Industry Digitization and End-to-end Supply Chain Visibility to Drive the Market Growth
Digitization in industries allows for improved efficiency and optimum resource management. The definition of digitization of the industrial sector varies from industry to industry, depending on whether the focus is on connected systems or automation. IT & telecom and finance sectors have been the pioneers in adopting digitization in North America. However, manufacturing and processing industries have realized the potential of advanced technologies and deploying connected and smart systems. Digitization in the industries allows end-to-end visibility of industrial supply chain. Smart factory technologies constantly collect data from different equipment for performance monitoring. Smart factory systems, thus, allow easy data access of production volumes and operational data. This also enables companies to deploy advance data analysis tools to analyze and identify the flaws in the operation and rectify them to improve the overall efficiency.
Automotive to Dominate the Market by End User
The rapid development of the digital economy is changing consumer expectations and old business models are being adapted, changed and even scrapped as a result. In order to reclaim its leading position in production technologies, the American manufacturing industry has launched a digital transformation offensive. The United States and Canada produced 8,263,780 and 1,568,214 commercial vehicles respectively, in 2016, where the output level is expected to increase further during the forecast period. The automotive industry is dominated by three major manufacturers, namely General Motors, Ford, and Chrysler. The automotive sector is, however, on the edge of dramatic change. Constant technological advancements are creating a host of opportunities that allow innovations and the development of safer, cleaner, and more efficient vehicles.
US Dominates the Smart Factory Market in North America
The United States is on the verge of the fourth industrial revolution, where data is being used on a large-scale for production while integrating the data with a wide variety of manufacturing systems throughout the supply chain. The United States is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. The automotive manufacturing has been one of the largest revenue generators for the country in the manufacturing sector. Manufacturing industries from the United States are shifting their base to Mexico, due to the huge availability of inexpensive labor. This shift is expected to pose a major challenge for the US market. Hence, there is a need to come up with innovative technologies for reducing the costs, which can be achieved by implementing smart factory solutions to reduce human intervention.
- November 2017: Yokogawa Electric Corporation announced Synaptic Business Automation, a new industrial automation and control business concept that expresses the company’s commitment to working with its customers to sustain its creation of corporate value.
- August 2017: Honeywell acquired Nextnine Ltd, a global provider of industrial cybersecurity solutions. The business will be integrated into Honeywell’s Industrial Cybersecurity group and will significantly strengthen Honeywell’s capability to offer multi-vendor, multi-site secure remote access, monitoring and support to protect industrial control systems and critical infrastructure against a growing threat of cyber-attacks.
Reasons to Purchase this Report
- Analysis of how the market scenario of smart factory is changing
- Analyze various perspectives of the market with the help of Porter’s five forces analysis.
- The security technology, services, and vertical that are expected to dominate the market.
- The regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in excel).
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1.1 Scope of the Study
1.2 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Porter's Five Forces Analysis
4. Market Dynamics
4.2 Market Drivers
4.2.1 Growing Adoption of Internet of Things (IoT) in Industrial sSector
4.2.2 Industry Digitization and End-to-end Supply Chain Visibility
4.2.3 Rising Demand for Energy Efficiency
4.3 Market Restraints
4.3.1 Huge Capital Investments for Transformations
4.3.2 Vulnerable to Cyber Attacks
4.4 Industry Value Chain
5. Market Segmentation
5.1 By Porduct
5.1.1 Machine Vision Systems
22.214.171.124 Frame Grabbers
126.96.36.199 Integration Services
5.1.2 Industrial Robotics
188.8.131.52 Articulated Robots
184.108.40.206 Cartesian Robots
220.127.116.11 Cylindrical Robots
18.104.22.168 SCARA Robots
22.214.171.124 Parallel Robots
126.96.36.199 Collaborative Industry Robots
5.1.3 Control Devices
188.8.131.52 Relays and Switches
184.108.40.206 Servo Motors and Drives
5.1.5 Communication Technologies
5.2 By Technology
5.3 By End User
5.3.3 Oil & Gas
5.3.4 Chemical & Petrochemical
5.3.6 Aerospace & Defense
5.3.7 Food & Beverage
5.4 By Geography
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
5.4.4 Latin America
5.4.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
6. Competitive Intelligence - Key vendor Profiles
6.1 ABB (ASEA BROWN BOVERI) Group
6.2 Cognex Corporation
6.3 Siemens AG
6.4 Schneider Electric SE
6.5 Yokogawa Electric Corporation
6.6 Swisslog Holding AG
6.7 Rockwell Automation Inc.
6.8 Honeywell International Inc
6.9 Robert Bosch GmbH
6.10 Atos SE
6.11 Johnson Controls Inc.
6.12 Emerson Electric Company
7. Investment Analysis
8. Future of the Smart Factory Market
- ABB Group
- Cognex Corporation
- Siemens AG
- Schneider Electric SE
- Yokogawa Electric Corporation
- SwISSlog Holding AG
- Rockwell Automation Inc
- Honeywell International Inc
- Robert Bosch GmbH
- Atos SE
- Johnson Controls Inc
- Emerson Electric Company