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Smart Manufacturing Market worth $479.17 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Oct. 14, 2024 /PRNewswire/ — The global Smart Manufacturing Market is projected to reach USD 479.17 billion by 2029 from USD 233.33 billion by 2024; it is expected to grow at a CAGR of 15.5% according to a new report by MarketsandMarkets™. The smart manufacturing market is driven by several key factors, including the emphasis on boosting manufacturing efficiency through automated production. Strong and continuous investments by the government in 3D printing technologies are helping push the market even further Additionally, the need to maintain regulatory compliance for industrial solutions remains crucial as businesses adopt advanced technologies. There is also a rising demand for innovative solutions to minimize manufacturing downtime and reduce production waste.  For instance, the use of real-time data analytics in factories help companies optimize operations hence efficiency while reducing production waste.

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Browse in-depth TOC on “Smart Manufacturing Market” 
288 – Tables
83 – Figures
374 – Pages

Smart Manufacturing Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 233.33 billion by 2024

Estimated Value by 2029

$ 479.17 billion by 2029

Growth Rate

Poised to grow at a CAGR of 15.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By technology, industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Security issues in smart manufacturing

Key Market Opportunities

Rapid developments in IIoT and cloud computing

Key Market Drivers

Rising demand for innovative technologies to minimize manufacturing downtime and production waste

Digital transformation systems segment is expected to account for the largest share of the smart manufacturing market during the forecast period.

The digital transformation systems segment accounted for the largest share of smart manufacturing market in 2029. Digital transformation systems include Al in manufacturing, industrial cybersecurity, digital twin, and AR & VR in manufacturing. Growth in this segment is due to the growth of innovative technologies such as AI and the necessity to implement faster and more efficient manufacturing abilities. Furthermore, these technologies create immersive training environments that promote workforce knowledge retention and skills development. For instance, AR can layer digital information onto physical equipment like guidance by technicians in real time during repair and maintenance tasks.

Energy and Power segment to exhibit highest CAGR in the forecast year.

Significant growth opportunities are available for vendors of automation solutions in alternative energy sources, such as wind, solar, and hydropower. Moreover, rapid industrialization, infrastructural development, and the integration of advanced technologies by various industries result in increased demand for power and energy. More stabilized electricity production can fulfill high energy demand, which requires higher plant performance and flexibility. This enforces the burden on plant operators to monitor and control the plant more efficiently.  Thus, the adoption of advanced smart manufacturing technologies, such as HMI and PAM, is increasing significantly in the energy & power industry. Energy and power suppliers have already begun their shift toward smart manufacturing platforms owing to the rising inefficiencies of traditional methods. This adoption makes the suppliers more efficient in energy management, leading to cost savings and an eco-friendly landscape.

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Asia Pacific is expected to hold the largest market share of the smart manufacturing market during the forecast period.

The growth of smart manufacturing market in Asia Pacific can be attributed to rapid industrialization, commercialization of IIoT applications and  increasing adoption of industrial robot. Asia Pacific is a manufacturing hub; hence, motor vehicle suppliers, such as Volkswagen (Germany), Toyota (Japan), Renault-Nissan (Netherlands), and Daimler (Germany), and local manufacturers, such as Tata Motors (India) and Hyundai Motors (South Korea), invest heavily in the smart factory market in Asia Pacific. Most key manufacturers from different industries have shifted their manufacturing plants to Asia Pacific due to the low labor costs and the availability of skilled labor in the region.

Key Players

The key companies in the smart manufacturing companies include 3D Systems, Inc. (US), ABB (Switzerland), Cisco Systems, Inc. (US), Emerson Electric Co. (US), General Electric (US), Honeywell International Inc. (US), and IBM (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC.
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TapestryHealth and Third Eye Health Announce Strategic Partnership

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Undeniable synergies accelerate growth while exponentially improving care

STRATFORD, Conn., Jan. 13, 2025 /PRNewswire/ — TapestryHealth is excited to announce a new strategic partnership with Third Eye Health, a move that will enhance the technical capabilities of Third Eye’s clinicians while significantly expanding TapestryHealth’s reach into hundreds of additional post-acute care facilities across the United States.

The partnership will allow Tapestry to offer Third Eye Health’s best-in-class virtual care solution to its customers to provide on demand care on nights and weekends as part of Tapestry’s comprehensive technology and provider solution for creating an integrated 24/7 safety net wrapped around each resident. This will expand the technical capabilities for the clinicians on the Third Eye Health team.

“TapestryHealth has evolved from a technology-enabled telemedicine provider into one of the nation’s leading technology companies serving the post-acute care sector,” said Mordy Eisenberg, Co-Founder and Chief Growth & Product Officer of TapestryHealth. “Given our origins in telemedicine, we were often viewed as competitors to Third Eye Health. However, this partnership makes far more sense. Today, Tapestry offers the most comprehensive suite of healthcare technologies for skilled nursing facilities (SNFs) across the country. By integrating these technologies, we empower Third Eye’s clinicians to transition from being reactive responders to proactive care providers and allow us to offer Third Eye’s proven, vetted telehealth solution to our customers.”

Dan Herbstman, Co-Founder and CEO of Third Eye Health, echoed this sentiment: “The synergies between our two companies are undeniable. Tapestry has a deep understanding of our business and the advanced technology to elevate our service capabilities immediately. With our extensive national network and established presence in the post-acute care space, we are uniquely positioned to accelerate Tapestry’s growth while enhancing the quality of care provided to tens of thousands of elderly residents. This partnership truly exemplifies a win-win scenario.”

The collaboration began in November 2024, with both teams working closely to integrate their respective strengths. In a joint statement, Dr. Zahra Shariff, Chief Medical Officer of Third Eye Health, and Dr. Hans Jenkins, Chief Medical Officer at TapestryHealth, said, “This partnership will positively impact thousands of nursing home residents by offering a higher standard of care and providing hospitals with trusted post-acute facilities capable of delivering advanced 24/7 medical services.”

About TapestryHealth

TapestryHealth is the leader in monitoring and managing the health risk of the nation’s chronically ill senior population, delivering daily patient-centric health risk analytics, monthly health assessments and continuous vitals monitoring.

TapestryHealth is working in collaboration with its provider partners and in strategic alignment with public and private payors to deploy an integrated platform of technology and services which accelerate care interventions to patients and help bolster clinical capacity in long term care settings. Learn more at tapestryhealth.com.

About Third Eye Health
Third Eye Health is the leading virtual care provider and platform in the post-acute and long-term care settings. The company is focused on providing expert medical care at the bedside, ensuring the patient and resident gets the right care, at the right place at the right time to help prevent unnecessary trips to the hospital. During nights, weekends and holidays, Third Eye Health offers immediate virtual access to post-acute experienced physicians, nurse practitioners and physician assistants through its proprietary technology, integrated into workflow and existing electronic health records systems, paired with a care coordination system and analytics and reporting platform. Third Eye Health is growing rapidly with almost 1,000 customers, including the leading skilled nursing, senior living, primary care provider groups, accountable care organizations, health systems and insurers.

Contact: Mordy Eisenberg
meisenberg@tapestryhealth.com (845) 517-7842

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SOURCE TapestryHealth

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Wealth Access Announces Integration with Q2’s Digital Banking Platform

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Financial Institutions can now provide data insights solution to account holders through Q2’s Digital Banking Platform

NASHVILLE, Tenn., Jan. 13, 2025 /PRNewswire/ — Wealth Access, the leading customer data insights platform that unifies and enriches data to power hyper-personalized experiences for financial institutions, today announced an integration with Q2’s Digital Banking Platform, via the Q2 Partner Accelerator Program. Q2 Holdings, Inc. (NYSE: QTWO) is a leading provider of digital transformation solutions for financial services.

Wealth Access’ integration with the Q2 Digital Banking Platform allows financial institutions to access their data through a single entry point. Through intelligent data unification across multiple systems, the platform generates dynamic balance sheets, allowing service teams to break down silos, view each client’s complete financial history, and collaborate across business lines. Wealth Access delivers deep insights that fuel hyper-personalized banking interactions, strengthen customer loyalty, and drive increased revenue.

The Q2 Partner Accelerator Program, through the Q2 Innovation Studio, allows in-demand financial services companies who are leveraging the Q2 Software Development Kit (SDK) to pre-integrate their technology to the Q2 Digital Banking Platform. This enables financial institutions to work with these partners, purchase their solutions and rapidly deploy their standardized integrations to their customers.

Lisa Fulton, COO at Lake City Bank, said, “At Lake City Bank, relationships and innovation are our foundation. Our integrations with Wealth Access and Q2 embody this commitment, enabling us to deliver an accessible digital banking solution with a seamless Wealth Advisory customer experience.”

“Bankers continue to grapple with data silos, isolating valuable customer information and disrupting the customer experience,” said David Benskin, CEO and founder of Wealth Access. “Our platform unifies and enriches the bank’s existing data to drive more effective decision-making and enhance customer experiences. Through our Q2 integration, Wealth Access is helping bankers unlock greater revenue potential and maximize customer experiences.”

“We’re excited to welcome Wealth Access to the Q2 Accelerator Partner Program to make integrated wealth advisory services available to interested financial institutions and their end customers through the Q2 Digital Banking Platform,” Johnny Ola, SVP of Q2 Innovation Studio at Q2 said. “It’s great to see the collaboration between Wealth Access and Lake City Bank to offer these capabilities and services.”

To learn more about Wealth Access and the Q2 Innovation Studio Partner Accelerator Program, please click here.

About Wealth Access

Wealth Access is the leading wealth data insights platform, pioneering the transformation of wealth management in banking. By intelligently unifying records across multiple systems, Wealth Access creates living balance sheets that enable service teams to see each client’s complete financial story, work across business lines to improve customer loyalty and drive higher revenue. As a result of its innovative enterprise-class solutions, Wealth Access today supports a variety of clients from RIAs, trust companies, brokers, regional and national banks.

About Q2 Holdings, Inc.

Q2 is a leading provider of digital transformation solutions for financial services, serving banks, credit unions, alternative finance companies, and fintechs in the U.S. and internationally. Q2 enables its financial institution and fintech customers to provide comprehensive, data-driven digital engagement solutions for consumers, small businesses and corporate clients. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com. Follow us on LinkedIn and X to stay up to date.

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SOURCE Wealth Access

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Baseus Wins Three Prestigious Awards Following CES 2025 Innovation Honors

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LAS VEGAS, Jan. 13, 2025 /PRNewswire/ — Building on the momentum of winning two CES Innovation Awards earlier this year, Baseus has achieved yet another milestone by securing three additional prestigious awards at CES 2025. These accolades reinforce Baseus’ position as a leader in the consumer electronics industry and highlight its unwavering commitment to user-centric innovation.

Award-Winning Products: A Testament to Excellence

CES Innovation Awards Honorees

The CES Innovation Awards, known for celebrating outstanding design and engineering in consumer technology, recognize groundbreaking innovation and products that significantly benefit users. Baseus’ recognition as a two-time honoree in 2025 showcases its technological leadership and dedication to enhancing modern lifestyles.

Baseus EnerGeek MiFi Power Bank

The Baseus EnerGeek MiFi Power Bank was named one of the CES Innovation Awards 2025 honorees for its groundbreaking innovation in mobile power solutions. This 3-in-1 67W power bank is perfect for both leisure and business travel, offering seamless cross-regional 4G connectivity for up to 10 devices across 100+ countries. Its eSIM-enabled design allows users to manage and recharge data effortlessly via the Baseus app. Compact and lightweight, the power bank boasts a 20,000mAh capacity, delivering reliable power alongside flexible, customizable mobile internet data plans.

Baseus Spacemate Series 11-in-1 (Mac) Docking Station 

The Baseus Spacemate Series 11-in-1 (Mac) Docking Station, a CES Innovation Awards 2025 honoree, redefines efficient workspaces with 4K@60Hz triple display support for macOS powered by DisplayLink technology. It delivers superior productivity with 10Gbps data transfer, 100W PD fast charging, and a sleek upright design with a magnetic base for better cable management. The built-in LED screen displays real-time connection status, while a screen-lock button ensures data security, seamlessly blending performance, organization, and privacy into one innovative device.

CES Picks Awards 2025 – TechRadar Pro Picks

The TechRadar Pro Picks Award celebrates brands that lead the industry with innovation and creative solutions. Judged by a panel of seasoned industry experts, this award recognizes the best new products showcased at CES.

According to TechRadar Pro’s editorial team, the award honors exceptional achievements across consumer technology, custom installations, and groundbreaking innovations that enhance businesses of all sizes. Baseus was among the standout winners, a reflection of its dedication to creating practical, reliable, and user-focused solutions.

Baseus Spacemate Series 11-in-1 (Mac) Docking Station

Winning the TechRadar Pro Picks Award, the Baseus Spacemate Series 11-in-1 (Mac) Docking Station raises the bar in modern workspaces with its versatile features and productivity-focused design.

Baseus Nomos Qi2 5-in-1 140W Desktop Charger

The Nomos Qi2 5-in-1 140W Desktop Charger, among the other product offerings honored with the TechRadar Pro Picks Award, is a must-have for hybrid workspaces. Featuring five high-performance ports and Baseus’ advanced BSFT (Baseus Safe Fast Charging) technology, it delivers unmatched speed, safety, and reliability—perfectly tailored to meet the demands of modern professionals.

Trusted Reviews Best in Show CES 2025

Baseus Spacemate Series 11-in-1 (Mac) Docking Station

The Trusted Reviews Best in Show Award is a hallmark of innovation and excellence, celebrating the most deserving technology at CES. The Baseus Spacemate Docking Station captured this coveted award for its cutting-edge functionality, elegant design, and unparalleled performance.

Trusted Reviews commended the product’s ability to push its category forward, providing professionals with an exceptional tool tailored to their needs. Winners of this award receive the Trusted Reviews seal of approval, benefiting from coverage across the platform’s website and social media channels, which reach millions of readers globally.

From Innovation to Industry Leadership: Baseus Continues to Shine

The five prestigious awards garnered at CES 2025 further cement Baseus’ position as an industry leader. With two CES Innovation Awards, two TechRadar Pro Picks Awards, and the Trusted Reviews Best in Show Award, Baseus showcases its unwavering dedication to innovation and excellence.

Guided by its philosophy, “Base On User,” Baseus remains committed to redefining technology with practical and reliable solutions that empower users worldwide. As the brand continues to set new benchmarks, it reaffirms its dedication to shaping the future of consumer electronics.

About Baseus

Founded in 2011, Baseus was born out of utmost care for users. The company embodies its slogan: Practical. Reliable. Base on User. This shows the pursuit of ultimate practicality to solve users’ problems with outstanding design and fashionable appearances that also reflect reliability, high quality, and cost-effectiveness. Baseus delivers a variety of products – including Portable Chargers, Desktop Chargers, Wall Chargers, Wireless Earbuds, and Docking Stations. Chosen by 300 million users and providing 6 billion services, Baseus delivers over 100 million practical and aesthetic products each year, continuously enhancing users’ sense of fulfillment. Join the Baseus family today to see a new world of technological innovation.

Media Contact:
Name: Baseus PR Team
Phone: +1 (213) 512-7063
Email: pr@baseus.com
Baseus Technology (HK) Co., Ltd

 

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SOURCE Baseus Technology (HK) Co., Ltd

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