Press release
Strategic Forecast for the Smart Factory Industry: Market Outlook 2025-2034
Smart Factory Market Growth
Smart Factory Market Size Growth Forecast: What to Expect by 2025?
The market size for smart factories has seen robust growth in the latest years. It is projected to expand from $82.07 billion in 2024 to $89.56 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.1%. The historic period growth was partly due to the embrace of industry 4.0 and digital transformations, a rise in the utilization of data analytics and big data, the integration of automation, robotics, cyber-physical systems, cloud computing and edge computing.
How Will the Smart Factory Market Size Evolve and Grow by 2029?
The size of the smart factory market is anticipated to boost significantly in the upcoming years, with an estimation to reach $144.69 billion in 2029, displaying a compound annual growth rate (CAGR) of 12.7%. Factors contributing to its escalation in the prognosticated timeline encompass government patronage and regulatory policies, a heightened focus on sustainability, resilience, and visibility of supply chain, adaptable and extensible manufacturing strategies, and a prominent concentration on cybersecurity. Future trends to look forward to within this era comprise customization and personalization of production, remote surveillance and governing, sustainable production protocols, people-centered schematics in human-machine cooperation, intelligent sensors and effectors, and collective robotics or cobots.
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What Drivers Are Propelling the Growth of Smart Factory Market Forward?
The upsurge in the requirement for industrial robots is projected to spur the expansion of the smart factory market in the near future. Industrial robots are mechanized devices that are programmed to autonomously execute tasks related to production in industrial settings. The primary focus of a smart factory lies in optimizing and automating its resources through the use of tools such as information and smart sensor technologies, robotics, the internet of things, and artificial intelligence. For example, in September 2024, the International Federation of Robotics, a non-profit organization based in Germany, reported a rise in industrial robot installations, with the global tally of operational robots hitting a new record of 3.9 million in 2022. Hence, the increasing requirement for industrial robots is steering the growth of the smart factory market.
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Which Emerging Trends Are Transforming the Smart Factory Market in 2025?
Advancements in technology are becoming a predominant trend in the smart factory arena. Major corporations within this sector capitalize on innovative technologies to refine their production procedures and yield greater efficacy. For instance, Hexagon AB, a nascent industrial technology firm based in Sweden, made strides in the field in July 2024 with the introduction of its Digital Factory solution. This tool empowers manufacturers to construct accurate digital doubles of their factories to augment production and efficiency. By cutting back on costs and errors during factory planning and construction, this solution offers the possibility of saving manufacturers millions on an annual basis. Hexagon uses its excellence in precise reality capture, 3D simulation software, as well as cloud-native collaboration tools to respond to the specific predicaments of the manufacturing industry. Despite digitalization being well established in realms like civil infrastructure and public safety, its possibilities in the manufacturing industry are somewhat nascent, especially for owners of brownfield sites.
What Are the Key Segments in the Smart Factory Market?
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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Who Are the Key Players Shaping the Smart Factory Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Smart Factory Market?
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
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