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Smart Factory Market Size - Industry Analysis, Share, Growth, Trends, and Forecast 2019-2027

Press release   •   Oct 03, 2019 11:40 IST

Smart Factory Market

The smart factory incorporates fully integrated automation solutions for industrial operations, including manufacturing facilities. Smart factory encourages waste reduction, effortless monitoring, and enhances production speeds. The advent of the industrial revolution industry 4.0 and the rise in wireless networking has crafted the need for setting up smart factories.

The smart factory market is anticipated to grow in the forecast period owing to driving factors such as the emergence of industry 4.0, coupled with increasing adoption of IoT in the industrial sector. Demand for energy efficiency is further expected to augment the market growth. However, possible risks of cyber-attack is a major restraining factor for the smart factory market during the forecast period. Nonetheless, newer technologies, such as 3D printing and collaborative robots, offer lucrative opportunities for the market in the coming years.

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Leading industry players with information such as company profiles,

ABB Ltd - Atos SE - Cisco Systems, Inc. - Fanuc Corporation - General Electric Company - Honeywell International Inc. - Omron Corporation - Schneider Electric - Siemens AG - Yokogawa Electric Corporation. 

The global smart factory market is segmented on the basis of product type, technology, and industry vertical. Based on product type, the market is segmented as machine vision systems, industrial robots, control devices, sensors, and others. On the basis of the technology, the market is segmented as enterprise resource planning, product lifecycle management, and human machine interface. The market on the basis of the industry vertical is classified as automotive, semiconductors, oil and gas, and others.

The "Global Smart Factory Market Analysis to 2027" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of smart factory market with detailed market segmentation by product type, technology, industry vertical, and geography. The global smart factory market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading smart factory market players and offers key trends and opportunities in the market.

It provides an overview and forecast of the global smart factory market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The smart factory market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting smart factory market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the smart factory market in these regions.

Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from smart factory market are anticipated to lucrative growth opportunities in the future with the rising demand for smart factory in the global market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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