COVID19:global smart factory market is estimated to reach USD 267.1 Billion in 2024
Smart Factory Market: Summary
The global smart factory market is estimated to reach USD 267.1 Billion in 2024 at a CAGR of 8.9%. Increasing adoption of wireless and sensor technologies, growing adoption of industrial robots, and increase complexity in supply chain management is expected to drive the smart factory market during the forecast period. However, high initial capital investment and risk associated with data loss and cyber security is expected to restrain the market during the forecast period. 3D printing technology is expected to become an opportunity for smart factory market.
The smart factory is a high digitized and connected production facility which depends on smart manufacturing. Moreover, it connects with plant to other entities in the digital supply network to enable effective supply chain management. In smart factory, machinery and equipment are able to improve processes through self-optimization and automation. Some key players in smart factory are Siemens AG, Fanuc Corporation, General Electric Company, Mitsubishi Electric Corporation, and Honeywell International Inc.
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Smart Factory Market: Report Synopsis
This market research report offers a comprehensive analysis of key market trends in the global smart factory market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of hardware, the market is segmented into industrial robots, sensors, machine vision systems, and others. By software, the smart factory market is segmented into product life cycle management (PLM), enterprise resource planning (ERP), machine execution systems (MES), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), and Others. On the basis of wireless connectivity, the market is segmented into wireless fidelity (Wi-Fi), WirelessHART, Bluetooth, and Zigbee. By end use industry the market is segmented into oil and gas, chemicals, automotive, electronics and semiconductors, aerospace and defense, and healthcare.
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Smart Factory Market: Report Scope
The report on the smart factory market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features
Specifics
Historical/Estimated/Forecasted Market Size Years
2017–2024
Base Year for Market Calculation
2018
Forecasted Period
2019–2024 (2019 estimated year, forecasted up to 2024)
Measured Units
Value (USD Million)
Segments Included
Hardware, Software, Wireless Connectivity, End Use Industry
Regional Coverage
Asia-Pacific, North America, Europe, Middle East & Africa, South America
Companies Covered
- Siemens AG (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Honeywell International Inc.
- Fanuc Corporation
- Mitsubishi Electric Corporation
- Yokogawa Electric Corporation
- ABB Ltd
- Emerson Electric Co.
- General Electric Company
- Texas Instruments
- Dassault Systemes SE
- Other Key Companies
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Smart Factory Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Smart Factory Market by Hardware
- Industrial robots
- Collaborative Robots
- Articulated Robots
- Cartesian Robots
- Selective Compliance Assembly Robot Arm (SCARA) Robots
- Cylindrical Robots
- Other Robots (Delta, Palletizing, Welding)
- Sensors
- Machine Vision System
- Others (Control Systems)
Smart Factory Market, by Software
- Product Life Cycle Management (PLM)
- Enterprise Resource Planning (ERP)
- Machine Execution Systems (MES)
- Programmable Logic Controller (PLC)
- Supervisory Control and Data Acquisition (SCADA)
- Others (DCS, HMI, PAM)
Smart Factory Market, by Wireless Connectivity
- Wireless Fidelity (Wi-Fi)
- WirelessHART
- Bluetooth
- Zigbee
Smart Factory Market by, End-Use Industry
- Oil and Gas
- Chemicals
- Automotive
- Electronics and Semiconductors
- Aerospace and Defense
- Healthcare
Smart Factory Market by Region
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Taiwan
- Rest of Asia-Pacific
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- The Netherlands
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
1 Introduction
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL SMART FACTORY MARKET BY HARDWARE, Market Size in USD Million (2017–2024)
7 GLOBAL SMART FACTORY MARKET BY SOFTWARE, Market Size in USD Million (2017–2024)
8 GLOBAL SMART FACTORY MARKET BY WIRELESS CONNECTIVITY, Market Size in USD Million (2017–2024)
9 GLOBAL SMART FACTORY MARKET BY END-USE INDUSTRY, Market Size in USD Million (2017–2024)
10 Competitive Landscape
11 Company Profiles
12 Appendix
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.
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