Allied Market Research

2024

Smart Factory Market

Smart Factory Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (Hardware, Software, Services), by Product Type (Machine Vision Systems, Industrial Robotics, Control Devices, Industrial Sensors, Communication Technologies, Others), by Industry Vertical (Process Industries, Discrete Industries) and by Solution Types (Enterprise Resource Planning, Product Lifecycle Management, Human Machine Interface, Manufacturing Execution System, Distributed Control System, Programmable Logic Controller, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Vineet Kumar
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Smart Factory Market Statistics: 

The factors that are driving the growth of the Smart Factory market are the rising practice for advanced base for manufacturing, increased focus on energy consumption and improved efficiency of manufacturing. However, the factors that are hampering the growth of the market are lack of interoperability & standardization and the shortage of trained workers. Rising industry of refurbished robots and untapped field such as industrial robots and RFID are expected to create lot of opportunities for the growth of the smart factory market.

Smart factory is the advanced factory that has cyber-physical systems where materials can be moved efficiently across the factory floor. This advanced system has integrated computing codes that provides automation solution. This automation can be deployed within 60 days in order to streamline and track the materials flow through the facility of manufacturing. Smart factory provides data models and factory- specific & MES templates for rapid use. The use of smart factory boosts the quality & productivity and cuts down the operational cost as compared to traditional production systems.
Smart Factory by Technology Market Analysis

Smart Factory Market

Smart factory technology market is segmented into information technology system, enterprise resource planning (ERP), manufacturing execution system and industrial control system. Enterprise resource planning (ERP) is the largest revenue generating segment due to the usage of software applications to embody the processes and products, relationships between activities & functions, procedures and information flow.

Smart Factory by Field Devices Market Analysis

Smart factory field devices market is segmented into industrial robotics, articulated robot, control devices and industrial network. Industrial Robotics is further segmented into articulated robot, cylindrical robot, scara robot and cartesian robot. Control Devices is further segmented into sensors, relays & switches and motors & drive. Industrial Network is also sub-segmented into RFID System (Chipless RFID and Chip-Based RFID), Wireless Network (Chipsets, Microprocessor System and Sensors) and Wired Network. Industrial Network is the largest revenue generating segment due to differentiated products for various purposes. 

Smart Factory by Application Market Analysis

Smart factory application market is segmented into process industry and discrete industry. Process Industry is further segmented into pharmaceuticals, food & beverages, chemical and oil & gas. Discrete Industry is sub-segmented into automotive & transportation, packaging and mining, minerals & metals. Discrete industry is the largest revenue generating segment due to the rising demand for Smart Factory from automotive industry.

Smart Factory Geography Market Analysis

Geographically, smart factory market is segmented into North America, Europe, Asia Pacific and RoW. Asia Pacific followed by North America is the largest revenue-generating segment due to its increasing adoption of Smart Factory in the automotive industry.

Competitive Landscape

The key strategies adopted by the companies to expand in the smart factory market are product launches, mergers & acquisitions and agreements & collaborations. These strategies would provide efficient products and yield strongly performing products that support the market regulations and finally, exhibit better customer satisfaction. The companies profiled in this report are Ubisense Group PLC., System Insights, Inc., Operator System, Mitsubishi Electric Corporation, Microsoft, Johnson Controls, Inc., Invensys PLC., General Electric Co., CMC Associates, and Apriso Corporation. 

High Level Analysis

The report analyzes various macro environments of the Smart Factory market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products smart factory market and threat of substitute is low due to unavailability of alternate products.

Key Benefits

  • Analysis of the smart factory market on the basis of various segments is expounded in the report, and segmental analysis is done to identify the largest revenue generating segment
  • To study the various factors that are enhancing and restraining the growth of the smart factory market that would help the market players in deeply understanding the market
  • Study of SWOT and analysis of the captivating strategies adopted by the players in the market is conducted, which would help in assisting the stakeholders to take actionable decisions
  • Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market are expounded in the report; thus, help stakeholders analyze the market
  • To find out the recent trends of the smart factory market and opportunities that would open doors for the investors to participate in the market, which in turn would help in the enlargement and expansion of marke

Smart Factory Market Report Highlights

Aspects Details
Smart Factory Market By Component
By Component
  • Hardware
  • Software
  • Services
Smart Factory Market By Product Type
By Product Type
  • Machine Vision Systems
  • Industrial Robotics
  • Control Devices
  • Industrial Sensors
  • Communication Technologies
  • Others
Smart Factory Market By Industry Vertical
By Industry Vertical
  • Process Industries
    • Food and Beverages
    • Mining
    • Others
    • Oil and Gas
    • Chemicals
    • Pharmaceuticals
    • Energy and Power
  • Discrete Industries
    • Automotive
    • Aerospace and Defense
    • Semiconductor and Electronics
    • Machine Manufacturing
    • consumer goods and consumer electronics
    • Others
Smart Factory Market By Solution Types
By Solution Types
  • Enterprise Resource Planning
  • Product Lifecycle Management
  • Human Machine Interface
  • Manufacturing Execution System
  • Distributed Control System
  • Programmable Logic Controller
  • Others
Smart Factory Market By Region
By Region
  • North America  (UNITED STATES, CANADA)
  • Europe  (FRANCE, GERMANY, ITALY, SPAIN, UNITED KINGDOM, Rest of Europe)
  • Asia-Pacific  (CHINA, JAPAN, INDIA, SOUTH KOREA, AUSTRALIA, Rest of Asia Pacific)
  • LAMEA  (UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

GE Digital, ABB, Siemens, Honeywell International, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Mitsubishi Electric Corporation, Omron Corporation, Emerson Electric

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Smart Factory Market

Global Opportunity Analysis and Industry Forecast, 2023-2032