The global smart factory market is estimated to reach USD 267.1 Billion in 2024 at a CAGR of 8.9%. Increasing adoption of wireless and sensor technologies, growing adoption of industrial robots, and increase complexity in supply chain management is expected to drive the smart factory market during the forecast period. However, high initial capital investment and risk associated with data loss and cyber security is expected to restrain the market during the forecast period. 3D printing technology is expected to become an opportunity for smart factory market.
The smart factory is a high digitized and connected production facility which depends on smart manufacturing. Moreover, it connects with plant to other entities in the digital supply network to enable effective supply chain management. In smart factory, machinery and equipment are able to improve processes through self-optimization and automation. Some key players in smart factory are Siemens AG, Fanuc Corporation, General Electric Company, Mitsubishi Electric Corporation, and Honeywell International Inc.
This market research report offers a comprehensive analysis of key market trends in the global smart factory market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of hardware, the market is segmented into industrial robots, sensors, machine vision systems, and others. By software, the smart factory market is segmented into product life cycle management (PLM), enterprise resource planning (ERP), machine execution systems (MES), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), and Others. On the basis of wireless connectivity, the market is segmented into wireless fidelity (Wi-Fi), WirelessHART, Bluetooth, and Zigbee. By end use industry the market is segmented into oil and gas, chemicals, automotive, electronics and semiconductors, aerospace and defense, and healthcare.
The report on the smart factory market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
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Base Year for Market Calculation |
2018 |
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Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Hardware, Software, Wireless Connectivity, End Use Industry |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa, South America |
For the scope of report, In-depth segmentation is offered by Forencis Research
Smart Factory Market by Hardware
Smart Factory Market, by Software
Smart Factory Market, by Wireless Connectivity
Smart Factory Market by, End-Use Industry
Smart Factory Market by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Increasing adoption of wireless technologies and sensor technologies
4.2.2. Growing adoption of industrial robots
4.2.3. Increasing complexity in supply chain management
4.3 Restraints
4.3.1. High Initial capital investment
4.3.2. Risk associated with data loss and cybersecurity
4.4 Opportunities
4.4.1. 3D printing technology
4.5 Challenges
4.5.1. Less market knowledge in small and medium scale organizations
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
5.3 Impact Analysis
5.3.1 Industrial Internet of Things (IIoT)
5.3.2 Artificial Intelligence (AI)
5.3.3 5G
5.3.4 Big Data
5.3.5 Blockchain
6 GLOBAL SMART FACTORY MARKET BY HARDWARE, Market Size in USD Million (2017—2024)
6.1 Introduction
6.2 Industrial Robots
6.2.1 Collaborative Robots
6.2.2 Articulated Robots
6.2.3 Cartesian Robots
6.2.4 Selective Compliance Assembly Robot Arm (SCARA) Robots
6.2.5 Cylindrical Robots
6.2.6 Other Robots (Delta, Palletizing, Welding)
6.3 Sensors
6.4 Machine Vision Systems
6.5 Others (Control Systems)
7 GLOBAL SMART FACTORY MARKET BY SOFTWARE, Market Size in USD Million (2017—2024)
7.1 Introduction
7.2 Product Life Cycle Management (PLM)
7.3 Enterprise Resource Planning (ERP)
7.4 Machine Execution Systems (MES)
7.5 Programmable Logic Controller (PLC)
7.6 Supervisory Control and Data Acquisition (SCADA)
7.7 Others (DCS, HMI, PAM)
8 GLOBAL SMART FACTORY MARKET BY WIRELESS CONNECTIVITY, Market Size in USD Million (2017—2024)
8.1 Introduction
8.2 Wireless Fidelity (Wi-Fi)
8.3 WirelessHART
8.4 Bluetooth
8.5 Zigbee
9 GLOBAL SMART FACTORY MARKET BY END-USE INDUSTRY, Market Size in USD Million (2017—2024)
9.1 Introduction
9.2 Oil and Gas
9.3 Chemicals
9.4 Automotive
9.5 Electronics and Semiconductors
9.6 Aerospace and Defense
9.7 Healthcare
10 GLOBAL SMART FACTORY MARKET BY REGION, Market Size in USD Million (2017—2024)
10.1 North America
10.1.1 US
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 UK
10.2.5 Spain
10.2.6 The Netherlands
10.2.7 Rest of Europe
10.3 Asia-Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 South Korea
10.3.5 Taiwan
10.3.6 Rest of Asia-Pacific
10.4 Middle East
10.4.1 Saudi Arabia
10.4.2 UAE
10.4.3 Rest of Middle East
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.1 Introduction
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 Siemens AG
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Honeywell International Inc.
12.3 Fanuc Corporation
12.4 Mitsubishi Electric Corporation
12.5 Yokogawa Electric Corporation
12.6 ABB Ltd.
12.7 Emerson Electric Co.
12.8 General Electric Company
12.9 Texas Instruments
12.10 Dassault Systemes SE
12.11 Other Key Companies
13 APPENDIX
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain