A smart factory is a platform where machines and devices can improve measures through digitally and are able to perform self-enhancement process. The advantages such as arranging, supply chain logistics, and product development.
New York, NY -- (SBWIRE) -- 01/25/2021 -- Smart Factory Market Drivers
The smart factory market is projected to reach at USD 368.07 Billion by 2027. The increase in adoption of smart systems for reduction of human work, to eliminate mistakes especially in testing conditions. Along with this, the demand and increasing adoption of Industrial Internet of Things (IIoT) and smart factories across several verticals, where mechanical devices are associated with one another through the Internet, the sheer volume of continuous information (Big Data), which is projected to boost market growth during the forecast period.
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Regional Outlook
Regionally, the smart factory market was dominated by North America with a 27.3% market share by 2019. This growth is attributable to the presence of key players in the region along with robust investment in the market. Robust investment in R&D in the field of IoT for advancement in technology are boosting growth of the smart factory market. However, Asia Pacific is estimated to see considerable growth during the forecast period owing to increase in adoption of automation in the region.
Key participants include ABB, Siemens, Emerson Electric, General Electric, FANUC, Honeywell International, Mitsubishi Electric, Robert Bosch, Rockwell Automation, Schneider Electric, Siemens, Yokogawa Electric
For the purpose of this study, Reports and Data have segmented the global Smart Factory Market on the basis of Type, Application, Technology and region:
Type Outlook (Revenue, USD Million; 2016-2026)
Industrial Robots
Sensors
Machine Vision Systems
Industrial 3D Printing
Application Outlook (Revenue, USD Million; 2016-2026)
Automotive
Oil and Gas
Chemical and Petrochemical
Aerospace and Defense
Others
Technology Outlook (Revenue, USD Million; 2016-2026)
Manufacturing Execution System (MES)
Product lifecycle Management (PLM)
Enterprise Resource Planning (ERP)
Programmable Logic Controller (PLC)
Distributed Control System(DCS)
Supervisory Control And Data Acquisition (SCADA)
Pulse Amplitude Modulation (PAM)
Human Machine Interface (HMI)
Regional Outlook (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Latin America
MEA
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Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Smart Factory Market Segmentation & Impact Analysis
4.1. Smart Factory Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing concern for energy efficiency
4.2.2.2. Rising demand for industrial robotics
4.2.3. Market restraints analysis
4.2.3.1. Security concern
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continue…
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