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Global Smart Factory Market Size, Share, Trends, Forecast: By Component: Industrial Sensors, Industrial Robots, Industrial 3D Printing, Machine Vision Systems; By Solution: Manufacturing Execution System (MES), Others; By Industry; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2024-2032
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 Opportunities and Challenges in the Market
8 Global Smart Factory Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Factory Historical Market (2018-2023)
8.3 Global Smart Factory Market Forecast (2024-2032)
8.4 Global Smart Factory Market by Component
8.4.1 Industrial Sensors
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Industrial Sensors by Type
8.4.1.3.1 Level Sensors
8.4.1.3.2 Temperature Sensors
8.4.1.3.3 Flow Sensors
8.4.1.3.4 Position Sensors
8.4.1.3.5 Pressure Sensors
8.4.1.3.6 Force Sensors
8.4.1.3.7 Humidity and Moisture Sensors
8.4.1.3.8 Image Sensors
8.4.1.3.9 Gas Sensors
8.4.2 Industrial Robots
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Industrial Robots by Type
8.4.2.3.1 Traditional Industrial Robots
8.4.2.3.2 Collaborative Robots
8.4.3 Industrial 3D Printing
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Machine Vision Systems
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.4.3 Machine Vision Systems by Type
8.4.4.3.1 Cameras
8.4.4.3.2 Frame Grabbers, Optics, and Led Lighting
8.4.4.3.3 Processors and Software
8.5 Global Smart Factory Market by Solution
8.5.1 Manufacturing Execution System (MES)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Supervisory Control and Data Acquisition (SCADA)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Plant Asset Management (PAM)
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Industrial Safety
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Smart Factory Market by Industry
8.6.1 Process Industry
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Discrete Industry
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Smart Factory Market by Region
8.7.1 North America
8.7.2 Europe
8.7.3 Asia Pacific
8.7.4 Latin America
8.7.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.3.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.4.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.5.2 Forecast Trend (2024-2032)
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 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Factory Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Factory Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Smart Factory Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Smart Factory Historical Market: Breakup by Solution (USD Billion), 2018-2023
5. Global Smart Factory Market Forecast: Breakup by Solution (USD Billion), 2024-2032
6. Global Smart Factory Historical Market: Breakup by Industry (USD Billion), 2018-2023
7. Global Smart Factory Market Forecast: Breakup by Industry (USD Billion), 2024-2032
8. Global Smart Factory Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Smart Factory Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Smart Factory Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Smart Factory Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Smart Factory Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Smart Factory Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Smart Factory Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Smart Factory Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Smart Factory Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Smart Factory Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Smart Factory Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Smart Factory Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Smart Factory Market Structure
Key Questions Answered in the Report
The global market for smart factories attained a value of approximately USD 100.27 billion in 2023.
The market is projected to grow at a CAGR of 10.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching around USD 247.63 billion by 2032.
The market is being driven by increasing industrialisation, growing demand for consumer products, and advent of advanced industrial sensor technology.
The key trends of the market include increasing adoption of wireless technologies, surging demand for smart factory units in the food and beverage industry, and evolution of industry 4.0.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different components in the market for smart factories are industrial sensors, industrial robots, industrial 3D printing, and machine vision systems.
The various solutions of smart factories in the market are manufacturing execution system (MES), supervisory control and data acquisition (SCADA), plant asset management (PAM), and industrial safety.
The major industries for smart factories are process industry and discrete industry.
The major players in the market are ABB Ltd, Emerson Electric Co., General Electric Company, Siemens AG, Honeywell International Inc., among other.
Analyst Review
The global smart factory market attained a value of approximately USD 100.27 billion in 2023, 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 2024-2032, growing at a CAGR of 10.5%. The market is projected to reach around USD 247.63 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on component, the market is segmented into industrial sensors, industrial robots, industrial 3D printing, and machine vision systems. On the basis of solution, the market is divided into manufacturing execution system (MES), supervisory control and data acquisition (SCADA), plant asset management (PAM), and industrial safety. The market is bifurcated on the basis of industry into process industry and discrete industry. The major regional markets for smart factories 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, 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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