Smart Factory Trends and Forecast
The future of the global smart factory market looks promising with opportunities in the automotive, semiconductors, oil and gas, chemical, pharmaceutical, aerospace and defense, food and beverage, and mining markets. The global smart factory market is expected to reach an estimated $215.7 billion by 2030 with a CAGR of 9.5% from 2024 to 2030. The major drivers for this market are rising demand for industrial robots and growing adoption of IoT and artificial intelligence in industrial market.A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Smart Factory by Segment
The study includes a forecast for the global smart factory by type, technology, end use industry, and region.Smart Factory Market by Type [Shipment Analysis by Value from 2018 to 2030]:
- Machine Vision Systems
- Industrial Robotics
- Control Devices
- Sensors
- Communication Technologies
- Others
Smart Factory Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
- Product Lifecycle Management
- Human Machine Interface
- Enterprise Resource Planning
- Manufacturing Execution Systems
- Distributed Control Systems
- Supervisory Controller and Data Acquisition
- Programmable Logic Controller
Smart Factory Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
- Automotive
- Semiconductors
- Oil and Gas
- Chemical
- Pharmaceutical
- Aerospace and Defense
- Food and Beverage
- Mining
- Others
Smart Factory Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Smart Factory Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart factory companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart factory companies profiled in this report include-- ABB
- Siemens
- General Electric
- Rockwell Automation
- Schneider Electric
- Honeywell International
- Emerson Electric
Smart Factory Market Insights
The publisher forecasts that programmable logic controller is expected to witness highest growth over the forecast period due to its increasing demand from semiconductor, automotive, and food and beverage industries.Within this market, automotive will remain the largest segment due to the growing demand for complex and demanding manufacturing processes in this industry.
APAC will remain the largest region due to the rapid economic growth, increasing urbanization, and growing demand for e-commerce platforms in the region.
Features of the Global Smart Factory Market
- Market Size Estimates: Smart factory market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Smart factory market size by type, technology, end use industry, and region in terms of value ($B).
- Regional Analysis: Smart factory market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different types, technologies, end use industries, and regions for the smart factory market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the smart factory market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the smart factory market size?Answer: The global smart factory market is expected to reach an estimated $215.7 billion by 2030.
Q.2 What is the growth forecast for smart factory market?
Answer: The global smart factory market is expected to grow with a CAGR of 9.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the smart factory market?
Answer: The major drivers for this market are rising demand for industrial robots and growing adoption of IoT and artificial intelligence in industrial market.
Q4. What are the major segments for smart factory market?
Answer: The future of the smart factory market looks promising with opportunities in the automotive, semiconductors, oil and gas, chemical, pharmaceutical, aerospace and defense, food and beverage, and mining markets.
Q5. Who are the key smart factory market companies?
Answer: Some of the key smart factory companies are as follows:
- ABB
- Siemens
- General Electric
- Rockwell Automation
- Schneider Electric
- Honeywell International
- Emerson Electric
Answer: The publisher forecasts that programmable logic controller is expected to witness highest growth over the forecast period due to its increasing demand from semiconductor, automotive, and food and beverage industries.
Q7. In smart factory market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to the rapid economic growth, increasing urbanization, and growing demand for e-commerce platforms in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the smart factory market by type (machine vision systems, industrial robotics, control devices, sensors, communication technologies, and others), technology (product lifecycle management, human machine interface, enterprise resource planning, manufacturing execution systems, distributed control systems, supervisory controller and data acquisition, and programmable logic controller), end use industry (automotive, semiconductors, oil and gas, chemical, pharmaceutical, aerospace and defense, food and beverage, mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Smart Factory Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB
- Siemens
- General Electric
- Rockwell Automation
- Schneider Electric
- Honeywell International
- Emerson Electric
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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