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Smart Factory Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Smart Factory Market Share
What Is the Current Smart Factory Market Size and Its Estimated Growth Rate?
There has been a significant increase in the size of the smart factory market in past years. Originally predicted to expand from $82.07 billion in 2024 to $89.56 billion in 2025, it demonstrates a compound annual growth rate (CAGR) of 9.1%. The notable growth witnessed in the historic period is linked to the embracement of industry 4.0 and digital transformation. The rising acceptance of data analytics and big data, automation and robotics, cyber-physical systems, and edge and cloud computing has contributed to this growth.
Expectations are high for a considerable expansion in the smart factory market size in the coming years. By 2029, it is projected to reach a worth of $144.69 billion, with a compound annual growth rate (CAGR) of 12.7%. This anticipated growth during the forecast period can be linked to factors such as governmental backing and regulatory policies, increased emphasis on sustainability and supply chain resilience and visibility, adaptability and scalability in manufacturing solutions, and a higher focus on cybersecurity. Key trends for the forecast period are expected to be customization and personalization in the production process, remote observation and control, sustainable production practices, a human-centric approach to human-machine collaboration, intelligent sensors and actuators, and cooperative robotics (cobots).
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How Are Emerging Segments Shaping the Smart Factory Market Landscape?
The smart factory market covered in this report is segmented -
1) By Product: Machine Vision Systems, Industrial Robotics, Control Devices, Sensors Communication Technologies, Other Products
2) By Component: Smart Factory Hardware, Smart Factory Software, Smart Factory Services
3) By Industry Vertical: Automotive, Aerospace And Defense, Electrical And Electronics, Food And Beverages, Energy And Utilities, Healthcare And Pharmaceuticals, Other Industry Verticals
Subsegments:
1) By Machine Vision Systems: 2D Machine Vision, 3D Machine Vision, Vision Sensors, Frame Grabbers, Vision Software
2) By Industrial Robotics: Articulated Robots, SCARA Robots, Cartesian Robots, Collaborative Robots (Cobots), Gantry Robots
3) By Control Devices: Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Supervisory Control And Data Acquisition (SCADA) Systems, Human-Machine Interface (HMI) Devices
4) By Sensor Communication Technologies: Wired Communication, Wireless Communication, Industrial Internet Of Things (IIoT) Protocols
5) By Other Products: Advanced Analytics Software, Artificial Intelligence Solutions, Cloud Computing Services
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Which Growth Factors Are Influencing Smart Factory Market Expansion?
The smart factory market's expansion is anticipated to be driven by the rising demand for industrial robots. Industrial robots, which are mechanically engineered machines designed to automatically carry out production tasks in industrial settings, play a key role in a smart factory's operations. Smart factories prioritize the optimization and automation of their resources, utilizing tools like robotics, smart sensor technology, information technology, the internet of things, and artificial intelligence to achieve this. An example of this can be seen in the September 2024 data from the International Federation of Robotics, a non-profit organization based in Germany. The institution reported a significant increase in industrial robot installations, with the worldwide number of operational robots hitting a record 3.9 million in 2022. Consequently, the escalating demand for industrial robots is propelling the growth of the smart factory market.
Who Are the Dominant Players Across Different Smart Factory Market Segments?
Major companies operating in the smart factory market include ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., Cisco Systems Inc., Dassault Systèmes SE, Endress+Hauser AG, Kollmorgen Corp., Kuka AG, Omron Corporation, Oracle Corporation, Microsoft Corporation, PTC Inc., SAP SE, Hitachi Ltd., Amazon. com Inc., Fanuc Corporation, Cognex Corporation, FLIR Systems Inc., CoreTigo Ltd., Airbus Group Inc., Cellares Corp.
What Are the Latest Developing Trends in the Smart Factory Market?
The rise of technological developments is a major trend picking up steam in the smart factory market. Big players in the smart factory industry are harnessing the power of advanced technology to enhance their manufacturing processes and increase efficiency. To illustrate this point, in July 2024, Hexagon AB, an industrial technology firm from Sweden, introduced its Digital Factory solution which allows manufacturers to build exact digital versions of their factories to improve production and efficiency. This solution holds the potential to save manufacturers millions each year by reducing costs and avoiding mistakes during the factory planning and construction stages. Hexagon uses its resources in precise reality capture, 3D simulation software, and cloud-based collaboration tools to tackle the unique problems faced by the manufacturing sector. Even though digitalization has been extensively employed in areas like civil infrastructure and public safety, its capability in manufacturing is still relatively undiscovered, especially among brownfield site owners.
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Which Geographic Regions Are Expected to Dominate the Smart Factory Market in the Coming Years?
Asia-Pacific was the largest region in the smart factory market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart factory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Factory Market?
2. What is the CAGR expected in the Smart Factory Market?
3. What Are the Key Innovations Transforming the Smart Factory Industry?
4. Which Region Is Leading the Smart Factory Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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