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Industrial robots assisted by artificial intelligence (AI) can learn from experience and also can be reconfigured and repurposed. The robots have the ability to respond rapidly to design changes and innovation, which is a competitive advantage over the more traditional manufacturing process, consequently strengthening the market growth of smart manufacturing. Advanced technologies and artificial intelligence have replaced the traditional process of manufacturing. Smart manufacturing uses data analytics to ease complicated and difficult processes and manage the supply chain smoothly. The rising demand for simplified processes in various industries is aiding the market growth of smart manufacturing. Artificial intelligence eliminates the inefficiencies and enables robots to perform more physical tasks of manufacturing, which is a crucial catalyst for the market growth. They can predict, and that helps to facilitate better strategies for scheduling production runs. In smart manufacturing system, production processes can automatically generate, transmit and process data without human intervention, consequently bolstering the market growth.
Schneider Electric SE (NASDAQ; SBGSF), one of the key players of the market, launched grid flexibility with the release of EcoStruxure(TM) DERMS in November 2019. EcoStruxure™ DERMS provides centralized analysis and control of all types of DER, regardless of ownership entity, to deliver value to the grid and all energy stakeholders. As the DER landscape evolves, DERMS enables utilities to orchestrate distributed generation and deliver electricity while improving the safety, reliability and quality of service. A centralised approach also delivers visibility into aggregated and individual DER activity at system and local levels, empowering operations and planning to optimise DER resources to resolve immediate issues and prevent future grid constraint violations. Such innovations are expected to augment the growth of the market.
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The major players in the global market for smart manufacturing are ABB Ltd., Emerson Electric Co., Rockwell Automation, Inc., Mitsubishi Electric Corporation, FANUC America Corporation, and Schneider Electric SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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