Smart Factory Market : New Key Tactics The Pros Use

A smart factory is a highly digitized and connected production facility that depends on smart manufacturing. The concept of the smart factory is considered a crucial outcome of the fourth industrial revolution, i.e. Industry 4.0. Manufacturing companies are the major adopters of smart factories where they employ cutting-edge technologies such as artificial intelligence, Internet of Things, big data, analytics, and robotics.

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Frequently Asked Questions

1) What is The Scope of the Report?

This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

2) What are the Key Segments in the Market?

• By Manufacturing Vertical
• By Component
• By Market Structure
• By Region

3) Which Market Dynamics Affects the Businesses?

The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

Market Dynamics

Rising adoption of IIoT and cyber-physical systems is the major factor driving the global smart factory market as adoption of industrial internet of things (IIoT) and cyber-physical systems (CPS) is expected to revolutionize the global smart factory market. Moreover these IIoT devices allows connectivity all along the value chain for better communication among manufacturers, wholesalers, retailers, and consumers. Furthermore, government initiatives and increasing investments in smart manufacturing by the large manufacturing companies is also expected to propel the marketFor instance, The European Commission is investing around US$ 2 Bn on “Factories of The Future 2020” initiative, along with The European Factories of the Future Research Association (EFFRA) in the form of a public-private partnership to develop the blueprint for the smart manufacturing sector in the European Union.

Detailed Segmentation:

Global Smart Factory Market, By Component:

Hardware
Software
Services

Global Smart Factory Market, By Market Structure:

To Connect
Wired and Wireless Networking
Wide Area Networking (WAN)
Local Area Networking (LAN)
Machine-to-Machine Network

Keyplayers : Key players operating in the global smart factory market are Oracle Corporation, ABB Group, Atos SE, Rockwell Automation, Inc., Accenture PLC, General Electric Co., PTC Inc., Siemens AG, SAP SE, and IBM Corporation.

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