Attributed to the rapid growth in the adoption of automated systems in industrial processes, the global smart manufacturing market is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026. While COVID-19 has somewhat slowed down the market's growth, it is expected that by the second to third quarter of 2023 there will be a'considerable' rise in growth for the market. Making people's lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value. By 2027, the global industrial automation market is expected to reach US$326.14bn Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the smart factory market - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.