Smart Factory Market 2019 Global Trends, Size, Segments, Emerging Technologies and Industry Growth by Forecast to 2023
Smart Factory Market Global Market – Overview
The smart factory market is a technological revolution in the manufacturing sector which can be operated through the digital network. This technological revolution is proficient enough to adapt, adjust and transmit the data at real time which defines the smart factory as more agile, precise, and predictive system characteristics as compared to the existing technology. The increase adoption rate of industrial robotics and rising awareness of cloud-based automation system integrated with Industrial Internet of things (IIoT) are expected to drive the market over the forecast period. On the other hand, high cost of installation industries to modernize the existing technology used in the industries are expected to hinder the growth of the smart factory market over the review period.
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Some of the major players in Global Smart Factory Market include 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, are profiled in MRFR Analysis and are at the forefront of competition in the global Smart Factory market.
Smart Factory Market Global Market- Segmentation
Segmentation 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) and others.
Segmentation by Components: Industrial robotics, Control devices, Sensors & Actuators and Others.
Segmentation by Industrial Networks: RFID System, Wireless Networks, Wired Networks and Others.
Segmentation by End Users: Chemical & Manufacturing, Energy & Utilities, Power, Water & Waste management Transportation Systems and Others.
Segmentation by Region: North America, Europe, Asia Pacific, Rest of the World.
The regional analysis of Smart Factory Market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Asia-pacific region has shown a considerable growth in smart factory due to technological improvements in the automotive manufacturing sector. The study indicates that countries like Japan, China, South Korea and many others have shown substantial progress in industrial robotics leading to an increase in smart factory market. United States, Germany, France and others are also showing rapid progress in the smart factory market.
January 2018, Rockwell Automation evolved new offering from device to business enterprise to resolve the analytical tools. In order to enhance the productivity and operating efficiency rock well automation had evolved the Allen-Bradley ControlLogix, Allen-Bradley CompactLogix 5480 controller, and Allen-Bradley VersaView 5000. With these modules the connected enterprise will be able to reslove the complex analytical hurdles by the management authorities.
January 2018, Covestro selected Emerson Electric solutions to improve the uptime and operational performance. Emerson Electric Corporation has selected by the Covestro, one of the world’s largest polymer companies, to offer Industrial Internet of Things (IIoT) the Software-as-a-Service technologies, for remote monitoring and predictive maintenance and provide aid to the chemical manufacturer to minimize the risk and enhance uptime at nine high-utilization plants.
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Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
By End User segment, manufacturing, metals and mining, oil and gas industries are expected to have a considerable increase in Smart Factory. But its excepted that Smart Factory sector would have a considerable hike in the upcoming years in manufacturing and automotive sector.
By Component segment, industrial robotics would dominate the smart factory market followed by the control devices. Many companies are investing for industrial robots for better manufacturing efficiency.
By Region, MRFR analysis shows that Asia-Pacific region will account for largest market for smart factory in the coming years. This region has very high adoption of smart factory owing to factors innovation and rising popularity of customization. The Asia-Pacific region has the major manufacturing base which results for a higher smart factory market in this region.
For the purpose of this study, the global Smart Factory market has been segmented on the basis of type, technology and end user. The report on Smart Factory contains detailed analysis with market size of each segment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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