(MENAFN- GlobeNewsWire - Nasdaq) The global smart manufacturing market is projected to grow from USD 380.21 billion in 2026 to USD 995.67 billion by 2032, at a 17.4% CAGR. Growth is driven by Industry 4.0, IIoT, AI, robotics, digital twins, cloud computing, 5G and predictive maintenance. Industrial networking and connectivity will hold a significant share, while energy and power will record the highest CAGR. North America will lead amid smart factory investment, automation and reshoring. Key players include Siemens, ABB, Rockwell Automation, Schneider Electric and Honeywell.Dublin, Oct. 01, 2026 (GLOBE NEWSWIRE) -- "Smart Manufacturing Market - Global Forecast to 2032" has been added to ResearchAndMarkets.com's offering.
Smart Manufacturing Market to Reach USD 995.67 Billion by 2032, Driven by IIoT, AI and Industrial Automation
The global smart manufacturing market is projected to grow from an estimated USD 380.21 billion in 2026 to USD 995.67 billion by 2032, registering a compound annual growth rate of 17.4% during the forecast period. Market expansion is being supported by the accelerating deployment of Industrial Internet of Things (IIoT), artificial intelligence (AI), robotics, cloud computing, digital twins and connected production systems.
Industrial networking and connectivity to secure a significant market share
Based on technology, the industrial networking and connectivity segment is expected to account for a significant share of the smart manufacturing market. Growth is being driven by the adoption of IIoT, connected factory ecosystems and real-time machine-to-machine communication across manufacturing facilities.
Manufacturers are deploying industrial Ethernet, 5G, Wi-Fi 6, edge connectivity and cloud-integrated communication networks to facilitate data exchange among machines, sensors, robots and control systems. Rising demand for real-time production monitoring, predictive maintenance, remote asset management and digital twin applications is accelerating investment in advanced networking infrastructure. Smart factory expansion and the need for interoperable, secure and low-latency industrial communications are also strengthening segment growth.
Energy and power industry expected to record the highest CAGR
The energy and power segment is forecast to register the highest CAGR during the forecast period, supported by increased digitalization, industrial automation and smart grid deployment across power generation and energy management facilities.
Energy companies are investing in AI-driven monitoring, IIoT-enabled equipment, predictive maintenance and real-time analytics to improve operational efficiency, optimize energy production and reduce downtime. Renewable energy projects, smart substations and connected industrial infrastructure are further increasing demand for automation and smart manufacturing technologies. Grid modernization programs, energy-efficiency initiatives and remote asset management investments will provide additional opportunities across the sector.
North America positioned to lead the smart manufacturing market
North America is expected to hold the largest smart manufacturing market share during the forecast period. Regional growth is supported by advanced manufacturing industries, high adoption of industrial automation and substantial investment in Industry 4.0 initiatives across the United States, Canada and Mexico.
Manufacturers are implementing smart factory solutions incorporating AI, IIoT, robotics, machine vision, digital twins, cloud computing and advanced analytics. Automotive, aerospace, electronics, food and beverage, pharmaceutical, and energy companies are modernizing facilities through connected manufacturing systems and real-time, data-driven decision-making. Predictive maintenance, autonomous production lines and intelligent supply chain management remain key investment priorities.
The presence of major technology providers, automation companies and semiconductor manufacturers supports continuous innovation and large-scale implementation. Government initiatives promoting domestic manufacturing, industrial modernization, cybersecurity and resilient supply chains are also contributing to growth. Investment in 5G-enabled industrial networks, edge computing and sustainable manufacturing is helping companies improve productivity, energy efficiency and product quality. Reshoring activity and efforts to strengthen regional production capacity are expected to reinforce North America's market position.
Competitive landscape
The smart manufacturing market includes established industrial automation, robotics, industrial software and digital transformation providers. Key participants include Siemens (Germany), ABB (Switzerland), Rockwell Automation (US), Schneider Electric (France), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Emerson Electric Co. (US), FANUC Corporation (Japan) and Yokogawa Electric Corporation (Japan).
The competitive assessment also covers 3D Systems, Inc. (US), Cisco Systems, Inc. (US), IBM (US), Oracle (US), SAP (Germany) and Stratasys (US). The study evaluates company profiles, market shares, recent developments, product innovations and growth strategies adopted by leading smart manufacturing companies.
Research methodology and participant profile
Extensive primary interviews with smart manufacturing industry experts were used to determine and validate market sizes for segments and subsegments identified through secondary research. Participants represented component suppliers, Tier 1 companies and original equipment manufacturers.
By company type: Tier 1 accounted for 40%, Tier 2 for 35% and Tier 3 for 25%. By designation: C-level executives represented 35%, directors 40% and other respondents 25%. By region: Asia Pacific accounted for 40%, North America 30%, Europe 20% and the Rest of the World 10%.
Smart manufacturing market report coverage
The report segments the market by technology into automation and control systems; asset and maintenance management; manufacturing operations systems; industrial networking and connectivity; industrial robotics; sensors and vision systems; digital transformation systems; and design and planning systems.
Industry coverage includes oil and gas, food and beverages, pharmaceuticals, chemicals, energy and power, metals and mining, pulp and paper, automotive, aerospace, semiconductor and electronics, medical devices, heavy machinery, and other industries. Geographic analysis covers Asia Pacific, North America, Europe and the Rest of the World, supported by country-level insights for major markets.
The study assesses market drivers, restraints, opportunities and challenges, together with the smart manufacturing value chain and competitive landscape. Major growth drivers include increasing deployment of IIoT, AI, robotics, cloud computing and digital twins, alongside government support for digital manufacturing initiatives.
Market restraints include data ownership and industrial privacy concerns across connected operations, as well as energy consumption and infrastructure limitations in advanced manufacturing facilities. Opportunities include the growth of smart and connected supply chains and the emergence of sustainable manufacturing solutions. Key challenges include managing interoperability across multiple platforms and supply chain disruptions affecting automation components.
Benefits of the market study
Product development and innovation: Insights into emerging technologies, research and development activities, and new product launches within the smart manufacturing market. Market development: Analysis of high-growth opportunities across North America, Europe, Asia Pacific and the Rest of the World. Strategic planning: Evaluation of market drivers, restraints, opportunities, challenges, regional trends and country-level developments. Competitive assessment: Detailed analysis of leading companies, market shares, product strategies, recent developments and expansion initiatives across the global smart manufacturing ecosystem.
Key Attributes:
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager...
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Comments
No comment