Smart Factory Market Size, Volume Analysis and Key Trends 2015-2025 by FMI
Growing concerns with respect to increasing demand, zero defect and on-time production has resulted in emergence of smart production technology. Advancement in technologies are bringing together industrial value chain functions, such as product design, production planning, production execution, and services. On the other hand, technological advancements have resulted in making production facilities smarter in terms of efficiency, while minimizing defects, waste, and downtime. These types of facilities, classified as smart factories, help gain competitive advantage by making business process more dynamic. Across the supply chain, smart factory includes dynamic systems, intelligent analytics, smart machines, savvy workers, customers, and clients. Similarly, advances in production technologies ensures factories are safer, smarter, and environmentally sustainable.
Growing concerns with respect to increasing demand, zero defect and on-time production has resulted in emergence of smart production technology. Advancement in technologies are bringing together industrial value chain functions, such as product design, production planning, production execution, and services. On the other hand, technological advancements have resulted in making production facilities smarter in terms of efficiency, while minimizing defects, waste, and downtime. These types of facilities, classified as smart factories, help gain competitive advantage by making business process more dynamic. Across the supply chain, smart factory includes dynamic systems, intelligent analytics, smart machines, savvy workers, customers, and clients. Similarly, advances in production technologies ensures factories are safer, smarter, and environmentally sustainable.
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Global <strong>Smart</strong> <strong>Factory</strong><br />
<strong>Market</strong><br />
Future <strong>Market</strong> Insights<br />
Share, Global <strong>Trends</strong>,<br />
<strong>Analysis</strong>, Research, Report,<br />
Opportunities,<br />
Segmentation <strong>and</strong><br />
Forecast,<br />
<strong>2015</strong><br />
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Report Description<br />
Growing concerns with respect to increasing dem<strong>and</strong>, zero defect <strong>and</strong> on-time<br />
production has resulted in emergence of smart production technology. Advancement in<br />
technologies are bringing together industrial value chain functions, such as product<br />
design, production planning, production execution, <strong>and</strong> services. On the other h<strong>and</strong>,<br />
technological advancements have resulted in making production facilities smarter in<br />
terms of efficiency, while minimizing defects, waste, <strong>and</strong> downtime. These types of<br />
facilities, classified as smart factories, help gain competitive advantage <strong>by</strong> making<br />
business process more dynamic. Across the supply chain, smart factory includes dynamic<br />
systems, intelligent analytics, smart machines, savvy workers, customers, <strong>and</strong> clients.<br />
Similarly, advances in production technologies ensures factories are safer, smarter, <strong>and</strong><br />
environmentally sustainable.<br />
Browse Full Report@ http://www.futuremarketinsights.com/reports/smart-factorymarket<br />
<strong>Smart</strong> <strong>Factory</strong> <strong>Market</strong>: Drivers & Restraints<br />
Dem<strong>and</strong> for customer specific solutions <strong>and</strong> zero tolerance towards quality issues has<br />
prompted manufacturers to develop processes that not only deliver consistency in quality<br />
of output but also provide efficient production. Developments in information <strong>and</strong><br />
communications technology (ICT), increased focus on energy consumption, rising prices<br />
<strong>and</strong> tightening environmental regulationsare the key drivers for the smart factory market.<br />
However, restricted access to finance,limited availability ofskilled workers, <strong>and</strong>lack of<br />
st<strong>and</strong>ardization are the major challenges of the smart factory market.
Report Description<br />
<strong>Smart</strong> <strong>Factory</strong> <strong>Market</strong>: Segmentation<br />
On the basis of technology, the global smart factory market is segmented into<br />
information technology system, enterprise resource planning, industrial control system<br />
<strong>and</strong> manufacturing execution system. Enterprises resources planning dominates the<br />
global smart factory market in terms of revenue due to increase usage of software<br />
systems. The information technology system is the second most dominant segment on<br />
the basis of technology.<br />
On the basis of application, global smart factory market is segmented into two discrete<br />
industry <strong>and</strong> process industry. These two segments of global smart factory market are<br />
sub-segmented; the sub-segments under discrete industry segments are automotive &<br />
transportation, packaging, materials & mining, <strong>and</strong> others, whereas the sub-segments of<br />
process industry include pharmaceuticals, food <strong>and</strong> beverages, oil & gas <strong>and</strong> others. In<br />
terms of revenue, the global smart factory market is dominated <strong>by</strong> process industry,<br />
whilst the CAGR is the highest for discrete industry segment of global smart factory<br />
market.<br />
<strong>Smart</strong> <strong>Factory</strong> <strong>Market</strong>: Region-wise Outlook<br />
In developed regions, such as North America <strong>and</strong> Europe, such facilities help businesses<br />
in not only aligning with industry st<strong>and</strong>ards but also in complying with government<br />
regulations. Also, government <strong>and</strong> industrial associations of developed countries as well<br />
as developing countries are lob<strong>by</strong>ing for smart factories to meet future sustainability
Report Description<br />
needs. <strong>Smart</strong> factory optimizes the capacity use of machines <strong>and</strong> helps to reduce the<br />
adverse effects on the business.<br />
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The global smart factory market is expected to register a double digit CAGR for the<br />
forecast period. Depending on geographic regions, global smart factory market is<br />
segmented into seven key regions: North America, South America, Eastern Europe,<br />
Western Europe, Asia Pacific, Japan, <strong>and</strong> Middle East & Africa. As of <strong>2015</strong>, North America,<br />
Eastern Europe <strong>and</strong> Western Europe dominated global smart factory market in terms of<br />
market revenue. Asia-Pacific is projected to account for a dominating share in global<br />
smart factory market value exhibiting a robust CAGR during the forecast period, <strong>2015</strong>-<br />
<strong>2025</strong>.<br />
<strong>Smart</strong> <strong>Factory</strong> <strong>Market</strong>: <strong>Key</strong> Players<br />
Major players in global smart factory market are ABB Limited, Rockwell Automation Inc.,<br />
General Electric, Siemens AG, Schneider Electric SA, <strong>and</strong> Mitsubishi Electric Corporation.
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