Smart Factory industry

Smart Factory industry Research Report By
Forecast 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)

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Smart Factory industry Forecast To 2023
Smart Factory industry Forecast To 2023
The smart factory is defined as a combination of high-tech tools and high-tech workers that represents the
technological and manufacturing development. Market Research Future (MRFR) has published a report about the
global Smart Factory industry that foretells boost for this market at 9% CAGR (Compound Annual Growth Rate)
between 2016 and 2022. Regarding value, the market is expected to be worth the US $ 73 bn by the end of the
forecast period.
Observing the market structure, this report offers insights about factors affecting the market growth. Measuring the
market size and foretelling the revenue, this reports examines and monitors the competitive developments of market
players that include joint ventures, new product developments, mergers and acquisitions, research and
developments (R&D), and strategic alliances

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Smart Factory industry Forecast To 2023
“Taste the market data and market information presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content
TOC & market synopsis on Internet of Smart Factory industry Forecast To 2023”
• The primal factor that backs the global Smart Factory industry growth is growing demand for sustainable and
service-oriented business practices the smart factory is designed. Smart factory depends upon adaptability, fault
tolerance, flexibility, and risk management. Other factors on which the market growth abuts on are developments
in the internet of things (IoT), industry players emphasizing on improving the efficiency of the manufacturing
process, focus on power consumption, usage of robots, and lastly, increased investments in big data analytics,
cloud technologies & IoT by corporate organizations. However, the shortage of skilled and trained workers can be
a threat to the market growth.

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Smart Factory industry Forecast To 2023
Global Smart Factory industry Segmented on the basis of
The global market for smart factories is segmented on the basis of component, connectivity, services, and
industry verticals.
Based on the components, the market has been bifurcated into hardware and software. The hardware
segment includes control devices, industrial robots, sensors, machine vision systems, among others.
Moreover, the segment is expected to acquire the fastest CAGR of 13.6% over the review period. Software
segment comprises Distributed Control System (DCS), Enterprise Resource Planning (ERP), Supervisory
Control and Data Acquisition (SCADA),Programmable Logic Controller (PLC), Programmable Automation
Controller (PAC), and others.

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Smart Factory industry Forecast To 2023
Global Smart Factory industry - Geographical Analysis
On the basis of region, the global Smart Factory industry has been segmented into Asia Pacific, North America,
Europe, and the rest of the world.
The North American region is the largest regional market for smart factories and is estimated to lead the market
share over the assessment period. This is attributed to the presence of multinational organizations with extensive
investments in research and development activities for industrial automation and other advanced technologies
such as Industrial Internet of Things (IIoT) and cloud technology. The presence of significant market players, along
with established industries, is also expected to contribute towards the market share.
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Smart Factory industry Forecast To 2023
Global Smart Factory industry - Competitive Analysis
• The major market players identified by MRFR in the global Smart Factory industry include Siemens AG, General
Electric Company (GE), ABB Ltd, Rockwell Automation, Schneider Electric, Honeywell International Inc., FANUC
Corporation, Mitsubishi Electric Corporation, Emerson Electric Co., Johnson Controls International PLC, Yokogawa
Electric Corporation, Atos SE, Robert Bosch GmbH, Cognex Corporation and Ubisense.
Industry News
• September 2019: NTT DOCOMO, a leading Japan-based mobile operator, announced that it became a member of
the 5G Alliance for Connected Industries and Automation (5G-ACIA), aiming to expand the usage of 5G technology
in the manufacturing sector.
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