UK smart manufacturing market is projected to grow at a significant CAGR of around 14.8% during the forecast period (2020-2026). The market for smart manufacturing in UK is projected to grow at a high rate during the forecast period, backed by the rising focus of the companies towards the deployment of smart manufacturing technologies in the factories, which is further supported by the government funding for the same. In September 2020, the Government of UK announced the funding of around $389 million (£300 million) for boosting the manufacturing sector of the country.
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Though the Manufacturing Made Smarter Challenge, the Government of UK have planned to invest around $190 million to support companies introducing smart manufacturing technologies that can accelerate manufacturing productivity, create jobs, and assist in reaching new customers. This challenge will further support the deployment of smart manufacturing technologies in the small and medium enterprises (SMEs). In addition, it is expected to create national network of innovation hub in UK, allowing businesses to meet, discuss, share, and deploy advice to accelerate growth of manufacturing sector in the country. Therefore, through such government funding and initiatives/programmes, the market for smart manufacturing is expected to rise in UK during the forecast period.
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UK Smart Manufacturing Market – Segmentation
By Component
- Hardware
- Software & Services
By Technology
- Programmable Logic Controller (PLC)
- Supervisory Controller and Data Acquisition (SCADA)
- Machine Vision
- Distributed Control System (DCS)
- Product Lifecycle Management (PLM)
- Others (3D Printing)
By End-Use Industry
- Healthcare
- Automotive
- Aerospace & Defense
- Oil & Gas
- Food & Beverages
- Others (Chemical and Metals and Mining)
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