The global smart factory market is estimated to reach USD 267.1 Billion in 2024 at a CAGR of 8.9%, predicts Forencis Research (FSR). 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.
Aurora, CO -- (SBWIRE) -- 01/24/2020 -- Global Smart Factory Market: Summary
The global smart factory market is estimated to reach USD 267.1 Billion in 2024 at a CAGR of 8.9%, predicts Forencis Research (FSR). 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 market are Siemens AG, Fanuc Corporation, General Electric Company, Mitsubishi Electric Corporation, and Honeywell International Inc.
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Global Smart Factory Market: Report Synopsis
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.
1. On the basis of hardware, the smart factory market is segmented into industrial robots, sensors, machine vision systems, and others.
2. 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.
3. On the basis of wireless connectivity, the market is segmented into wireless fidelity (Wi-Fi), WirelessHART, Bluetooth, and Zigbee.
4. By end use industry the market is segmented into oil and gas, chemicals, automotive, electronics and semiconductors, aerospace and defense, and healthcare.
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Global Smart Factory Market: Key Companies Covered
- Siemens AG (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Honeywell International Inc.
- Fanuc Corporation
- Mitsubishi Electric Corporation
- Yokogawa Electric Corporation
- ABB Ltd
- Emerson Electric Co.
- General Electric Company
- Texas Instruments
- Dassault Systemes SE
- Other Key Companies
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Global Smart Factory Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Global Smart Factory Market, by Hardware
- Industrial robots
- Collaborative Robots
- Articulated Robots
- Cartesian Robots
- Selective Compliance Assembly Robot Arm (SCARA) Robots
- Cylindrical Robots
- Other Robots (Delta, Palletizing, Welding)
- Machine Vision System
- Others (Control Systems)
Global Smart Factory Market, by Software
- Product Life Cycle Management (PLM)
- Enterprise Resource Planning (ERP)
- Machine Execution Systems (MES)
- Programmable Logic Controller (PLC)
- Supervisory Control and Data Acquisition (SCADA)
- Others (DCS, HMI, PAM)
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Global Smart Factory Market, by Wireless Connectivity
- Wireless Fidelity (Wi-Fi)
Global Smart Factory Market, by Wireless Connectivity
- Oil and Gas
- Electronics and Semiconductors
- Aerospace and Defense
Global Smart Factory Market, by Region
- North America
- Middle East and Africa
- South America
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Key Questions answered by the report
- What are the major developments impacting the smart factory market and its growth?
- What will be the effects of the developments in the smart factory market on the industry and on the market players in the near and far future?
- What are the evolving types of the smart factory market?
- What are the evolving applications of smart factory market?
- What are the major characteristics that will affect the smart factory market growth during the study period?
- Who are the key players operating in the smart factory market?
- How are the major players leveraging in the existing market conditions?
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- Smart factory Market Providers
- Smart factory Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Smart Factory Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms