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U.S. Smart Manufacturing Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Cloud and On-Premises), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (Discrete Industry and Process Industry), and Regional Forecast, 2023-2030

Last Updated: April 08, 2024 | Format: PDF | Report ID: FBI107756



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The U.S. smart manufacturing market size was valued at USD 59.80 billion in 2022. The regional market is projected to grow from USD 66.18 billion in 2023 to USD 145.57 billion by 2030, exhibiting a CAGR of 11.9% during the forecast period.

Smart manufacturing, also known as Industry 4.0, is a transformative trend that is rapidly changing the way manufacturing is done in the U.S. The implementation of advanced technologies, such as artificial intelligence, the Internet of Things, robotics, and Big Data analytics is allowing manufacturers to optimize their operations, increase efficiency, and reduce costs.


Budget Cuts Caused by the Pandemic Negatively Impacted the Market

The COVID-19 pandemic caused many companies to tighten their budgets, which led to reduced investments in smart manufacturing processes and technologies. Many companies have delayed or canceled planned upgrades to their manufacturing facilities due to budget constraints. Investments in Research & Development (R&D) for Industry 4.0 have also been impacted. Companies were hesitant to invest in new technologies or processes during a period of economic uncertainty. This led to a slowdown of growth for a short period.


3D Printing Revolutionizing the Manufacturing Industry in the U.S.

3D printing is being increasingly adopted by manufacturers in the U.S., as this technology has become more affordable and accessible. In addition, the range of materials that can be used in 3D printing is also expanding with new materials being developed in the country specifically for additive manufacturing, which includes high-performance polymers, metals ceramics, and composites.

3D printing is being used widely in the U.S. medical industry to create personalized medical devices and implants, as well as for printing human tissues and organs for transplant. It is also being explored as a more sustainable manufacturing method as it reduces waste and energy consumption as compared to conventional subtractive manufacturing.


Government Supported Innovation Driving the U.S. Smart Manufacturing Market Growth

Collaboration between industry, academia, and government to initiate research and development programs in the country is one of the ways by which government promotes smart manufacturing. Research and development is crucial as countries that have consistent levels of innovation are also prone to have higher economic growth.

The federal government of the U.S. has commenced the Manufacturing USA initiative, which has generated a network of several manufacturing innovation institutes within the country such as America Makes (the nation’s leading collaborative partner for technology research, creation, innovation, and discovery in the field of 3D printing and additive manufacturing), ARM (Advanced Robotics Manufacturing), CESMII (Clean Energy Smart Manufacturing Innovation Institute), DMDII (The Digital Manufacturing and Design Innovation Institute), and IACMI (The Institute for Advanced Composites Manufacturing Innovation).


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High Cost of Implementation to Slow Down the Adoption of Smart Manufacturing 

Smart manufacturing requires an initial investment in new technologies such as automation equipment, Internet of Things (IoT) sensors, and software systems. This is a major hindrance, particularly for Small & Medium-sized Enterprises (SMEs) with limited resources.

At times, retrofitting existing equipment also adds up to the total cost of implementation. In addition, implementing such manufacturing technologies requires a workforce with specialized skills such as data analysis, automation, and programming. Therefore, companies may need to invest in workforce training to ensure their employees can operate and maintain new technologies. Industry 4.0 generates large amounts of data that needs to be stored, analyzed, and secured. Hence, companies may have to invest in new data management systems and security measures to manage data effectively.

Thus, owing to all these factors, the adoption of smart type of manufacturing has been limited.


By Component Analysis

Industrial 3D Printing to Constitute Highest Share Owing Increasing Adoption

Based on component, the market is segmented into services and solutions, with solutions holding the majority of the market share.

Solutions is further subdivided into industrial 3D printing, Product Lifecycle Management (PLM), Programmable Logic Controller (PLC), Manufacturing Execution Systems (MES), Remote Monitoring Software, Robotic Process Automation (RPA), Supervisory Controller and Data Acquisition (SCADA), and others (energy management systems, fleet management solution). Among these, industrial 3D printing holds the highest market share as its rapidly growing due to its rising adoption in aerospace, consumer goods, healthcare, and automotive industries.

The services segment is further subdivided into professional and managed services with professional services constituting a slightly higher market share. However, professional services segment also holds a decent market share and is expected to grow at a faster rate than managed services over the forecast period.

By Deployment Analysis

Cloud-based Deployment Dominates the Market Owing to Security Benefits and Low Cost

Based on deployment, the market is segmented into cloud and on premises.

Cloud segment holds the highest market share as well as CAGR over the forecast period owing to its numerous benefits, including flexibility, scalability, and cost-saving as there is no need to invest in expensive on premise hardware. On premises segment also holds a decent market share as it allows the manufacturer to keep their data within their infrastructure, providing greater security and control over information.

By Enterprise Size Analysis

Large Enterprises Hold Majority of the Market Share Owing Availability of More Resources

Based on enterprise size, the market is segmented into Small & Medium Enterprise (SMEs) and large enterprises.

Among these, the large enterprises segment dominates the market share as they have more resources which makes it easier for them to invest and implement smart manufacturing. They also have the advantage of economies of scale. On the other hand, SMEs also hold considerable market share as well as higher CAGR than large enterprises. By implementing this type of manufacturing, SMEs can improve their efficiency, reduce wastage, and improve product quality while reducing cost.

By Industry Analysis

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Industrial Machinery to Hold Highest Market Share Due to Increasing Adoption

Based on industry, the market is segmented into discrete industry and process industry, among which the discrete industry segment holds a higher market share as well as CAGR. 

The discrete industry segment is further subdivided into transportation, automotive, industrial machinery, semiconductor, medical devices, electronics/high tech, and others (defense, aerospace). Industrial machinery segment holds the highest market share as well as CAGR followed by automotive, semiconductor, and electronics, respectively.

The process industry segment is further subdivided into mining and metals, pharmaceuticals, chemicals, pulp and paper, and other (cable). Among these, the pharmaceutical, mining and metals, and chemical are the major contributing sectors of the process industry segment while the chemical industry segment is expected to grow at the highest CAGR over the forecast period.


The competitive landscape of the market is constantly evolving with many new players entering the market and existing players expanding their current offerings. Prominent companies such as Siemens, ABB, and Rockwell dominate the industrial automation market since they offer a wide range of smart type of manufacturing solutions, including automation and control systems, robotics, and software.

Honeywell, PTC, and Dassault Systemes provide industrial software solutions for smart manufacturing including Product Lifecycle Management (PLM), Computer Aided Design (CAD), and simulation software. Whereas, equipment manufacturers such as General Electric provide a range of equipment and devices for smart type of manufacturing including sensors, actuators, and controllers.


  • HP Development Company, L.P. (U.S.)

  • Emerson Electric Co. (U.S.)

  • General Electric (U.S.)

  • Honeywell International, Inc. (U.S.)

  • Rockwell Automation, Inc. (U.S.)

  • IBM (U.S.)

  • PTC (U.S.)

  • Cisco Systems (U.S.)

  • Cognizant (U.S.)

  • Siemens (Germany)


  • July 2021 – Cognizant enhanced its smart manufacturing offerings with the acquisition of TQS Integration, a global industrial data and intelligence company.

  • January 2020 – Rockwell signed an agreement to acquire Avnet Data Security, a cybersecurity solution provider. This acquisition is expected to enhance Rockwell Automation’s ability to provide cybersecurity solutions for its smart manufacturing customers.

  • April 2020 – Purdue University and Accenture collaborated for a five-year contract wherein Accenture would support Purdue in creating a workforce for next generation smart manufacturing.


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The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the U.S. market size & growth rate for all possible segments in the market. Along with the market forecast, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.




Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 11.9% from 2023-2030


Value (USD Billion)


By Component, Deployment, Enterprise Size and Industry

By Component

  • Solution

    • Industrial 3D Printing 

    • Programmable Logic Controller (PLC)

    • Product Lifecycle Management (PLM)

    • Manufacturing Execution System (MES)

    • Robotic Process Automation (RPA)

    • Remote Monitoring software

    • Supervisory Controller and Data Acquisition (SCADA)

    • Others (Energy Management Systems, Fleet Management Solutions)

  • Services                      

    • Professional Services

    • Managed Services

By Deployment

  • Cloud

  • On-Premises

By Enterprise Size

  • Large Enterprises

  • Small & Medium Enterprises

By Industry

  • Discrete Industry

    • Automotive

    • Transportation

    • Industrial machinery

    • Medical devices

    • Semiconductor and Electronics/High-Tech

    • Others (Aerospace and Defense)

  • Process Industry

    • Pharmaceuticals

    • Mining and Metals

    • Chemicals

    • Pulp and Paper

    • Others (Cable)

Frequently Asked Questions

Fortune Business Insights says that the value of the U.S. market was USD 59.8 billion in 2022.

The market is projected to reach USD 145.57 billion by 2030.

The market is projected to grow at a CAGR of 11.9%, exhibiting high growth during the forecast period (2023-2030).

The manufacturing executive system segment is anticipated to lead the market during the forecast period.

Government supported innovation to drive U.S. market.

HP Development Company, L.P., Emerson Electric Co., General Electric, Honeywell International, Inc., Rockwell Automation, Inc., IBM, PTC, Cisco Systems, Cognizant, Siemens are the top companies in the market.

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