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

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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

Smart Factory Market, by Software

Smart Factory Market, by Wireless Connectivity

Smart Factory Market by, End-Use Industry

Smart Factory Market by Region

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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

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