The latest report by IMARC Group, titled “Smart Factory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global smart factory market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global smart factory market reached a value of US$ 161.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 286.6 Billion by 2027, exhibiting a CAGR of 10.6% during 2022-2027. A smart factory is the assimilation of high-tech machinery with integrated automation solutions for advanced manufacturing facilities. This integration aids in efficiently moving materials across the factory floor during the manufacturing processes involved, thereby minimizing the human labor and enhancing the product standardization. Smart factories use predictive big data analytics for utilizing smart solutions in the cyber-physical systems within their premises for improved manufacturing with zero defects and no-time lags. The major benefits of smart factories include zero-waste production, dependable products, and shorter time-to-market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The market is primarily driven by the rising demand for energy efficiency, resource optimization, and sustainable development in manufacturing processes. The market is facing positive growth opportunities with the extensive adoption of technologies, such as the internet of things (IoT) and artificial intelligence (AI), across numerous industries. In line with this, the advent of industry 4.0 and the increasing penetration of cloud technologies for smart factory-as-a-service are also providing an impetus to the market growth. Some of the other factors creating a positive market outlook include rapid digitization, favorable government initiatives, and extensive research and development (R&D) activities.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd
- Dassault Systèmes
- Emerson Electric Co.
- General Electric Company
- Honeywell International Inc.
- Johnson Controls International
- Microsoft Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
Breakup by Field Devices:
- Industrial Sensors
- Industrial Robots
- Industrial Network
- Industrial 3D Printers
- Machine Vision Systems
Breakup by Technology:
- Product Lifecycle Management (PLM)
- Human Machine Interface (HMI)
- Enterprise Resource Planning (ERP)
- Manufacturing Execution Systems (MES)
- Distributed Control Systems (DCS)
- Industrial Control System
Breakup by End Use Industry:
- Food and Beverages
- Oil and Gas
- Automotive and Transportation
- Semiconductor and Electronics
- Aerospace and Defense
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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