Smart Factory Market was valued at US$ 88.75 Bn in 2022 and is expected to reach US$ 182.51 Bn by 2029, at a CAGR of 10.85% during a forecast period.
Smart Factory Market Overview:
The primary goal of this research is to assist the user in understanding the Smart Factory Market in terms of definition, segmentation, market potential, significant trends, and the problems that the Smart Factory industry faces in key regions and nations. The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
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Smart Factory Market Scope:
The market statistics and information were obtained from credible sources such as websites, annual reports of businesses, journals, and others, and were examined and validated by industry professionals.
Smart Factory Market Segmentation:
The discrete industry will increase at the fastest rate during the projection period. The largest end-use application sector in the global smart factory market is predicted to remain dominant: transportation and automotive. Many industries use a variety of sensors and actuators to provide advanced automation solutions, which is expected to fuel demand throughout the forecast period.In order to standardize platforms, 50% of the organizations who updated their ERP core and moved to IoT infrastructure are anticipated to have a 20% rise in consumer interaction over the course of the projected year.
Among process industries, the pharmaceuticals market is anticipated to develop at the greatest CAGR throughout the course of the projected period. Since the production of pharmaceuticals is a complicated process, effective end-to-end monitoring is necessary to maximize operational efficiency. Issues that manufacturers deal with include mounting pressure to cut costs, safety and regulatory requirements, and expanding consumer demand for a wide range of products. By removing the need for FDA approval, technologies like MES, EMI, and HMI assist manufacturers in standardizing their operations and reducing lead times.
Smart Factory Market Size and Forecast, by Technology (2022-2029)
1. Enterprise Resource Planning (ERP)
2. Supervisory control and data acquisition (SCADA)
3. Programmable Automation Controller (PAC)
4. Programmable Logic Controller (PLC)
5. Distributed Control System (DCS)
6. Human Machine Interface (HMI)
Smart Factory Market Size and Forecast, by Field Devices (2022-2029)
1. Industrial Robotics
2. Control Devices
3. Industrial Network
Smart Factory Market Size and Forecast, by Components (2022-2029)
3. Industrial robotics
3. Control devices
3. Sensors and actuators
4. Machine Vision
5. Industrial 3D Printing
Smart Factory Market Size and Forecast, by Solution (2022-2029)
1. SCADA
2. PLC
3. DCS
4. MES
5. PLM
6. ERP
7. HMI
8. PAM
Smart Factory Market Size and Forecast, by Industrial Networks (2022-2029)
1. Process Industries
2. Discrete Industries
Smart Factory Market Size and Forecast, by Market Structure (2022-2029)
1. To Connect
2. To Collect
3. To Analyse
4. To Control
Smart Factory Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Smart Factory Market Key Players: The study discusses the key market players who are engaged in the industry, such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors, and so on. The key players in the Smart Factory market are
1. ABB (ASEA BROWN BOVERI) Group
2. Siemens AG
3. Schneider Electric SE
4. Rockwell Automation Inc.
5. Honeywell International, Inc.
6. General Electric Company
7. Johnson Controls International PLC
8. Yokogawa Electric Corporation
9. Robert Bosch GmbH
10.Oracle Corporation
11.SAP SE
12.IBM Corporation
13.Emerson Electric Company
14.Cisco Systems, Inc.
15.Wipro Limited
16.Omron
17.Fanuc
18.Mitsubishi Electric
19.Toyota
20.Honda
21.Suzuki
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Regional Analysis:
The report focuses on Global Regions and Market Size of Smart Factory, and development forecast 2021-2027, including industries, major players, suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications, which will provide its price and profit status, and marketing status, with 2020 as the base year.
COVID-19 Impact Analysis on Smart Factory Market:
The report discusses the impact of COVID-19: Since the breakout of the COVID-19 virus in December 2019, the disease has spread to practically every country on the planet, prompting the WHO to declare it a public health crisis. The worldwide effects of the coronavirus epidemic are already being noticed, and they will have a considerable influence on the Smart Factory industry in 2021.
Key Questions Answered in the Smart Factory Market Report are:
- What is the function of Smart Factory?
- What is the predicted revenue generation of the Smart Factory market?
- At what growth rate is the Smart Factory market evolving?
- Who are the major market giants operating in the Smart Factory market?
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