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Smart Factory Market Demanded Globally by Siemens, GENERAL ELECTRIC, ABB, Rockwell Automation, Inc., PTC, Schneider Electric, Honeywell International Inc, FANUC, Mitsubishi Electric Corporation

12-23-2019 06:00 AM CET | Industry, Real Estate & Construction

Press release from: Research for Markets

Smart Factory Market Demanded Globally

Smart Factory Market Demanded Globally

Global smart factory market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart factory market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Smart factory market is expected to reach USD 405.96 billion growing at a substantial CAGR of 10.20% in the forecast period of 2020-2029. The growth of this market is attributed to the evolution of IoT and increasing usage of technology in manufacturing.

Key Market Competitors:

Few of the major competitors currently working in smart factory market are Siemens, GENERAL ELECTRIC, ABB, Rockwell Automation, Inc., PTC, Schneider Electric, Honeywell International Inc, FANUC, Mitsubishi Electric Corporation, Emerson Electric Co., Yokogawa India Ltd., Bosch Limited and Stratasys Ltd. among others.

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Smart Factory Market Definition:

A smart factory is a production facility that is strongly digitized and linked and depends on digital manufacturing. A smart factory operates by using technologies such as artificial intelligence (AI), analytics, big data, and stuff internet (IoT) and can operate completely autonomously with self-correcting capacity. Extensive use of IoT sensors and devices binds machinery and allows for observation both in their state and in factory processes.

Smart Factory Market Scope and Market Size

Smart factory market has been segmented on the basis of component, technology and industry.

On the basis of component, smart factory market is segmented into sensors, industrial robots, industrial 3D printing and machine vision. The industrial 3D printing segment is the dominating segment with largest market share in the forecast period.

Traditional industrial robots is further segmented into articulated robots, Cartesian robots, selective compliance assembly robot arm (SCARA), cylindrical robots and other robots.

Machine vision is further segmented into camera, frame grabbers, optics and led lighting, processor and software.

On the basis of technology, smart factory market is segmented into Product Life Cycle Management (PLM), Manufacturing Execution System (MES), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Enterprise Resource Planning (ERP), Distributed Control System (DCS), Human Machine Interface (HMI) and Plant Asset Management (PAM).

Based on industry, smart factory market is segmented into process industry and discrete industry.

Based on the process industry, smart factory market is further segmented into oil and gas, chemicals, pulp and paper, pharmaceuticals, metals and mining, food and beverages, energy and power and others.

Based on discrete industry, smart factory market is further segmented into automotive, aerospace and defense, semiconductor and electronics, machine manufacturing, medical devices and others. Automotive is the dominating segment with the largest share in the forecast period.

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Country Level Analysis of Smart Factory Market

On the basis of region, the smart factory market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.

Asia-Pacific is the dominating region with largest market share in the forecast period 2020 to 2029.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.

Smart Factory Market Drivers:
• Increasing adoption of IoT is expected to drive the market growth.
• Rising need for IoT security is driving the market growth.
• Simplification of business processes drives the market growth.

Smart Factory Market Restraints:
• Uncertain status of regulatory hindering the market growth.
• Higher expectancy with increase in number of nodes hampering the market growth.

Key Developments in the Market:

In November 2019, Schneider Electric has launched a new smart factory in Bengaluru, India. This is the second such unit in India which drives process automation and increase operational efficiency of the industries. This launch will expand the business growth as well as market share of the company.

In June 2018, PTC has announced partnership with Rockwell Automation, Inc. which is expected to boost the growth of both companies. This partnership extends resources, technologies as well as market size of these companies. This partnership has been expanded the product portfolio of the company.
Competitive Analysis and Smart Factory Market Share Analysis:

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Smart factory market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Smart factory market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key market players involved in this industry
• Detailed analysis of the market segmentation
• Competitive analysis of the key players involved


Mr. A Naidu

Research for Markets

Tel: +44 8000-4182-37 (UK)


About Research for Markets:

Research for Markets indulges in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa.

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