Global Smart Factory and Manufacturing Market shall grow at a CAGR of 9.7% during 2021-26

According to the MarkNtel Advisors research report, “Global Smart Factory and Manufacturing Market Analysis, 2021,” the market is likely to grow at a CAGR of 9.7% during 2021-26 due to the growing trends of modern digital industrial technologies and the need for augmented speed, productivity, and efficiency. Furthermore, incredible innovations & massive government funding in the industrial segment like IoT and AI-connected environment allows providers to reach a broader section of customers, thereby fueling the overall market growth.

Key questions answered in the study
1. What are the current and future trends in the Global Smart Factory and Manufacturing Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Smart Factory and Manufacturing Market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Smart Factory and Manufacturing Market service providers across various regions?

Request to get the sample pages of the market research: https://www.marknteladvisors.com/query/request-sample/global-smart-factory-and-manufacturing-market.html

Blockchain to Attain Largest Market Share
Based on Technology, Blockchain is likely to attain the largest market share in the forecast years. It has its usage in logistic optimization and supply chain management. Blockchain technology uses historical data and creates protection for the future. Several startups like Chainvu and nanoPay indicate the flourishing growth of Blockchain technology in Smart Factory and Manufacturing. Therefore, the segment is likely to witness robust demand and contribute to the overall market growth in the forecast years.

Artificial Intelligence (AI) to Witness Exponential Market Growth
AI uses and analyzes all the data collected through insights from day-to-day manufacturing and other similar processes. Globally, the integration of AI in manufacturing is increased by more than 60% in recent years and AI-led processes with more percentage, as companies are frequently adopting AI for automated manufacturing for the better use of resources, thereby increasing the overall productivity. Therefore, the demand for AI is exponentially surging globally and is likely to propel the overall market growth in the forecast years.

“Global Smart Factory and Manufacturing Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Smart Factory and Manufacturing providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

For detailed analysis: https://www.marknteladvisors.com/research-library/global-smart-factory-and-manufacturing-market.html

According to MarkNtel Advisors, the major leading players in the Global Smart Factory and Manufacturing Market are IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle, etc.

Market Segmentation:
1. By Technology (AI (Artificial Intelligence), IIOT (Industrial Internet of Things), Cloud-based, Blockchain, Others)
2. By Application (Manufacturing, Logistics & Transportation, Retail, Storage, Maintenance, Protection from Cybercrime, Construction, Quality Control, Others)
3. By Software Type (SCADA, HMI, PLC, DCS, Others)
4. By Component (Sensors Smart Infrared Cameras, 3D sensors, Others, Controllers, Software Controllers, Drive Controllers, Heating Controllers, Others, Industrial Robots, (Traditional Robots (Articulated Robots, Cartesian Robot, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Other Robots), (Collaborative Robots), Others)
5. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
6. By Competitors (IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle)

MarkNtel Advisors
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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.