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Top 10 manufacturing market growth predictions 2024 – 2028

Featuring the likes of IoT, AI, additive manufacturing, cybersecurity and more, we take a look at 10 manufacturing market predictions expected over the next seven years and what is driving their growth.

10. Digital twins market size 2025

With leading organisations such as General Electric, PTC, Dassault Systemes, IBM, Siemens and Oracle driving innovations in the digital twins market, latest ‘Global Digital Twin Market Research Report 2021-2026’ from Market Insights Reports expects the industry to see a 36.4 per cent CAGR, reach US$7868.4mn by 2025.

9. Robotics process automation (RPA) market size 2027

With several factors driving the robotics process automation (RPA) market – cloud adoption, the rise in ecommerce, advancements in retail technology, cost and time optimisation – Latest findings from Data Bridge Market Research values the industry at US$379.87mn by 2027 with a CAGR 7.10% between 2020 and 2027.

Some of the key players in the market include: UiPath, AUTOMATION ANYWHERE, Blue Prism Limited, NICE and KUFAX Inc.

8. Industrial cybersecurity market size 2026

Safeguarding industrial conditions from cyber risks, the rise in digitalisation and cloud adoption is driving the market’s growth. Latest reports from Research and Markets expects industrial cybersecurity to reach US$22.8bn by 2026 with a CAGR of 7.2% between 2020 and 2027.

Some of the key players in the market include: Microsoft Corporation, Honeywell International, Inc., IBM Corporation, Cisco Systems, Inc., Siemens AG and Schneider Electric SE.

7. Industrial services market size 2026

With the market experiencing a growing need for operational excellence, increasing demand for maintenance as a service, and increasing equipment complexity, Valuates Reports industry analysis expects the industrial services market size to reach US$32.3mn by 2026, with a CAGR of 4.4%.

Key players in the market include: ABB, Siemens AG, General Electric, Emerson Electric, and Honeywell International Inc.

6. Additive healthcare manufacturing market size 2028

Latest Healthcare Additive Manufacturing Market Report by Research and Markets expects the market’s value to reach US$6.4bn by 2028 with a CAGR of 21.8% between 2021 and 2028.

Within the report the company attributes its success to the benefits it can provide over conventional manufacturing methods including the application of advanced technology, use of a wide range of materials, design flexibility, speed and dimensional accuracy.

5. Internet of things (IoT) manufacturing market size 2026

With the use of IoT in multiple applications across industries, Fortune Business Insights identifies the growing demand for automated machines and equipment in the manufacturing industry is leading to a wider adoption of IoT. As such the global IoT in manufacturing market size is expected to reach US$136.83bn by 2026.

Key players in the market include: IBM, Intel Corporation, Siemens AG, Microsoft Corporation, and SAP SE.

4. Pharmaceutical contract development and manufacturing market size 2025

Driven by rising demand for generics, increasing investments in pharmaceutical Research and Development (R&D), and investments in advanced manufacturing technologies, Markets and Markets reports that the pharmaceutical contract development and manufacturing market is expected to reach US$146.1bn by 2025, with a CAGR of 7.7% between 2020 and 2025.

3. Electronic manufacturing services 2024

With increased adoption of smart manufacturing being a key factor in the market’s growth, latest analysis from Technavio reports that the global electronics manufacturing services market between 2020 and 2024 is expected to grow by US$118.49bn, with the APAC region showing promise to be the key growth region for the industry.

2. Artificial intelligence market size 2026

Most widely used in factory automation, order management, and automated scheduling, recent analysis from Valuates Reports, expects the global artificial intelligence (AI) in manufacturing market size to reach US$4798m by 2026, at a CAGR of 28.1% between 2021 and 2026.

1. Modern MES market size 2027

With prominent players such as General Electric, ABB Ltd., SAP SE, Siemens AG, Rockwell Automation, Inc., Dassault Systèmes, and Honeywell International Inc., driving innovation in the market. Latest findings from Market Research Future (MRFR) predicts that the modern manufacturing execution systems (MES) market will reach US$46.37bn by 2027, with a CAGR of 15.41% between 2019 and 2027.