New demands are rising in the production processes in the manufacturing industry, in the areas of efficiency and flexibility. Smart factories help to achieve this by featuring an interconnected combination of emerging information & communication technologies and sophisticated production technologies. This integration connects all the individual steps in the production processes. All the major entities of the supply chain such as logistics, suppliers, and the product lifecycle management will be connected within the corporate boundaries. Owing to these intelligent and interconnected systems, and the use of robots to help the manufacturing businesses remain agile, smart factories are revolving rapidly.
The growing Internet of Things (IoT) within the industrial sector is the key driver of the smart factory market. Machine-to-machine (M2M) communication is the industrial Internet of Things. The digitization of the existing processes and the emerging technologies such as additive manufacturing, advanced robotics, digital manufacturing, distributed & cyber manufacturing, multi-scale processes, reconfigurable manufacturing systems, and real-time 3D machine vision are further fuelling the market growth. Other factors such as the end-to-end supply chain visibility and the rising demand for energy efficiency also play a role in the market growth.
Governmental organizations across the world have shown a keen interest in smart factories in light of the environmental policies involving energy efficient systems. The German government has proposed the Industrie 4.0 program as a symbol of the fourth industrial revolution, which is an integral part of the government's strategy with regard to the development of a technology that emphasizes the transition to smart manufacturing.
The massive need for capital to be able to replace the existing infrastructure is a major restraint to the market growth. The level of investment needed is beyond the private sector's capability and hence, public and private partnership is essential in order to support R&D efforts. Another major restraint to the smart factory market growth is the vulnerability to cyber risks. The centralization of information networks is a key concept of the smart factories and is also important for the reliance on connected devices by means of the Internet of Things, organizations might be vulnerable to cyber-attacks, which could either halt the production or result in faulty products. Implementing smart factories can change the skills and size of the workforce required and can sync them to the new model of manufacturing. This can be an obstacle for the existing workforce in the organization, eventually hindering the market growth.
The global smart factory market has been segmented based on products, technology, end-user industry and geography. On the basis of products, the market is segmented into machine vision systems (cameras, processors, software, enclosures, integration services, frame grabbers, lighting), industrial robotics (articulated, cartesian, cylindrical, polar, SACRA, delta, parallel, gantry, collaborative), control devices (relays & switches, motor and drives, industrial control systems, field devices, programmable controllers and others), sensors (proximity sensors, position sensors, pressure sensors, acceleration sensors), and communication technologies (wired and wireless technologies). Machine vision systems and industrial robotics hold the major share of the market. Within the machine vision systems, the vision cameras hold the major share and are expected to grow rapidly during the forecast period.
On the basis of technology, the market is segmented into production lifecycle management, human machine interface, enterprise resource planning, manufacturing execution system, distributed control system, supervisory control and data acquisition, programmable logic controller, and others. Distributed control systems hold the major share in the current market and SCADA is expected to register high growth rates. By the end-user industry, the smart factory market is segmented into automotive, manufacturing, chemical & petrochemical, oil & gas, pharmaceuticals, aerospace, defense, mining, and others. The chemical & petrochemical industry holds the major share (23%) of the current market and the oil & gas sector is expected to grow at a high CAGR.
A geographical coverage of the market suggests that North America holds the major share of the current market and the Asia-Pacific region is expected to grow at a high CAGR. The report also enlists the key market players along with their strategies.
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1.1 Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Internet of Things in Industrial Sector
4.2.2 Digitization and Emerging Manufacturing Technologies
4.2.3 End-to-End Supply Chain Visibility
4.2.4 Rising Demand for Energy Efficiency
4.3 Market Restraints
4.3.1 Huge Capital Investments for Transformations
4.3.2 Vulnerable to Cyber Risks
4.3.3 Changing Labor Requirements
4.4 Market Opportunities
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Model
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat from Substitute Product Types
4.6.5 Intensity of Competitive Rivalry
5. Global Smart Factory Market - Segmented by Products
5.1 Machine Vision Systems
220.127.116.11 Area Scan Cameras
18.104.22.168 Line Scan Cameras
22.214.171.124 Smart Cameras
126.96.36.199 High Speed Recording Cameras
188.8.131.52 3D Cameras
184.108.40.206 Others (Camera Accessories)
5.1.5 Frame Grabbers
5.1.6 Integration Services
5.2 Industrial Robotics
5.2.1 Articulated Robots
5.2.2 Cartesian Robots
5.2.3 Cylindrical Robots
5.2.4 Polar Robots
5.2.5 SCARA Robots
5.2.6 Delta Robots
5.2.7 Parallel Robots
5.2.8 Gantry Robots
5.2.9 Collaborative Industry Robots
5.3 Control Devices
5.3.1 Relays and Switches
5.3.2 Motor and Drives
5.3.3 Industrial Control Systems
5.3.4 Field Devices
5.3.5 Programmable Controllers
5.4.1 Proximity sensors
5.4.2 Position or Velocity sensors
5.4.3 Force or Pressure Sensors
5.4.4 Vibration or Acceleration Sensors
5.5 Communication Technologies
5.5.1 Wired technologies
5.5.2 Wireless technologies
6. Global Smart Factory Market - Segmented by Technology
6.1 Production Life Cycle (PLC) management
6.2 Human Machine Interface (HMI)
6.3 Enterprise Resource Planning (ERP)
6.4 Manufacturing Execution System (MES)
6.5 Distributed Control System (DCS)
6.6 Supervisory Control and Data Acquisition (SCADA)
6.7 Programmable Logic Controller (PLC)
7. Global Smart Factory Market - Segmented by End-User Industry
7.3 Electrical & Electronics
7.4 Oil and Gas
7.5 Chemical & Petrochemical
7.9 Food & Beverages
8. Global Smart Factory Market - Segmented by Geography
8.1 North America
8.4 Middle East and Africa
8.5 Latin America
9. Key Company Profiles
9.1 ABB Ltd.
9.2 Cognex Corporation
9.3 Siemens AG
9.4 Fanuc Corp.
9.5 General Electric Company
9.6 Schnieder Electric
9.7 Yokogawa Electric Corp.
9.8 Kuka Aktiengesellschaft
9.9 Schneider Electric
9.10 Rockwell Automation, Inc.
9.11 Honeywell International, Inc.
9.12 Robert Bosch GmbH
9.13 Atos SE
9.14 Johnson Controls, Inc.
9.15 Emerson Electric Company
10. Vendor Market Share
11. Investor Outlook
11.1 Investment Scenario
11.2 Recent Mergers & Acquisitions
12. Future of Smart Factory