Smart Factory Market worth $400.13 billion by 2030, growing at a CAGR of 17.34% - Exclusive Report by 360iResearch

The "Smart Factory Market by Technology (Distributed Control System, Enterprise Resource Planning, Human-Machine Interface), Component (Industrial 3D Printing, Industrial Robots, Machine Vision), Industry - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Smart Factory Market to grow from USD 130.63 billion in 2023 to USD 400.13 billion by 2030, at a CAGR of 17.34%.

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A smart factory represents the evolution of the traditional manufacturing and production environment infused with modern technological advancements. It is a highly digitized and connected production facility that leverages the IoT), artificial intelligence (AI), data analytics, and robotics to create a sophisticated system of production that is both self-optimizing and intercommunicative. The core objective of a smart factory is to significantly improve the efficiency, productivity, and flexibility of manufacturing operations while reducing waste and operational costs. Support for industrial automation from governments worldwide and the shift towards rapid industrial digital transformation and Industry 4.0 initiatives have propelled the growth of smart factories. Rising demand for enhanced productivity and efficiency is promoting businesses to adopt smart factory solutions, and continuous technological advancements in AI/Ml and IoT have created scope for innovation in the field of smart factories. However, complexities in integrating new systems with legacy equipment can impede market growth. Additionally, increased connectivity raises vulnerabilities to cyber-attacks, and the possibility of privacy or data breaches hamper the widespread proliferation of smart factories. However, key players are exploring the integration of blockchain technologies and new encryption algorithms to improve the security and privacy features of smart factories. Smart energy systems in factories can lead to sustainable practices, and virtual representations of physical processes to simulate and optimize factory operations can provide new avenues of growth for smart factories.

The Americas region, particularly the U.S. and Canada, is characterized by a robust and highly developed technological architecture with frequent innovations in the realm of data analytics, IoT, AI/Ml, and blockchain technologies, which has favorably shaped the proliferation of smart factories. Consumer needs in the Americas revolve around the demand for customized products, faster delivery times, and cost-effective production without compromising on quality. In response, manufacturers are investing in connected systems that facilitate flexible and efficient operations. The EMEA region, encompassing Europe, the Middle East, and Africa, presents a diverse market for smart factory solutions. European Union countries are leading in the adoption of Industry 4.0 due to their strong manufacturing base and the emphasis on innovation and automation. Initiatives such as Germany's Industrie 4.0 and the EU's Horizon Europe program are reflective of the ongoing commitment to smart manufacturing. Europe's stringent regulations for data privacy, cybersecurity, and security have created a highly standardized environment for the development of regulatory-compliant smart factories. In contrast, the Middle East is leveraging its wealth of natural resources to diversify into manufacturing, with smart factories playing a key role in this transition. In the Asia Pacific region, China, Japan, and India are key players in the smart factory market. China is witnessing a surge in smart manufacturing initiatives, supported by the government's Made in China 2025 plan, aiming to upgrade its manufacturing sector. India is following suit with initiatives such as 'Make in India', catalyzing the modernization of its industrial infrastructure.

Market Segmentation & Coverage:

This research report categorizes the Smart Factory Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Distributed Control System, Enterprise Resource Planning, Human-Machine Interface, Manufacturing Execution System, Plant Asset Management, Product Life Cycle Management, Programmable Logic Controller, and Supervisory Control & Data Acquisition. The Plant Asset Management commanded largest market share of 21.26% in 2023, followed by Supervisory Control & Data Acquisition.

Based on Component, market is studied across Industrial 3D Printing, Industrial Robots, Machine Vision, and Sensors. The Industrial Robots is further studied across Collaborative Robots and Traditional Industrial Robots. The Traditional Industrial Robots is further studied across Articulated Robots, Cartesian Robots, Cylindrical Robots, and Selective Compliance Assembly Robot Arm. The Machine Vision is further studied across Camera, Frame Grabbers, Optics, & LED Lighting, and Processor & Software. The Camera is further studied across Digital Camera and Smart Camera. The Sensors commanded largest market share of 24.57% in 2023, followed by Industrial Robots.

Based on Industry, market is studied across Discrete Industry and Process Industry. The Discrete Industry is further studied across Aerospace & Defense, Automotive, Machine Manufacturing, Medical Devices, and Semiconductor & Electronics. The Process Industry is further studied across Chemicals, Energy & Power, Food & Beverages, Metals & Mining, Oil & Gas, Pharmaceuticals, and Pulp & Paper. The Process Industry commanded largest market share of 73.02% in 2023, followed by Discrete Industry.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.56% in 2023, followed by Asia-Pacific.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Smart Factory Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Factory Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Smart Factory Market, highlighting leading vendors and their innovative profiles. These include 3D Systems Corporation, ABB Ltd., Andea sp. z o.o., Cisco Systems, Inc., Cognex Corporation, Emerson Electric Co., Epicor Software Corporation, Fanuc Corporation, Fruitcore Robotics GmbH, Fujitsu Limited, General Electric Company, Hitachi, Ltd., Honeywell International Inc., HP Development Company, L.P., International Business Machines Corporation, KUKA AG by Midea Group, Microsoft Corporation, Mitsubishi Electric Corporation, NVIDIA Corporation, Oracle Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., SAP SE, Schneider Electric SE, Siemens AG, Stratasys Ltd., TE Connectivity Ltd., Telefonaktiebolaget LM Ericsson, Texas Instruments Incorporated, Ubisense Ltd., and Yokogawa Electric Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Factory Market, by Technology
7. Smart Factory Market, by Component
8. Smart Factory Market, by Industry
9. Americas Smart Factory Market
10. Asia-Pacific Smart Factory Market
11. Europe, Middle East & Africa Smart Factory Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Smart Factory Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Factory Market?
3. What is the competitive strategic window for opportunities in the Smart Factory Market?
4. What are the technology trends and regulatory frameworks in the Smart Factory Market?
5. What is the market share of the leading vendors in the Smart Factory Market?
6. What modes and strategic moves are considered suitable for entering the Smart Factory Market?

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