Smart Manufacturing: Trends and Startups 2019
Next Global Tech 50
We have prepared a series of research reports on the new generation of companies across several sectors around the globe. Our coverage includes 11 industries that have been affected the most by cutting-edge technology and are likely to shape the international economic landscape of tomorrow. This series is to be presented during the World Innovators Meet 2019, an annual event that gathers global leaders from a variety of fields at the heart of Beijing.
In this report, EqualOcean undertakes a study to follow a clearer understanding of the current 'Smart Manufacturing' image under the fourth industrial revolution, and presents the list of the 'Top 50 Global Smart Manufacturing Startups 2019.' All of these are potentially game-changing startups in the manufacturing industry.
To complete this study, we have done desk research based on a various sources. Interviews have also been conducted with industry experts, institutional and private investors etc. to acquire more insights. Here are some key highlights from the study:
1. The global smart manufacturing market was valued at USD 177 billion in 2018, this figure was nearly 4 times that in 2015.
2. This year, based on the estimation on GDP growth respectively, the manufacturing value-added from the world’s largest economies US and China is expected to reach USD 6.4 trillion.
3. The industrial robotics market (excluding the prices of peripherals, software, and system engineering) was valued at USD 16.9 billion in 2018 and is expected to grow at a CAGR of 12% during 2019-2024 to reach USD 31.7 billion by 2024. The automotive industry has seen the biggest downstream application.
4. Among all manufacturing processes, predictable physical work is the most replaceable.
5. The total market size of additive manufacturing worldwide hit USD 9.68 billion in 2018, with a 5-year CAGR of 26.1%. Applications have moved from academia and consumables and electronics to aerospace and automobiles.
6. As the landscape of AI+Industrial, the market size of machine vision is expected to reach USD 15 billion in 2025, with a 5-year-CAGR of 14%.
Next Global Tech 50: Smart manufacturing
Reviewing the past, we've seen that as developed countries are ubiquitously maneuvering their way into the era of cyber-physical systems, the Internet of Things (IoT), cloud and cognitive computing, developing economies – areas which have been lagging far behind over the past century, are now emerging into the next era of global growth and innovation. Even though manufacturing giants still dominate, with huge market shares, startups with solid 'hard technology' are standing out and becoming game-changers.
In this list, we focus on several verticals: industrial robotics, additive manufacturing (3D printing), machine vision & IIoT, commercial aerospace, and others. More importantly, to filter the promising startups, we use several independent selection criteria (including funding information, market valuation as well as technological and macroeconomic indicators). It's necessary to understand the goal at hand before reading this list. We are trying to unearth the startups with the most potential in those verticals, instead of picking the current dominators.