1. Smart manufacturing is an enhanced process of production with the objective of optimizing concept generation, product transaction, and manufacturing. It refers to a merger of operation technology and information technology which work together within an integrated process, in real time scenario. The whole technique implied is usually constituted of capturing data, simulation and modeling, analysis of big data, controlling and planning, and cloud computing. Smart Manufacturing Market: Snapshot Smart manufacturing technologies use the best of operating technologies (OT) and information technology (IT). The developers of smart manufacturing technologies have integrated both the processes to create an intelligent optimization and assembling of physical, business, and digital methods for ironing out the creases in the value chain of manufacturing. These processes also utilize human ingenuity with information technol- ogy to create manufacturing intelligence for achieving optimum results. Adoption of these technologies has completely transformed ways of manufacturing, selling products, and shipping. The research report indicates that the global smart manufacturing market is expected to be worth US$548.14 bn by the end of 2024, rising up from US$159.05 bn in 2015. During the forecast period of 2016 to 2024, the global market is anticipated to surge at a CAGR of 13.2%. The mammoth amount of manufacturing activities in the past few years has made it incredibly difficult for multinational organizations to effectively manage their value chain. Therefore, companies are outsourcing their manufacturing operations to third parties, who offer smart manufacturing services, which, in turn, has boosted the overall market. Obtain Report Details @ http://www.transparencymarketresearch.com/smart-manufacturing-market.html 2. Stress on Manufacturing Activities in Asia Pacific Fuels Region’s Growth In terms of regions, the global smart manufacturing market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among all the regions, Asia Pacific held a lion’s share of 39% in the overall market in terms of revenue in 2015. North America closely followed this lead in the same year. The research indicates, that North America and Asia Pacific will continue to hold a dominating stance in the overall market as both these regions will offer lucrative opportunities to the smart manufacturing players. The increasing stress by governments of developing economies to focus on manufacturing activities is anticipated to build a strong case for the growth of smart manufacturing market in Asia Pacific. The regions are poised to witness a steady uptake of smart manufacturing in the automotive industry and in the production of consumer electronics, which are anticipated to stir the demand for these technologies in the near future. Make an Enquiry @ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11555 Global Smart Manufacturing Market: Trends and Opportunities The strong growth in the industrial internet of things technology market is driving the growth of the smart manufacturing market. Furthermore, growing adoption of analytics tools is acting as one of the major drivers of the smart manufacturing market globally. Increase in smart manufacturing is due to increasing access to the Internet and growing focus on cost reduction and commercial process efficiency. In addition, fall in the cost of important components and advancement in technology are supporting the market currently. Mass scale technical progress across different domains has led the organizations to adopt innovative technol- ogies, and gather competitive edge over their competitors. Smart manufacturing systems help to reduce re- dundant system costs effectively, while ensuring that producers achieve cost efficient manufacturing plans. Several developed economies have experienced mass scale adoption of the machine-to-machine communi- cation and internet of things technologies in the industrial sector. These technologies have importantly staged a key driver impacting the growth in the global smart manufacturing market. About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides 3. forward-looking insight for thousands of decision makers. 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