Absolute Markets Insights added recently released new research report on Smart Factory Market 2022 by Top Manufacturers, Regions, Type and Application, Forecast provides updates and information related to industry coverage, current market competitive status, and market outlook. Smart Factory market report is a particular investigation of the business which clarifies what the market definition, arrangements, applications, commitment, and worldwide industry patterns are. This market research report serves to be an exceptionally huge segment of business system. Excellent practice models and method of research utilized while generating this industry report reveals the best opportunities to thrive in the market. With the market data of this report, emerging trends along with major drivers, challenges and opportunities in the market for Smart Factory industry can be identified and analysed. Smart Factory market report presents market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios.

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In terms of revenue, global smart factory market was valued at US$ 123.80 Bn in 2019 and is anticipated to grow at a CAGR of 13.3% over the forecast period (2020-2028). Some of the players operating in the smart factory market are ABB, Atos SE, CISCO, Cognex Corporation, Emerson Electric Co., FANUC America Corporation, Hewlett Packard Enterprise Development LP., Honeywell, IBM Corp., Johnson Controls, Mitsubishi Electric Automation, Inc., Omron Corporation, Oracle, Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Schneider Electric, Siemens Digital Industries Software, The General Electric Company, Yokogawa India Ltd, and other market participants.

Smart factory refers to a highly digitalized and connected production unit powered with advanced and automated machinery, production equipment and solutions. These products and solutions are created with the integration of various technologies such as artificial intelligence, big data, and industrial internet of things (IIoT) amongst others in order to build a fully connected and collaborative manufacturing unit. Rise in agility, predictability and efficiency in production is driving the adoption of smart factory solutions across the globe. Furthermore, the commercialization of 5G is expected to accelerate investment into smart factories by manufacturers over the forecast period. Increasing demand for stronger bandwidth for supporting high device connectivity in order to streamline data traffic and connect greater number of devices and sensors in the production system is anticipated to support the market growth. The connectivity of various network through 5G will also ensure more security and reliability in the production process. Thus, the increasing efficiency of smart factory solutions owing to 5G connectivity is expected to contribute to the growth of the smart factory market across the globe over the forecast period.

Global Smart Factory Market:

By Offering

  • Hardware
    • Controller
    • Computerized Numerical Controllers (CNCs)
    • Programmable Controllers
    • Motion Controllers
    • Others
    • Industrial Human-Machine Interface (HMI)
    • Industrial and Collaborative Robots
    • Power Monitoring Products
    • Others
  • Software
  • Services
    • Design & Development Services
    • Implementation Services
    • Training & Consulting Services
    • Others

By Technology 

    • Big Data & Analytics
    • Edge/Cloud Computing
    • Artificial Intelligence (AI) & Machine Learning (ML)
    • Industrial Internet of Things (IIoT)
    • Digital Twin
    • Robotics
    • Others

By Application

    • Industrial Security
    • Energy Management
    • Predictive Maintenance
    • Operations Management
    • Workforce Management
    • Others

By Organization Size

    • Large Organizations
    • Small and Medium organizations

By End Use Industry

    • Discrete Manufacturing
      • Automotive
      • Consumer Products
      • Aerospace and Defence
      • Medical Devices
      • Pulp and Paper
      • Metal
      • Others
    • Process Industries
      • Food and Beverage
      • Oil and Gas
      • Pharmaceutical
      • Chemical
      • Energy, Power and Utilities
      • Others

By Region

    • North America
    • Europe
    • Asia Pacific
    • Middle East and Africa
    • Latin America

 

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