Market Research Future published a research report on “Smart Factory Market Research Report- Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Pune, India -- (SBWIRE) -- 12/12/2017 -- Market Highlights
In this rapidly changing environment, companies are expanding their scale of operations by increasing investments industrial internet of things (IoT) and innovation. In smart factory market innovation is a key driver. Internet of things (IoT) is considered as a major component with respect to Smart Factory therefore industries adopting Internet of Things has increased the demand for Smart Factory.
The smart factory contributes to numerous advantages over the conventional manufacturing and production methods. It includes Cyber physical systems (CPS) and Flexible production system. The Cyber physical systems (CPS) enables to determine the activities, production conditions and communicate wirelessly with other units. The flexible production system enables to respond in real-time conditions and allow in-house production processes to be completely optimized.
Smart Factory Market is growing rapidly over 9% of CAGR and is expected to reach at USD 73 Billion by the end of forecast period.
The prominent players in the Smart Factory Market are - Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Cognex Corporation, Oracle Corporation (U.S.), IBM Corporation (U.S.), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan) among others.
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Smart Factory by Components:
- Industrial robotics (Articulated, Cylindrical, Scara & Cartesian robot)
- Control devices
- Sensors and actuators
Smart Factory by Technology:
- Enterprise resource planning (ERP)
- Supervisory control and data acquisition (SCADA)
- Programmable Automation Controller (PAC)
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Human Machine Interface (HMI)
Smart Factory by End-user:
- Machine manufacturing
- Oil & gas
- Aerospace & defense
- Electrical & electronics
- Automotive & transportation
- Mining & metals
- Food & beverages
- Electric power generation
Market Research Analysis:
Market Research Future Analysis shows that there are many organizations which are lagging but the study indicates huge opportunities for smart factory market in the forecast period. It has been observed government is taking initiatives, providing investments for developments in smart factory. The major benefits of Smart Factory are efficient production, quality and lower power consumptions. These factors would definitely increase the smart factory market.
Regional analysis for Smart Factory market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. The study reveals that Asia-Pacific region would evolve as a leader in smart factory market. The study indicates large investments by Asia-Pacific countries towards smart factory which is responsible for the rapid growth in smart factory market by the forecast period.
In recent news, Midea reveals that they have invested 5 Billion yuan in building smart factories in several Chinese cities using approximately 1,500 robots. The vice president also mentioned that their goal is to build more intelligent smart factories.
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- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- Semiconductor product designers and fabricators
- Automation product manufacturers
- Technology investors
- Hardware & software manufacturers
- MES (Manufacturing Execution System)
- MOM (Manufacturing Operations Management)
- System Integrators
- Government Organizations
- Research/Consultancy firms
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