Smart Factory Market by Applications (Automotive, Electrical and Electronics) Worth $67 Billion by 2020 - New Report by MarketsandMarkets

[405 Pages Report] Application areas of smart factory include automotive, electrical & electronics, materials & mining, food & beverages, pharmaceuticals, and others.


Dallas, TX -- (SBWIRE) -- 01/26/2015 -- Smarter manufacturing or Smart Factory is the advanced factory system that creates cyber-physical systems where materials can be moved efficiently across the factory floor. This would provide significant real-time quality, time, resource, and cost advantages in comparison with the traditional production systems. Sensing components such as actuators and sensors within the industrial set-up are expected to become "smart" as they are, increasingly, becoming self-sufficient with integrated computing abilities and low power consumption.

This advanced system has integrated computing codes that provides automation solution. Smart Factory provides data models and factory- specific & MES templates for rapid use. The use of smart factory boosts the quality & productivity and cuts down the operational cost as compared to traditional production systems. The global smart factory market is expected to reach nearly $67 Billion by 2020, growing at a CAGR of 6% from 2014 to 2020.

Browse 71 market data Tables, 71 Figures spread through 160 Pages and in-depth TOC on "Smart Factory Market - Global Forecast to 2020"

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In the age of digital world, the smart manufacturing or smart factory is a bridge between the physical and digital world. The new age of industrial revolution is moving towards the cyber world in which every part of the value chain will be connected with in each to ensure informed manufacturing with zero-defect and no time lags. The smart factory represents the absolute pinnacle of technological and manufacturing development, a perfect integration of high-tech tools and high-tech machinery.

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The report's detailed segmentation by technology, applications, and geography covers all existing and emerging technologies in the smart factory market. This market is segmented into technology as PLM, MES, and industrial automation. The report also covers major application areas of Smart Factory Market namely Automotive, Electrical & Electronics, Materials & Mining, Food & Beverages, Pharmaceuticals, and Others with qualitative as well as quantitative industry insights.

One of the objectives of the report was to analyze the market trends for each of the Smart Factory Market segments and their respective growth rates. Apart from the market segmentation, the report also covers in depth analyses such as Porter's five force analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, and opportunities for the smart factory market.
The market size for the Smart Factory Market is included in the report in four geographic splits, namely- Americas, Europe, Asia-Pacific, and Rest of the World (RoW). APAC is estimated to account for a major share in the smart factory market, which is expected to be followed by Europe and Americas.

Some of the major industry players in the Smart Factory Market are Siemens AG (Germany), GE Company (U.S.), Robert Bosch GmbH, (Germany), ABB Ltd. (Switzerland), and Rockwell Automation, Inc. (U.S.) among others.

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