Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), End-User Industry, and Region - Global Forecast to 2022
Northbrook, IL -- (SBWIRE) -- 01/02/2018 -- An industrial robot is a disruptive technology which is expected to bring a revolution in the manufacturing processes. Implementing industrial robotics in the smart manufacturing processes can improve productivity, reduce the chances of human errors, and increase the production volume. With the advancements in the automotive manufacturing techniques, manufacturers focus more on enhancing their productivity by employing modern methodologies.
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The market for industrial robots is projected to account for the highest share of the global smart factory market during the forecast period. Implementing industrial robotics in the smart manufacturing processes can improve productivity, reduce the chances of human errors, and increase the production volume. However, the market for industrial 3D printing is expected to witness the highest CAGR between 2017 and 2022, owing to increasing adoption of 3D printing technology in the various process as well as discrete industries such as automotive, aerospace and defense, food and beverages, and semiconductor and electronics.
"North America projected to hold the second-largest share of the smart factory market, during the forecast period"
The North American region is a key market as it is home to some of the largest multinational corporations operating in this market, including a majority of the leading players. The increased R&D in the field of IoT for new and improved technologies is the crucial factor driving the market in North America. In addition, the rise in demand for advanced manufacturing solutions is expected to drive the growth of the smart factory market in North America. However, APAC is projected to be the largest smart factory market during the forecast period, owing to increase in investments in the development of manufacturing sectors and favorable government regulations.
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The major players involved in the smart factory market are ABB Ltd.(Switzerland), Atos SE (France), Emerson Electric Co. (U.S.), FANUC Corporation (Japan), General Electric Co. (U.S.), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).
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