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Global Smart Factory Market

Press release   •   Jul 19, 2019 11:19 IST

Global Smart Factory Market was valued at US$ 140.11 Bn in 2017 and is expected to reach US$ 293.85 Bn by 2026, at a CAGR of 9.7% during a forecast period.

Global Smart Factory Market

Global Smart Factory Market is driven by the revolution of the Internet of Things (IoT), increasing use of enabling technologies in manufacturing, rise in adoption of industrial robots in manufacturing, and innovations in assembly-line methods.

Increasing use of automation in manufacturing, government support to industrial automation, simple regulatory compliances, increasing complexities in global supply chain are driving the global smart factory market across the globe.

Industrial robotics is expected to be the leading sub-segment in components market during forecast period and is expected to command highest share in components segment in global smart factory market. Smart factory solutions address the growing need of centralizing business data and to track multiple operations with the real-time data analysis.

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Key Players Operating in Global Smart Factory Market:

ABB (ASEA BROWN BOVERI) Group • Siemens AG • Schneider Electric SE • Rockwell Automation Inc. • Honeywell International, Inc. • General Electric Company • Johnson Controls International PLC • Yokogawa Electric Corporation • Robert Bosch GmbH • Oracle Corporation • SAP SE • IBM Corporation • Emerson Electric Company • Cisco Systems, Inc. • Wipro Limited • Omron • Fanuc • Mitsubishi Electric • Toyota • Honda • Suzuki

Discrete industry to witness the highest growth during forecast period. Automotive and transportation are the largest end-use application segment in the global Smart Factory Market and are expected to continue dominance. Various sensors and actuators are used in many industries offering advance automation solutions that are projected to drive the demand over the forecast period. 50% of the companies that have renovated their ERP core and migrated to IoT infrastructure to standardize platform are expected to increase the customer interaction by 20% in forecast period.

The market for the pharmaceuticals industry is expected to grow at the highest CAGR amongst process industries during a forecast period. As pharmaceuticals manufacturing is a complex process, it requires proper end-to-end monitoring to achieve operational efficiency. Manufacturers face problems such as growing cost pressures, regulatory and safety guidelines, and increasing demand for diverse product portfolios. Technologies such as MES, EMI and HMI help manufacturers standardize their workflow and minimize lead times by eliminating the time required for the approval from various bodies such as FDA.

Industrial 3D printing is expected to witness the highest CAGR during forecast period. Owing to increasing adoption of 3D printing technology in various processes and discrete industries, such as automotive, aerospace and defence, food & beverages, semiconductor and electronics.

Digital and Transform ERP Solutions have a Solid Base for Industries 4.0. ERP systems are connected to the Internet of Things (IoT) infrastructure that consists of sensors and actuators, middleware to collect and store data, applications, and analytics to make decisions and trigger action. ERP could fast become the hold-up of digital business.

The Global Smart Factory Market in North America leads adoption with 54% of U.S. manufacturers having current smart factory initiative operational today. The Global Smart Factory Market in Europe Germany (46%), France (44%), the United Kingdom (43%) and Sweden (39%) are the top five nations globally initiatives in Smart Factory Market.

Among all regions, APAC is expected to account for the largest share of the Smart Factory Market. APAC is to hold the highest market share in the Smart Factory Market due to technological innovation and increasing adoption of automation technologies in various industries. This demand is propelling the growth of the Smart Factory Market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Smart Factory Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Smart Factory Market

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Scope of the Report Global Smart Factory Market

Global Smart Factory Market, By Technology:

  • Enterprise resource planning (ERP) • Supervisory control and data acquisition (SCADA) • Programmable Automation Controller (PAC) • Programmable Logic Controller (PLC) • Distributed Control System (DCS) • Human Machine Interface (HMI)
  • Global Smart Factory Market, By Field Devices:

  • Industrial Robotics o Articulated Robot o Cylindrical Robot o Scara Robot o Cartesian Robot • Control Devices o Sensors o Relays & Switches o Motors & Drive • Industrial Network o RFID System  Chipless RFID  Chip-Based RFID o Wireless Network  Chipset  Microprocessor System  Sensors o Wired Network  Ethernet Media Converters  Unmanaged Switches  Managed Switches
  • Global Smart Factory Market, By Components:

  • Industrial robotics • Control devices • Sensors and actuators • Machine Vision • Industrial 3D Printing
  • Global Smart Factory Market, By Solution:

  • SCADA • PLC • DCS • MES • PLM • ERP • HMI • PAM
  • Global Smart Factory Market, By Industrial Networks:

  • Process Industries o Oil & Gas o Power o Food & Beverages o Chemicals o Metals & Mining o Pulp & Paper o Pharmaceuticals o Others • Discrete Industries o Automotive o Machine Manufacturing o Semiconductor & Electronics o Aerospace & Defense o Medical Devices o Others
  • Global Smart Factory Market, By Market Structure:

  • To Connect o Wired and Wireless Networking o Wide Area Networking (WAN) o Local Area Networking (LAN) o Machine-to-Machine Network • To Collect o Sensors o Digital Measurement Devices o Auto Identification Hardware • To Analyse o Data Historian o Reporting o Complex Event Processing o Predictive Algorithm • To Control o Actuators o Programmable Logic Controllers o Smart Robotics o Additive Manufacturing Equipment o SCADA o DCS o Others
  • Global Smart Factory Market, By Region:

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