Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global SMART
Factory Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international SMART Factory Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global SMART Factory Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global SMART Factory Market is offered. In accordance with the
report, the global SMART Factory Market is projected to expand at a CAGR of 7.2
% over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
The SMART
Factory is a fully connected and flexible system that relies on smart
manufacturing, thereby enabling the organizations to plan and forecast the life
cycle of products and production facilities digitally. With the introduction of
SMART factory, production facilities and logistics systems will be organized
without human intervention. Though at an infancy stage, smart factory is
considered an important outcome of the 4th industrial revolution or
Industry 4.0.
The evolution of Industry 4.0 and integration of various
technologies like Internet of Things (IoT), rising adoption of industrial
robots and innovative technologies in manufacturing sector are the driving
factors for global SMART factory market. The use of such technologies will
enhance the quality, production and asset efficiency, thereby eliminating human
and machine errors. Industrial Robots are gaining huge popularity are majorly
used in big companies, to eliminate human intervention for several basic and
complex tasks thereby increasing operational efficiency and increased
productivity.
The biggest factor that deters the growth of global SMART
factory market is the data and security related issues. Companies that use
SMART factory rely a lot on technology and data integration, which may be
targeted by various cyber-attacks. Moreover, smart technologies like PLM, ERP
etc. might pose a major challenge in factories using conventional methods. SMART factory is a highly capital intensive
market which may also hamper the growth of this market.
Due to technological innovation for intelligent
manufacturing and increasing adoption of automation technologies, the North
American region is expected to account for the largest share of the SMART
Factory market globally. Majority of government and private companies are
investing in the SMART factory market for promoting the use of Industry 4.0
technologies, which directly impacts productivity benefit for manufacturers.
Manufacturers spend a significant amount of its revenue
for its research and development specially focusing in product development and
innovations. In April 2017, ABB and IBM entered into partnership for an
Industrial Artificial Intelligence solution. This automation combination helped
in in identifying critical faults during the manufacturing process, thereby
improving the production lines. In June 2018, PTC and Rockwell Automation have
combined together to offer a solution for industrial companies to transform
their physical operations with digital technology.
Industry 4.0 or 4th revolution is a process to
transform the orthodox production ways to manufacturing products using
digitalization. A combination of cyber-physical systems, the Internet of Things
and the Internet of Systems makes Industry 4.0 possible and SMART factory a
reality.
However, at present, the world is gripped with Covid-19
pandemics, wherein some manufacturers have closed production completely, some
have seen reduced demands for products and services and others have seen a huge
increase in demand. The prime focus for manufacturers is survival and damage
limitation. Manufacturers are now reducing their non-essential spending and
investments, including solutions and advanced methodologies by Industry 4.0
which fall under the category of non-essential activities. However, SMART
Factory may have a slight chance to survive this crisis due to the capabilities
is offers like real-time visibility, artificial intelligence which would help
to re-assess plans and activities, use of mobile technology and augmented /
virtual reality to help workers perform tasks more efficiently. Also, SMART
factory technologies would make remote and virtual working efficient in times
of lockdown and social distancing.
Segment Covered:
This market
intelligence report on the global SMART Factory Market encompasses market
segments based on component, solution, industry and country/regions.
In terms of component, the global SMART
Factory Market is segregated
into :
§
Hardware
Components
ü Robots
v Industrial Robots
v Articulated Robots
ü Industrial Network
v RFID Systems
v Wired Network
v Wireless Network
ü Control Devices
v Switches
v Relays
v Drivers
v Motors
ü Machine Vision
ü Sensors
ü Industrial 3D Printing
ü Others
§ Software Components
ü Manufacturing Execution Systems
ü Industrial Control Systems
ü Product Life Cycle Management
ü Industrial Logistics
ü Supervisory Control
ü Data Acquisition System
ü Enterprise Resource Planning
ü Others
§ Services
ü Managed Services
ü Professional Services
By solution, the global SMART Factory Market is also classified into :
ü SCADA
ü PLC
ü DCS
ü MES
ü PLM
ü ERP
ü HMI
ü PAM
ü Others
By industry, the global SMART Factory Market is also classified into :
ü Process Industries
ü Oil & Gas
ü Power
ü Food & Beverages
ü Chemicals
ü Metals & Mining
ü Pulp & Paper
ü Pharmaceuticals
ü Others
v Water & Wastewater
v HVAC
v Recycling
v Plastics
v Printing
v Cement
v Glass
v Rubber
v Agriculture
v Furniture & Wood
v Textiles
ü Discrete Industries
ü Automotive
ü Machine Machinery
ü Semiconductor & Electronic
ü Aerospace & Defense
ü Medical Devices
ü Others
v Ceramics
v Fabricating
v Packaging Industries
ü Others
By country/region, the global SMART Factory Market has been divided into :
ü North America (the U.S., Canada),
ü Latin America (Brazil, Mexico, Argentina and other
countries),
ü Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
ü Asia Pacific (India, Japan, China, Australia and New
Zealand and other countries),
ü Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
ü ABB Group
ü Atos SE
ü Cisco Systems Inc.
ü Cognex Corporation
ü Emerson Electric Co.
ü FANUC Corporation
ü General Electric Company
ü Honeywell International Inc.
ü Hewlett Packard Company
ü IBM Corporation
ü Johnson Controls Inc.
ü KUKA AG
ü Mitsubishi Electric Corporation
ü National Instruments Corporation
ü Omron Corporation
ü Oracle Corporation
ü PTC Inc.
ü Robert Bosch GmBH
ü Rockwell Automation Inc.
ü SAP SE
ü Schneider Electric
ü Siemens AG
ü TE Connectivity
ü Texas Instruments Incorporated
ü Yokogawa Electric Corporation
ü and many more
Others players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as SMART Factory related
investment & spending and developments by major players of the market are
tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the SMART Factory Market, size of the market (US$ Mn), and Compound Annual Growth
Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account
2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world SMART Factory Market is done by taking into account various parameters such as
company strategies, distribution strategies, product portfolio, financial
performance, key developments, geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as Honeywell
International, Hewlett Packard Enterprise, IBM, Johnson Controls Inc., KUKA,
Mitsubishi Electric, National Instruments, Omron, Oracle, PTC Inc., Robert
Bosch GmBH, Rockwell Automation, SAP SE, Schneider Electric, Siemens, TE
Connectivity, Texas Instruments, Yokogawa Electric and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for SMART Factory Market caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for SMART Factory Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the SMART Factory Market
v
Identification
of key factors driving investment opportunities in the SMART Factory Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants