Press release
Global Smart Factory Market Report 2025: Size Projected USD 452.54 Billion, CAGR of 8.82% by 2033.
The global smart factory market was valued at USD 209.96 Billion in 2024 and is projected to reach USD 452.54 Billion by 2033, exhibiting a CAGR of 8.82% during the forecast period 2025-2033. This growth is driven by industrial automation, adoption of connected technologies like AI, IoT, and cloud computing, and the need for operational efficiency in manufacturing. Asia Pacific dominates geographically with a 45.5% market share in 2024.
Study Assumption Years
• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033
Smart Factory Market Key Takeaways
• Current Market Size: USD 209.96 Billion in 2024
• CAGR: 8.82% from 2025 to 2033
• Forecast Period: 2025-2033
• Asia Pacific dominates the market with over 45.5% share in 2024.
• Industrial robots lead the field devices segment with around 35.3% market share in 2024.
• Distributed Control Systems (DCS) hold approximately 23.8% market share in the technology segment in 2024.
• Automotive and transportation is the largest end-use industry segment commanding about 25.4% market share in 2024.
• The United States accounts for 81.70% of the North America market in 2024, fueled by semiconductor R&D investments.
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Market Growth Factors
The smart factory market growth is propelled by a rising demand for industrial automation and the adoption of Industrial Internet of Things (IIoT) technologies. IIoT enables real-time monitoring, data-driven decision making, and predictive maintenance that enhance operational efficiency and reduce manufacturing costs. Integration of AI, cloud computing, and connected devices further strengthen this trend. A notable example is LG Electronics' integration of AI with extensive manufacturing expertise, offering digital twin technology and autonomous robots targeting sectors like semiconductors and pharmaceuticals.
Increasing attention to sustainability and energy efficiency is another key growth driver. Smart factories utilize IoT, AI, and data analytics to optimize energy usage, reduce waste, and support recycling, contributing to environmental responsibility. For instance, Emerson's Ovation Green portfolio aids power generation companies in transitioning to renewable energy, highlighting the sector's commitment to sustainability.
Additionally, the growth in smart factory adoption is accelerated by the need for operational resilience and cost reduction, especially in the U.S., where 86% of manufacturers see smart factories as vital for competition by 2025. Smart factories improve asset efficiency by 20%, enhance product quality by 30%, and reduce costs by 30%, addressing increasing demands for agility and customization in manufacturing.
Market Segmentation
Analysis by Field Devices:
• Industrial Sensors: Devices that detect and measure physical or environmental conditions, facilitating data collection crucial for automation in smart factories.
• Industrial Robots: Robots integrated with automation, connectivity, and AI, leading with a 35.3% market share in 2024, enhancing productivity and precision in manufacturing.
• Industrial Network: Infrastructure and protocols enabling communication among integrated factory devices for seamless operations.
• Industrial 3D Printers: Equipment focused on additive manufacturing processes to produce components layer-by-layer, supporting complex designs.
• Machine Vision Systems: Technology employing imaging to support automated inspection, quality control, and process guidance.
Analysis by Technology:
• Product Lifecycle Management (PLM): Systems managing the entire lifecycle of a product from inception to disposal.
• Human Machine Interface (HMI): Interfaces allowing human operators to interact with machines and systems efficiently.
• Enterprise Resource Planning (ERP): Integrated software systems for managing business processes across manufacturing and operations.
• Manufacturing Execution Systems (MES): Control systems monitoring and managing factory floor activities for optimized production.
• Distributed Control Systems (DCS): Leading technology with 23.8% market share in 2024, providing decentralized control and automation of complex manufacturing processes, enabling scalability and predictive maintenance.
• Industrial Control System: Systems used to control industrial processes.
• Others: Additional technologies supporting smart factory operations.
Analysis by End Use Industry:
• Pharmaceuticals: Manufacture of medicinal products requiring precision and regulatory compliance.
• Food and Beverages: Production industries focusing on safety and quality in consumables.
• Chemical: Manufacturing of chemicals with complex processing requirements.
• Oil and Gas: Industries involved in extraction and processing of hydrocarbons.
• Automotive and Transportation: Leading sector with 25.4% market share in 2024, employing smart technologies for production efficiency, supply chain optimization, and quality.
• Semiconductor and Electronics: Industries focused on electronic components manufacturing.
• Aerospace and Defense: Manufacture of aircraft, spacecraft, and defense equipment.
• Others: Additional sectors adopting smart factory technologies.
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Regional Insights
Asia Pacific dominates the smart factory market with over 45.5% share in 2024, driven by its strong manufacturing base, well-established industries like automotive and electronics, and proactive government initiatives promoting industrial automation and digital transformation. The region benefits from investments in R&D, subsidies, supportive policies, and a skilled workforce facilitating smart factory implementation.
Recent Developments & News
• November 2024: Schneider Electric launched a new smart factory in Dunavecse, Hungary, covering 28,000 m2 and employing up to 500 workers, boosting production capabilities by 90% for engineering-to-order solutions across Europe.
• October 2024: ABB Ltd. refreshed its branding with the new tagline "Engineered to Outrun," emphasizing its focus on accelerating electrification and automation.
• October 2024: Mitsubishi Electric Corporation announced a USD 86 Billion investment in its U.S. subsidiary to enhance advanced switchgear production and power electronics for renewable energy and decarbonization efforts.
• 2021: Dassault Systèmes entered a collaboration with Capgemini to accelerate digital transformation in manufacturing using the 3DEXPERIENCE platform.
• 2021: Emerson Electric Co. launched the Plantweb Optics platform integrating analytics, digital twins, and IIoT connectivity for real-time industrial process optimization.
• 2019: ABB Ltd. partnered with Ericsson to develop flexible wireless automation solutions using 5G technology for smart factories.
Key Players
• ABB Ltd
• Dassault Systèmes
• Emerson Electric Co.
• General Electric Company
• Honeywell International Inc.
• Johnson Controls International
• Microsoft Corporation
• Mitsubishi Electric Corporation
• Robert Bosch GmbH
• Schneider Electric SE
• Siemens AG
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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Contact Us
IMARC Group,
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Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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