According to Publisher, the Global Smart Factory Market is accounted for $140 billion in 2017 and is expected to reach $378 billion by 2026 growing at a CAGR of 11.7% during the forecast period. Increasing Demand for Industrial Robots, rising Emphasis on Real-Time Data Analysis, Enhanced Visibility & Predictive Maintenance and the advancement of the Internet of Things (IoT) are some of the factors impelling the market growth. However, the risk associated with security of cyber-physical system and requirement of a significant amount of capital investments is curbing the market.
The smart factory is a paradigm shift from traditional automation to a fully allied and flexible system that enables organizations to digitally plan and project the entire lifecycle of products and production facilities. A smart factory can integrate data from system-wide physical, operational and human assets to drive manufacturing, maintenance, and inventory tracking.
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Some of the key players profiled in the Smart Factor Market include Siemens AG, ABB, Schneider Electric, Honeywell International Inc, Atos SE, Cognex Corporation, Emerson Electric Company, Oracle Corporation, Cisco Systems, Inc., FANUC, Yokogawa Electric, General Electric, Omron, IBM, and Wipro Limited.
On the basis of product, Industrial Robots segment holds the major growth during the forecast period due to implementing industrial robotics in smart manufacturing processes can improve productivity, reduce human errors and enhance production volume.
By geography, North America holds the largest market share during the forecast period due to advancements in next-generation technologies in the U.S. & Canada, rising R&D in the field of Internet of Things (IoT) for new & enhanced technologies and growing demand for a better lifestyle.
– Industrial 3D Printing
– Machine Vision
– Industrial Robots
– Communication Technologies
– Control Devices
– Human-Machine Interface (HMI)
– Programmable Logic Controller (PLC)
– Enterprise Resource Planning (ERP)
– Product Life Cycle Management (PLM)
– Plant Asset Management (PAM)
– Distributed Control System (DCS)
– Supervisory Control and Data Acquisition (SCADA)
– Manufacturing Execution System (MES)
End Users Covered:
– Aerospace & Defense
– Oil & Gas
– Metals and Mining
– Food & Beverage
– Chemical & Petrochemical
– Semiconductors and Electronics
– Other End Users
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– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
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