Smart Factory Market Overview
Smart factories have gained appeal in recent years, due to a surge in the implementation of intelligent technologies in many industries such as energy, mining, manufacturing, and petrochemicals. The global Smart Factory market is projected to rise at a significant rate in the next few years.
A combination of manufacturing and technology improvements can be seen in the increased usage of high-tech tools and machines. Furthermore, the industrial transition toward the cyber world is ensuring informed manufacturing with zero faults and no time lags by connecting every component of the value chain. During the projected period, the factors mentioned above are expected to boost the smart factory market. Industrial automation solutions are available from a variety of companies for a variety of processes and discrete sectors. In addition, the intelligent platform of the business segment sells software and hardware technology platforms mostly through solution providers. The smart factory market is gaining traction as a result of these developments.
Smart factories help to increase production efficiency, improve product quality, and are environmentally friendly and energy-efficient. Therefore, the associated benefits are anticipated to boost the companies adopting smart factory techniques in the forecast period. Furthermore, a growing number of industries adopting refurbished robots coupled with untapped fields such as industrial robots and RFID is estimated to offer noteworthy opportunities in the global smart factory market.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Technology, Component, Industry, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | ABB Limited, Emerson Electric Co., Fanuc Corporation, General Electric Company, Honeywell International, Johnson Control International Plc, Mitsubishi Electric Corporation, Rockwell Automation, Schneider Electric, Yokogawa Electric. |
Covid-19 Impact on Smart Factory Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Smart Factory Market Segment Overview
According to Industry, Food & beverages is the most prominent segment in the global Smart Factory Market. The food and beverage industry's manufacturing processes are being transformed by the latest technological methods such as 3D food printing and machine vision. The major goal of all stakeholders engaged in the manufacturing and distribution chain is to provide high-quality products at cheap production, maintenance, and distribution costs. In the food and beverage industry, automation technologies provide design freedom, creative and integrated safety solutions, and modern software tools for regulating machine operations.
Smart Factory Market, By Technology
· Machine Learning
· Cloud Connectivity
· Big Data
· Internet of Things
· Artificial Intelligence
· Sensor Technology
· Others (Cyber security, etc.)
Smart Factory Market, By Component
· Software
· Hardware
Smart Factory Market, By Industry
- Discrete Industry
- Automotive
- Electronics
- Aerospace and Defense
- Others (Machinery, etc.)
- Process Industries
- Foods and Beverages
- Chemicals
- Pharmaceuticals
- Wood and Wood Products
- Metals
- Others (Plastic, Rubber, Textile, etc.)
Smart Factory Regional Overview
In terms of region, the Asia Pacific region is predicted to dominate the global smart factory market. The market is likely to be propelled by an increase in the use of automotive technologies and technological innovations in numerous sectors. Government regulations focusing on information integration and intellectualization are driving the smart factory market in the Asia Pacific. In China, several research institutions and organizations are collaborating to improve industrial processes. In addition to this, manufacturing sensors, robotics, machine vision systems, and wireless technologies are all being developed in Japan to create smart factories.
Smart Factory Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Smart Factory Market, Key Players
· ABB Limited
· Emerson Electric Co.
· Fanuc Corporation
· General Electric Company
· Honeywell International
· Johnson Control International Plc
· Mitsubishi Electric Corporation
· Rockwell Automation
· Schneider Electric
· Yokogawa Electric
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Smart Factory market?
Smart factories have gained appeal in recent years, due to a surge in the implementation of intelligent technologies in many industries such as energy, mining, manufacturing, and petrochemicals.
Q2. Which Segments are covered in the Smart Factory Market report?
Technology, Component, Industry, and Region these segments are covered in the Smart Factory market report.
Q3. Which segment is projected to hold the largest share in the Smart Factory Market?
The food & beverages segment is projected to hold the largest share in the Smart Factory Market
Q4. Which region holds the largest share in the Smart Factory market?
The Asia Pacific held the largest share in the global Smart Factory market.
Q5. Which are the prominent players in the Smart Factory Market?
ABB Limited, Emerson Electric Co., Fanuc Corporation, General Electric Company, Honeywell International, Johnson Control International Plc, Mitsubishi Electric Corporation, Rockwell Automation, Schneider Electric, Yokogawa Electric. are some key players in the Smart Factory Market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Smart Factory Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Technology
- 5.2.1. Machine Learning
- 5.2.2. Cloud Connectivity
- 5.2.3. Big Data
- 5.2.4. Internet of Things
- 5.2.5. Artificial Intelligence
- 5.2.6. Sensor Technology
- 5.2.7. Others (Cyber security, etc.)
- 5.3. Market Analysis, Insights and Forecast – By Component
- 5.3.1. Software
- 5.3.2. Hardware
- 5.4. Market Analysis, Insights and Forecast – By Industry
- 5.4.1. Discrete Industry
- 5.4.1.1. Automotive
- 5.4.1.2. Electronics
- 5.4.1.3. Aerospace and Defense
- 5.4.1.4. Others (Machinery, etc.)
- 5.4.2. Process Industries
- 5.4.2.1. Foods and Beverages
- 5.4.2.2. Chemicals
- 5.4.2.3. Pharmaceuticals
- 5.4.2.4. Wood and Wood Products
- 5.4.2.5. Metals
- 5.4.2.6. Others (Plastic, Rubber, Textile, etc.)
- 5.4.1. Discrete Industry
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Smart Factory Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Technology
- 6.2.1. Machine Learning
- 6.2.2. Cloud Connectivity
- 6.2.3. Big Data
- 6.2.4. Internet of Things
- 6.2.5. Artificial Intelligence
- 6.2.6. Sensor Technology
- 6.2.7. Others (Cyber security, etc.)
- 6.3. Market Analysis, Insights and Forecast – By Component
- 6.3.1. Software
- 6.3.2. Hardware
- 6.4. Market Analysis, Insights and Forecast – By Industry
- 6.4.1. Discrete Industry
- 6.4.1.1. Automotive
- 6.4.1.2. Electronics
- 6.4.1.3. Aerospace and Defense
- 6.4.1.4. Others (Machinery, etc.)
- 6.4.2. Process Industries
- 6.4.2.1. Foods and Beverages
- 6.4.2.2. Chemicals
- 6.4.2.3. Pharmaceuticals
- 6.4.2.4. Wood and Wood Products
- 6.4.2.5. Metals
- 6.4.2.6. Others (Plastic, Rubber, Textile, etc.)
- 6.4.1. Discrete Industry
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Smart Factory Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Technology
- 7.2.1. Machine Learning
- 7.2.2. Cloud Connectivity
- 7.2.3. Big Data
- 7.2.4. Internet of Things
- 7.2.5. Artificial Intelligence
- 7.2.6. Sensor Technology
- 7.2.7. Others (Cyber security, etc.)
- 7.3. Market Analysis, Insights and Forecast – By Component
- 7.3.1. Software
- 7.3.2. Hardware
- 7.4. Market Analysis, Insights and Forecast – By Industry
- 7.4.1. Discrete Industry
- 7.4.1.1. Automotive
- 7.4.1.2. Electronics
- 7.4.1.3. Aerospace and Defense
- 7.4.1.4. Others (Machinery, etc.)
- 7.4.2. Process Industries
- 7.4.2.1. Foods and Beverages
- 7.4.2.2. Chemicals
- 7.4.2.3. Pharmaceuticals
- 7.4.2.4. Wood and Wood Products
- 7.4.2.5. Metals
- 7.4.2.6. Others (Plastic, Rubber, Textile, etc.)
- 7.4.1. Discrete Industry
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Smart Factory Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Technology
- 8.2.1. Machine Learning
- 8.2.2. Cloud Connectivity
- 8.2.3. Big Data
- 8.2.4. Internet of Things
- 8.2.5. Artificial Intelligence
- 8.2.6. Sensor Technology
- 8.2.7. Others (Cyber security, etc.)
- 8.3. Market Analysis, Insights and Forecast – By Component
- 8.3.1. Software
- 8.3.2. Hardware
- 8.4. Market Analysis, Insights and Forecast – By Industry
- 8.4.1. Discrete Industry
- 8.4.1.1. Automotive
- 8.4.1.2. Electronics
- 8.4.1.3. Aerospace and Defense
- 8.4.1.4. Others (Machinery, etc.)
- 8.4.2. Process Industries
- 8.4.2.1. Foods and Beverages
- 8.4.2.2. Chemicals
- 8.4.2.3. Pharmaceuticals
- 8.4.2.4. Wood and Wood Products
- 8.4.2.5. Metals
- 8.4.2.6. Others (Plastic, Rubber, Textile, etc.)
- 8.4.1. Discrete Industry
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Smart Factory Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Technology
- 9.2.1. Machine Learning
- 9.2.2. Cloud Connectivity
- 9.2.3. Big Data
- 9.2.4. Internet of Things
- 9.2.5. Artificial Intelligence
- 9.2.6. Sensor Technology
- 9.2.7. Others (Cyber security, etc.)
- 9.3. Market Analysis, Insights and Forecast – By Component
- 9.3.1. Software
- 9.3.2. Hardware
- 9.4. Market Analysis, Insights and Forecast – By Industry
- 9.4.1. Discrete Industry
- 9.4.1.1. Automotive
- 9.4.1.2. Electronics
- 9.4.1.3. Aerospace and Defense
- 9.4.1.4. Others (Machinery, etc.)
- 9.4.2. Process Industries
- 9.4.2.1. Foods and Beverages
- 9.4.2.2. Chemicals
- 9.4.2.3. Pharmaceuticals
- 9.4.2.4. Wood and Wood Products
- 9.4.2.5. Metals
- 9.4.2.6. Others (Plastic, Rubber, Textile, etc.)
- 9.4.1. Discrete Industry
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. ABB Limited
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Emerson Electric Co.
- 10.6. Fanuc Corporation
- 10.7. General Electric Company
- 10.8. Honeywell International
- 10.9. Johnson Control International Plc
- 10.10. Mitsubishi Electric Corporation
- 10.11. Rockwell Automation
- 10.12. Schneider Electric
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
