Smart Factory Market| Global Opportunity Analysis and Industry Forecast, 2023-2032

According to the report published by Allied Market Research "The Smart Factory Market| Global Opportunity Analysis and Industry Forecast, 2023-2032." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

Rising industry of refurbished robots and untapped field such as industrial robots and RFID are expected to create lot of opportunities for the growth of the smart factory market. The factors that are driving the growth of the Smart Factory market are the rising practice for advanced base for manufacturing, increased focus on energy consumption and improved efficiency of manufacturing. However, the factors that are hampering the growth of the market are lack of interoperability & standardization and the shortage of trained workers.

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Smart factory technology market is segmented into information technology system, enterprise resource planning (ERP), manufacturing execution system and industrial control system. Enterprise resource planning (ERP) is the largest revenue generating segment due to the usage of software applications to embody the processes and products, relationships between activities & functions, procedures and information flow.

Smart factory field devices market is segmented into industrial robotics, articulated robot, control devices and industrial network. Industrial Robotics is further segmented into articulated robot, cylindrical robot, scara robot and cartesian robot. Control Devices is further segmented into sensors, relays & switches and motors & drive. Industrial Network is also sub-segmented into RFID System (Chipless RFID and Chip-Based RFID), Wireless Network (Chipsets, Microprocessor System and Sensors) and Wired Network. Industrial Network is the largest revenue generating segment due to differentiated products for various purposes.

Smart factory application market is segmented into process industry and discrete industry. Process Industry is further segmented into pharmaceuticals, food & beverages, chemical and oil & gas. Discrete Industry is sub-segmented into automotive & transportation, packaging and mining, minerals & metals. Discrete industry is the largest revenue generating segment due to the rising demand for Smart Factory from automotive industry.

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Geographically, smart factory market is segmented into North America, Europe, Asia Pacific and RoW. Asia Pacific followed by North America is the largest revenue-generating segment due to its increasing adoption of Smart Factory in the automotive industry.

The key strategies adopted by the companies to expand in the smart factory market are product launches, mergers & acquisitions and agreements & collaborations. These strategies would provide efficient products and yield strongly performing products that support the market regulations and finally, exhibit better customer satisfaction. The companies profiled in this report are Ubisense Group PLC., System Insights, Inc., Operator System, Mitsubishi Electric Corporation, Microsoft, Johnson Controls, Inc., Invensys PLC., General Electric Co., CMC Associates, and Apriso Corporation.

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Key Benefits

● Analysis of the smart factory market on the basis of various segments is expounded in the report, and segmental analysis is done to identify the largest revenue generating segment

● To study the various factors that are enhancing and restraining the growth of the smart factory market that would help the market players in deeply understanding the market

● Study of SWOT and analysis of the captivating strategies adopted by the players in the market is conducted, which would help in assisting the stakeholders to take actionable decisions

● Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market are expounded in the report; thus, help stakeholders analyze the market

● To find out the recent trends of the smart factory market and opportunities that would open doors for the investors to participate in the market, which in turn would help in the enlargement and expansion of market.

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Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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