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Smart Factory Market Overview, Industry Top Manufactures, Market Size, Industry Growth Analysis & Forecast: 2024 – PRnews Leader

Smart Factory

Smart Factory Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Smart Factory market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Industrial Robots to Witness the Highest growth

– Industrial robots are a very important part of the manufacturing industry. Robots have evolved with many technological advancements which include vision recognition, skill learning, failure prediction, utilizing AI, man-machine-collaboration.
– Robotic installation in the US has increased to a new peak. The driver for this growth in manufacturing industries has been the ongoing trend to automate production in order to strengthen the US industries in both domestic and global markets.
– The automobile manufacturing industry is the largest adopter of robots globally with a share of 33% of the total supply in 2017 according to the international federation of robotics. The manufacturing of passenger cars has become more complex over the past ten years, a substantial proportion of the production processes requires an automation solution using robots.
– Moreover, the ever-rising demand for electronic products and the need for batteries, chips, and displays are also a driving factor for the market as it requires an automated production process. Hence, as the need to automate production process increases, the demand for the industrial robots that can handle very small parts at high speeds, with very high degrees of precision, enabling manufacturers to ensure quality with optimized production costs is also increasing.

North America Occupies the Largest Market Share

– North America is on the verge of the fourth industrial revolution (Industry 4.0), wherein, data is being used on a large scale for manufacturing products, by integrating the data with a wide variety of manufacturing systems, throughout the supply chain.
– The accounts for the largest share in the North American market. This dominance is buoyed by smart manufacturing initiatives such as the Smart Manufacturing Leadership Coalition (SMLC), that drives and facilitate the broad adoption of manufacturing intelligence and automation.
– The growth of the automotive and oil and gas industry in North America is also driving the demand for the smart factory market. The is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers.
– The automotive manufacturing sector has been one of the largest revenue generators for the country, in the manufacturing sector. In addition, the US oil production is an area of interest, with a fall in the oil prices. The shale boom is considered as one of the most important energy developments, during the past decade.

Market Overview:

  • The global smart factory market was valued at USD 230.99 billion in 2018 and is expected to reach USD 391.29 billion by 2024, at a CAGR of 9.22% during the forecast period (2019 – 2024).
  • – Smart factory refers to the various fully-integrated automation solutions adopted for manufacturing facilities. This integration helps streamline the material flow during all the processes involved in the manufacturing, thus, enabling effective movement of materials across the factory floor. Combining the digital and physical worlds has revolutionized the automation industry, thereby, enabling optimum performance.
  • – Effortless monitoring, reduction of waste, and speed of production are some of the major advantages of a smart factory. This technology advancement offers customers an improved quality, with standardization and dependable products, within time and at a much lower cost.
  • – The rise of wireless networking technologies is enabling revolutionary developments in this market (including the increasing number of smart factories) and also spurring the use of mobile devices, to monitor and manage industrial processes.
  • – The US manufacturing sector is the second largest in the world, after China. According to the World Economic Forum’s 2018 report, the is globally renowned for its ability to innovate and is currently at the forefront of major developments surrounding the emerging technologies of Industry 4.0 which is also going to drive the growth of smart factory market.

    Key Manufacturers Like 

  • ABB (Asea Brown Boveri) Group
  • Cognex Corporation
  • Siemens AG
  • Schnieder Electric SE
  • Yokogawa Electric Corporation
  • Swisslog Holding Ag (Kuka AG)
  • Rockwell Automation Inc.
  • Honeywell International Inc.
  • Robert Bosch GmbH
  • Atos SE
  • Johnson Controls Inc.
  • Emerson Electric Company.

    Scope of the Report:

  • A smart factory is an environment where machines and equipment are able to improve processes through automation and self-optimization. The benefits also extend beyond the physical production of goods and into functions like planning, supply chain logistics, and even product development.

    Smart Factory market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Smart Factory market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Smart Factory market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Smart Factory market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Smart Factory market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Smart Factory ?
    • Who are Opportunities, Risk and Driving Force of Smart Factory market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Smart Factory space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Smart Factory market opportunities, market risk and market overview of the Market?

    Lastly, the Global Smart Factory Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Smart Factory Market Report:

    • To provide a detailed analysis of the market structure along with the Smart Factory market forecast of various segments and sub-segments of the Smart Factory market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Smart Factory market trends that influence the global Smart Factory market

    Detailed TOC of Smart Factory Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Growing Adoption of Internet of Things (IoT) In Industrial Sector
    4.3.2 Industry Digitization and End-to-End Supply Chain Visibility
    4.3.3 Rising Demand For Energy Efficiency
    4.4 Market Restraints
    4.4.1 Huge Capital Investments for Transformations
    4.4.2 Vulnerable to Cyber Attacks
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry


    6.1 By Type
    6.1.1 Machine Vision Systems Cameras Processors Software Enclosures Frame Grabbers Integration Services Lighting
    6.1.2 Industrial Robotics Articulated Robots Cartesian Robots Cylindrical Robots SCARA Robots Parallel Robots Collaborative Industry Robots
    6.1.3 Control Devices Relays and Switches Servo Motors and Drives
    6.1.4 Sensors
    6.1.5 Communication Technologies Wired Wireless
    6.1.6 Other Types
    6.2 By Technology
    6.2.1 Product Lifecycle Management (PLM)
    6.2.2 Human Machine Interface (HMI)
    6.2.3 Enterprise Resource Planning (ERP)
    6.2.4 Manufacturing Execution Systems (MES)
    6.2.5 Distributed Control Systems (DCS)
    6.2.6 Supervisory Control and Data Acquisition (SCADA)
    6.2.7 Programmable Logic Controller (PLC)
    6.2.8 Other Technologies
    6.3 By End-user Vertical
    6.3.1 Automotive
    6.3.2 Semiconductors
    6.3.3 Oil & Gas
    6.3.4 Chemical & Petrochemical
    6.3.5 Pharmaceutical
    6.3.6 Aerospace & Defense
    6.3.7 Food & Beverage
    6.3.8 Mining
    6.3.9 Other End-user Vertical
    6.4 Geography
    6.4.1 North America United States Canada
    6.4.2 Europe Germany United Kingdom France Rest of Europe
    6.4.3 Asia-Pacific China Japan India Rest of Asia-Pacific
    6.4.4 Latin America Brazil Argentina Mexico Rest of Latin America
    6.4.5 Middle East & Africa Saudi Arabia UAE Rest of Middle East & Africa

    7.1 Company Profiles
    7.1.1 ABB (Asea Brown Boveri) Group
    7.1.2 Cognex Corporation
    7.1.3 Siemens AG
    7.1.4 Schnieder Electric SE
    7.1.5 Yokogawa Electric Corporation
    7.1.6 Swisslog Holding Ag (Kuka AG)
    7.1.7 Rockwell Automation Inc.
    7.1.8 Honeywell International Inc.
    7.1.9 Robert Bosch GmbH
    7.1.10 Atos SE
    7.1.11 Johnson Controls Inc.
    7.1.12 Emerson Electric Company



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