The global smart manufacturing market size was valued at USD 259.63 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2030. The rising growth of the market is a result of the growing implementation and adoption of Industry 4.0. The increase in automation and software-based processes has added to the market share. Smart technologies have been able to provide the global market with real-time analysis and synchronization which help reduce costs and save time. The market is directly proportional to technological developments, where both grow together.