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Global Smart Factory Market: By Component: Industrial Sensors, Industrial Robots, Industrial 3D Printing, Machine Vision Systems; By Solution: Manufacturing Execution System (MES), Others; By Industry; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Smart Factory Market Outlook

The global smart factory market attained a value of more than USD 71.4 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 10.59% to reach above USD 130.6 billion by 2027.

 

The Asia Pacific Region is Projected to Hold a Significant Share in the Market Growth

Geographically, the Asia Pacific region is expected to obtain a significant market share over the coming years due to the low labour costs and availability of skilled personnel in countries like India and China. This has led many major businesses from various industries to relocate their manufacturing units to the Asia Pacific. In addition to this, the growing number of automation operations in process and discrete sectors is supporting the market growth in this region.

 

Global Smart Factory Market

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Furthermore, countries like Japan and South Korea are widely known for their technological advancements and are thus pushing the growth of the regional market. Apart from this, the regional growth can be associated with the flourishing manufacturing sector of India with government initiatives, such as ‘Make in India’. Thus, the establishment of smart factories is providing impetus to the market growth.

 

Smart Factory: Market Segmentation

A smart factory is a digitised manufacturing facility that makes use of machinery, connected devices, and production systems to continuously collect and transfer data in real-time through internet connectivity via digital technology like IoT and AI. The data can subsequently be used by self-optimising devices or throughout the firm to deal with problems before they arise.

The market can be broadly classified on the basis of its components into:

  • Industrial Sensors 
    • Level Sensors
    • Temperature Sensors
    • Flow Sensors
    • Position Sensors
    • Pressure Sensors
    • Force Sensors
    • Humidity and Moisture Sensors
    • Image Sensors
    • Gas Sensors
  • Industrial Robots 
    • Traditional Industrial Robots
    • Collaborative Robots
  • Industrial 3D Printing 
  • Machine Vision Systems  
    • Cameras
    • Frame Grabbers, Optics, and Led Lighting
    • Processors and Software

On the basis of solution, the market can be classified as:

  • Manufacturing Execution System (MES) 
  • Supervisory Control and Data Acquisition (SCADA) 
  • Plant Asset Management (PAM) 
  • Industrial Safety

Market can also be categorised on the basis of industry:

  • Process Industry 
  • Discrete Industry  

The EMR report looks into the regional markets of smart factory like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

 

Rising Demand from the Food and Beverage Sector is Bolstering the Market Growth of Smart Factory

The food and beverage industry is one of the most significant end-use industries of smart factory globally.  This can be associated with the rising deployment of cutting-edge technologies, such as 3D food printing and machine vision, for manufacturing processes. A smart factory setting enables the provision of high-quality and economically viable products which require low maintenance and distribution costs. This has been propelling the growth of the market. In addition to this, automation in the food and beverage industry provides design freedom, creative and integrated safety, and modern software tools for regulating machine operations. As a result, food manufacturers are making huge investments to turn their traditional manufacturing facilities into cutting-edge facilities, thereby furthering the overall market for smart factory.

 

Key Industry Players in the Global Smart Factory Market

The report presents a detailed analysis of the following key players in the global smart factory market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • ABB Ltd 
  • Emerson Electric Co .
  • General Electric Company 
  • Siemens AG 
  • Honeywell International Inc.
  • Others

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Solution, Industry, Region
Breakup by Component Industrial Sensors, Industrial Robots, Industrial 3D Printing, Machine Vision Systems
Breakup by Solution  Manufacturing Execution System (MES), Supervisory Control and Data Acquisition (SCADA), Plant Asset Management (PAM), Industrial Safety
Breakup by Industry  Process Industry, Discrete Industry
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered ABB Ltd, Emerson Electric Co., General Electric Company, Siemens AG, Honeywell International Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Smart Factory Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Factory Historical Market (2017-2021) 
    8.3    Global Smart Factory Market Forecast (2022-2027)
    8.4    Global Smart Factory Market by Component
        8.4.1    Industrial Sensors
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Industrial Sensors by Type
                8.4.1.4.1    Level Sensors
                8.4.1.4.2    Temperature Sensors
                8.4.1.4.3    Flow Sensors
                8.4.1.4.4    Position Sensors
                8.4.1.4.5    Pressure Sensors
                8.4.1.4.6    Force Sensors
                8.4.1.4.7    Humidity and Moisture Sensors
                8.4.1.4.8    Image Sensors
                8.4.1.4.9    Gas Sensors
        8.4.2    Industrial Robots
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Industrial Robots by Type
                8.4.2.4.1    Traditional Industrial Robots
                8.4.2.4.2    Collaborative Robots 
        8.4.3    Industrial 3D Printing 
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Machine Vision Systems 
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
            8.4.4.4    Machine Vision Systems by Type
                8.4.4.4.1    Cameras 
                8.4.4.4.2    Frame Grabbers, Optics, and Led Lighting
                8.4.4.4.3    Processors and Software
    8.5    Global Smart Factory Market by Solution 
        8.5.1    Manufacturing Execution System (MES)
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Supervisory Control and Data Acquisition (SCADA)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Plant Asset Management (PAM)
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Industrial Safety
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
    8.6    Global Smart Factory Market by Industry 
        8.6.1    Process Industry 
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Discrete Industry 
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Smart Factory Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    ABB Ltd
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Emerson Electric Co.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3      General Electric Company
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Siemens AG
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Honeywell International Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Smart Factory Market: Key Industry Highlights, 2017 and 2027
2.    Global Smart Factory Historical Market: Breakup by Component (USD Billion), 2017-2021
3.    Global Smart Factory Market Forecast: Breakup by Component (USD Billion), 2022-2027
4.    Global Smart Factory Historical Market: Breakup by Solution (USD Billion), 2017-2021
5.    Global Smart Factory Market Forecast: Breakup by Solution (USD Billion), 2022-2027
6.    Global Smart Factory Historical Market: Breakup by Industry (USD Billion), 2017-2021
7.    Global Smart Factory Market Forecast: Breakup by Industry (USD Billion), 2022-2027
8.    Global Smart Factory Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Smart Factory Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Smart Factory Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Smart Factory Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Smart Factory Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Smart Factory Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Smart Factory Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Smart Factory Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Smart Factory Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Smart Factory Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Smart Factory Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Smart Factory Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Smart Factory Market Structure

Key Questions Answered in the Report

The global smart factory market attained a value of more than USD 71.4 billion in 2021.

The market is projected to grow at a CAGR of 10.59% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach over USD 130.6 billion by 2027.

The market is being driven by the advent of advanced industrial sensor technology, along with the surging demand for wireless technologies.

The market is projected to be defined by the surging demand for smart factory units by the food and beverage industry to ensure hygiene and boost productivity during the forecast period.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different components of smart factory are industrial sensors, industrial robots, industrial 3D printing, and machine vision systems.

The various solutions available in the market are manufacturing execution system (MES), supervisory control and data acquisition (SCADA), plant asset management (PAM), and industrial safety.

The major industries in this market are process industry and discrete industry.

The major players in the industry are ABB Ltd, Emerson Electric Co, General Electric Company, Siemens AG, and Honeywell International Inc., among others.

Analyst Review

The global smart factory market attained a value of more than USD 71.4 billion in 2021, driven by the rising demand for automation across various industry verticals. The market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 10.59%. The market is projected to reach over USD 130.6 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on components, the global smart factory industry can be segmented into industrial sensors, industrial robots, industrial 3D printing, and machine vision systems. On the basis of solution, the industry is divided into manufacturing execution system (MES), supervisory control and data acquisition (SCADA), plant asset management (PAM), industrial safety. The market is segmented on the basis of industries into process industry and discrete industry. The major regional markets for smart factory are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ABB Ltd, Emerson Electric Co, General Electric Company, Siemens AG, and Honeywell International Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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