Global Smart Factory Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx billion over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 10.11% during the forecast period that is 2017-2025. The smart factory refers to the various fully-integrated automation devices or techniques which are adopted for manufacturing purposes. The market in APAC is projected to hold second largest industry share of the global market in 2017 and is estimated to show its continue dominance during the forecast period owing to its technological advancement, new research and development, adoption of automation process and technologies in numerous sectors.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global smart factory market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global smart factory market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
The smart factory market was valued USD 150 in 2018 and is expected to reach USD xx.xx by 2024, at a CAGR of 10.11% during the forecast timespan that is 2019-2024. Smart factory offers centralized control operation allowing accurate monitoring, control and reporting of the various parts working on manufacturing process. With the help of smart factory, by combining the physical and digital technology now it is possible to manage highly complex operations during manufacturing process.
In terms of components the robotics industry is likely to have highest share of the global smart factory market during the forecast period. Smart factory plays an important role in development and production of quality automobile. Furthermore, in the process of globalization the adoption of smart factory related technologies and components is highly expected to be high in oil and gas industry because of increasing need of safety and reliability in the gas and oil industry because of lack of trained workers. Companies working in oil and gas industries are always looking up to new ways to reach rising demands of energy with less cost and to produce efficient products.
Effortless monitoring, reduction of waste and speedy production are some of the major advantages of smart factory offering customers wide range of improved quality, standard and dependable products within less amount of time and cost. The China manufacturing sector is leading country in the production and use of smart factory, followed by US which is second largest in the world.
However, lack of standardization, shortage of skilled workers might lead shorten market growth. Manufacturers are inventing and adding more sophisticated electronics to increase in chemical and assembly process and is following more use of programmable logic control (PLC) units with enhanced software.
The smart factory can be segmented on the basis of technology as Manufacturing Execution system (MES), industrial control system. Product Life Cycle Management (PLM), industrial logistics, supervisory control data and acquisition system and Enterprise Resource Planning (ERP).
An ERP system eliminates repetitive processes, and greatly reduces the need to manually enter the information. The Data Acquisition System (DAS) is the machine which is used to measure electrical and physical phenomenon such as voltage, current, temperature, pressure with a computer. However, Market for industrial 3D painting is expected to witness the highest the CAGR between 2019 to2024.
The market can be categorized on the basis of devices used as articulated robots, industrial robotics, industrial network, and control devices. Control devices can be further classified into switches, relays, drives, and motors. Industrial network can be further sub-segmented into RFID systems, wired network, and wireless network. Owing to its different products for varied purposes, the demand for industrial network is projected to grow over the forecast period. On the basis of application, the industry can be classified into electronics and electrical, automotive, food and beverages, pharmaceuticals, and mining materials.
On the basis of region market for passenger drone has been segmented into North America, Europe, Asia-Pacific and rest of the word. The North America region is to considerably have the largest market share in upcoming forecast period owing to the advanced technology, stable economy and presence of key manufacturers across the country. The U.S region is playing a significant role in global smart factory market as is fulfilled with latest technology and increasing manufacturers across the country. The market in APAC is projected to hold second largest industry share of the global market in 2017 and is estimated to show its continue dominance during the forecast period owing to its technological advancement, new research and development, adoption of automation process and technologies in numerous sectors. The developing economies such as China, Japan, India, South Korea, Australia and other prominent key players will witness significant CAGR growth during the forecast period.
Global Smart Factory Market Size, Share Analysis By Region 2017
Global Smart Factory Market Study Objective
1. To forecast the market size of smart factory market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of smart factory market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have major impact on the growth of smart factory market, such as drivers, restraints, challenges and opportunities.
4. Regional analysis of smart factory market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.
5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.
6. To provide detailed analysis of competitive and strategic developments in the smart factory market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
The main key companies contributing in the global smart factory market are ABB (Switzerland), Honeywell (US), Kontron (Germany), Siemens (Germany), Emerson (US), Mitsubishi electronics (Japan), Rockwell automation (US), Advantech (Taiwan), Mitsubishi Electric Corporation and Etc.
Global Smart Factory Market Study Report Offer You!
The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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