Smart Manufacturing Market Could Soar To Nearly $400B By 2025
The global smart manufacturing market is poised for massive growth over the next decade.
Smart manufacturing, which employs data and analytics to improve warehouse and logistics processes, is expected to rise from $172B in 2016 to nearly $400B by 2025, Tech Republic reports.
This could serve to benefit both the industrial sector in terms of improved speed and performance, and e-commerce, which has been leaning heavily on warehouses for product storage and distribution.
But of all sectors, the automotive industry is expected to utilize smart manufacturing the most with technologies such as 3D printing and real-time analytics anticipated to have the largest impact on businesses as they move more toward a digital format, Tech Republic reports. This could also serve to play a role in the development of autonomous vehicles, which will massively disrupt the commercial real estate industry in the coming years.
While smart manufacturing is expected to experience a boom over the next decade, a report by Zebra Technologies found that the Internet of Things could seep into the industrial industry even sooner. Two-thirds of warehouse tenants expect their factories to be fully connected by the Internet of Things by 2022.
