The Smart Factory Market is expected to grow from USD 70.2 billion in 2020 to USD 134.9 billion by 2026 at a CAGR of 11.0% from 2020 to 2026.
Smart Factory is a concept for exhibiting the ideal goal of manufacturing digitization. A Smart Factory is an extremely digitized shop floor which gathers and shares data in real-time through connected machines, gadgets and production systems. Then the data can be utilized by self-optimizing devices or throughout the company to manage issues proactively, optimize production processes and respond to new demands. Big Data Analytics, AI, Cloud Computing and Industrial IoT (Internet of Things) technologies have allowed smart manufacturing techniques to be completely integrated. Increase in usage of high-tech tools and high-tech machinery highlights an integration of manufacturing and technological developments. Moreover, the industrial inclination towards cyber world and every element of value chain is linked to ensure informed manufacturing with no defects and time lags. The above mentioned factors are projected to drive the smart factory market during the forecast period. Increased demand for industrial robots is driving the market growth. On the other hand, a lack of standardization and accessibility, coupled with a shortage of skilled labor, is projected to hinder the smart factory market growth.
The global Smart Factory Market is segregated on the basis of component as Industrial Sensors, Industrial Robots, Industrial 3D Printers and Machine Vision Systems. Based on Solution the global Smart Factory Market is segmented in Manufacturing Execution System (MES), Plant Asset Management (PAM), SCADA, Industrial Safety and Others. Based on Industry Vertical the global Smart Factory Market is segmented in Automotive, Semiconductor & Electronics, Chemicals & Pharmaceuticals, Food & Beverages, Oil & Gas, Aerospace & Defense, Medical Devices and Others.
The global Smart Factory Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Smart Factory Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
ABB Limited, Emerson Electric Co., Fanuc Corporation, General Electric Company, and others are among the major players in the global Smart Factory Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
In April 2021 Siemens Digital Industries Software made an agreement to acquire TimeSeries, a major Independent Software Vendor (ISV) and Mendix partner. The acquisition of TimeSeries would help Siemens' clients and partners get to value with low-code faster.
In October 2020 ABB acquired Codian Robotics, a significant provider of delta robots. This acquisition would help ABB to fuel its engagement in the rising field of delta robots.
The global Smart Factory Market has been segmented as below:
Smart Factory Market, By Component
Industrial Sensors
Industrial Robots
Industrial 3D Printers
Machine Vision Systems
Smart Factory Market, By Solution
Manufacturing Execution System (MES)
Plant Asset Management (PAM)
SCADA
Industrial Safety
Others
Smart Factory Market, By Industry Vertical
Automotive
Semiconductor & Electronics
Chemicals & Pharmaceuticals
Food & Beverages
Oil & Gas
Aerospace & Defense
Medical Devices
Others
Smart Factory Market, By Region
Europe
North America
Asia Pacific
Rest of The World
Smart Factory Market, By Company
Stratasys, Ltd.
Siemens AG
Robert Bosch GmbH
ABB Limited
Emerson Electric Co.
Fanuc Corporation
General Electric Company
Honeywell International
Johnson Control International Plc
Mitsubishi Electric Corporation
Rockwell Automation
Schneider Electric
Yokogawa Electric
The report covers the below scope:
Global Smart Factory Market sizes from 2020 to 2025, along with CAGR for 2020-2025
Market size comparison for 2019 vs 2025, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2025
Global Smart Factory Market trends, covering comprehensive range of consumer trends & manufacturer trends
Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Smart Factory Market
Major market opportunities and challenges in forecast timeframe to be focused
Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
Comprehensive company profiles of the key industry players
The years considered for the study are as follows:
Base year - 2019
Estimated year - 2019
Projected year - 2020
Forecast period - 2021 to 2026
Report Scope:
The global Smart Factory Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Smart Factory Market share. Major industry players with significant revenue share include Stratasys, Ltd., Siemens AG, Robert Bosch GmbH, ABB Limited, Emerson Electric Co., Fanuc Corporation and others.
Why to Buy this Report:
Gain detailed insights on the Smart Factory industry trends
Find complete analysis on the market status
Identify the Smart Factory Market opportunities and growth segments
Analyse competitive dynamics by evaluating business segments & product portfolios
Facilitate strategy planning and industry dynamics to enhance decision making
Target Audience:
The report targeted towards the existing players in the industry is as follows:
Market Manufacturers/Service Providers
Market Wholesale/Traders
Investment and Financial Institutions
Free and Paid Customization based on the requirement
Report Content
Introduction
Key Points
Report Description
Markets Covered
Stakeholders
Research Methodology
Research Scope
Research Methodology
Market Research Process
Research Methodology
Secondary Research
Primary Research
Models for Estimation
Market Size Estimation
Bottom-Up Approach
Top-Down Approach
Executive Summary
Market Overview
Introduction
Drivers
Restraints
Opportunities
Challenges
Smart Factory Market, By Component
Key Points
Industrial Sensors
Industrial Robots
Industrial 3D Printers
Machine Vision Systems
Smart Factory Market, By Solution
Key Points
Manufacturing Execution System (MES)
Plant Asset Management (PAM)
SCADA
Industrial Safety
Others
Smart Factory Market, By Industry Vertical
Key Points
Automotive
Semiconductor & Electronics
Chemicals & Pharmaceuticals
Food & Beverages
Oil & Gas
Aerospace & Defense
Medical Devices
Others
Competitive Landscape
Introduction
Start-up companies- Smart Factory Market
Recent Developments
Mergers & Acquisitions
New Product Developments
Portfolio/Production Capacity Expansions
Joint Ventures, Collaborations, Partnerships & Agreements
Others
Company Profile
Stratasys, Ltd.
Siemens AG
Robert Bosch GmbH
ABB Limited
Emerson Electric Co.
Fanuc Corporation
General Electric Company
Honeywell International
Johnson Control International Plc
Mitsubishi Electric Corporation
Rockwell Automation
Schneider Electric
Yokogawa Electric