Global Smart Factory Market Outlook, Opportunities and Forecast by 2023

Within the last decade, the global Smart Factory market has been witnessing a steady surge in the consumption of the products, industries being the majority shareholders in terms of the consumption. Home owners hold a substantially small percentage of the share since the applications for home use are quite limited. Industry experts have claimed that the rise in demand from other industry verticals is expected to rise, resulting in more demand and higher consumption in the future. According to the new report by LP Information on the global Smart Factory market, the consumption figures promising as the Smart Factory market is expected to reach the value of US$ XX million at the end of 2023.

Browse The report: http://www.arcognizance.com/report/2018-2023-global-smart-factory-consumption-market-report

As per the survey conducted for gathering information for the research report, the information that has surfaced verifies the expert views. The Smart Factory market has been estimated to have valued US$ XX million at the end of 2017 and the major factors affecting the market trend have been discussed in detail with its analysis in the report. The global Smart Factory market research report dwells in the study of the Smart Factory market, providing the customers with the latest developments in terms of market share, growth opportunities, sales and production statistics, and much more.

Smart Factory is the advanced factory that has cyber-physical systems where materials can be moved efficiently across the factory floor. This advanced system has integrated computing codes that provides automation solution.

Within the modular structured smart factories, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralized decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real time, and via the Internet of Services, both internal and cross-organizational services are offered and used by participants of the value chain.

Request a Free Sample of The Report: http://www.arcognizance.com/enquiry-sample/100069

North America was the largest market with a market share of 29.09% in 2012 and 26.56% in 2017 with an increase of 2.53%. Europe and China ranked the second and third markets with the market share of 26.50% and 18.92% in 2016.

The smart factory market has been increased in accordance with the development of whole economy, technology and emerging application and the whole world response to the industry 4.0. What is more, continuous advancement in machine intelligence and internet is expected to bring about a fourth industrial revolution, expected to offer a wide range of benefits, including greater efficiency, flexibility, and safety. So, we will see a fast growth rate of the market. What more, there are some problems to be solved ahead, such as the whole supply chain, the whole eco-system, the fierce competition, the high cost, the international standard and so on.

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Siemens AG
ABB Ltd.
Honeywell International, Inc.
Yokogawa Electric Corp.
General Electric Company
Emerson Electric Company
Schnieder Electric
Atos SE
Rockwell Automation Inc.
Robert Bosch GmbH

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This release was published on openPR.