Smart manufacturing is changing the way industries function in the constantly evolving world of Industry 4.0. Businesses are streamlining manufacturing processes, increasing productivity, and spurring innovation by using cutting-edge technology like Artificial Intelligence (AI), Internet of Things (IoT), and robotics.
Some of the key companies that are driving the future of industry include Siemens, ABB, Schneider Electric, Honeywell and other leading names. We’ve compiled a list of the top 5 smart manufacturing brands that are incorporating advanced technologies and redefining the industrial sector, and included 10 other notable companies that are also making strides in the advanced manufacturing industry.
The Importance of Smart Manufacturing
The size of the smart manufacturing market is projected to be USD 141.39 billion in 2024 and USD 279.23 billion by 2029, with a compound annual growth rate (CAGR) of 14.58% throughout the forecast period, according to the market research from Mordor Intelligence.
Smart manufacturing increases productivity, reduces costs, and enhances product quality by integrating advanced technologies like robotics, AI, and IoT. Smart manufacturing provides greater flexibility and promotes sustainable practices through data-driven decision-making. By automating dangerous processes, smart solutions in manufacturing boost workplace safety and give companies an advantage over competitors. Smart manufacturing is centred on innovation and operational excellence, even when sectors evolve.
Key Technologies in Smart Manufacturing
- Industrial IoT: Industrial Internet of Things (IIoT) is an integral part of Industry 4.0 as it connects machines, devices, and systems to gather and exchange data for improved efficiency and decision-making in smart manufacturing systems.
- AI and Machine Learning (ML): Thanks to AI and ML algorithms it is possible to analyse data and forecast maintenance requirements, streamline processes, and improve product quality.
- Robotics and Automation: It is difficult to imagine a factory without sophisticated robots (e.g. robotic arms or cobots) and automated systems to complete activities quickly, accurately, and consistently in order to decrease human error and boost output.
- Additive Manufacturing (3D Printing): 3D printing is one of the most important technologies in the manufacturing industry. It helps cut down on lead times and wasteful material waste while producing complicated structures, unique parts, and prototypes.
- Cloud and Edge Computing: By offering scalable resources, integration, and real-time data access, cloud and edge computing improve smart manufacturing. They also lower latency, boost security, and facilitate quick decision-making through localised data processing.
- Advanced Sensors: Advanced sensors can monitor variables like humidity, pressure, and temperature while delivering real-time data to support decision-making.
- Big Data Analytics: Big data enables the analysing of vast amounts of data to find patterns, streamline procedures, and inform strategic choices in logistics, supply chain management, and production.
- Digital Twins: Digital twins are an exciting technology, used in many different industries to generate virtual replicas of real assets or operations in order to model, assess, and fine-tune performance in a virtual environment prior to deployment.
- Blockchain: Blockchain technology is used in supply chain management and to enable safe, transparent, and traceable transactions.
- Augmented Reality (AR) and Virtual Reality (VR): AR and VR are commonly used for remote assistance, training, and virtual environment visualisation of intricate designs or processes.
Top 5 Leading Companies in Smart Manufacturing
ABB (Switzerland)
Headquarters: ZĂŒrich, Switzerland
CEO: Björn Rosengren
Revenue: 32.2 billion USD
ABB is a Swedish-Swiss multinational company that specialises in smart manufacturing technologies, including advanced robotics, machine automation, and control systems. ABB is one of the world’s leading suppliers of industrial robotics, installing over 500,000 robots worldwide. These robots serve a variety of industries, such as automotive, food and beverage, chemical, pharmaceutical, and more.
Solutions for smart manufacturing allow supplier networks, smart factories, and customers to have fully connected, cooperative manufacturing systems that adapt in real-time to changing demands and situations. By better gathering and utilising data to boost quality, speed, flexibility, and efficiency, ABB is promoting optimised production.
ABB Smart Manufacturing provides solutions for different types of manufacturing, including:
- Discrete
- Food and beverage
- Pulp and paper
- Cement
- Metals / Steel
- Battery
Siemens (Germany)
Headquarters: Munich, Germany
CEO: Roland Busch
Revenue: 77.769 billion EUR
Siemens is a German multinational company that specialises in the manufacture of industrial products, including electronics, power generation and transmission, automation and health technology. Siemens is also a leader in the development of new technologies, automated industrial production, controlled robots or the incorporation of AI.
The Siemens concept of a âSmart Factoryâ illustrates how IoT technology and the building envelope interact in a smart manufacturing journey. This means making investments in smart infrastructure in order to obtain measurable insights for sustainability, personnel optimisation, and facility efficiency goals.
Schneider Electric (France)
Headquarters: Rueil-Malmaison, France
CEO: Peter Herweck
Revenue: 35.9 billion EUR
Schneider Electric is a French multinational company that specialises in industrial automation, building automation, and energy management. It combines energy technology, real-time automation, software, and services to handle buildings, households, data centres, infrastructure, and industries.
Known widely as “smart manufacturing,” the digital enterprise, or the IIoT, this concept is opening options for manufacturers worldwide. With Schneider Electric, creating a tailored, sustainable and connected Industry 4.0 is possible, thanks to their EcoStruxure series of products and software, enabling optimisation with a higher level of platforming data.
Mitsubishi Electric (Japan)
Headquarters: Chiyoda City, Tokyo, Japan
CEO: Kei Uruma
Revenue: 5.25 trillion JPY
Mitsubishi Electric is a Japan-based multinational manufacturer of electronics and electrical equipment. It began operations as a spin-off from Mitsubishi Shipbuilding’s electrical machinery production division at the Kobe Shipyard in 1921. Mitsubishi Electric offers intelligent automation solutions that help maximise output, satisfy client demands, adhere to and surpass strict international environmental regulations, and stay ahead of the curve in market trends.
Smart technology improves corporate performance by facilitating more output, less waste, and precise execution. With smart automation solutions from Mitsubishi Electric that link every facet of your manufacturing process, you can benefit from data-driven intelligence that will enable adjustments, cut down on lost time and energy, and close gaps in your production line.
Honeywell (US)
Headquarter: Charlotte, North Carolina, United States
CEO: Vimal Kapur
Revenue: 36.66 billion USD
Honeywell is a worldwide business which focuses mainly on aircraft, building automation, performance materials and technologies, and safety and productivity solutions. Honeywell assists businesses in addressing the most difficult problems facing automation, the aviation industry’s future, and the energy transition.
Honeywell has a wide range of health and safety products and is supporting smart manufacturing, including:
- Industrial equipment
- Food and beverage
- Automotive
- Chemicals
- Consumer packaged goods
- Semiconductors
It is possible to monitor all raw materials, components, and completed items moving through your production process in real time with Honeywell Workflow solutions. This data can be used to streamline procedures, guarantee product quality, and uphold constant quality control.
Other Leading Companies in the Field of Smart Manufacturing
The companies mentioned in this article above are the leaders in smart manufacturing, but there are many more brands that have made their mark in this field, such as:
- Fanuc Corporation (Japan)
- General Electric (US)
- Rockwell Automation (US)
- Yokogawa Electric (Japan)
- IBM (US)
- Emerson Electric Company (US)
- OMRON (Japan)
- Festo (Germany)
- Danfoss (Denmark)
- General Motors (US)
The Future of Smart Manufacturing
Smart technologies are going to change the industry for the better. By predicting and preventing problems, AI and predictive analytics will increase productivity, decrease downtime, and improve product quality. Cobots, or collaborative robots, that we mentioned earlier on will operate alongside people in the future (Industry 5.0) thanks to advanced robotics and automation, increasing accuracy and productivity.
A highly connected environment made possible by IoT will allow for real-time data interchange and well-informed decision-making. This will enable firms to promptly adjust to fluctuations in the market. Also, the field of additive manufacturing, or 3D printing mentioned in the âkey technologies in smart manufacturingâ chapter, will keep expanding because it makes it possible to create complicated, customised things faster and with less waste.
Additionally, as the world strives for a more sustainable future, sustainability will become essential as businesses implement eco-friendly procedures and technology, such as sustainable materials and renewable energy sources. It is important, however, to not forget about protecting sensitive data and preserving the integrity of linked systems; this will require cybersecurity measures.
All things considered, the future of smart manufacturing holds the potential of previously unheard-of levels of sustainability, creativity, and efficiency that will propel the sector forward and establish new benchmarks for output.
Have You Embraced Industry 4.0?
Upon examining the leading smart manufacturing enterprises propelling the industrial future, industry titans such as Siemens, Honeywell, Schneider Electric, and others emerge as innovators in the field. These industry pioneers are not only embracing cutting-edge technologies, but they are also establishing the benchmark for manufacturing in the future. Therefore, after finding out how incorporating smart manufacturing into facilities enhances your business, it’s time for you to get started and take your company to the next level.
Examine your own manufacturing procedures while you think about the developments and achievements of these prominent figures in the industry. Do you intend to utilise Industry 4.0 to its fullest extent? You can boost productivity, cut expenses, and maintain your competitiveness in a market that is changing quickly by integrating these technologies. The benefits of smart manufacturing are evident and come with a continual journey towards better operational performance, increased innovation, and a stronger position in the market.
