Smart Factory Market

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SMART FACTORY MARKET ANALYSIS

• Smart Factory Market, By Component (Hardware,
  Software, and Services) by Market Structure (To
  Connect, To Collect, To Analyze, To Control ), by
  Manufacturing Verticals (Automobile
  Transportation, Food Beverages, Electrical
  Electronics, Aerospace Defense, Oil Gas,
  Garment Textile, Chemical Material, Others
  (healthcare pharmaceuticals)), and by Region
  (North America, Europe, Asia Pacific, and Latin
  America, Middle East Africa) - Size, Share,
  Outlook, and Opportunity Analysis, 2019 - 2027

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• Market Overview
• The global smart factory market is estimated to
  account for US 116.3 Bn in terms of value in
  2019 and is expected to grow at a CAGR of 13.3
  during the forecasted period 2019-27.
• Market Dynamics Drivers
• Growing demand for smart factory from key
  verticals is expected to drive growth of the
  global smart factor market during the forecast
  period
• Increasing focus on advanced manufacturing is
  expected to propel the global smart factory
  market growth over the forecast period

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Figure 1. Smart Factory Market
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• Market Dynamics Restraints
• Low availability of skilled personnel is expected
  to hamper the global smart factory market
  growth during the forecast period
• Concerns regarding data theft information
  security are expected to restrain growth of the
  global smart factor market over the forecast
  period

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Figure 2. Smart Factory Market Opportunity
Analysis
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• Market Opportunity
• Rising adoption of collaborative robots can
  provide major growth opportunities
• Increasing investments in manufacturing plants
  are expected to present lucrative opportunities
  for market players

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Figure 3. Smart Factory Market, Revenue
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• Figure 4. Smart Factory Market Opportunity

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Market Trends

• North America Trends
• Rising demand for industrial robots in the region
• Latin America Trends
• Increasing investments in automobile
  manufacturing plants

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• Competitive Section
• Key players operating in the global smart factory
  market are Oracle Corporation, ABB Group, Atos
  SE, Rockwell Automation, Inc., Accenture PLC,
  General Electric Co., PTC Inc., Siemens AG, SAP
  SE, and IBM Corporation.
• Few Recent Developments
• Key players in the market are focused on
  partnerships and collaborations, in order to
  enhance the market presence. For instance, in
  January 2020, Oracle Corporation partnered with
  Mitsubishi Electric to develop Internet of Things
  (IoT)-enabled platform for smart manufacturing.
• Major companies in the market are involved in
  capacity expansion, in order to gain a
  competitive edge in the market. For instance, in
  March 2018, ABB Group inaugurated its one of the
  first smart factories in Bangalore for production
  of electrical protection and connection solutions.

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