Smart Factory Markets Will Reflect Significant Growth Prospects During 2016-24

The global smart factory market is estimated to reach USD 267.1 Billion in 2024 at a CAGR of 8.9%. Increasing adoption of wireless and sensor technologies, growing adoption of industrial robots, and increase complexity in supply chain management is expected to drive the smart factory market during the forecast period. However, high initial capital investment and risk associated with data loss and cyber security is expected to restrain the market during the forecast period. 3D printing technology is expected to become an opportunity for smart factory market.

The smart factory is a high digitized and connected production facility which depends on smart manufacturing. Moreover, it connects with plant to other entities in the digital supply network to enable effective supply chain management. In smart factory, machinery and equipment are able to improve processes through self-optimization and automation. Some key players in smart factory are Siemens AG, Fanuc Corporation, General Electric Company, Mitsubishi Electric Corporation, and Honeywell International Inc.

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Smart Factory Markets: Trends, Segmentation & Drivers

This market research report offers a comprehensive analysis of key market trends in the global smart factory market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of hardware, the market is segmented into industrial robots, sensors, machine vision systems, and others. By software, the smart factory market is segmented into product life cycle management (PLM), enterprise resource planning (ERP), machine execution systems (MES), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), and Others. On the basis of wireless connectivity, the market is segmented into wireless fidelity (Wi-Fi), WirelessHART, Bluetooth, and Zigbee. By end use industry the market is segmented into oil and gas, chemicals, automotive, electronics and semiconductors, aerospace and defense, and healthcare. as North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

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Smart Factory Market by Hardware

• Industrial robots
• Collaborative Robots
• Articulated Robots
• Cartesian Robots
• Selective Compliance Assembly Robot Arm (SCARA) Robots
• Cylindrical Robots
• Other Robots (Delta, Palletizing, Welding)
• Sensors
• Machine Vision System
• Others (Control Systems)

Smart Factory Market, by Software

• Product Life Cycle Management (PLM)
• Enterprise Resource Planning (ERP)
• Machine Execution Systems (MES)
• Programmable Logic Controller (PLC)
• Supervisory Control and Data Acquisition (SCADA)
• Others (DCS, HMI, PAM)

Smart Factory Market, by Wireless Connectivity

• Wireless Fidelity (Wi-Fi)
• WirelessHART
• Bluetooth
• Zigbee

Smart Factory Market by, End-Use Industry

• Oil and Gas
• Chemicals
• Automotive
• Electronics and Semiconductors
• Aerospace and Defense
• Healthcare

Smart Factory Market by Region

• Asia-Pacific
• China
• Japan
• South Korea
• India
• Taiwan
• Rest of Asia-Pacific
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• UK
• Spain
• The Netherlands
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East & Africa
• South America
• Brazil
• Argentina
• Rest of South America

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