Smart Manufacturing Market Will Grow $228.2 Billion by 2027

Northbrook, IL -- (SBWIRE) -- 01/27/2022 -- According to the new research report the "Smart Manufacturing Market with COVID-19 Impact by Information Technology, Enabling Technology, Industry (Process and Discrete) and Geography (North America, Europe, Asia Pacific, Rest of World) - Global Forecast to 2027", published by MarketsandMarkets™, the global Smart Manufacturing Market was valued at USD 88.7 billion in 2021 and is projected to reach USD 228.2 billion by 2027; it is expected to grow at a CAGR of 18.5% from 2022 to 2027. The major drivers of the smart manufacturing market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost.