Global Smart Factory Market, By Component (Software, Hardware, Service), Connectivity (Wired Connectivity, Wireless Connectivity), Industry Vertical (Electronics and Semiconductor, Aerospace and Defense, Automotive, Oil and Gas, Chemicals, Healthcare and Pharmaceuticals and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The smart factory market is expected to witness market growth at a rate of 14.88% in the forecast period of 2021 to 2028. Data Bridge Market Research report on smart factory market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
A smart factory displays the manufacturing and technological advancement, perfect assimilation of high-tech machinery, and high-tech devices. It is the developed factory system, which forms cyber-physical systems permitting efficient movement of materials across the factory floor. It provides real-time quality and time advantages.
Major factors anticipated to boost the growth of the smart factory market are the rising attention on the energy absorption, manufacturing effectiveness, and the growing practice for a developed base for the manufacturing. Moreover, the industry focuses on the cyber world in which every element of the value chain would be connected to assure informed manufacturing with no-time lags and zero defects are the factors further expected to positively influence the growth of the smart factory market in the forecast period. Furthermore, the increasing need for industrial robots, essential of energy effectiveness, resource optimization, and the expense reduction, the growing emphasis on the real-time data analysis, improvised visibility, and predictive sustenance are estimated to propel the growth of the smart factory market in the forecast period. However, the risk coupled with the security of cyber-physical system and the need for a considerable amount of capital funds are projected to likely hinder the growth of the smart factory market. Also, the absence of standardization and interoperability associated with a dearth of skilled workers is anticipated to most likely hamper the growth of the smart factory market. Advantageous opportunities for collaborative robots and the continuing developments in the 3D printing technology will create lucrative opportunities in the growth of the smart factory market in the forecast period. However, interoperability between information technology (IT) and operational technology (OT) may act as one of the biggest challenges for the growth of the smart factory market in the forecast period.
This smart factory market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on smart factory market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Smart Factory Market Scope and Market Size
The smart factory market is segmented on the basis of component, connectivity and industry vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the component, the smart factory market is segmented into software, hardware, service. Service is further sub segmented into managed services and professional services. Hardware is further segmented into sensors, industrial robots, machine vision. Software is further segmented into HMI, product life cycle management (PLM), supervisory control and data acquisition (SCADA), distributed control system (DCS)
- Based on the connectivity, the smart factory market is segmented into wired connectivity, wireless connectivity.
- Based on the industry vertical, the smart factory market is segmented into electronics and semiconductor, aerospace and defense, automotive, oil and gas, chemicals, healthcare and pharmaceuticals and others.
Smart Factory Market Country Level Analysis
The smart factory market is analysed and market size, volume information is provided by country, component, connectivity and industry vertical as referenced above.
The countries covered in the smart factory market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the smart factory market because of the existence of the multinational corporations funding in the research and development for industrial technologies, industrial Internet of Things (IoT) and as well as the cloud technology are the factors that will further boost the growth of the smart factory market in the region. Asia Pacific is anticipated to witness significant amount of growth in the smart factory market because of the strict government administrations and the advancing of the industrial sector are the factors that are expected to further propel the growth of the smart factory market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Factory Market Share Analysis
The smart factory market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart factory market.
The major players covered in the smart factory market report are Siemens, GENERAL ELECTRIC, ABB, Rockwell Automation, Inc., Schneider Electric, Honeywell International Inc., FANUC CORPORATION, Mitsubishi Electric Corporation, Emerson Electric Co., Yokogawa India Ltd., Bosch Limited, Stratasys Ltd., TE Connectivity Ltd, Texas Instruments Incorporated., KUKA AG, SAP ERP, HP Development Company, L.P., OMRON Corporation, Dassault Systèmes.; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Smart Factory Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.