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Smart Factory Market Growth Projection 2020 by Key Companies: Atos SE, Cognex Corporation, Emerson Electric, General Electric, Johnson Controls, Mitsubishi Electric

The automotive industry is expected to emerge as a prominent growth avenue for the smart factory market over the forecast timeframe


Ocean View, DE -- (SBWIRE) -- 05/04/2020 -- The automotive industry is expected to emerge as a prominent growth avenue for the smart factory market over the forecast timeframe. In 2016, multinational automobile company Audi unveiled its Smart Factory 2035 vision in which it envisioned a facility without any assembly lines, instead deploying intelligent, flexible and modern production stations.

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Key Companies: - ABB Ltd., Atos SE, Cisco, Cognex Corporation, Emerson Electric Co., FANUC, General Electric, Honeywell International, Hewlett Packard Enterprise, IBM, Johnson Controls Inc., KUKA, Mitsubishi Electric, National Instruments, Omron, Oracle, PTC Inc., Robert Bosch GmbH, Rockwell Automation, SAP SE, Schneider Electric, Siemens, TE Connectivity, Texas Instruments, Yokogawa Electric Corporation,

The increasing adoption of technology has driven the demand for smart industrial solutions to save operational and labor costs, driving smart factory market. Digitally advanced factories have been manufacturing industrial robots that are replacing human laborers in several operations with the help of evolutionary technologies like Big Data, AI, analytics and IoT. Sensing components like actuators and sensors are significantly advanced and are increasingly being adopted by companies owing to their benefit of integrated computing abilities with low power consumption, which is expected to contribute to smart factory market expansion.

Industrial robots are capable of increasing productivity and eliminating human errors thus gaining popularity over human workers. Robots tend to reduce a large amount of industrial waste owing to their consistent precision in producing high quality products. They also keep the laborers motivated and safe by handling dangerous and critical manufacturing applications.

Europe and North America are increasingly adopting robots due to the rising labor costs and high investment that is required in employee training. Additionally, the robots are designed with several advanced software and sensors that help them work along with the humans effectively and safely, thereby augmenting industrial robot-based smart factory market share.

Distributed control system has the benefit of being simple and flexible in monitoring, reporting and controlling processes and has steadily been gaining popularity in the smart factory market. The DCS, which has features like redundancy and controlling tends to create numerous market development opportunities by enhancing reliability and system availability. Some of the industry players are expected to launch new DCSs for several industry sectors. The utilization of these systems by several industries will propel the growth of smart factory market.

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It has been observed that numerous industries have been adopting automation technologies across APAC, on the grounds of which the region will depict substantial growth in the years to come. The government of China has introduced the "Made in China 2025" initiative which is expected to invest nearly USD 3 billion in the advanced manufacturing sector. The government of India on October,2018 released a draft on National Policy on Electronics (NPE), that claims the electronic manufacturing industry in India to be worth USD 400 billion by 2025. The government initiatives in the region to develop the manufacturing sector will provide number of opportunities for the growth of APAC smart factory market.

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