The Global Smart Factory Market Report is a compilation of comprehensive research studies of various aspects of the Smart Factory Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Smart Factory market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Smart Factory market and how they will evolve in the years to come.
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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).. 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.
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.
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Global Smart Factory Market:
- By Offering
- Hardware
- Controller
- 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
- Discrete Manufacturing
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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