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Smart Factory Market Report


Company Analysis, History and Future Overview, Global Sales Trends by 2025


Published Date: 2019-10-09   |   Pages: Ongoing   |   Tables: Ongoing   |  Report ID: 8149 |  Industry: Machinery & Equipment  |   Format : pdf word ppt excel



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An advanced factory where cyber-physical systems control the physical processes of the factory is known as a Smart Factory. This system helps in providing analysis and supporting the controls and management processes. Smart Factory deploys a myriad of technologies such as artificial intelligence (AI), machine-to-machine communication (M2M), Big Data, Analytics, and Internet of Things (IoT) to attain advanced level of automation as well as efficiency. The manufacturers are trying to develop the products with advanced flexibility, efficiency, and safety for better customer satisfaction.

Use of additive manufacturing to create final products has emerged as one of the key trends in the Smart Factory market. 3D printing technology has become more capable, affordable, and faster. It is not only used to make prototypes but also to make the final products. Aerospace giants are also exploring the idea of utilizing 3D printing in the manufacturing of production parts.

Market Dynamics

 Greater intelligence, exceptional manufacturing efficacy, and real-time quality and time benefits associated with Smart Factories are the key factors driving the Smart Factory market.

 Emergence of industrial internet of things (IIOT) is a key trend expected to have a positive impact on the Smart Factory market growth.

 Need for smart automation solutions is increasing across the globe, which, in turn, is driving the Smart Factory market.

 Technological innovations in the market are likely to open up new avenues for the Smart Factory market in the near future.

However, presence of intense competition, dearth of skilled labour, lack of standardization, and high costs associated with Smart Factories may hamper the Smart Factory market growth in the coming years.

Participants to Adopt New Product Launches as a Key Strategy

Some of the leading companies operating in the Smart Factory market are ABB Ltd., Siemens AG, Yokogawa Electric Corp., Schnieder Electric, Rockwell Automation Inc., Emerson Electric Company, General Electric Company, Honeywell International, Inc., Robert Bosch GmbH, and Atos SE. Key players are involved in product introductions, strategic alliances, and mergers and acquisitions with an aim to strengthen their market presence across the globe.

For instance, renowned companies, Rockwell Automation Inc. and PTC have combined their respective Smart Factory technologies. This has resulted in integrated information solution that allows customers to raise the overall output, improve system interoperability, enhance plant efficiency, and lessen the operational risk.

Key Points to Remember

Growing demand for Smart Factory from the pharmaceutical, automotive, and food & beverage industries to act as a key driver in the global Smart Factory market

 Participants to come up with ears novel products to withstand the fierce competition in the Smart Factory market

Smart Factory to witness a surge in the demand from the automobile & transportation industry in the near future

North America to grab a handsome share in the global Smart Factory market in the coming years

By Product Type

 Process Manufacturing

 Discrete Manufacturing

 Others

By Application

  Automobile and Transportation

  Food and Beverage

  Electrical and Electronics

  Chemical and Material

  Oil and Gas

 Others

The global Smart Factory market has been segregated on the basis of product type as process manufacturing, discrete manufacturing, and others. According to the researchers, demand for process manufacturing is expected to be greater as compared to other product types. The analysts have projected that Smart Factory is expected to gain traction in the automobile & transportation industry. Growing importance of Smart Factory solutions in the production of quality automobiles is a key factor responsible for the segment growth.

By Region

world_regions

North America will grab a significant share in the Smart Factory market owing to technological innovations and high adoption of automation technologies in various industries. The Smart Factory market is expected to witness a significant growth in Asia Pacific on account of implementation of automation technologies in manufacturing and rising R&D activities. Moreover, industrial policies by the government in China are expected to have a positive impact on the Smart Factory market growth in Asia Pacific. Europe will emerge as a promising region in the near future.

The machinery and equipment sector is always undergoing changes with evolution in technology. Machinery and equipment include a wide range of products for various applications. Players are constantly striving to bring in innovation for efficiency and to remain relevant in the cutthroat competition. QYR Consulting brings to its readers reports ranging from heavy trucks to automated teller machines. These reports have been written after a careful analysis of the growth of the market over decades and by taking into account its trajectory.

The titles below discuss opportunities, threats, strengths, and restraints present in the machinery and equipment sector. Our dedicated team of analysts have compiled key statistics that define the trends so far and highlight the key areas of development. The collection of reports track the potential areas for investments and the upcoming trends, which could be the defining moments for the industry.

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Why QYR Consulting?


We are committed to delivering the best solutions and we offer a 24*7 helpline.


We promise superior quality of authenticated data.


We offer help and advice across varying time zones.


We boast a strong team of experienced analysts.


We have an exhaustive repository of published reports.


Read More

Contact us Directly

USA
 +1 626 428 8800

India
  +91 20 67104444

Beijing
  +86 108 294 5717

For Enquiry : sales@qyrconsulting.com

Request for Tables and Figures



  You must accept our privacy policies before submit your requirement




Why QYR Consulting?


We are committed to delivering the best solutions and we offer a 24*7 helpline.


We promise superior quality of authenticated data.


We offer help and advice across varying time zones.


We boast a strong team of experienced analysts.


We have an exhaustive repository of published reports.


Read More

Contact us Directly

USA
 +1 626 428 8800

India
  +91 20 67104444

Beijing
  +86 108 294 5717

For Enquiry : sales@qyrconsulting.com

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NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.



Smart Factory Market Report