CHICAGO, April 23, 2021 /PRNewswire/ — According to the new market research report “Smart Manufacturing Platform Market with COVID-19 Impact, by type (Device Management, Connectivity Management, Application Enablement Platform), Application (Performance, Optimization, Asset & Condition Monitoring), Industry, Region – Global Forecast to 2026″, published by MarketsandMarkets™, the global Smart Manufacturing Platform Market size is expected to grow from USD 5.8 billion in 2021 to USD 13.2 billion by 2026, at a CAGR of 18.0%. The growth of this market is driven mainly by growth in industrial automation, growing adoption of smart manufacturing platforms in automotive industry, increasing support from governments for industrial automation, and growing need for streamlined and automated data to boost productivity.
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Discrete industry is estimated to hold the largest growth rate of the smart manufacturing platform market during the forecast period.
The discrete industry includes automotive, industrial manufacturing, electronics & semiconductor, medical device, aerospace & defense, and others. Among these, the automotive industry dominates the smart manufacturing platform market and is expected to grow at the highest rate of 22.1% during the forecast period owing to changing consumer preferences and inefficiency of traditional processes. Changing consumer preferences, technological…