In this rapidly changing environment, companies are expanding their scale of operations by increasing investments industrial internet of things (IoT) and innovation. In smart factory market innovation is a key driver. Internet of things (IoT) is considered as a major component with respect to Smart Factory therefore industries adopting Internet of Things has increased the demand for Smart Factory.
The smart factory contributes to numerous advantages over the conventional manufacturing and production methods. It includes Cyber physical systems (CPS) and Flexible production system. The Cyber Physical Systems (CPS) enables to determine the activities, production conditions and communicate wirelessly with other units. The flexible production system enables to respond in real-time conditions and allow in-house production processes to be completely optimized.
Smart Factory Market is growing rapidly over 9% of CAGR and is expected to reach at USD 73 Billion by the end of forecast period.
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- ABB Ltd. (Switzerland),
- Emerson Electric Company (U.S.),
- Siemens AG (Germany),
- 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.)
- Fanuc (Japan)
- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- Semiconductor product designers and fabricators
- Automation product manufacturers
- Technology investors
- Hardware & software manufacturers
- MES (Manufacturing Execution System)
- MOM (Manufacturing Operations Management)
- System Integrators
- Government Organizations
- Research/Consultancy firms
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Market Research Analysis:
Market Research Future Analysis shows that there are many organizations which are lagging but the study indicates huge opportunities for smart factory market in the forecast period. It has been observed government is taking initiatives, providing investments for developments in smart factory. The major benefits of Smart Factory are efficient production, quality and lower power consumptions. These factors would definitely increase the smart factory market.
In recent news, Midea reveals that they have invested 5 Billion yuan in building smart factories in several Chinese cities using approximately 1,500 robots. The vice president also mentioned that their goal is to build more intelligent smart factories.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 100 numbers of pages of the project report “Smart Factory Market – Forecast to 2022”
List of Tables
TABLE 1 Smart Factory Market, By Component
TABLE 2 Smart Factory Market, By Technology
TABLE 3 Smart Factory Market, By End-User
TABLE 4 Smart Factory Market, By Regions
TABLE 5 North America Smart Factory Market, By Component
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