Smart Factory Market Forecast and Trends Analysis Research Report 2020-2027

 

The GMI Research forecasts that the smart factory market is witnessing an upsurge in demand during the forecast period starting from 2020 till 2027. This is mainly due to the growing adoption of the Industrial IoT (IIoT), cost-saving, strong demand for industrial robots, and resource optimization.

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Top Manufacturers in the Smart Factory Market:

·        Siemens AG

·        Rockwell Automation, Inc.

·        Schneider Electric SE

·        ABB Group

·        General Electric Company

·        Honeywell International Inc.

·        FANUC

·        Mitsubishi Electric Corporation

·        Emerson Electric Co.

·        Yokogawa Electric Corporation

·        Robert Bosch GmbH

·        Stratasys, Ltd.

Smart Factory Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The growing adoption of the Industrial IoT (IIoT), cost-saving, strong demand for industrial robots, resource optimization, and the increasing importance of energy efficiency are the major factors surging the growth of the smart factory market size. Moreover, the growing emphasis on real-time data analysis, predictive maintenance, and better visibility will further fuel the growth of the smart factory market. The rapid development and the growing adoption of advanced and smart technologies across several leading industries, including energy & utilities, metal & mining, manufacturing, and oil & gas, are some other factors boosting the growth of the smart factory market share in terms of revenue. The strong demand for smart industrial solutions across all the major industries that control output and decrease labor & operational costs is propelling the market growth. All these factories are digitally advanced and connected facilities that improve manufacturing performance, followed by removing human workers in changing operations. Various benefits provided by smart factories include decreasing factory waste, effortless monitoring, and better speed of production, will bolster the growth of the smart factory market. On the other hand, the factors hindering the growth of the market include high initial capital investment and risk regarding the security of the cyber-physical system.

Regional Drivers

Based on the region, Asia-pacific is expected to grow at a higher CAGR during the forecast period. This is attributed to increasing technological innovation and the growing adoption of automation technologies in various industries such as food and beverages, manufacturing, and automotive. On the other hand, North America is anticipated to dominate the market during the forecast period due to the rising penetration of intelligent manufacturing & supply chain technologies in industries such as retail, food & beverages, manufacturing, metal & mining, oil & gas, healthcare among other. The increasing investment in research and development in IoT for advanced technology, followed by strong demand for enhanced lifestyle, are the major factors accelerating the growth of the market.

Smart Factory Market Segmentation:

Segmentation by Component:

·        Sensors

·        Industrial Robots

o   Traditional Industrial Robots

§  Articulated Robots

§  Cartesian Robots

§  Selective Compliance Assembly Robot Arm (SCARA)

§  Cylindrical Robots

§  Other Robots

o   Collaborative Robots

·        Industrial 3D Printing

·        Machine Vision

o   Camera

§  Digital Camera

§  Smart Camera

o   Frame Grabbers, Optics, and Led Lighting

o   Processor and Software

Segmentation by Technology:

·        Product Life Cycle Management (PLM)

·        Manufacturing Execution System (MES)

·        Programmable Logic Controller (PLC)

·        Supervisory Control and Data Acquisition (SCADA)

·        Enterprise Resource Planning (ERP)

·        Distributed Control System (DCS)

·        Human–Machine Interface (HMI)

·        Plant Asset Management (PAM)

Segmentation by Industry:

·        Process Industry

o   Oil and Gas

o   Chemicals

o   Pulp and Paper

o   Pharmaceuticals

o   Metals and Mining

o   Food and Beverages

o   Energy and Power

o   Others

·        Discrete Industry

o   Automotive

o   Aerospace and Defense

o   Semiconductor and Electronics

o   Machine Manufacturing

o   Medical Devices

o   Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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