The latest report from the IMARC group, titled “Smart Factory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027â, offers a comprehensive industry analysis, which includes insights into the global smart factory market. The report also includes competitor and regional analysis, as well as contemporary market advancements.
The global smart factory market has reached a value of US$161.4 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$286.6 billion by 2027, presenting a 10.6% CAGR during the period 2022-2027. A smart factory refers to a digitized manufacturing facility that uses connected devices, production systems, and machines to continuously collect and share data. The data is then used to optimize production processes, monitor material flow and proactively resolve any issues that may arise. A smart factory also uses advanced technologies such as industrial robotics, human-machine interface (HMI) systems, supervisory control and data acquisition (SCADA), and programmable logic controller (PLC) to improve the efficiency and productivity. These technologies are widely used for supply chain management, manufacturing, planning, product development and logistics. As a result, smart factory solutions are widely adopted in the oil and gas, food and beverage (F&B), chemical, automotive, aerospace, and pharmaceutical sectors.
We regularly monitor the direct effect of COVID-19[feminine] in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Market Trends and Drivers:
Rapid digitalization in various industries and growing need for industrial automation are the major factors driving the global market. Additionally, the shift in focus towards energy conservation and manufacturing efficiency is another major driver of growth. Additionally, the increasing adoption of refurbished industrial robots and radio frequency identification (RFID) systems, coupled with the increasing use of manufacturing execution systems (MES) and advanced data models for operation process-specific, enhance market growth. Additionally, several technological advancements such as the integration of Internet of Things (IoT) connected devices, artificial intelligence (AI), and cloud computing are creating positive market prospects. These technologies also enable electronic and mechanical assembly, automated material handling and product testing. In addition, the advent of the Industrial Internet of Things (IIoT), the growing shift towards sustainable manufacturing, and the increasing use of smart factory solutions for manufacturing complex medical and automotive components are other factors. that drive the market forward.
Explore the full report with table of contents and list of figures: https://bit.ly/3AXL3VC
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
Some of these key players include:
- ABB SA
- Dassault Systems
- Emerson Electric Co.
- General electricity company
- Honeywell International Inc.
- Johnson Controls International
- Microsoft Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- Siemens AG
Breakdown by field devices:
- Industrial sensors
- Industrial robots
- Industrial network
- Industrial 3D printers
- Machine vision systems
Breakdown by technology:
- Product Lifecycle Management (PLM)
- Human Machine Interface (HMI)
- Enterprise Resource Planning (ERP)
- Manufacturing Execution Systems (MES)
- Distributed Control Systems (DCS)
- Industrial control system
Breakdown by end-use industry:
- Food and drinks
- oil and gas
- Automotive and transportation
- Semiconductor and electronics
- Aeronautics and Defense
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Impact of COVID-19 on the market
- Porter’s Five Forces Analysis
- Historical, current and future market trends
- Market drivers and success factors
- SWOT analysis
- Market structure
- Value chain analysis
- Complete mapping of the competitive landscape
Note: If you need specific information that is not currently covered by the report, we can provide it to you as part of the customization.
The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.
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