Press release
Smart Factory Market 2023 - By Driving Factors, Future Growth, Industry Insights, Revenue And Outlook By 2032
Smart Factory Market
Smart Factory Market Size, Growth Rate, And Forecast
The global smart factory market size grew from $70.44 billion in 2022 to $79.04 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart factory market size is expected to grow to $119.28 billion in 2027 at a CAGR of 10.8%.
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Smart Factory Market Drivers
The growing demand for industrial robots is expected to propel the growth of the smart factory market going forward. Industrial robots refer to mechanical machines that are programmed to automatically perform production-related tasks in industrial environments. A smart factory focuses on the optimization and industrial automation of its resources, using tools such as information and smart sensor technologies, robotics, the internet of things, or artificial intelligence.
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Smart Factory Market Segments
• By Product: Machine Vision Systems, Industrial Robotics, Control Devices, Sensors Communication Technologies, Other Products
• By Component: Smart Factory Hardware, Smart Factory Software, Smart Factory Services
• By Industry Vertical: Automotive, Aerospace and Defense, Electrical and Electronics, Food and Beverages, Energy and Utilities, Healthcare and Pharmaceuticals, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Smart Factory market.
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Smart Factory Market Key Players
Major competitors in the Smart Factory market include ABB, Emerson Electric Co, General Electric, Honeywell International Inc., IBM, Johnson Controls International PLC, Mitsubishi Electric Corporation.
The Business Research Company's "Global Smart Factory Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Smart Factory Market Include:
1. Executive Summary
2. Smart Factory Market Characteristics
3. Smart Factory Market Trends And Strategies
4. Smart Factory Market - Macro Economic Scenario
5. Smart Factory Market Size And Growth
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26. Africa Smart Factory Market
27. Smart Factory Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Factory Market
29. Smart Factory Market Future Outlook and Potential Analysis
30. Appendix
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