manage their smart manufacturing quality control systems deployments. Service providers offer a range of consulting, implementation, migration, and managed services to help organizations navigate the complexities of smart manufacturing quality control systems adoption, maximize the benefits of their smart manufacturing quality control systems. Thereby, driving the growth of this segment in the global smart manufacturing quality control systems market.
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By industry vertical, the automotive segment accounted for the largest share in 2023 owing to the automotive sector's extensive use of advanced manufacturing technologies and stringent quality control requirements. Automotive manufacturers rely heavily on precision and consistency, making smart quality control systems essential for managing complex production processes and ensuring high-quality standards, which is further expected to propel the overall market growth. However, the small and medium-sized enterprise segment is expected to attain the largest CAGR from 2024 to 2032 and is projected to maintain its lead position during the forecast period, owing the increasing need for high standards in medical device manufacturing, pharmaceuticals, and healthcare-related production. The emphasis on patient safety, regulatory compliance, and the demand for advanced technology in manufacturing processes are propelling the rapid adoption of smart quality control systems in this sector. Thereby, driving the growth of this segment in the global smart manufacturing quality control systems market.
The key players profiled in this report include
Siemens AG
Honeywell International Inc.
Rockwell Automation, Inc.
Schneider Electric SE
ABB Ltd.
Bosch
Mitsubishi Electric Corporation
Emerson Electric Co.
Cognex Corporation
General Electric (GE) Digital
The report provides a detailed analysis of these key players in the Smart manufacturing quality control systems market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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Recent Development:
In April 2023, Honeywell acquired Compressor Controls Corporation (CCC) from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million, which represents ~15x 2023E EBITDA on a tax adjusted basis, in an all-cash transaction. CCC is a leading provider of turbomachinery control and optimization solutions.
In April 2023, Bosch partnered with Rhenus Automotive and REMONDIS subsidiary TSR Recycling to enhanced sustainability and EV battery recycling. As the global transition towards EVs takes shape, Bosch estimates that EVs account for around 70% of all newly registered passenger cars in Europe by 2030.
In September 2023, Mitsubishi Electric's RT Toolbox3 and iQ Works2 offers a new visual editor for programming SCADA and six-axis industrial robots, which the manufacturer says makes programming industrial robots child's play. Delivering enhanced user-friendliness, and with operators that are new to robotics in mind, the update can help users streamline the set-up of automated applications.
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Regional Analysis:
By region, the North America region held the highest market share in terms of revenue in 2023, owing to its well-established industries and advanced technology adoption. Companies in this region are early adopters of smart manufacturing solutions, investing heavily in high-tech quality control systems to maintain their competitive edge, anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to attain the highest CAGR from 2024 to 2032, owing to its rapid industrialization and expanding manufacturing sector. As countries in this region modernize their factories and increase production capabilities, there is a rising demand for smart quality control systems to improve efficiency and product quality, which is further expected to contribute to the growth of the market in this region.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.