Smart Factory Market

Smart Factory Market by Technology (Data Acquisition System, Enterprise Resource Planning, Industrial Control System, Industrial Logistics, Manufacturing Execution System, Product Life Cycle Management, and Supervisory Control), Field Devices (Articulated Robots, Control Devices, Industrial Network, and Industrial Robotics), Applications (Automotive, Electronics & Electrical, Food & Beverages, Mining Materials, and Pharmaceuticals), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CM-499
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 1
  • No. Of Pages: 130
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The global smart factory market is projected to expand at a significant CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the development of innovative industrial-based technology and wide adoption of intelligent devices across several industries such as manufacturing, petrochemicals, and mining.

Smart Factory Market Key Takeaways

A smart factory refers to a type of industry that adopts or uses a variety of digital solutions to make production effective and optimize performance of its business operation. Several high-tech machinery and equipment are adopted in these industries by using smart electronic devices to facilitate data collection and sharing digitally. Adopting these types of internet-enabled devices help a business to boost its entire manufacturing process as the devices assist to offer intelligent inputs to maximize operations.

Various technological advancement are helping in developing advanced sensing components including sensor and actuators for the use in the industrial setup, which offer certain advantages such as growing self-sufficiency with less power consumption as well as incorporated computing abilities. Such innovative technology provide a range of integrated computing and automation solutions that can offer effective operations along with reducing operational costs. Surge in technological expansion in intelligent electronic sensing, communication, and control, the factory automation helps to improve overall development of the business operation, which results in offering higher efficiency and supplying high-end products to the customers.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing focus on low-energy consumption besides manufacturing efficiency of a business enterprise is expected to boost the market growth during the forecast period.
  • Factors such as real time quality, easy handling of data sharing, and effective operation performance are key factors projected to expand the market growth.
  • Rising access to Internet of Things (IoT) and wide adoption of innovative technology in manufacturing units are expected to push the market expansion.
  • High software system costs, sensitivity of cyber-physical system security threats, lack of standardization and interoperability along with shortage of skilled workers are key challenges anticipated to hinder the market growth during the forecast period.
  • Increasing adoption of enhanced network system including the use of programmable logic control (PLC) units and developed software, coupled with the increasing use of refurbished robots and industrial robots are projected to offer numerous opportunities for the expansion of market.

Scope of the Report

The report on the global smart factory market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Factory Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Technology (Data Acquisition System, Enterprise Resource Planning (ERP), Industrial Control System, Industrial Logistics, Manufacturing Execution System (MES), Product Life Cycle Management (PLM), and Supervisory Control), Field Devices (Articulated Robots, Control Devices, Industrial Network, and Industrial Robotics), and Applications (Automotive, Electronics & Electrical, Food & Beverages, Mining Materials, and Pharmaceuticals)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ABB Ltd., Apriso Corporation, CMC Associates, General Electric Co., Invensys PLC, Johnson Controls Inc., Microsoft, Mitsubishi Electric Corporation, Rockwell Automation, Siemens AG, System Insights Inc., and Ubisense Group PLC


Global Smart Factory Market Segment Insights

Enterprise resource planning (ERP) segment is expected to register a high revenue share
Based on technology, the market is divided into data acquisition system, enterprise resource planning (ERP), industrial control system, industrial logistics, manufacturing execution system (MES), product life cycle management (PLM), and supervisory control. The ERP segment is expected to register a high revenue share in the coming years owing to the high use of software application for proper coordination of the products processes and its relationships with other functions, activities, or information flow.

Smart Factory Market By Technology

Industrial network segment is projected to expand at a significant growth rate
On the basis of field devices, the global smart factory market is segmented into articulated robots, control devices, industrial network, and industrial robotics. The industrial network segment is projected to expand at a significant growth rate during the analysis years owing to its wide adoption of various devices for industrial network applications. On the other hand, the control devices segment is anticipated to constitute a large market share in the coming year owing to extensive use of various technology for production and process control.

Automotive segment is expected to represent a key market share
Based on applications, the market is classified into automotive, electronics & electrical, food & beverages, mining materials, and pharmaceuticals. The automotive segment is expected to represent a key market share in the coming years owing to wide adoption of automatic devices in the industry. Rising development of electric vehicles and deployment of industrial robotics for assembly and manufacturing of automobiles present key drivers for the segment growth.

North America is anticipated to dominate the market
In terms of regions, the global smart factory market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period owing to the early adoption of digital solutions across industries and growing adoption of new smart technology especially in the automotive and healthcare sectors. However, the market in Asia Pacific is projected to expand at a significant CAGR in the coming years due to the rapid development of several industries impacted by urbanization.

 Smart Factory Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Factory Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Smart Factory Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Smart Factory Market - Supply Chain
  4.5. Global Smart Factory Market Forecast
     4.5.1. Smart Factory Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Smart Factory Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Smart Factory Market Absolute $ Opportunity
5. Global Smart Factory Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Smart Factory Market Size and Volume Forecast by Applications
     5.3.1. Automotive
     5.3.2. Electronics & Electrical
     5.3.3. Food & Beverages
     5.3.4. Mining Materials
     5.3.5. Pharmaceuticals&
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Smart Factory Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Smart Factory Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Smart Factory Demand Share Forecast, 2019-2026
7. North America Smart Factory Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Smart Factory Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Smart Factory Market Size and Volume Forecast by Applications
     7.4.1. Automotive
     7.4.2. Electronics & Electrical
     7.4.3. Food & Beverages
     7.4.4. Mining Materials
     7.4.5. Pharmaceuticals&
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Smart Factory Demand Share Forecast, 2019-2026
8. Latin America Smart Factory Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Smart Factory Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Smart Factory Market Size and Volume Forecast by Applications
     8.4.1. Automotive
     8.4.2. Electronics & Electrical
     8.4.3. Food & Beverages
     8.4.4. Mining Materials
     8.4.5. Pharmaceuticals&
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Smart Factory Demand Share Forecast, 2019-2026
9. Europe Smart Factory Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Smart Factory Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Smart Factory Market Size and Volume Forecast by Applications
     9.4.1. Automotive
     9.4.2. Electronics & Electrical
     9.4.3. Food & Beverages
     9.4.4. Mining Materials
     9.4.5. Pharmaceuticals&
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Smart Factory Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Factory Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Smart Factory Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Smart Factory Market Size and Volume Forecast by Applications
     10.4.1. Automotive
     10.4.2. Electronics & Electrical
     10.4.3. Food & Beverages
     10.4.4. Mining Materials
     10.4.5. Pharmaceuticals&
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Smart Factory Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Factory Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Smart Factory Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Smart Factory Market Size and Volume Forecast by Applications
     11.4.1. Automotive
     11.4.2. Electronics & Electrical
     11.4.3. Food & Beverages
     11.4.4. Mining Materials
     11.4.5. Pharmaceuticals&
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Smart Factory Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Smart Factory Market: Market Share Analysis
  12.2. Smart Factory Distributors and Customers
  12.3. Smart Factory Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ABB Ltd.
     12.4.2. Apriso Corporation
     12.4.3. CMC Associates
     12.4.4. General Electric Co.
     12.4.5. Invensys PLC
     12.4.6.
Segments Covered in the Report
The global smart factory market has been segmented based on

Technology
  • Data Acquisition System
  • Enterprise Resource Planning (ERP)
  • Industrial Control System
  • Industrial Logistics
  • Manufacturing Execution System (MES)
  • Product Life Cycle Management (PLM)
  • Supervisory Control
Field Devices
  • Articulated Robots
  • Control Devices
  • Industrial Network
  • Industrial Robotics
Applications
  • Automotive
  • Electronics & Electrical
  • Food & Beverages
  • Mining Materials
  • Pharmaceuticals
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • ABB Ltd.
  • Apriso Corporation
  • CMC Associates
  • General Electric Co.
  • Invensys PLC
  • Johnson Controls Inc.
  • Microsoft
  • Mitsubishi Electric Corporation
  • Rockwell Automation
  • Siemens AG
  • System Insights Inc.
  • Ubisense Group PLC

Some major participants competing in the global smart factory market include ABB Ltd., Apriso Corporation, CMC Associates, General Electric Co., Invensys PLC, Johnson Controls Inc., Microsoft, Mitsubishi Electric Corporation, Rockwell Automation, Siemens AG, System Insights Inc., and Ubisense Group PLC.

These leading market players are using strategies including mergers, acquisition, partnerships, new launches, collaborations, and product development to build their strong position in the market. For instance, in May 2020, Plex published a report ‘Plex’s 5th Annual State of Manufacturing Technology’, stating that 3D printing is one of the top emerging technologies for smart manufacturing. The company announced to improve its technology for faster production of custom and finished products through 3D printing.

 Smart Factory Market By Key Players

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