About Smart Factory
The smart factory is a flexible system that can self-optimize performance across a broader network, self-adapt to and learn from new conditions in real or near-real time, and independently run entire production processes. Smart factories can work within the four walls of the factory also can be connect to a global network of similar production systems, and even to the digital supply network more broadly. It have the ability to evolve and grow along with the changing needs of the organization. It enables the organization to avoid operational downtime and other productivity challenges.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in the industry are seeking ways to reduce costs, improve product quality and production efficiency. The focus is on improved productivity and reduced production cost structure. Smart production technology provides ample technological solutions for small and medium-sized companies and its users with connected supply chains. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Smart Factory market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Siemens AG (Germany), ABB Ltd. (Switzerland), Honeywell International, Inc. (United States), Yokogawa Electric Corp. (Japan), General Electric (United States), Emerson Electric (United States), Schnieder Electric (France), Atos SE (France), Rockwell Automation Inc. (United States), FANUC (Japan) and Stratasys Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are System Insights Inc. (United States), Mitsubishi Electric Corporation (Japan) and Robert Bosch GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Smart Factory market by , Application (Manufacturing Operations, Warehouse Operations, Inventory Tracking, Quality Control and Maintenance) and Region.
On the basis of geography, the market of Smart Factory has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Hardware will boost the Smart Factory market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Manufacturing Execution System (MES) will boost the Smart Factory market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Users, the sub-segment i.e. Automotive Industry will boost the Smart Factory market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapidly Evolving Technological Capabilities and Adoption of Internet-based Technologies by Several Industry Verticals
Market Growth Drivers:
Increasing use of Enabling Technologies in Manufacturing, Increasing Demand of Automobile and Growing Demand for Industrial Robots
Challenges:
Unavailability of skilled personnel to operate and maintain the automated assets
Restraints:
Require High Capital Investment
Opportunities:
Increasing Investments in Smart Factory to Mitigate the Risk and Companies are adopting Data-Driven Technologies for Decision Making
June 11, 2018: PTC and Rockwell Automation, Inc. announce that they have entered into a definitive agreement for a strategic partnership that is expected to accelerate growth for both companies and enable them to be the partner of choice for customers around the world who want to transform their physical operations with digital technology.
Key Target Audience
Manufacturers of Industrial Robot, Suppliers of Industrial Robot, Hardware and Software Manufacturers, Automation Industry, Technology investors, System Integrators and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.