Global smart manufacturing market reach to $384.8 billion in 2025
Apr 22, 2020
The global smart manufacturing market will grow from $214.7 billion in 2020 to $384.8 billion in 2025, with Asia Pacific region keeping the largest share of the smart manufacturing market during the projected period. Risks of cybersecurity, the lack of awareness about potential benefits and the lack of skilled workforce pose challenges to the growth, but ResearchAndMarkets projects that the market will grow a CAGR of 12.4% from 2020 to 2025 thanks to factors such as increasing emphasis on industrial automation, increasing complexities in supply chain, and government support to promote smart manufacturing.
AMP Robotics, which makes recycling-sorting robots, is receiving significantly more orders since the start of the pandemic. Dual-robot recycling system of AMP Robotics uses AI to sort, pick, and place a wide variety of material. It can make 160 picks in a minute. “Smart gripper” by ReconRobotics can pick and separate 2000 items per hour. On the other hand, a human worker can make about 800 picks in an hour, or just over 13 per minute. Although these robots cannot entirely replace human workers, it may be a sign of things to come after the pandemic; with the new paradigm of social distancing, nonessential workers will be replaced by robots and there will be fewer workers even after the recovery.
Locus Robotics, a provider of autonomous mobile robots for fulfillment centers, launched a new service called “The Locus Rapid Assessment & Design Service” for prospective customers to quickly evaluate the productivity benefits and return on investment of using Locus’ solution. The service provides key insights about benefits and suitability of deploying robotic solutions by collecting historical customer data, designing a complete concept for operation including ROI and developing a comprehensive plan for fast implementation.
Fanuc launches new vision sensor for robotic warehousing applications. Its new 3DV/1600 vision sensor quickly finds and take pictures of boxes of varying sizes and shapes in a large bin, making it an ideal solution for the warehousing, e-commerce and logistics markets. Fanuc demonstrated the system at MODEX exhibits in Atlanta where Fanuc’s robot equipped with the 3DV/1600 vision sensor picked each package and dropped it into another bin, and once a bin was emptied, the sensor moved to the full bin and the cycle repeated.
Meticulous Research predicts that the AI in manufacturing market will grow to $27 billion by 2027. While the lack of infrastructure and high cost likely hinder the growth in some countries to some extent, rapidly increasing amount of data and growing adoption of IIoT will drive the growth. The report, “Artificial Intelligence in Manufacturing Market – Global Opportunity Analysis and Industry Forecast” estimates that the market will grow at a CAGR of 39.7% between 2019 and 2027.