Smart Factory Market Synopsis
The Global Smart Factory market size was valued at USD 163.54 Billion in 2023 and is projected to reach USD 295.49 Billion by 2032, growing at a CAGR of 7.65% from 2024 to 2032.
The smart factory is a flexible system that can run complete manufacturing processes autonomously, self-optimize performance across a larger network, and self-adapt to and learns from new situations in real or near-real time.
- The market is expanding at a faster rate as a result of Industry 4.0's expanding implementation and adoption. The market share has increased as a result of rising automation and software-based procedures. Real-time analysis and synchronization have been made available to the worldwide market by smart technologies, helping to cut costs and save time.
- The market grows in direct proportion to technological advancements when they go hand in hand. New technologies including machine learning, big data, cloud computing, and artificial intelligence are expected to accelerate industry expansion.
- Additionally, the Machine-to-Machine (M2M) and Wireless Sensor Networks (WSN) ideas and Big Data in terms of the content outputs generated are all strongly tied to the Internet of Things (IoT). Data created and exchanged between machines (M2M), as well as between machines and people, is included in the Internet of Things (M2P). It is anticipated that these technologies would expand the market.
Smart Factory Market Trend Analysis
Automation in Smart Factories Boosts Productivity and Increases ROI
- Massive amounts of data are produced by every part of the smart factory, and constant analysis of this data reveals flaws with asset performance that may call for some sort of remedial optimization. One of the most obvious advantages of a smart factory is the ability to self-correct, which sets it apart from traditional automation and can result in higher total asset efficiency.
- Among other potential advantages, increased asset efficiency should result in decreased downtime, optimized capacity, and shorter changeover times. The self-optimization inherent to the smart factory can foresee and detect quality defect patterns earlier and assist in pinpointing specific environmental, mechanical, or human sources of subpar quality. This might reduce lead times and scrap rates while raising yield and fill rates. A higher-quality product with fewer flaws and recalls might result from a more optimized quality procedure. Process optimization typically results in more cost-effective processes, including those with predictable inventory needs, effective hiring, and personnel decisions, and decreased process and operations variability.
- An integrated picture of the supplier network with quick, no-latency reactions to sourcing demands could be indicative of a higher-quality process and result in significant cost savings. Additionally, as a better procedure might result in a higher-quality product, it might also result in lower warranty and maintenance expenses.
Potential Scope to Capture Larger Opportunities in Wireless Smart Sensors in Factories
- A wireless sensor network is a wireless network that includes distributed autonomous devices with sensors to keep an eye on the physical or environmental conditions (WSN). WSNs are employed in sectors like water and wastewater treatment, oil and gas, and medicines. Oil and gas facilities are typically found in isolated locations with challenging environmental conditions.
- A SCADA system in an oil and gas facility uses sensors placed in a WSN to monitor, manage, and operate tanks, compressors, generators, and separators. The price of setting up a sensor network and communication system is decreased by using a WSN. Because more gear, such as cables, networking equipment, routers, and network adapters are needed for wired technology than for wireless technology, the price difference between the two is relatively large.
- A WSN is used to measure and detect parameters in plant operations such as pressure, temperature, flow, and level of fluids and gases. Real-time data monitoring and process control are made possible by incorporating a WSN into SCADA and other smart factory components and systems. The application areas of smart factories would therefore expand because of the expanding WSN R&D and active adoption in such facilities. Wireless sensor networks are also well suited for the present automated systems in the sectors embracing smart factory components and solutions due to the regular software updates.
Smart Factory Market Segment Analysis:
Smart Factory Market Segmented based on Type, Deployment, End-User Industry.
By Type, Industrial Sensors segment is expected to dominate the market during the forecast period
- Industrial Sensors are dominating the Smart Factory Market. Smart industrial sensors help manufacturers lower their Replacement Asset Value (RAV) by lowering the costs of unneeded scheduled maintenance, part replacement expenses, and potential downtime for their operations. Manufacturers can switch from scheduled maintenance to predictive maintenance more easily thanks to smart technologies.
- Data can identify patterns, indicating the need for equipment maintenance. This information can be used by intelligent sensors to advise users of possible problems so they can be fixed before they become points of failure. For instance, Sensata Technologies has unveiled the Sensata IQ platform, which makes it simple to install asset health monitoring in manufacturing environments and reduce unscheduled downtime. Therefore, such sensor-based development in the industry is likely to contribute to the growth of the Smart Factory Market.
By Deployment, the Cloud segment held the largest share of 56.2% in 2022
- Cloud segment is expected to dominate the Smart Factory Market. The fact that IoT used in manufacturing and other industries produces a lot of data is one of the main issues. Businesses require a location where they can keep and retrieve that data. They use the cloud to achieve this. Google Cloud Platform, Microsoft Azure, and Amazon Web Services (AWS) are the top three providers of public clouds. With a 38% market share of AWS.
- Cloud computing and Smart Manufacturing are the perfect amalgamations of technology with advanced manufacturing methods to improve productivity in the factory. Manufacturers now have access to new technologies, infrastructure, and communication opportunities thanks to cloud computing, which will help them realize their vision for smart manufacturing. This is particularly significant since Smart Manufacturing links and optimizes the entire value chain, going beyond the confines of the facility.
- Depending on their requirements, each manufacturer will draw a different distinction between on-premises and on-cloud services. Some businesses will decide to move all their IT systems to the cloud, while others may find that pursuing hybrid scenarios is the best course of action.
Smart Factory Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast period
- The Asia Pacific is dominating the Smart Factory Market. The Asia-Pacific area is very diversified with localized features, ranging from low-cost, poor productivity countries to technologically advanced, high-cost industrial countries. China, Japan, South Korea, Taiwan, and Singapore can be categorized as mature manufacturing countries, but India, Thailand, Vietnam, Malaysia, and Indonesia are still regarded as developing manufacturing nations when the following important aspects are considered.
- China, the world's largest manufacturer in terms of output and where manufacturing will make up approximately 38% of the country's GDP in 2020, has put policies in place to capitalize on advanced manufacturing to strengthen its position as a manufacturing giant. The "Made in China 2025" 10-year government plan, which was launched in China, aims to rapidly expand the nation's manufacturing capabilities, which are essential to its fourth industrial revolution. China's efforts to improve its manufacturing skills by 2025 were strengthened as part of a new 5-year plan with the installation of smart factories with huge government investment which makes a prominent market for smart factories.
- Currently, sectors that prioritize high-volume, low-margin production are more likely to implement smart manufacturing. Additionally, it is used in heavily regulated sectors like the food and beverage and pharmaceutical industries, where tracking and traceability are crucial. Robotic inspections, for example, can be used to automate entire value-chain activities and cut down on human error. Smart factories use machine learning and AI to properly discover flaws through automated inspection processes.
Smart Factory Market Top Key Players:
- Rockwell Automation, Inc. (USA)
- Siemens AG (Germany)
- Schneider Electric SE (France)
- ABB Ltd. (Switzerland)
- Honeywell International Inc. (USA)
- Bosch GmbH (, Germany)
- Mitsubishi Electric Corporation (Japan)
- FANUC Corporation (Japan)
- Emerson Electric Co. (USA)
- Yokogawa Electric Corporation (Japan)
- GE Digital (USA)
- SAP SE (Germany)
- Cisco Systems, Inc. (USA)
- Oracle Corporation (USA)
- KUKA Aktiengesellschaft (Germany)
- Stratasys Ltd. (USA)
- Autodesk, Inc. (USA)
- PTC Inc. (USA)
- Dassault Systèmes SE (France)
- Microsoft Corporation (USA)
Key Industry Developments in the Smart Factory Market:
- In January 2023, Siemens Mind Sphere, an industrial IoT platform, announced partnerships with several new technology providers, including SAP, Microsoft, and Amazon Web Services, to expand its capabilities and reach. This move aims to make Mind Sphere more accessible and attractive to a wider range of industrial companies.
- In February 2023, Rockwell Automation unveiled the latest version of its FactoryTalk VantagePoint SCADA system, featuring enhanced security, performance, and scalability for smarter and more connected manufacturing operations.
- In March 2023, ABB introduced ABB Ability Power Inspect, a cloud-based solution that leverages AI and machine learning to provide real-time insights into the health and performance of electrical assets. This helps manufacturers anticipate potential issues and take preventive maintenance actions.
Global Smart Factory Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 163.54 Bn. |
Forecast Period 2024-32 CAGR: |
7.65% |
Market Size in 2032: |
USD 295.49 Bn. |
Segments Covered: |
By Type |
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By Deployment |
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By End User Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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- RESEARCH OBJECTIVES
- RESEARCH METHODOLOGY
- RESEARCH PROCESS
- SCOPE AND COVERAGE
- Market Definition
- Key Questions Answered
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GROWTH OPPORTUNITIES BY SEGMENT
- MARKET LANDSCAPE
- PORTER’S FIVE FORCES ANALYSIS
- Bargaining Power Of Supplier
- Threat Of New Entrants
- Threat Of Substitutes
- Competitive Rivalry
- Bargaining Power Among Buyers
- INDUSTRY VALUE CHAIN ANALYSIS
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- Challenges
- MARKET TREND ANALYSIS
- REGULATORY LANDSCAPE
- PESTLE ANALYSIS
- PRICE TREND ANALYSIS
- PATENT ANALYSIS
- TECHNOLOGY EVALUATION
- MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
- Geopolitical Market Disruptions
- Supply Chain Disruptions
- Instability in Emerging Markets
- ECOSYSTEM
- PORTER’S FIVE FORCES ANALYSIS
- SMART FACTORY MARKET BY TYPE (2017-2032)
- SMART FACTORY MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- INDUSTRIAL SENSORS
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017 – 2032F)
- Historic And Forecasted Market Size in Volume (2017 – 2032F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- INDUSTRIAL ROBOTS
- INDUSTRIAL 3D PRINTERS
- MACHINE VISION SYSTEMS
- SMART FACTORY MARKET BY DEPLOYMENT (2017-2032)
- SMART FACTORY MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- ON CLOUD
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017 – 2032F)
- Historic And Forecasted Market Size in Volume (2017 – 2032F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- IN PREMISES
- SMART FACTORY MARKET BY END USER INDUSTRY (2017-2032)
- SMART FACTORY MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- AEROSPACE & DEFENSE
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2017 – 2032F)
- Historic And Forecasted Market Size in Volume (2017 – 2032F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- SEMICONDUCTOR & ELECTRONICS
- MANUFACTURING
- MEDICAL DEVICES
- OIL & GAS
- CHEMICALS
- COMPANY PROFILES AND COMPETITIVE ANALYSIS
- COMPETITIVE LANDSCAPE
- Competitive Positioning
- SMART FACTORY Market Share By Manufacturer (2022)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- ROCKWELL AUTOMATION, INC. (USA)
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves And Recent Developments
- SWOT Analysis
- SIEMENS AG (GERMANY)
- SCHNEIDER ELECTRIC SE (FRANCE)
- ABB LTD. (SWITZERLAND)
- HONEYWELL INTERNATIONAL INC. (USA)
- BOSCH GMBH (GERMANY)
- MITSUBISHI ELECTRIC CORPORATION (JAPAN)
- FANUC CORPORATION (JAPAN)
- EMERSON ELECTRIC CO. (USA)
- YOKOGAWA ELECTRIC CORPORATION (JAPAN)
- GE DIGITAL (USA)
- SAP SE (GERMANY)
- CISCO SYSTEMS, INC. (USA)
- ORACLE CORPORATION (USA)
- KUKA AKTIENGESELLSCHAFT (GERMANY)
- STRATASYS LTD. (USA)
- AUTODESK, INC. (USA)
- PTC INC. (USA)
- DASSAULT SYSTÈMES SE (FRANCE)
- MICROSOFT CORPORATION (USA)
- COMPETITIVE LANDSCAPE
- GLOBAL SMART FACTORY MARKET BY REGION
- OVERVIEW
- NORTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Type
- Historic And Forecasted Market Size By Deployment
- Historic And Forecasted Market Size By End User Industry
- Historic And Forecasted Market Size By Country
- USA
- Canada
- Mexico
- EASTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest Of Eastern Europe
- WESTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Germany
- United Kingdom
- France
- The Netherlands
- Italy
- Spain
- Rest Of Western Europe
- ASIA PACIFIC
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New-Zealand
- Rest Of APAC
- MIDDLE EAST & AFRICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- SOUTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Brazil
- Argentina
- Rest of South America
- INVESTMENT ANALYSIS
- ANALYST VIEWPOINT AND CONCLUSION
- Recommendations and Concluding Analysis
- Potential Market Strategies
Global Smart Factory Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 163.54 Bn. |
Forecast Period 2024-32 CAGR: |
7.65% |
Market Size in 2032: |
USD 295.49 Bn. |
Segments Covered: |
By Type |
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By Deployment |
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By End User Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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LIST OF TABLES
TABLE 001. EXECUTIVE SUMMARY
TABLE 002. SMART FACTORY MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. SMART FACTORY MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. SMART FACTORY MARKET COMPETITIVE RIVALRY
TABLE 005. SMART FACTORY MARKET THREAT OF NEW ENTRANTS
TABLE 006. SMART FACTORY MARKET THREAT OF SUBSTITUTES
TABLE 007. SMART FACTORY MARKET BY TYPE
TABLE 008. INDUSTRIAL SENSORS MARKET OVERVIEW (2016-2028)
TABLE 009. INDUSTRIAL ROBOTS MARKET OVERVIEW (2016-2028)
TABLE 010. INDUSTRIAL 3D PRINTERS MARKET OVERVIEW (2016-2028)
TABLE 011. MACHINE VISION SYSTEMS MARKET OVERVIEW (2016-2028)
TABLE 012. SMART FACTORY MARKET BY APPLICATION
TABLE 013. OIL & GAS MARKET OVERVIEW (2016-2028)
TABLE 014. CHEMICALS MARKET OVERVIEW (2016-2028)
TABLE 015. PHARMACEUTICALS MARKET OVERVIEW (2016-2028)
TABLE 016. ENERGY & POWER MARKET OVERVIEW (2016-2028)
TABLE 017. AUTOMOTIVE MARKET OVERVIEW (2016-2028)
TABLE 018. AEROSPACE & DEFENSE MARKET OVERVIEW (2016-2028)
TABLE 019. SEMICONDUCTOR & ELECTRONICS MARKET OVERVIEW (2016-2028)
TABLE 020. MACHINE MANUFACTURING MARKET OVERVIEW (2016-2028)
TABLE 021. MEDICAL DEVICES MARKET OVERVIEW (2016-2028)
TABLE 022. NORTH AMERICA SMART FACTORY MARKET, BY TYPE (2016-2028)
TABLE 023. NORTH AMERICA SMART FACTORY MARKET, BY APPLICATION (2016-2028)
TABLE 024. N SMART FACTORY MARKET, BY COUNTRY (2016-2028)
TABLE 025. EUROPE SMART FACTORY MARKET, BY TYPE (2016-2028)
TABLE 026. EUROPE SMART FACTORY MARKET, BY APPLICATION (2016-2028)
TABLE 027. SMART FACTORY MARKET, BY COUNTRY (2016-2028)
TABLE 028. ASIA PACIFIC SMART FACTORY MARKET, BY TYPE (2016-2028)
TABLE 029. ASIA PACIFIC SMART FACTORY MARKET, BY APPLICATION (2016-2028)
TABLE 030. SMART FACTORY MARKET, BY COUNTRY (2016-2028)
TABLE 031. MIDDLE EAST & AFRICA SMART FACTORY MARKET, BY TYPE (2016-2028)
TABLE 032. MIDDLE EAST & AFRICA SMART FACTORY MARKET, BY APPLICATION (2016-2028)
TABLE 033. SMART FACTORY MARKET, BY COUNTRY (2016-2028)
TABLE 034. SOUTH AMERICA SMART FACTORY MARKET, BY TYPE (2016-2028)
TABLE 035. SOUTH AMERICA SMART FACTORY MARKET, BY APPLICATION (2016-2028)
TABLE 036. SMART FACTORY MARKET, BY COUNTRY (2016-2028)
TABLE 037. ABB LTD. (SWITZERLAND): SNAPSHOT
TABLE 038. ABB LTD. (SWITZERLAND): BUSINESS PERFORMANCE
TABLE 039. ABB LTD. (SWITZERLAND): PRODUCT PORTFOLIO
TABLE 040. ABB LTD. (SWITZERLAND): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 040. ENDRESS+HAUSER AG (SWITZERLAND): SNAPSHOT
TABLE 041. ENDRESS+HAUSER AG (SWITZERLAND): BUSINESS PERFORMANCE
TABLE 042. ENDRESS+HAUSER AG (SWITZERLAND): PRODUCT PORTFOLIO
TABLE 043. ENDRESS+HAUSER AG (SWITZERLAND): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 043. EMERSON ELECTRIC CO. (US): SNAPSHOT
TABLE 044. EMERSON ELECTRIC CO. (US): BUSINESS PERFORMANCE
TABLE 045. EMERSON ELECTRIC CO. (US): PRODUCT PORTFOLIO
TABLE 046. EMERSON ELECTRIC CO. (US): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 046. GENERAL ELECTRIC (US): SNAPSHOT
TABLE 047. GENERAL ELECTRIC (US): BUSINESS PERFORMANCE
TABLE 048. GENERAL ELECTRIC (US): PRODUCT PORTFOLIO
TABLE 049. GENERAL ELECTRIC (US): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 049. ROCKWELL AUTOMATION: SNAPSHOT
TABLE 050. ROCKWELL AUTOMATION: BUSINESS PERFORMANCE
TABLE 051. ROCKWELL AUTOMATION: PRODUCT PORTFOLIO
TABLE 052. ROCKWELL AUTOMATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. INC. (US): SNAPSHOT
TABLE 053. INC. (US): BUSINESS PERFORMANCE
TABLE 054. INC. (US): PRODUCT PORTFOLIO
TABLE 055. INC. (US): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. SCHNEIDER ELECTRIC SE (FRANCE): SNAPSHOT
TABLE 056. SCHNEIDER ELECTRIC SE (FRANCE): BUSINESS PERFORMANCE
TABLE 057. SCHNEIDER ELECTRIC SE (FRANCE): PRODUCT PORTFOLIO
TABLE 058. SCHNEIDER ELECTRIC SE (FRANCE): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 058. SIEMENS AG (GERMANY): SNAPSHOT
TABLE 059. SIEMENS AG (GERMANY): BUSINESS PERFORMANCE
TABLE 060. SIEMENS AG (GERMANY): PRODUCT PORTFOLIO
TABLE 061. SIEMENS AG (GERMANY): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 061. MITSUBISHI ELECTRIC CORP. (JAPAN): SNAPSHOT
TABLE 062. MITSUBISHI ELECTRIC CORP. (JAPAN): BUSINESS PERFORMANCE
TABLE 063. MITSUBISHI ELECTRIC CORP. (JAPAN): PRODUCT PORTFOLIO
TABLE 064. MITSUBISHI ELECTRIC CORP. (JAPAN): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 064. HONEYWELL INTERNATIONAL INC. (US): SNAPSHOT
TABLE 065. HONEYWELL INTERNATIONAL INC. (US): BUSINESS PERFORMANCE
TABLE 066. HONEYWELL INTERNATIONAL INC. (US): PRODUCT PORTFOLIO
TABLE 067. HONEYWELL INTERNATIONAL INC. (US): KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 067. AND YOKOGAWA ELECTRIC CORP. (JAPAN): SNAPSHOT
TABLE 068. AND YOKOGAWA ELECTRIC CORP. (JAPAN): BUSINESS PERFORMANCE
TABLE 069. AND YOKOGAWA ELECTRIC CORP. (JAPAN): PRODUCT PORTFOLIO
TABLE 070. AND YOKOGAWA ELECTRIC CORP. (JAPAN): KEY STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. SMART FACTORY MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. SMART FACTORY MARKET OVERVIEW BY TYPE
FIGURE 012. INDUSTRIAL SENSORS MARKET OVERVIEW (2016-2028)
FIGURE 013. INDUSTRIAL ROBOTS MARKET OVERVIEW (2016-2028)
FIGURE 014. INDUSTRIAL 3D PRINTERS MARKET OVERVIEW (2016-2028)
FIGURE 015. MACHINE VISION SYSTEMS MARKET OVERVIEW (2016-2028)
FIGURE 016. SMART FACTORY MARKET OVERVIEW BY APPLICATION
FIGURE 017. OIL & GAS MARKET OVERVIEW (2016-2028)
FIGURE 018. CHEMICALS MARKET OVERVIEW (2016-2028)
FIGURE 019. PHARMACEUTICALS MARKET OVERVIEW (2016-2028)
FIGURE 020. ENERGY & POWER MARKET OVERVIEW (2016-2028)
FIGURE 021. AUTOMOTIVE MARKET OVERVIEW (2016-2028)
FIGURE 022. AEROSPACE & DEFENSE MARKET OVERVIEW (2016-2028)
FIGURE 023. SEMICONDUCTOR & ELECTRONICS MARKET OVERVIEW (2016-2028)
FIGURE 024. MACHINE MANUFACTURING MARKET OVERVIEW (2016-2028)
FIGURE 025. MEDICAL DEVICES MARKET OVERVIEW (2016-2028)
FIGURE 026. NORTH AMERICA SMART FACTORY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 027. EUROPE SMART FACTORY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 028. ASIA PACIFIC SMART FACTORY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 029. MIDDLE EAST & AFRICA SMART FACTORY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 030. SOUTH AMERICA SMART FACTORY MARKET OVERVIEW BY COUNTRY (2016-2028)
Frequently Asked Questions :
The forecast period in the Smart Factory Market research report is 2024-2032.
Rockwell Automation, Inc. (USA), Siemens AG (Germany), Schneider Electric SE (France), ABB Ltd. (Switzerland), Honeywell International Inc. (USA), Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), FANUC Corporation (Japan), Emerson Electric Co. (USA), Yokogawa Electric Corporation (Japan), GE Digital (USA), SAP SE (Germany), Cisco Systems, Inc. (USA), Oracle Corporation (USA), KUKA Aktiengesellschaft (Germany), Stratasys Ltd. (USA), Autodesk, Inc. (USA), PTC Inc. (USA), Dassault Systems SE (France), Microsoft Corporation (USA) and Other Major Players.
The Smart Factory Market is segmented into Type, Deployment, End-User Industry, and region. By Type, the market is categorized into Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems. By Deployment, the market is categorized into On Cloud and In Premises. By End-User Industry, the market is categorized into Aerospace & Defense, Semiconductor & Electronics, Manufacturing, Medical Devices, Oil & Gas, Chemicals, Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
The application of various combinations of contemporary technology to develop a hyperflexible, self-adapting manufacturing capability is known as the "smart factory" concept. Through the efficient connection of various processes, information streams, and stakeholders (frontline employees, planners, etc.), smart factories offer the chance to develop new types of efficiency and flexibility. Initiatives related to the "smart factory" may alternatively be referred to as "digital factories" or "intelligent factories.
The Global Smart Factory market size was valued at USD 163.54 Billion in 2023 and is projected to reach USD 295.49 Billion by 2032, growing at a CAGR of 7.65% from 2024 to 2032.