Global Smart Factory Market: Overview

Smart factories have gained huge traction in the past couple of years owing to the increasing adoption of intelligence technologies in various industries including energy, mining, manufacturing, and petrochemicals. Increasing use of high-tech tools and high-tech machinery portrays a beautiful combination of manufacturing and technological developments. Another significant factor driving growth in the global smart factory market is the industrial shift towards cyber world. In this, every component of value chain likely to be connected to ensure informed manufacturing with zero defects and no-time lags that will further augments demand in this market.  

The report provides major drivers and restraints that influence growth in the global smart factory. These insights will benefit key stakeholder to get a complete knowledge about the market and crucial pointers that might affect in the growth of this market. In addition, geographical analysis, vendor landscape, and segmentation are also thoroughly analyzed in the report. Various assessments and evaluation of the market dynamics are based on throw statistical analysis of large volume of relevant data.

Global Smart Factory Market: Notable Developments

General Electronic and Siemens are two eminent players in the global smart factory market. The former provides industrial automation solutions on different process and discrete industries and latter holds majority in the smart factory market. GE’s Intelligent Platform business division offers software and hardware technology platforms by mainly focusing on selling through solution providers. Siemens holds a competitive edge in petrochemical, oil and gas, and chemical industries. Some of the other companies are also making significant efforts in expanding smart factory market.

  • Schneider Electric collaborating with Temasek, collectively entered an agreement to buy Larsen & Toubro’s Electrical & Automation business. They will then collaborate it with its Low Voltage & Industrial Automation Products business situated in India. This agreement will help both the companies to strengthen their position in this region.
  • IBM partnered with ABB for industrial artificial intelligence solutions. ­IBM Watson Internet of Things (IoT) and ABB Ability is a potent automation combination that will help in improving the production lines by recognizing critical faults over manufacturing process.

Several other players are also making significant efforts in expanding the global smart factory market by using different strategies and techniques. Some of the leading players include Schneider Electric, ABB, FANUC, Emerson Electric, General Electric, Yokogawa Electric, Honeywell International, Rockwell Automation, Mitsubishi Electric, Siemens, and Robert Bosch.

Global Smart Factory Market: Trends and Opportunities

Among the recent trends seen in the global smart factory market, includes development of Manufacturing Execution Systems (MES), data models for rapid usage, and factory-specific templates. Moreover, increasing industries of refurbished robots coupled with untapped fields such as industrial robots and RFID are projected to create lucrative growth opportunities in the global smart factory market.

Increasing R and D Activities by Institutions Led Dominance of Asia Pacific in Smart Factory Market

Geographically, Asia Pacific is expected to hold dominant share in the global smart factory market. Presence of dominant players such as Yokogawa, Mitsubishi Electric, Omron, and Fanuc led dominance of Asia Pacific in this market. In addition, increasing use of automotive technologies and technological innovations in various industrious industries also fueled growth in this market.

Among the various developing economies in Asia Pacific, China has been using advanced industrial practices by implementing automation technologies in manufacturing sector. Information integration and intellectualization are the central focus of the government policies, which also contributed in the growth of the Asia Pacific smart factory market.  Moreover, various research institutions and organizations are working together to improve manufacturing processes in China. Japan is also playing a significant role in boosting growth in this market. Prominent three companies namely Honda, Suzuki, and Toyota are working towards creating smart factories by developing manufacturing sensors, robots, machine vision systems, and wireless technologies. These initiatives will also spur growth in this market.  

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important 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 key 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   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.