The global Smart Factory Market will be worth USD 309.67 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of intelligent technologies across all major industries, including food & beverage, petrochemicals, mining, and manufacturing. Increasing demand for energy efficiency and technological advancements of the sensors is expected to drive the smart factory market’s growth. The rising need to eliminate human & machine errors enhanced asset efficiency and production quality has increased the adoption of digitized supply chain management solutions. Assurance of labor wellness, improved operational efficiencies, enhanced efficiency of the manufacturing processes, and reduction in the operational and manufacturing cost are the factors driving the demand for smart farming technologies.
The report gives an extensive evaluation of the concentration of the Smart Factory market in different regions and countries. With a detailed regional analysis of the Smart Factory market, our research analysts attempt to decipher the hidden growth prospects available for players across the different geographies of the world. They accurately estimate market share, CAGR, production, consumption, price, revenue, and other crucial factors that are responsible for the growth of regional markets studied in the report. They also highlight the presence of prominent players in regional markets and the way it makes a difference in the growth of the markets.
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Here are the questions we answer…
What are the future opportunities in store for the vendors operating in the Smart Factory market?
What does the competitive landscape look like?
Which emerging technologies are believed to impact the Smart Factory market performance?
What are the key trends and dynamics?
Which regulations that will impact the industry?
Which segment will offer the most opportunity for growth between 2020 and 2027?
Where will most developments take place in the long term?
Who are the most prominent vendors and how much market share do they occupy?
What are the latest technologies or discoveries influencing the Smart Factory market growth worldwide?
Market Segments
The global Smart Factory market has been categorized based on the product type, application, and region. Our expert analysts undertake a thorough assessment of all of the segments included in the report and analyze them based on their market share, revenue, market growth rate, and other vital factors. The segmentation allows the interested parties to determine sectors in the global Smart Factory market with high growth prospects and understand the growth strategies adopted by leading segments during the forecast period.
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Key Highlights From The Report
In May 2019, ABB and the Vietnamese Ministry of Science and Technology (MoST) exchanged a Letter of Intent (LOI) in Stockholm, Sweden. The LOI was exchanged to accelerate the realization of Smart Factory in Vietnam.
Industrial Robotics held the largest market share of 36.9% in 2019. The increasing adoption of industrial robotics across all the major industries, including manufacturing, petrochemicals, energy, automotive, food & beverages, and mining, is expected to drive the segment’s growth.
Manufacturing Execution System (MES) is forecasted to grow with the fastest CAGR of 11.6% over the forecast period. The growing need to track the business operations and movements & locations of the raw materials with the help of real-time data analysis is expected to drive the growth of the manufacturing execution system (MES).
The discrete industries segment held the largest market share of the Smart Factory in 2019 due to the increasing adoption of industrial robots by the automobile manufacturing industry.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the presence of major market players such as Yokogawa, Mitsubishi electric, and Fanuc in the region.
Key participants include ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, FANUC, Yokogawa Electric, and Emerson Electric, among others.
Component Outlook (Revenue, USD Billion; 2017-2027)
Industrial Robotics (Articulated robots, Cylindrical robots, Cartesian robots, SCARA robots, Collaborative robots)
Industrial 3D printing
Sensors
Control Devices (Relays, switches, motors, and drives)
Industrial network (Wired networks, wireless networks, RFID systems)
Machine Vision (Cameras, Software, and Processor, Frame grabbers)
Solution Outlook (Revenue, USD Billion; 2017-2027)
Programmable Logic Controller (PLC)
Product Life Cycle Management (PLM)
Manufacturing Execution System (MES)
Distributed Control System (DCS)
Plant Asset Management (PAM)
Enterprise Resource Planning (ERP)
Supervisory Control and Data Acquisition (SCADA)
Human-Machine Interface (HMI)
Industry Outlook (Revenue, USD Billion; 2017-2027)
Process Industries (Oil & Gas, Food & Beverage, Power, Chemicals, Pharmaceuticals, Metals & Mining)
Discrete Industries (Semiconductor & Electronics, Aerospace & Defense, Automotive)
Regional Outlook (Revenue: USD Billion; Volume: Million MT; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Smart Factory Market Segmentation & Impact Analysis
Chapter 5. Smart Factory Market By Technology Insights & Trends, Revenue (USD Billion) (Million MT)
Chapter 6. Smart Factory Market By End-Use Verticals Insights & Trends Revenue (USD Billion) (Million MT)
Chapter 7. Smart Factory Market Regional Outlook
Continued…
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