According to the latest report by IMARC Group, titled “Smart Factory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global smart factory market size exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 11% during 2021-2026. A smart factory refers to a highly digitalized and networked facility that operates through cyber-physical systems to move materials effectively. It is integrated with computer codes and pre-programmed software to monitor the material flow and optimize production processes. Smart factories are self-adapting, hyperflexible, and equipped with cognitive and self-healing capabilities. They include various solutions, such as machine vision systems, supervisory control and data acquisition (SCADA), industrial robotics, human-machine interface (HMI) systems, etc. Smart factories are widely utilized for manufacturing, planning, supply chain management, logistics, etc. As a result, they find extensive applications across several industries, including oil and gas, chemical, pharmaceutical, automotive, aerospace, etc.
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Market Trends and Drivers:
The elevating levels of digitization and the increasing requirement for industrial automation are primarily driving the smart factory market. Furthermore, the growing popularity of Manufacturing Execution Systems (MES) and advanced data models for process-specific functioning is also propelling the product demand. In addition to this, the escalating adoption of refurbished industrial robots and radio frequency identification (RFID) systems is further catalyzing the market growth. Moreover, various technological advancements, including the integration of connected devices with cloud computing, artificial intelligence (AI), Internet of Things (IoT), etc., are also acting as significant growth-inducing factors. Besides this, the rising utilization of these solutions for producing sophisticated automotive and medical components is projected to bolster the smart factory market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd
- Dassault Systèmes
- Emerson Electric Co.
- General Electric Company
- Honeywell International Inc.
- Johnson Controls International
- Microsoft Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
Breakup by Field Devices:
- Industrial Sensors
- Industrial Robots
- Industrial Network
- Industrial 3D Printers
- Machine Vision Systems
Breakup by Technology:
- Product Lifecycle Management (PLM)
- Human Machine Interface (HMI)
- Enterprise Resource Planning (ERP)
- Manufacturing Execution Systems (MES)
- Distributed Control Systems (DCS)
- Industrial Control System
Breakup by End Use Industry:
- Food and Beverages
- Oil and Gas
- Automotive and Transportation
- Semiconductor and Electronics
- Aerospace and Defense
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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