Smart Factory Market 2021 Global Key Country Analysis: ABB Ltd., Endress+Hauser AG, Emerson Electric Co., General Electric, Rockwell Automation, Inc

ReportsnReports published a new report, titled, “Smart Factory Market With COVID-19 Impact by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, PAM, MES, Industrial Safety), Industry, and Region - Global Forecast to 2026." A persuasive Smart Factory Market study takes into account a market attractiveness analysis, where each segment is benchmarked based on its market size, growth rate, and general attractiveness. The geographical scope of the products is also carried out comprehensively for the major global areas such as Asia, North America, South America, and Africa which helps define strategies for the product distribution in those areas. Comprehensive market research carried out in this business report puts a light on the challenges, market structures, opportunities, driving forces, scope, and competitive landscape for the business. The Smart Factory Market document assists to achieve an extreme sense of evolving industry movements before the competitors.

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The smart factory market size is expected to grow from USD 80.1 billion in 2021 to USD 134.9 billion by 2026; it is expected to grow at a CAGR of 11.0% from 2021 to 2026.

Major players operating in the smart factory market include:

ABB Ltd. (Switzerland),
Endress+Hauser AG (Switzerland),
Emerson Electric Co. (US),
General Electric (US),
Rockwell Automation, Inc. (US),
Schneider Electric SE (France),
Siemens AG (Germany),
Mitsubishi Electric Corp. (Japan),
Honeywell International Inc. (US),
and Yokogawa Electric Corp. (Japan)

Key Benefits of Buying the Report:

This report segments the smart factory market comprehensively and provides the closest approximations of the overall market size, as well as that of the sub-segments across different components, solutions, industries, and regions.

The report helps stakeholders understand the pulse of the market, expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.

The report helps to understand the COVID-19 impact on the smart factory market

By focusing on all the necessities and requirements of the businesses for achieving successful business growth, the global Smart Factory Market report is generated. Company snapshots, geographical presence, product portfolio, and recent developments are taken into consideration for studying the company profiles. This research study helps the customer understand the various drivers and restraints impacting the market during the forecast period. What is more, systemic company profiles covered in the Smart Factory Market report also explain recent developments, product launches, joint ventures, mergers, and acquisitions that are employed by several key players and brands.

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“Market for industrial sensors to account for largest market share in component during forecast period”

The industrial sensors segment is expected to hold the largest share of the smart factory market. The growth of the industrial sensors segment is driven by the growing adoption of Industry 4.0 and IIoT, and the growing wireless sensors market. Predictive maintenance is expected to offer lucrative opportunities to the players in the industrial sensors market in the coming years. Predictive maintenance is enabled by 3 major solution enhancements over a traditional maintenance schedule: capturing sensor data, facilitating data communications, and making predictions. As sensors are an important part of predictive maintenance solutions, the demand for industrial sensors is expected to increase significantly in the coming years.

“PAM solution to grow at highest rate during forecast period”

The PAM segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing deployment of PAM solutions in process and discrete industries to build a comprehensive data repository related to different equipment installed in these plants, right from their uptime performance to their life cycle cost assessment.

“Oil & gas process industry to account for largest market share during forecast period”

Smart factory solutions can enable the oil & gas industry to monitor the facilities remotely and gain insights into daily inventory and equipment conditions. Remote monitoring can compensate for the shortage of skilled workforce for collecting equipment data. It also reduces the risk to the lives of employees and improves the overall safety and efficiency of industrial workers.

“Medical devices discrete industry to grow at highest CAGR during the forecast period”

In the medical devices industry, smart factory solutions help improve manufacturing processes, planning, technology assessment, third-party services, and remote support. Smart factory technologies also help reduce recalls and wastes, and increase the profitability of the companies engaged in the manufacturing of medical devices due to precision in manufacturing.

“APAC is expected to capture largest market size during forecast period”

The APAC smart factory is projected to capture largest market size, driven by the increasing adoption of automation technologies across industrial sectors in China and India. Factory automation is increasing in China, due to high labor wages and the presence of a large number of automotive manufacturing plants. Growing population, rising standards of living, and developing economies have led to the rising demand for energy. It is estimated that APAC could drive approximately 65% of the global energy demand by 2035, with China and India collectively expected to fulfill 40% of the demand. Oil and gas companies in North America and Europe have started investing in APAC to fulfill the growing energy demand. The increasing energy demand would lead to the development of the energy sector, including oil & gas and power industries. This, in turn, would generate demand for automation products in the APAC region.

The break-up of the profiles of primary participants for the report has been given below:

By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
By Designation: C-Level Executives = 48%, Directors = 33%, and Others= 19%
By Region: North America = 35%, Europe = 18%, APAC = 40%, and RoW = 7%

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Table Of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition And Scope
1.2.1 Inclusions And Exclusions
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders
1.7 Summary Of Changes

2 Research Methodology
2.1 Introduction
Figure 1 Smart Factory Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List Of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown Of Primaries
2.1.2.2 Key Data From Primary Sources
2.1.3 Secondary And Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
Figure 2 Market Size Estimation Methodology (Supply Side): Revenue From Components And Solutions Of Smart Factory Market
2.2.1 Bottom-Up Approach
2.2.1.1 Estimating Market Size Using Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Estimating Market Size Using Top-Down Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown And Data Triangulation
Figure 5 Market Breakdown And Data Triangulation
2.4 Research Assumptions
Figure 6 Assumptions For Research Study
2.5 Risk Assessment
Table 1 Limitations And Associated Risks

3 Executive Summary
Figure 7 Key Stages In Smart Factory Adoption
Figure 8 Analysis Of Impact Of Covid-19 On Smart Factory Market
3.1 Realistic Scenario
3.2 Pessimistic Scenario
3.3 Optimistic Scenario
Figure 9 Industrial Sensors Component Accounted For Largest Market Share In 2020
Figure 10 Mes Solution Is Expected To Hold Largest Market Share By 2026
Figure 11 Process Industry Accounted For Larger Market Share In 2020
Figure 12 Apac Smart Factory Market To Witness Highest Growth During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities In Smart Factory Market
Figure 13 Increasing Demand For Iot And Ai Is Fueling Growth Of Smart Factory Market
4.2 Smart Factory Market, By Component
Figure 14 Industrial Sensors To Account For Largest Share Of Component Segment Of Smart Factory Market From 2021 To 2026
4.3 Smart Factory Market, By Solution
Figure 15 Mes To Account For Largest Size Of Smart Factory Market From 2021 To 2026
4.4 Smart Factory Market, By Industry
Figure 16 Discrete Industry To Account For Larger Market Size By 2026
4.5 Smart Factory Market, By Geography
Figure 17 Us Accounted For Largest Share Of Smart Factory Market In 2020

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 18 Smart Factory Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
5.2.1.1 Growing Emphasis On Energy Efficiency, Resource Optimization, And Cost Reduction In Production Operations
5.2.1.2 Increasing Demand For Industrial Robots
5.2.1.3 Rising Demand For Technologies Such As Iot And Artificial Intelligence In Industrial Environments
5.2.1.4 Fiscal Policies To Keep Manufacturing Facilities Afloat Amidst Covid-19 Crisis
Figure 19 Drivers For Smart Factory Market And Their Impact
5.2.2 Restraints
5.2.2.1 Requirement Of Significant Capital Investments
5.2.2.2 Security Risks Associated With Cyber-Physical Systems
Figure 20 Restraints For Smart Factory Market And Their Impact
5.2.3 Opportunities
5.2.3.1 Increasing Significance Of Remote Operating Requirements Owing To Covid-19 Outbreak
5.2.3.2 Growing Number Of Developments In Wireless Sensor Networks And Their Adoption In Smart Factories
Figure 21 Opportunities For Smart Factory Market And Their Impact
5.2.4 Challenges
5.2.4.1 Interoperability Between Information Technology (It) And Operational Technology (Ot)
5.2.4.2 Vulnerability To Cyberattacks
Figure 22 Challenges For Smart Factory Market And Their Impact
5.3 Value Chain Analysis
Figure 23 Value Chain Analysis
5.4 Ecosystem
Figure 24 Smart Factory Market: Ecosystem
Table 2 Companies And Their Role In Smart Factory Ecosystem
5.5 Yc-Ycc Shift: Smart Factory Market
5.6 Porter’s Five Forces Analysis
Table 3 Impact Of Each Force On Smart Factory Market
5.7 Case Study
5.7.1 Woodside Energy Used Exr-1 Robots To Enhance Safety Of Employees And Operations At Hazardous Locations
5.7.2 Ins Helped Arb Midstream Deploy Scada Solutions For A New Pipeline
5.7.3 Renishaw Helped Hieta Move Metal Additive Manufacturing (Am) From Prototype Manufacture Into Commercial Production For Its Specialist Range Of Heat Exchangers
5.7.4 Aveva Helped City Of Barcelona Effectively Manage Resources And Integrate New Processes And Facilities
5.8 Technology Analysis
5.8.1 Artificial Intelligence
5.8.1.1 Optimizing Steel Production With Ai
5.8.2 Augmented Reality
5.8.2.1 Augmented Reality In Smart Factory
5.8.3 Blockchain
5.8.3.1 Blockchain In Factories Of Future
5.8.4 5g
5.8.4.1 5g And Multi-Access Edge Computing (Mec) Will Help Keep Factory Workers Informed
5.8.5 Predictive Maintenance
5.8.5.1 Maximum Utilization Using Predictive Maintenance
5.8.6 Smart Energy Management
5.8.6.1 Energy Management For Smart Factories
5.8.7 Edge Computing
5.8.7.1 Transformation Of Smart Factories Requires Edge Computing
5.8.8 Predictive Supply Chain
5.8.8.1 Predictive Supply Chain In Smart Factories
5.8.9 Cybersecurity
5.8.9.1 Protecting Smart Production Lines
5.8.10 Digital Twin
5.8.10.1 Digital Twin As Foundation Of Industry 4.0
5.8.11 Iot
5.8.11.1 Iot Connectivity For Smart Factory
5.9 Pricing Analysis
5.9.1 Industrial Safety Components
Table 4 Average Selling Price Of Components
5.9.2 Industrial Robots
Table 5 Price Range Of Industrial Robots
5.9.3 Industrial 3d Printing
Table 6 Price Range Of Industrial 3d Printers
5.9.4 Industrial Sensors
Table 7 Price Range Of Industrial Sensors
5.9.5 Industrial Machine Vision Systems
Table 8 Price Range Of Machine Vision Systems
5.10 Trade Analysis
Figure 25 Imports Data For Industrial Robots, 2016–2020 (Usd Million)
Figure 26 Exports Data For Industrial Robots, 2016–2020 (Usd Million)
Table 9 Imports Of Industrial Robots, By Region, 2015–2019 (Usd Million)
5.11 Patents Analysis
Figure 27 No. Of Patents Granted Per Year From 2011 To 2020
Figure 28 Top 10 Companies With Highest Number Of Patent Applications In Last 10 Years
Table 10 Top Patent Owners In Last 10 Years (Us)
5.12 Regulatory Landscape
5.12.1 Standards
Table 11 Major Communication Standards For Scada Systems
Table 12 Industrial Safety Standards

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