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Smart Manufacturing Market worth $995.67 billion by 2032 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., June 5, 2026 /PRNewswire/ — According to MarketsandMarkets™, the Smart Manufacturing Market is projected to reach USD 995.67 billion by 2032 from an estimated USD 380.21 billion in 2026, growing at a CAGR of 17.4% during the forecast period.

Browse 160 market data Tables and 70 Figures spread through 300 Pages and in-depth TOC on ‘Smart Manufacturing Market – Global Forecast to 2032’

Smart Manufacturing Market Size & Forecast:

Market Size Available for Years: 2021–20322026 Market Size: USD 380.21 billion2032 Projected Market Size: USD 995.67 billionCAGR (2026–2032): 17.4%

Smart Manufacturing Market Trends & Insights:

The smart manufacturing market is experiencing significant growth due to the increasing adoption of connected factory ecosystems, industrial automation platforms, and data-driven production strategies across manufacturing industries. Rising implementation of AI-enabled production systems, industrial robotics, and real-time process monitoring solutions is improving productivity, operational flexibility, and product quality across smart factory environments. In addition, growing focus on predictive maintenance, workforce optimization, and supply chain digitization is accelerating the deployment of advanced manufacturing technologies worldwide. Continuous advancements in digital twin platforms, machine vision systems, edge-enabled industrial networks, collaborative robots, and advanced industrial analytics are further supporting the transition toward intelligent, autonomous, and energy-efficient manufacturing operations globally.By Technology, the digital transformation segment is anticipated to witness the fastest growth at a CAGR of 29.6% throughout the forecast period, fueled by the rising shift toward intelligent production environments, integrated enterprise operations, and next-generation digital manufacturing frameworks.By Industry, the automotive segment is expected to account for the largest share of approximately 19% during the forecast period, driven by rising adoption of intelligent production systems, advanced robotics integration, and increasing investments in connected and highly automated manufacturing facilities.By region, North America is expected to hold a significant share during the forecast period, driven by rising Industry 4.0 investments, strong industrial automation adoption, expanding smart factory deployments, and advanced manufacturing ecosystems across the United States, Canada, and Mexico.

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Growth in the smart manufacturing market is fueled by the rising transition toward intelligent industrial operations, digitally synchronized production environments, and adaptive manufacturing ecosystems across global industries. Increasing emphasis on production agility, operational transparency, and resource optimization is encouraging manufacturers to deploy advanced automation platforms, connected industrial systems, and software-driven manufacturing technologies. Furthermore, continuous progress in industrial connectivity, machine intelligence, collaborative automation, and cyber-physical production systems is enhancing process accuracy, manufacturing flexibility, and factory-level decision support capabilities. Expanding modernization initiatives across automotive, electronics, aerospace, pharmaceuticals, and heavy industries are also generating strong demand for integrated and scalable smart manufacturing solutions worldwide.

Based on technology, the manufacturing operations system is expected to account for the second-largest share during the forecast period.

Based on technology, the manufacturing operations system (MOS) segment is expected to account for the second-largest share during the forecast period. The segment holds a significant position in the smart manufacturing market due to increasing demand for integrated production management, workflow coordination, and real-time operational monitoring across manufacturing facilities. Manufacturing operations systems enable manufacturers to improve production planning, quality control, inventory synchronization, and shop-floor visibility, supporting more efficient and streamlined industrial processes. Additionally, growing adoption of connected manufacturing environments and increasing integration between operational technologies and enterprise systems are further strengthening the market presence of manufacturing operations systems across modern industrial operations.

Based on industry, energy & power is expected to register the highest CAGR during the forecast period.

Based on industry, the energy & power segment is expected to register the highest CAGR during the forecast period. The segment is witnessing rapid growth in the smart manufacturing industry due to increasing investments in intelligent energy infrastructure, digital plant operations, and automated monitoring systems across power generation and energy facilities. Energy companies are increasingly deploying industrial IoT platforms, predictive maintenance systems, and AI-enabled asset management solutions to improve operational reliability and reduce unplanned downtime in thermal, nuclear, hydro, and renewable energy plants. For instance, smart manufacturing technologies are being used for real-time turbine monitoring in wind farms, automated inspection systems in solar panel manufacturing facilities, and digital control systems in power generation plants to enhance operational efficiency and equipment performance. Additionally, rising focus on grid modernization, remote operational visibility, and sustainable energy management is accelerating the implementation of connected industrial solutions across the global energy and power industry.

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Asia Pacific is expected to register the highest CAGR during the forecast period.

Based on region, Asia Pacific is expected to register the highest CAGR during the forecast period due to rapid industrial expansion, increasing factory automation investments, and strong government support for industrial modernization initiatives across China, India, Japan, South Korea, and Southeast Asia. Manufacturing industries across the region are increasingly adopting intelligent production technologies, connected industrial systems, and advanced automation platforms to improve manufacturing scalability and operational competitiveness. For example, automotive manufacturers in China and Japan are deploying AI-enabled robotic assembly systems, while electronics manufacturers in South Korea and Taiwan are investing in smart semiconductor fabrication facilities with advanced process automation capabilities. In addition, government-led Industry 4.0 programs, rising investments in industrial digitalization, and expanding manufacturing infrastructure are accelerating the adoption of smart manufacturing solutions throughout the Asia Pacific region.

The report profiles key players in smart manufacturing companies such as Siemens (Germany), ABB (Switzerland), Honeywell international Inc. (US), Rockwell Automation (US), Emerson Electric Co. (US), Schneider Electric (France), Yokogawa Electric Corporation (Japan), FANUC Corporation (Japan), 3D Systems, Inc (US), Cisco Systems, Inc. (US), IBM (US), Mitsubishi Electric Corporation (Japan), Oracle (US), SAP (Germany), and Stratasys (US). These players have adopted various organic and inorganic growth strategies such as product launches, capacity expansions, technology partnerships, supply agreements, collaborations, and investments.

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Karma Automotive Announces Eximius, the Bespoke Vehicle Program for Elite Clients Seeking Singular Expressions of Extreme Performance and Bold Craftsmanship

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The First Eximius Creation, “Eximius 1,” is a Menacing Four-Seater Built for the Track which Makes its World Premiere at the 2026 Concours at Wynn Las Vegas

LAS VEGAS, Oct. 31, 2026 /PRNewswire/ — Karma Automotive builds vehicles in the hundreds rather than the thousands, attracting a highly individualistic clientele seeking a unique statement. For those who wish to go further still, and explore new possibilities beyond the extensive options for personalization available through the Studio program, Karma has created the Eximius bespoke vehicle program. Eximius clients may modify the vehicle’s body, performance and powertrain, collaborating with Karma’s design and engineering teams to build a One-of-One statement which will never be repeated.

Karma Eximius clients may modify the vehicle’s body, performance and powertrain to build a One-of-One statement

The first vehicle from Karma Eximius debuts today at the 2026 Concours at Wynn Las Vegas. A menacing four-seater purpose-built for the track, “Eximius 1” is in ongoing development with its commissioning client, who is not revealed at this time. Upon delivery in 2027, “Eximius 1” will be fitted with an extreme-performance Plug-in Series Hybrid utilizing a 6.2 Liter V8 producing nearly 1200hp (550hp ICE, 645hp battery), delivering acceleration from 0-60mph in 2.7 seconds and a top speed in excess of 200mph (estimated). As these parameters would demand, “Eximius 1” will be equipped with carbon-ceramic brakes and two-piece slotted brake rotors, and Ohlins semi-active suspension.

“‘Eximius 1’ began as a conversation with an elite client who loves their Karma Revero, but wanted something more extreme and unexpected, which was music to our ears,” says Marques McCammon, President and Chief Executive, Karma Automotive. “The Eximius program effectively deletes the word ‘no’ from conversations about what’s possible,” he continues, “and as a four-seat track weapon packing what’ll be the most powerful Plug-in Series Hybrid powertrain and vehicle ever developed, ‘Eximius 1’ shatters expectations and further establishes Karma as a manufacturer of exotic, uniquely American vehicles.” 

Exterior Design
“Eximius 1” is an imposing vehicle to behold, exhibiting the muscularity and eyepopping strength of a superhero. Every panel – excluding the body surface outer – is constructed of pre-impregnated carbon fiber, and the vehicle is 50mm wider due to its wheel arch extensions. The front doors and hood have a unique technical fade from glossy, exposed regular carbon fiber to signature Borealis Blue paint.

The front carbon splitter sets an aggressive tone and is flanked by massive side air intakes incorporating Karma’s Target Acquisition Lighting, rotated 45º to create a distinctive ‘><‘ DRL graphic identity. On the hood, the dramatic arc of the Comet Line – which is inspired by Halley’s Comet is it streaks across the evening sky – widens from its apex towards the base of the windshield; vents above the front fenders release air pressure from the wheel housings and add further visual intrigue. Moving to the side of the vehicle, the front fenders aft of the wheels feature Karma’s signature “Backslash” bearing the number “5,” which is of particular significance to the commissioning client. 21″ Magnesium wheels with center-locks reduce rotating and unsprung mass, and are finished in satin black. Aft of the driver’s side front wheel, twin exhaust tips announce the fearsome new powertrain.

The full-width rear GT wing maximizes stability and downforce at high speeds, and continues the distinctive ‘><‘ DRL graphic identity established at the front of “Eximius 1.” The rear fascia also boasts large side air intakes which are connected by a dominant diffuser to manage underbody airflow.

Interior Design
An aura of intensity continues to the interior of “Eximius 1.” In concert with the exterior, blue-tinted carbon-fiber adorns the seats, flat-bottom steering wheel and doors; for aesthetics and weight-savings, all four doors are manufactured in exposed carbon fiber with one purposeful arm pad on each door. The seats, which are Recaro carbon fiber buckets up front, are trimmed with blue Alcantara and blue Italian leather with Moondust Alcantara upper sections, creating an articulated, form-fitted feel. To support high-speed driving and intense braking force, the accelerator, brake pedal and dead pedal are billet machined aluminum.

The instrument panel is reimagined in glossy carbon fiber and incorporates anodized billet aluminum HVAC vents. The carbon fiber center console is simplified to include the essentials only: the PRND gear selector, window switches, key fob holder, and Emergency kill switch. This console extends through to the rear compartment, to which the client’s custom-fitted carbon fiber racing helmet is held in place by a center-latched strap matching the blue seat belts.

About Karma Automotive
Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of Plug-in Series Hybrid vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. The Gyesera Grand Coupe, a Plug-in Series Hybrid four-seater, arrives at dealerships in December 2026; and the Amaris GT 2-Door Plug-in Series Hybrid arrives in Q4 2027. The Karma Kaveya Super Coupe, with over 1,000HP and butterfly-doors, will arrive in Q1 2028, to be followed by the Karma Ivara GT-UV: both EVs will incorporate SDVA (Software-Defined Vehicle Architecture) developed with leading technology partners. For more information, visit www.karmaautomotive.com) 

Media Contact:

Joe Richardson, (917) 716-6617
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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ModelBest and OpenBMB Open-Source MiniCPM-OCR Series, Delivering High-Performance Document Parsing and AI-Powered Quality Control

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BEIJING, Oct. 31, 2026 /PRNewswire/ — ModelBest and OpenBMB jointly announced the release and open-source availability of the MiniCPM-OCR series, a family of models for efficient document parsing and parsing-quality assessment. The launch includes two models: MiniCPM-OCR 1.0 (1.3B) and MiniCPM-OCR Jev (2B).

As the first OCR-focused model in the MiniCPM family, MiniCPM-OCR 1.0 brings top-tier parsing accuracy to a compact 1.3-billion-parameter architecture optimized for edge deployment, pushing forward the balance between efficiency and performance for open-source OCR models. Built for real-world conditions, it accurately parses scanned, photographed, curved, tilted and screen-captured documents without cumbersome image pre-correction, lowering the barrier to large-scale document digitization.

The model handles dense bilingual Chinese-English content, complex mathematical formulas, and multi-level or borderless tables, consistently performing at a leading level across a broad range of mainstream industry evaluations. Beyond full-page reconstruction, it supports key information extraction (KIE), pulling specified fields from invoices, IDs and financial statements according to business instructions.

Powered by DSpark decoding acceleration, MiniCPM-OCR 1.0 significantly increases end-to-end throughput while lowering per-page latency. For enterprises processing millions of pages—such as financial contract archives, academic libraries and government records—this means processing far more documents with the same hardware and time budget, at a substantially lower computing cost.

To address the long-standing need for page-by-page manual review, ModelBest and OpenBMB also introduced MiniCPM-OCR Jev, the first OCR result decision model that acts as an “AI quality inspector.” Rather than performing OCR itself, Jev compares the source image with OCR output and rapidly assigns confidence scores to text, LaTeX formulas and tables, detecting missing characters, errors and formatting misalignments. Despite its compact 2B-parameter size, Jev delivers judgment accuracy typically associated with far larger models.

Jev supports cross-model deployment and can be integrated into existing OCR workflows without replacing the underlying OCR engine. It can automatically identify reliable results for direct processing, flag potentially inaccurate outputs for human review and select the best result from multiple OCR systems. This enables enterprises to move from full manual inspection toward risk-based, automated quality control.

The MiniCPM-OCR series is available on GitHub, Hugging Face and ModelScope, and supports vLLM, SGLang, llama.cpp and Ollama, along with SDKs, APIs, Agent Skill plugins and open-source fine-tuning code. Day-0 hardware adaptation covers AMD, Arm, Houmo AI, Intel and NVIDIA. Through the FlagOS software stack, it also has Day-0 support for AI and edge chips from CIX Technology, Huawei Ascend, Hygon, Iluvatar CoreX, Kunlunxin, MetaX, Moore Threads, Sunrise, T-Head, TsingMicro, NVIDIA and Apple Mac (Arm).

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SOURCE ModelBest

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Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

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NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

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SOURCE Wulcea

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