Smart Factory Market with Focus on Emerging Technologies, Regional Trends, Competitive Landscape, Re

The smart factory represents the technological and manufacturing development and is combination of high-tech tools and high-tech workers. Smart factory can be defined as a combination of production, information, and communication technologies, having the ability for integration across the entire manufacturing supply chain. The growing demand for sustainable and service-oriented business practices the smart factory is designed. It depends upon flexibility, adaptability, fault tolerance, and risk management.

Smart Factory Market consists of different technologies such Enterprise resource planning (ERP), Supervisory control and data acquisition (SCADA), Programmable Automation Controller (PAC), Programmable Logic Controller (PLC), Distributed Control System (DCS) and Human Machine Interface (HMI). Enterprise resource planning (ERP) is the real time management of business processes facilitated by software. Supervisory control and data acquisition is a controlled system architecture which uses computers, graphical user interfaces and network data communications for high-level processes. Human Machine Interface includes the electronics required to signal and control the state of Smart Factory equipment.

The industry players are emphasized on improving the efficiency of manufacturing process which is the major driver in Smart Factory market. Apart from it, developments in internet of things (IoT), focus on power consumption are the factors driving Smart Factory. Usage of robots in has been a market trend. The shortage of skilled and trained workers is observed as a threat in smart factory market. The study indicates that many organizations have increased investments in big data analytics, internet of things (IoT) and cloud technologies which is a booster for the smart factory market.

Global Smart Factory Market is expected to grow at USD 73 Billion by 2022, at 9% of CAGR between 2016 and 2022.

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Key Players:

The prominent players in the Smart Factory Market are - Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Cognex Corporation, Oracle Corporation (U.S.), IBM Corporation (U.S.), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan) among others.

Smart Factory Market Global Market- Segmentation

Segmentation by Technology: Enterprise resource planning (ERP), Supervisory control and data acquisition (SCADA), Programmable Automation Controller (PAC), Programmable Logic Controller (PLC), Distributed Control System (DCS), Human Machine Interface (HMI) and others.

Segmentation by Components: Industrial robotics, Control devices, Sensors & Actuators and Others.

Segmentation by Industrial Networks: RFID System, Wireless Networks, Wired Networks and Others.

Segmentation by End Users: Chemical & Manufacturing, Energy & Utilities, Power, Water & Waste management Transportation Systems and Others.

Segmentation by Region: North America, Europe, Asia Pacific, Rest of the World.

Regional Analysis:

The regional analysis of Smart Factory Market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Asia-pacific region has shown a considerable growth in smart factory due to technological improvements in the automotive manufacturing sector. The study indicates that countries like Japan, China, South Korea and many others have shown substantial progress in industrial robotics leading to an increase in smart factory market. United States, Germany, France and others are also showing rapid progress in the smart factory market.

Industry News

January 2018, Rockwell Automation evolved new offering from device to business enterprise to resolve the analytical tools. In order to enhance the productivity and operating efficiency rock well automation had evolved the Allen-Bradley ControlLogix, Allen-Bradley CompactLogix 5480 controller, and Allen-Bradley VersaView 5000. With these modules the connected enterprise will be able to reslove the complex analytical hurdles by the management authorities.

January 2018, Covestro selected Emerson Electric solutions to improve the uptime and operational performance. Emerson Electric Corporation has selected by the Covestro, one of the world’s largest polymer companies, to offer Industrial Internet of Things (IIoT) the Software-as-a-Service technologies, for remote monitoring and predictive maintenance and provide aid to the chemical manufacturer to minimize the risk and enhance uptime at nine high-utilization plants.

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