Machines & Equipment / Smart Factory Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Siemens AG, ABB Ltd., Honeywell International, Inc., Yokogawa Electric Corp.
Smart Factory Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Siemens AG, ABB Ltd., Honeywell International, Inc., Yokogawa Electric Corp.
Over the next five years the Smart Factory Market will register a 9.74% CAGR in terms of revenue, the global market size will reach USD 514.65 billion by 2027.
Smart Factory Market Overview
Industry 4.0's increasing acceptance is predicted to increase demand for smart manufacturing. The digital transformation of manufacturing/production and allied industries, as well as value creation processes, is referred to as Industry 4.0. Industry 4.0 is transforming the way businesses make, improve, and distribute their products. Manufacturers are incorporating new technologies such as the Internet of Things (IoT), cloud computing and analytics, and AI and machine learning into their production facilities and operations. Digital technologies provide more automation, predictive maintenance, self-optimization of process improvements, and, most crucially, a new level of efficiency and responsiveness to customers that was previously unavailable. The manufacturing industry has a fantastic potential to enter the fourth industrial revolution by developing smart factories. Using vast amounts of big data collected for analysis.
Industry Updates:
28 March 2018: Siemens Ltd. Seoul Presents Future Factory Innovation Solutions at Smart Factory + Automation World 2018-
A global powerhouse in electrical engineering and electronics leading the age of digitalization, Siemens Ltd. Seoul (SLS) will be participating in “Smart Factory + Automation World 2018”, Korea’s largest industrial automation exhibition, held at COEX, Seoul, from March 28 to March 30. Siemens will set up the largest booth among exhibitors.
2021-11-29: ABB launches industry-first smart factory solution for safer, more autonomous and efficient steel melt shop operations-
Pioneering technology leader ABB has launched ABB Ability™ Smart Melt Shop, the first smart factory digital application of its kind for the metals industry. It is designed to increase melt shop productivity, save energy and improve employee safety, with payback within six months.
What are the major Applications, Types and Regions for Smart Factory Market?
Smart FactoryMarket is segmented based on the type, applications, companies and regions.
Market Volume (%) By Type, it is segmented into
Process Manufacturing
Discrete Manufacturing
Others
Market Volume (%) By Applications it is segmented into
Automobile and Transportation
Food and Beverage
Electrical and Electronics
Chemical and Material
Oil and Gas
Other
Smart Factory Market Regional Analysis
In APAC, Industry 4.0, the newest industrial revolution, has fuelled the development of new technologies, such as collaborative robots. AI-enabled robots have enabled industries to use robots to streamline many processes, increase efficiency, and eliminate errors. Increased workplace safety and improved production capabilities have further driven industries to invest in robotic systems.
China has led the industrial robot market, which has driven its way to smart factory automation in the region and is one of the leading manufacturing countries in APAC and worldwide. The rise in shipment of industrial robots in the country and the adoption of various Industrial Control Systems facilitate factory automation at scale.
All these factors greatly affect the Smart Factory market growth. It further aims at providing complete overview on detailed assessment of significant features of different industries including sales value, sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
The Smart Factory Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Smart Factory Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Smart Factory Market report scope?
The report includes in-depth assessment of the competitive landscape, product market sizing (Value and Volume), product benchmarking, market trends, product developments, financial analysis, strategic analysis and many more to measure the impact forces and potential opportunities of the market. As well as this the report also includes a study of major developments in the market like product launches, agreements, acquisitions, collaborations, mergers and many more to comprehend the prevailing market dynamics at current and its impact in the forecast period 2012-2027.
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR (Value and Volume)
CAGR of 9.74% during the review period (2022 to 2027).
Market Volume (%) By Type(Revenue, USD Million, 2017 - 2022)
Process Manufacturing
Discrete Manufacturing
Others
Market Volume (%) By Type(Revenue, USD Million, 2017 - 2022)
Automobile and Transportation
Food and Beverage
Electrical and Electronics
Chemical and Material
Oil and Gas
Others
Quantitative units
Revenue in USD million/billion and CAGR from 2022 to 2027
By Companies
Siemens AG, ABB Ltd., Honeywell International, Inc., Yokogawa Electric Corp., General Electric Company, Emerson Electric Company, Schnieder Electric, Atos SE, Rockwell Automation Inc., Robert Bosch GmbH
Regions Covered
North America
Europe
Asia-Pacific
Rest of the World
Countries Covered
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2022 to 2027
Customization Available
Yes, the report can be customized as per your needs
Key Highlights from this Smart Factory Report
A comprehensive backdrop analysis, which contains an assessment of the parent market
Essential changes in market dynamics.
Market segmentation up to the second or third level.
Historical, current, and projected size of the market from the standpoint of both value and volume.
Reporting and evaluation of recent industry developments.
Market shares and strategies of major players.
Emerging niche segments and regional markets.
An objective assessment of the trajectory of the market.
Recommendations to companies for strengthening their foothold in the market.
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Questions
What is the study period of this market?
The Smart Factory Market is studied from 2017 - 2027.
What is the growth rate of Smart Factory Market?
The Smart Factory Market is growing at a CAGR of 9.74% over the next 5 years.
Who are the key players in Smart Factory Market?
Siemens AG, ABB Ltd., Honeywell International, Inc., Yokogawa Electric Corp., General Electric Company, Emerson Electric Company, Schnieder Electric, Atos SE, Rockwell Automation Inc., Robert Bosch GmbH
What region does this Smart Factory Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Smart Factory Market?
Process Manufacturing, Discrete Manufacturing, Others
What are the major end-use applications of Smart Factory Market?
Automobile and Transportation, Food and Beverage, Electrical and Electronics, Chemical and Material, Oil and Gas, Others
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
