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.
Last year, the company had already implemented the proposed vision to manufacture electric motors, wherein vehicle assembly takes place at a production station with automobile components being transported between stations by driverless systems that are controlled by smart IT control systems.
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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.
Rapid industrialization and technology developments transforming the global manufacturing sector have enabled smart factory market to emerge as a highly lucrative investment avenue over the forthcoming years. Several advancements in the field of automation, communications and computing power have turned intelligent manufacturing facilities into a feasible reality. Today, several manufacturers are looking to bring more efficiencies in production process while gaining the ability to supply a wider range of products to consumers, driving the expansion of smart factory market.
Manufacturers require their production lines and operational processes to be integrated as well as flexible to adapt and enable quick configuration changes to lessen lead times. This helps them to retain a competitive edge in a constantly evolving segment. Smart factories have the ability to address these needs without compromising on quality and safety, positioning the industry in a favorable spot to experience business growth. Not only is building smarter facilities by investing in Internet of Things (IoT) is a massive undertaking, it is also a key component in promoting efficient scalability in the era of Industry 4.0.
In terms of the regional spectrum, Europe is expected to retain its position as a lucrative market player over the projected period. In fact, Europe accounted for over $25 billion of the global smart factory market share in 2018. The region is home to a number of global automotive firms and according to the European Automobile Manufacturers Association, Europe automobile sector brings in over €90.3 billion in the form of trade surplus. Moreover, the industry is the biggest private investor for R&D in Europe, investing approximately €54 billion annually.
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With growing adoption of automation technologies in the food & beverage and automotive sectors, smart factories will undoubtedly become a common trend among large and medium enterprises in the imminent future. Global smart factory market share will exceed $155 billion in annual remunerations by 2025.
List of Charts & Figures from Smart Factory Market Report:
FIG. 1 Industry segmentation
FIG. 2 Smart factory market, 2015 – 2025 (USD Million)
FIG. 3 Industry ecosystem analysis
FIG. 4 Growth potential analysis
FIG. 5 Porter’s analysis
FIG. 6 Company market share analysis, 2018
FIG. 7 PESTEL analysis
FIG. 8 SWOT Analysis, ABB Ltd.
FIG. 9 SWOT Analysis, Atos SE
FIG. 10 SWOT Analysis, Cisco
FIG. 11 SWOT Analysis, Cognex Corporation
FIG. 12 SWOT Analysis, Emerson Electric Co.
FIG. 13 SWOT Analysis, FANUC
FIG. 14 SWOT Analysis, General Electric
FIG. 15 SWOT Analysis, Honeywell International
FIG. 16 SWOT Analysis, Hewlett Packard Enterprise
FIG. 17 SWOT Analysis, IBM
FIG. 18 SWOT Analysis, Johnson Controls Inc.
FIG. 19 SWOT Analysis, KUKA
FIG. 20 SWOT Analysis, Mitsubishi Electric
FIG. 21 SWOT Analysis, National Instruments
FIG. 22 SWOT Analysis, Omron
FIG. 23 SWOT Analysis, Oracle
FIG. 24 SWOT Analysis, PTC Inc.
FIG. 25 SWOT Analysis, Robert Bosch GmbH
FIG. 26 SWOT Analysis, Rockwell Automation
FIG. 27 SWOT Analysis, SAP SE
FIG. 28 SWOT Analysis, Schneider Electric
FIG. 29 SWOT Analysis, Siemens
FIG. 30 SWOT Analysis, TE Connectivity
FIG. 31 SWOT Analysis, Texas Instruments
FIG. 32 SWOT Analysis, Yokogawa Electric Corporation
Some Points From Table Of Content: –
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
5.6.1. Market estimates and forecast, 2015 – 2025
5.7. Others
5.7.1. Market estimates and forecast, 2015 – 2025
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