COVID-19's Influence on the Smart Manufacturing Market, 2020-2025 - Revenue Estimation for 2020 is Down by Approx 16% as Compared to Pre-COVID-19 Evaluations

DUBLIN, April 28, 2020 /PRNewswire/ -- The "COVID-19 Impact on Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region - Global Forecast to 2025" report has been added to's offering.

This report covers the COVID-19 impact on the smart manufacturing market based on information technology, enabling technology, industry, and geography. It also discusses the supply chain, drivers, and challenges pertaining to the smart manufacturing market.

Post COVID-19, the Global Smart Manufacturing Market is expected to be worth USD 181.3 billion by 2020 and USD 220.4 billion by 2025, growing at a CAGR of 4%. The estimation for 2020 is down by approximately 16% as compared to pre-COVID-19 evaluations.

Factors that drive the growth of the smart manufacturing market include the increasing demand for smart manufacturing products & solution propelled by COVID-19, the importance of digital twin in maintaining operations within the manufacturing ecosystem, and the emerging & expanding role of collaborative robots in healthcare and manufacturing sectors.

The post-COVID-19 market for collaborative robots is expected to witness positive growth in 2020 as compared with 2019.

Collaborative robots are used in manufacturing activities where they coexist with humans and other machines to enhance and optimize manufacturing operations. Apart from the automobile industry, collaborative robots can also be used in other sectors, which has led to their increased demand even during the pandemic. However, their market growth is expected to be below the growth estimated during pre-COVID-19. During this pandemic, increased usage of collaborative robots is expected to boost the manufacturing of various products and devices such as ventilators, respirators, valves, masks, and other life-essential goods. Despite its positive growth in 2020, it would be difficult for collaborative robot sales to reach the estimates pre-COVID-19.

Automotive sales are expected to decline in 2020 as compared to 2019.

The spread of COVID-19 has impacted the automotive sector. Automobile manufacturing plants across Europe and North America are either non-operational or have reduced their production. Lockdown in China has led to the shortage of various parts used in automobiles as most of the spare parts are procured from the country. Electric vehicle production has also been hampered owing to the scarcity of lithium-ion batteries and other key components, which are supplied by China. Thus, the demand for automobiles will remain low for the next 1-2 quarters.

Smart manufacturing solutions are an important and significant aspect of the automotive industry. However, the anticipated decline in the revenue of the automotive industry is expected to result in reduced demand for smart manufacturing products and solutions. Companies are currently in a race to save operations and cash flows instead of investing in any new project. We may see a positive response in terms of the demand for smart manufacturing products and solutions 1-2 quarters after the lockdown is over.

APAC to continue to hold the largest share of the global smart manufacturing market during the forecast period.

APAC is expected to continue to account for the largest share of the global smart manufacturing industry from 2020 to 2025. Rapid industrialization in APAC has boosted the manufacturing sector in APAC. Countries in APAC have the presence of a large number of small- and mid-sized enterprises (SMEs), which employ more than 70% of the total population in the countries. However, due to COVID-19, the market size of smart manufacturing in APAC is expected to lower in 2020; but its market share among other regions will continue to remain high. The APAC market is expected to recover only after 2021, but it will be challenging to attain the market size estimated pre-COVID-19.

The key players operating in the global smart manufacturing market are 3D Systems (US), ABB (Switzerland), Cisco (US), Emerson (US), General Electric (US), Honeywell (US), IBM (US), Oracle (US), Rockwell (US), SAP (Germany), Schneider (France), Siesmens (Germany), and Yokogawa (Japan).

Key Topics Covered

1 Introduction
1.1 Covid-19 Health Assessment
1.2 Covid-19 Economic Assessment
1.2.1 Covid-19 Impact on the Economy-Scenario Assessment

2 Research Methodology

3 Executive Summary
3.1 Pre-Covid-19
3.2 Realistic Scenario
3.3 Pessimistic Scenario
3.4 Optimistic Scenario

4 Covid-19 Impact on Smart Manufacturing Ecosystem
4.1 Introduction
4.1.1 Smart Manufacturing Market: Shift in Client'S Client Business Ecosystem
4.2 Impact on Value Chain
4.2.1 Disruption in Supply Chain of Manufacturing Industry Supply Chain Disruption Temporary Shutdown of Manufacturing Units Decrease in Demand
4.2.2 Component Manufacturer Ecosystem
4.2.3 System Integrator Ecosystem
4.3 Strategies to Minimize the Impact
4.3.1 Real-Time Visibility of Supply Chain
4.3.2 Effective Implementation of Enabling Technologies
4.3.3 Temporary Shift to Manufacturing of Essential Items
4.4 Macroeconomic Indicator, By Major Countries
4.5 Market Dynamics
4.5.1 Drivers Demand for Smart Manufacturing Solutions Will be More in Future Than Ever Before Fiscal Policy Steps Taken By Regional Financial Institutions to Keep Manufacturing Facilities Floating Amidst Covid-19 Crisis China's Return to Normalcy in the Commercial Trade Market Expected to Lead Positive Market Sentiments Increasing Use of Digital Twin Would Help to Safely Monitor Smart Manufacturing Operations Collaborative Robots to be Crucial in Healthcare Industry to Fight Pandemic and Drive Smart Factory Market
4.5.2 Restraints Lack of Trained Personnel to Handle Smart Manufacturing Technologies During Crises Such As Covid-19
4.5.3 Opportunities Government Aid to Fight Against Covid-19-Induced Economic Crisis
4.5.4 Challenges Lockdown and Social Distancing Will Save Lives But May Restrict Commercial Trade Growth for Coming Months Trade Restrictions Imposed By US on China Can Further Prove to be Deteriorating for Market

5 Covid-19 Impact on Smart Manufacturing Market, By Technology
5.1 Introduction
5.2 Smart Manufacturing Market, By Enabling Technology
5.2.1 Collaborative Robots
5.2.2 Digital Twin
5.2.3 Industrial 3D Printing
5.2.4 Machine Condition Monitoring
5.2.5 Others
5.3 Smart Manufacturing Market, By Information Technology
5.3.1 Manufacturing Execution System
5.3.2 Plant Asset Management
5.3.3 Warehouse Management System
5.3.4 Others

6 Covid-19 Impact on Smart Manufacturing Market, By Industry
6.1 Introduction
6.2 Least Impacted Industries By Covid-19
6.2.1 Pharmaceuticals Impact Analysis
6.2.2 Medical Devices Impact Analysis
6.3 Most Impacted Industries By Covid-19
6.3.1 Aviation Impact Analysis
6.3.2 Automotive Impact Analysis
6.4 Estimation of Smart Manufacturing Market
6.5 Process Industry
6.6 Discrete Industry

7 Covid-19 Impact on Smart Manufacturing, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 France
7.4 APAC
7.4.1 China
7.4.2 Japan
7.4.3 South Korea
7.5 RoW

8 Company Profiles
8.1 Introduction
8.2 ABB
8.2.1 Business Overview
8.2.2 Covid-19-Related Developments
8.3 Cisco
8.4 Emerson
8.5 Fanuc
8.6 GE
8.7 Hewlett Packard Enterprise
8.8 Honeywell
8.9 IBM
8.10 Intel
8.11 Microsoft Corporation
8.12 Mitsubishi
8.13 Oracle
8.14 PTC
8.15 Rockwell Automation
8.16 SAP
8.17 Schneider Electric
8.18 Siemens
8.19 Stratasys
8.20 Universal Robots
8.21 Yokogawa
8.22 Short-Term and Long-Term Strategy
8.22.1 Short-Term Strategy Modify Business-Related Strategies Prioritize Companies Manufacturing Essential Goods Prioritize the Health of Employees
8.22.2 Long-Term Strategy Strengthening the Supply Chain Digitalization and Migration Toward Industrial Automation Using Smart Manufacturing

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