smartfactory market


smartfactory market by Component (Software, Hardware, Service), by Connectivity (Wired Connectivity, Wireless Connectivity), by Industry Vertical (Electronics and Semiconductor, Aerospace & Defense, Automotive, Oil & Gas, Chemicals, Healthcare & Pharmaceuticals and others) Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast to 2023

smartfactory market Research Report By

Forecast 2023

Industry Survey, Growth, Competitive Landscape

and Forecasts to 2023


Market Research Future

(Part of Wantstats Research & Media Pvt. Ltd.)


smartfactory market Forecast To 2023

smartfactory market 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 smartfactory market 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


smartfactory market 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 smartfactory market Forecast To 2023”

• The primal factor that backs the global smartfactory market 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.


smartfactory market Forecast To 2023

Global smartfactory market 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.


smartfactory market Forecast To 2023

Global smartfactory market - Geographical Analysis

On the basis of region, the global smartfactory market 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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smartfactory market Forecast To 2023

Global smartfactory market - Competitive Analysis

• The major market players identified by MRFR in the global smartfactory market 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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