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The global Smart Manufacturing market is expected to grow significantly due to the integration of advanced technologies like IoT, AI, and automation. These technologies optimize production efficiency, enable predictive maintenance, and elevate decision-making, fostering adaptability and competitiveness in rapidly evolving industries. The use of technologies such as Plant Asset Management (PAM), industrial 3D, and digital twin enables reducing excess time and cost required in manufacturing. The increase in adoption of IIoT and cloud technologies presents a significant opportunity for the market’s growth.
