The demand with the global smart manufacturing market has been increasing based on the trend of achieving best industrial productivity for making a profitable business. Smart manufacturing has encompassed in several industries and is anticipated to renovate the business landscape over the forecast period. Smart manufacturing mentions the use of computerized systems and important manufacturing technologies to improve the speed of manufacturing, quality and agility. Smart manufacturing is dissimilar from traditional manufacturing in the sense involving workforce training and transformation concept to bring about product transaction.

Traditional manufacturing methods include expected usage of raw materials in developing final products where smart manufacturing is a more customized approach focusing on the detailing of products. The current scenario has experienced various digital transformations and solutions coming under the limelight of attention, has supported the growth of the global smart manufacturing market. Various research organizations have justified smart manufacturing usage by claiming that there is a minimum production of waste when digital technologies are utilized for manufacturing. Growth of the manufacturing units in various sectors and industries is anticipated to bring optimistic growth in the global smart manufacturing market.

Various technologies of a smart manufacturing market are:

• Combined Robots: Co-bots or collaborative robots are the robots that are considered working along with humans in a workspace to deliver the improved process efficacy. These robots are poles apart from industrial robots in several ways like lack of “safety fence” during the work with humans, decreased setup time and simplified programming, potential in reducing the force and motor power and combination of auto-speed decrease and distance monitoring through proximity sensors during the application in evading the harm to human co-worker. Combined robots are utilized for performing semiautonomous or autonomous tasks for various applications like injection molding, screw driving, polishing & painting, lab analysis, welding and gluing, machine tending, quality testing, palletizing & packaging, handling, place & pick and assembly.

• Developed 3D Printing: Used in several applications like special machinery, robotics and tooling. Robotics is an important part of industries like defense & aerospace, printed electronics, automotive, forging and foundry. Merging the developed 3D printing with robotics enables the creation of less expensive, lightweight and well-designed components. Developed 3D printing shortens the time-consuming and expensive procedure of manufacturing tools, lessening the labor costs and removing assembly lines.

• Monitoring the condition of the machine: A procedure of defining the condition of the machine and operational state for distinguishing breakdowns by supporting automation. The procedure includes continuous or periodical data collection, diagnoses, interpretation and analyses. This method is dissimilar from the conventional methods in the manual procedure. Monitoring the condition of machine enhances the equipment readiness and decrease maintenance and requirements of staffing. It is mostly utilized for safeguarding the spontaneous outages, improve the performance of the machine and decrease downtime and maintain cost. This technique is initially classified as predictive machine monitoring and preventive machine monitoring. Predictive monitoring permits companies to recognize the potential trouble, problems of diagnosis and select the remedial actions earlier to degrade the performance or occurs interruption. Preventive monitoring is accomplished where the equipment is in the normal condition to evade the unpredicted breakdowns and related costs and downtime.

Key manufacturers like Yokogawa, Siemens, Schneider, SAP, Rockwell, Oracle, IBM, Honeywell, General Electric, Emerson, Daifuku, Cisco, ABB and 3D systems.