There is a growing need to centralize the business data in enterprises and track multiplant operations with the help of real-time data analysis; this is one of the features of MES driving the growth of this market. This demand is expected to grow, even among small- and medium-sized enterprises (SMEs), due to the availability of cost-effective MES solutions for various process and discrete industry verticals.
An industrial robot is a disruptive technology which is expected to bring a revolution in the manufacturing processes. Implementing industrial robotics in the smart manufacturing processes can improve productivity, reduce the chances of human errors, and increase the production volume. With the advancements in the automotive manufacturing techniques, manufacturers focus more on enhancing their productivity by employing modern methodologies.
The market for industrial robots is projected to account for the highest share of the global smart factory market during the forecast period. Implementing industrial robotics in the smart manufacturing processes can improve productivity, reduce the chances of human errors, and increase the production volume. However, the market for industrial 3D printing is expected to witness the highest CAGR between 2017 and 2022, owing to increasing adoption of 3D printing technology in the various process as well as discrete industries such as automotive, aerospace and defense, food and beverages, and semiconductor and electronics.