Smart Factory Market
Smart factory market growth will propelled by Adoption of advanced sensors and AI-powered equipment. Escalating demand for intelligent technology solutions to save labor and operational costs has fueled the growth of smart factory market extensively. Smart factories are basically aimed at improving work processes with the help self-optimizing and automating machinery. Technology has had a colossal impact on the operations of industrial facilities, helping to enhance manufacturing efficiency through automated systems and tools like analytics, Big Data and IoT.
The automotive industry is expected to emerge as a prominent growth avenue for the smart factory market over the forecast timeframe. In 2016, multinational automobile company Audi unveiled its Smart Factory 2035 vision in which it envisioned a facility without any assembly lines, instead deploying intelligent, flexible and modern production stations.
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Countries like France, Germany and the UK are experiencing remarkable technical developments in the domain of manufacturing and supply chain. Rising demand for passenger and luxury cars is propelling the growth of automotive sector in Europe, due to which numerous intelligent operational capabilities have emerged. Initiatives by private enterprises and the governments have helped in proliferation of industry 4.0, supporting smart factory market forecast.
Under the Industrial Strategy and Made Smarter initiative of the UK government, the country’s first smart factory test bed was recently unveiled. The move is aimed at allowing UK manufacturers to deploy digital solutions to drive productivity and innovation in their companies. The test bed, comprising remote machining activities, augmented reality and artificial intelligence technologies, is to demonstrate the possibility of 30% reduction in defects, 50% productivity benefits and improve time to market by 50%. Similar government initiatives will strengthen smart factory market outlook in the near future.
Through this production method, Audi estimates that the factory can produce approximately 400 electric drives with just 100 employees. Audi’s initiative offers a proof of the benefits in establishing a smart factory. Several key industry players are expected to follow suit and make investments in their own visions regarding advanced manufacturing plants, significantly boosting smart factory market outlook.
The global food & beverage segment will certainly emerge as a major revenue contributor for smart factory industry due to consistent demand for packaged and frozen food products. A large global population base, that is estimated to hit 9 billion by 2050, tightening regulatory demands around food safety & quality and environmental concerns, as the food & beverage sector consumes 5% of the world’s energy, are putting immense pressure on profit margins of producers.
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Glimpse of Table of Content (ToC): –
Chapter 4. Smart Factory Market, By Component
4.1. Key trends by component
4.2. Hardware
4.2.1. Market estimates and forecast, 2015 – 2025
4.2.2. Sensors
4.2.3. Industrial robots
4.2.3.2. Articulated robots
4.2.3.3. Cartesian robots
4.2.3.4. SCARA robots
4.2.3.5. Cylindrical robots
4.2.3.6. Collaborative robots
4.2.4. Machine vision
4.2.5. Others
4.3. Software
4.3.2. HMI
4.3.3. PLM
4.3.4. SCADA
4.3.5. DCS
4.3.6. Others
4.4. Service
4.4.1. Market estimates and forecast, 2015 – 2025
Chapter 5. Smart Factory Market, By Application
5.1. Key trends by application
5.2. Automotive
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Aerospace & defense
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Food & beverage
5.4.1. Market estimates and forecast, 2015 – 2025
5.5. Electrical & Electronics
5.5.1. Market estimates and forecast, 2015 – 2025
5.6. Energy & Power
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