A latest report from Absolute Markets Insights covers insights into the global Smart Factory market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Smart Factory market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Smart Factory report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Smart Factory report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Smart Factory market include: ABB, Atos SE, CISCO, Cognex Corporation, Emerson Electric Co., FANUC America Corporation, Hewlett Packard Enterprise Development LP., Honeywell, IBM Corp., Johnson Controls, Mitsubishi Electric Automation, Inc., Omron Corporation, Oracle, Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Schneider Electric, Siemens Digital Industries Software, The General Electric Company, Yokogawa India Ltd, and other market participants.
In terms of revenue, global smart factory market was valued at US$ 123.80 Bn in 2022 and is anticipated to grow at a CAGR of 13.3% over the forecast period (2022-2030).
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Smart Factory Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Smart Factory Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Smart Factory Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Smart Factory Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Smart Factory Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Smart Factory market?
Smart factory refers to a highly digitalized and connected production unit powered with advanced and automated machinery, production equipment and solutions. These products and solutions are created with the integration of various technologies such as artificial intelligence, big data, and industrial internet of things (IIoT) amongst others in order to build a fully connected and collaborative manufacturing unit. Rise in agility, predictability and efficiency in production is driving the adoption of smart factory solutions across the globe. Furthermore, the commercialization of 5G is expected to accelerate investment into smart factories by manufacturers over the forecast period. Increasing demand for stronger bandwidth for supporting high device connectivity in order to streamline data traffic and connect greater number of devices and sensors in the production system is anticipated to support the market growth. The connectivity of various network through 5G will also ensure more security and reliability in the production process. Thus, the increasing efficiency of smart factory solutions owing to 5G connectivity is expected to contribute to the growth of the smart factory market across the globe over the forecast period.
The rapid spread of the corona virus is expected to positively impact the global smart factory market over the forecast period. The nationwide lockdown has imposed major threats to the manufacturing industry and have thereby, influenced the adoption of digitalized solutions across the production site for efficient production. For instance, collaborative remote assistance have experienced a rise in adoption owing to travel restrictions and social distancing norms laid down by government bodies. Augmented reality is being used to provide step by step instructions to labours through their smartphones or other wearable devices to ensure proper on-site guidance in the production plants. Thus, the rising adoption of technologies by manufacturers to combat the current situation is expected to influence the adoption of the smart factory solutions, thereby, aiding the growth of global smart factory market over the forecast period.
Global Smart Factory Market Segmentation:
Global Smart Factory Market By Offering (Hardware (Controllers (Computerized Numerical Controllers (CNCs), Programmable Controllers, Motion Controllers, Others), Industrial Human-Machine Interface (HMI), Industrial And Collaborative Robots, Power Monitoring Products, Others), Software, Services (Design & Development Services, Implementation Services, Training & Consulting Services, Others)); By Technology (Big Data & Analytics, Edge/Cloud Computing, Artificial Intelligence (AI) & Machine Learning (ML), Industrial Internet Of Things (IIoT), Digital Twin, Robotics, Others); By Application (Industrial Security, Energy Management, Predictive Maintenance, Operations Management, Workforce Management, Others) By Organization Size (Large Organizations, Small And Medium Organizations); By End Use Industry (Discrete Manufacturing (Automotive, Consumer Products, Aerospace And Defence, Medical Devices, Pulp And Paper, Metal, Others) , Process Industries (Food And Beverage, Oil And Gas, Pharmaceutical, Chemical, Energy, Power And Utilities, Others)); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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