Smart Factory Market 2019
The global smart factory market is likely to snowball at a significant rate in the future. The study also reveals the future projections that are based on the past trends and upcoming motivating and restraining factors likely to influence the market to determine which regions are expected to perform well in the forecast period. A smart factory is a production facility that is greatly digitized, inter-connected, and depends on smart manufacturing. It is thought to be called the factory of the future and is still in the beginning phase as a concept. The smart factory uses various elements of artificial intelligence, analytics, robotics, big data and internet of things (IoT) which gives it an ability to self-correct.
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Major Key Players
Emerson Electric Co., Johnson Controls International PLC, Yokogawa Electric Corporation, Atos SE, Robert Bosch GmbH, Cognex Corporation and Ubisense, Siemens AG, General Electric Company (GE), ABB Ltd, Rockwell Automation, Schneider Electric, Honeywell International Inc., FANUC Corporation, Mitsubishi Electric Corporation, among others are some of the major players in the global smart factory market.
The elevation of the global smart factory market is promoted by the evolution of the Internet of Things (IoT) which directly impacts the productivity of the existing factories. The rising use of enabling technologies in manufacturing has also propelled the evolution of the global smart factory market. The increasing adoption of industrial robots in manufacturing sector driven by cooperative robots, and connected enterprise greatly motivates the positive trajectory of the global smart factory market. Furthermore, the mass production caters to the rising population across the world which is a great booster for the smart factory market. Various factors are restraining the growth of the market as well. The lack of interoperability and standardization in the current factory working scenario serves a major hindrance in the smart factory market. The shortage of trained workers to operate in a highly technical environment also makes the process of transitioning into a smart factory difficult which negatively impacts the growth of the market.
The global smart factory market is segmented based on technology, component and industry. The global smart factory market is segmented based on technology as DCS, PLC, MES, PAM, HMI, ERP, SCADA and PLM. The market is segmented based on components as sensors, machine vision systems, industrial robots and industrial 3D printing. Based on components segment, the industrial robots segment is expected to perform well out of the other segments. The market is segmented based on industry as automotive, food & beverages, aerospace and defense and semiconductor and electronics. Out of the various allied industries, automotive industries is expected to see the most utilization of smart factory market produce such as robots and AI for its production.
Geographically, the global smart factory market is segmented as Asia-Pacific, North America, South America, Middle East & Africa and Europe. Asia Pacific emerged as the largest region which was preferred by various automotive industries owing to the rising manufacturing sector, favorable government policies and rising population size. Europe is likely to stay a saturated market with slightly positive factors in European countries owing to various government regulations over environmental concerns which limit the industrialization.
Table of Contents – Major Key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Market Factor Analysis
7 Global Smart Factory Market, By Component
8 Global Smart Factory Market, By Connectivity
9 Global Smart Factory Market, By Services
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