Smart Factory Market Global Market – Overview
The smart factory market is a technological revolution in the manufacturing sector which can be operated through the digital network. This technological revolution is proficient enough to adapt, adjust and transmit the data at real time which defines the Smart Factory Market as more agile, precise, and predictive system characteristics as compared to the existing technology. The increase adoption rate of industrial robotics and rising awareness of cloud-based automation system integrated with Industrial Internet of things (IIoT) are expected to drive the market over the forecast period. On the other hand, high cost of installation industries to modernize the existing technology used in the industries are expected to hinder the growth of the smart factory market over the review period.
Increased efforts to improve the efficiency of manufacturing process is having a positive influence on the global smart factory market. Moreover, rising of internet of things (IoT) coupled with increased focus on reducing power consumption is reflecting favourably on the market’s growth. As disruptive technologies give rise to new industrial formats such as industry 4.0, manufacturing processes will become smarter and robust.
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Key Players:
Some of the major players in Global Smart Factory Market include Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Cognex Corporation, Oracle Corporation (U.S.), IBM Corporation (U.S.), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan) among others, are profiled in MRFR Analysis and are at the forefront of competition in the global Smart Factory market.
Global Smart Factory Market: Segmental Analysis
The report includes a detailed segmental analysis of the market based on components, technology, and end-user. By components, the market has been segmented into Industrial robotics (Articulated, Cylindrical, Scara & Cartesian robot), sensors and actuators and control device. By technology, the market has been segmented into enterprise resource planning (ERP), supervisory control and data acquisition (SCADA), programmable automation controller (PAC), programmable logic controller (PLC), distributed control system (DCS) and human machine interface (HMI). By end-user, the market has been segmented into machine manufacturing, oil & gas, aerospace & defense, electrical & electronics, automotive & transportation, chemical, pharmaceuticals, mining & metals, food & beverages and electric power generation.
Global Smart Factory Market: Regional Analysis
The regions that has been covered in the report include North America, Asia Pacific (APAC), Latin America, Europe, and the Middles East & Africa. Asia Pacific (APAC) market is expected to witness a significant growth over the next couple of years. This is primarily owing to the growth of the manufacturing sector in the region. Countries such as China and India are on their way to become global manufacturing hubs. In this regard, China has already gained a strong mileage being the world’s largest automobile manufacturer. Some of the advanced economies in the region such as Japan and South Korea are also expected to play an important role as they undergo substantial progress in industrial automation and robotics. North America and Europe are expected to remain the other two important markets for smart factory.
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Industry News
- The Mechanical Engineering Industry Association headquartered in Frankfurt am Main, Germany has reportedly prepared new detailed blueprint for Additive Manufacturing. The framework for this new plan includes a detailed process of developing the Smart Factory.
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