Smart Factory Market Overview

The report is titled ‘Smart Factory Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the Smart Factory market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The Smart Factory market is expected to grow at a significant rate in the near future.

The smart factory market size was valued at US$ 78.4 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2020 to 2028.

Smart Factory Market Definition

The idea of smart factories refers to enunciating the ultimate target of digitisation in the field of manufacturing. In the manner the term is most frequently used, a smart factory can be understood as the greatly digitized shop ground that constantly accumulates and exchanges data via connected devices, machines, and production systems. The data can further be employed by self-optimizing devices or across the organization to preemptively handle issues, enhance manufacturing procedures and retort to new demands.

The smart factory consists of several different technologies such as Big Data Analytics, Artificial Intelligence, Industrial IoT (IioT), and Cloud Computing which have made smart manufacturing practices entirely broad and complete.

Smart Factory Market Dynamics

In the present day and age, the Fourth Industrial Revolution is the on-going progressive trend of automation of conventional industrial and manufacturing practices, employing advanced smart technology, such as AI and IoT which is majorly accelerating the idea of smart factories across the global markets. Owing to which, the global smart factory market is projected to grow substantially in the years to come.

In addition to that, the advanced technologies involved in the concept of smart factories, like big data analytics, artificial intelligence, and cloud computing enhances the production quality as well as asset efficiency to a huge level. Also, it eliminates machine and human errors, which is further estimated to accelerate the growth of the global smart factory market over the forecast period.

Smart Factory Market Segmentation

The smart factory market is segmented on the basis of component, solution, industry, and region.

By Component

Industrial Sensors

Industrial Robots

Industrial 3D Printers

Machine Vision Systems

By Solution

SCADA

PAM

MES

Industrial Safety

By Industry

Process Industries

Oil & Gas

Chemicals

Pharmaceuticals

Energy & Power

Metals & Mining

Pulp & Paper

Food & Beverages

Others

Discrete Industries

Automotive

Aerospace & Defense

Semiconductor & Electronics

Machine Manufacturing

Medical Devices

Others

By Region

North America

Latin America

Europe

Africa

Middle East

Asia Pacific

Smart Factory Market Key Players

The key participating players of the global Smart Factory market include ABB Ltd., Endress+Hauser AG, Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., and Yokogawa Electric Corp., among others.

MMC Overview on Smart Factory Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.

A research report on the Smart Factory market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product designs and launches

Current product compliance

Reimbursement

Concerns for use of Smart Factory

Advantages of Smart Factory

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Smart Factory Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Smart Factory Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Smart Factory Market Snapshot

2.4.    Global Smart Factory Market Size And Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Smart Factory Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Porter’s Five Forces Model

2.7.    SWOT Analysis

3.    Smart Factory Assessment and Analysis

3.1.    Smart Factory Impact Analysis 

3.2.    Actions to encourage use of Smart Factory

3.3.    Smart Factory Promotional Strategy Recommendation

3.4.    Road Map Analysis

3.5.    GAP Analysis

3.6.    Potential Analysis

4.    Covid-19 Impact on Smart Factory Market

5.    Global Smart Factory Market, By Component

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Component

5.1.2.    BPS Analysis, By Component

5.2.    Market Revenue (US$Mn) and Forecast, By Component

5.2.1.    Industrial Sensors

5.2.2.    Industrial Robots

5.2.3.    Industrial 3D Printers

5.2.4.    Machine Vision Systems

5.3.    Global Smart Factory Market Attractiveness Index, By Component

6.    Global Smart Factory Market, By Solution

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Solution

6.1.2.    BPS Analysis, By Solution

6.2.    Market Revenue (US$Mn) and Forecast, By Solution

6.2.1.    SCADA

6.2.2.    PAM

6.2.3.    MES

6.2.4.    Industrial Safety

6.3.    Global Smart Factory Market Attractiveness Index, By Solution

7.    Global Smart Factory Market, By Industry

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Industry

7.1.2.    BPS Analysis, By Industry

7.2.    Market Revenue (US$Mn) and Forecast, By Industry

7.2.1.    Process Industries

7.2.1.1.    Oil & Gas

7.2.1.2.    Chemicals

7.2.1.3.    Pharmaceuticals

7.2.1.4.    Energy & Power

7.2.1.5.    Metals & Mining

7.2.1.6.    Pulp & Paper

7.2.1.7.    Food & Beverages

7.2.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

7.2.2.    Discrete Industries

7.2.2.1.    Automotive

7.2.2.2.    Aerospace & Defence

7.2.2.3.    Semiconductor & Electronics

7.2.2.4.    Machine Manufacturing

7.2.2.5.    Medical Devices

7.2.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

7.3.    Global Smart Factory Market Attractiveness Index, By Industry

8.    Global Smart Factory Market, By Region

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By Region

8.1.2.    BPS Analysis, By Region

8.2.    Market Revenue (US$Mn) and Forecast, By Region

8.2.1.    North America

8.2.2.    Latin America

8.2.3.    Europe

8.2.4.    Asia Pacific

8.2.5.    Middle East 

8.2.6.    Africa

8.3.    Global Smart Factory Market Attractiveness Index, By Region

9.    North America Smart Factory Market Analysis and Forecast, 2020–2028

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Country

9.1.2.    BPS Analysis, By Country

9.2.    Market Revenue (US$Mn) and Forecast, By Country

9.2.1.    U.S. Smart Factory Market

9.2.2.    Canada Smart Factory Market

9.3.    North America Smart Factory Market, By Component

9.3.1.    Industrial Sensors

9.3.2.    Industrial Robots

9.3.3.    Industrial 3D Printers

9.3.4.    Machine Vision Systems

9.4.    North America Smart Factory Market, By Solution

9.4.1.    SCADA

9.4.2.    PAM

9.4.3.    MES

9.4.4.    Industrial Safety

9.5.    North America Smart Factory Market, By Industry

9.5.1.    Process Industries

9.5.1.1.    Oil & Gas

9.5.1.2.    Chemicals

9.5.1.3.    Pharmaceuticals

9.5.1.4.    Energy & Power

9.5.1.5.    Metals & Mining

9.5.1.6.    Pulp & Paper

9.5.1.7.    Food & Beverages

9.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

9.5.2.    Discrete Industries

9.5.2.1.    Automotive

9.5.2.2.    Aerospace & Defence

9.5.2.3.    Semiconductor & Electronics

9.5.2.4.    Machine Manufacturing

9.5.2.5.    Medical Devices

9.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

9.6.    North America Smart Factory Market Attractiveness Index

9.6.1.    By Country

9.6.2.    By Component

9.6.3.    By Solution

9.6.4.    By Industry

10.    Latin America Smart Factory Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market (US$Mn) Forecast, By Country

10.2.1.    Brazil Smart Factory Market

10.2.2.    Mexico Smart Factory Market

10.2.3.    Rest Of Latin America Smart Factory Market

10.3.    Latin America Smart Factory Market, By Component

10.3.1.    Industrial Sensors

10.3.2.    Industrial Robots

10.3.3.    Industrial 3D Printers

10.3.4.    Machine Vision Systems

10.4.    Latin America Smart Factory Market, By Solution

10.4.1.    SCADA

10.4.2.    PAM

10.4.3.    MES

10.4.4.    Industrial Safety

10.5.    Latin America Smart Factory Market, By Industry

10.5.1.    Process Industries

10.5.1.1.    Oil & Gas

10.5.1.2.    Chemicals

10.5.1.3.    Pharmaceuticals

10.5.1.4.    Energy & Power

10.5.1.5.    Metals & Mining

10.5.1.6.    Pulp & Paper

10.5.1.7.    Food & Beverages

10.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

10.5.2.    Discrete Industries

10.5.2.1.    Automotive

10.5.2.2.    Aerospace & Defence

10.5.2.3.    Semiconductor & Electronics

10.5.2.4.    Machine Manufacturing

10.5.2.5.    Medical Devices

10.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

10.6.    Latin America Smart Factory Market Attractiveness Index

10.6.1.    By Country

10.6.2.    By Component

10.6.3.    By Solution

10.6.4.    By Industry

11.    Europe Smart Factory Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    U.K. Smart Factory Market

11.2.2.    Germany Smart Factory Market

11.2.3.    Italy Smart Factory Market

11.2.4.    France Smart Factory Market

11.2.5.    Spain Smart Factory Market

11.2.6.    Russia Smart Factory Market

11.2.7.    Rest Of Europe Smart Factory Market

11.3.    Europe Smart Factory Market, By Component

11.3.1.    Industrial Sensors

11.3.2.    Industrial Robots

11.3.3.    Industrial 3D Printers

11.3.4.    Machine Vision Systems

11.4.    Europe Smart Factory Market, By Solution

11.4.1.    SCADA

11.4.2.    PAM

11.4.3.    MES

11.4.4.    Industrial Safety

11.5.    Europe Smart Factory Market, By Industry

11.5.1.    Process Industries

11.5.1.1.    Oil & Gas

11.5.1.2.    Chemicals

11.5.1.3.    Pharmaceuticals

11.5.1.4.    Energy & Power

11.5.1.5.    Metals & Mining

11.5.1.6.    Pulp & Paper

11.5.1.7.    Food & Beverages

11.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

11.5.2.    Discrete Industries

11.5.2.1.    Automotive

11.5.2.2.    Aerospace & Defence

11.5.2.3.    Semiconductor & Electronics

11.5.2.4.    Machine Manufacturing

11.5.2.5.    Medical Devices

11.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

11.6.    Europe Smart Factory Market Attractiveness Index

11.6.1.    By Country

11.6.2.    By Component

11.6.3.    By Solution

11.6.4.    By Industry

12.    Asia Pacific Smart Factory Market Analysis and Forecast, 2020–2028

12.1.    Introduction

12.1.1.    Annual Growth Rate Comparison, By Country

12.1.2.    BPS Analysis, By Country

12.2.    Market (US$Mn) Forecast, By Country

12.2.1.    China Smart Factory Market

12.2.2.    India Smart Factory Market

12.2.3.    Japan Smart Factory Market

12.2.4.    Australia and New Zealand Smart Factory Market

12.2.5.    South Korea Smart Factory Market

12.2.6.    Rest of Asia Pacific Smart Factory Market

12.3.    Asia Pacific Smart Factory Market, By Component

12.3.1.    Industrial Sensors

12.3.2.    Industrial Robots

12.3.3.    Industrial 3D Printers

12.3.4.    Machine Vision Systems

12.4.    Asia Pacific Smart Factory Market, By Solution

12.4.1.    SCADA

12.4.2.    PAM

12.4.3.    MES

12.4.4.    Industrial Safety

12.5.    Asia Pacific Smart Factory Market, By Industry

12.5.1.    Process Industries

12.5.1.1.    Oil & Gas

12.5.1.2.    Chemicals

12.5.1.3.    Pharmaceuticals

12.5.1.4.    Energy & Power

12.5.1.5.    Metals & Mining

12.5.1.6.    Pulp & Paper

12.5.1.7.    Food & Beverages

12.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

12.5.2.    Discrete Industries

12.5.2.1.    Automotive

12.5.2.2.    Aerospace & Defence

12.5.2.3.    Semiconductor & Electronics

12.5.2.4.    Machine Manufacturing

12.5.2.5.    Medical Devices

12.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

12.6.    Asia Pacific Smart Factory Market Attractiveness Index

12.6.1.    By Country

12.6.2.    By Component

12.6.3.    By Solution

12.6.4.    By Industry

13.    Middle East Smart Factory Market Analysis and Forecast, 2020–2028

13.1.    Introduction

13.1.1.    Annual Growth Rate Comparison, By Country

13.1.2.    BPS Analysis, By Country

13.2.    Market (US$Mn) Forecast, By Country

13.2.1.    GCC Countries Smart Factory Market

13.2.2.    Israel Smart Factory Market

13.2.3.    Rest Of Middle East Smart Factory Market

13.3.    Middle East Smart Factory Market, By Component

13.3.1.    Industrial Sensors

13.3.2.    Industrial Robots

13.3.3.    Industrial 3D Printers

13.3.4.    Machine Vision Systems

13.4.    Middle East Smart Factory Market, By Solution

13.4.1.    SCADA

13.4.2.    PAM

13.4.3.    MES

13.4.4.    Industrial Safety

13.5.    Middle East Smart Factory Market, By Industry

13.5.1.    Process Industries

13.5.1.1.    Oil & Gas

13.5.1.2.    Chemicals

13.5.1.3.    Pharmaceuticals

13.5.1.4.    Energy & Power

13.5.1.5.    Metals & Mining

13.5.1.6.    Pulp & Paper

13.5.1.7.    Food & Beverages

13.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

13.5.2.    Discrete Industries

13.5.2.1.    Automotive

13.5.2.2.    Aerospace & Defence

13.5.2.3.    Semiconductor & Electronics

13.5.2.4.    Machine Manufacturing

13.5.2.5.    Medical Devices

13.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

13.6.    Middle East Smart Factory Market Attractiveness Index

13.6.1.    By Country

13.6.2.    By Component

13.6.3.    By Solution

13.6.4.    By Industry

14.    Africa Smart Factory Market Analysis and Forecast, 2020–2028

14.1.    Introduction

14.1.1.    Annual Growth Rate Comparison, By Country

14.1.2.    BPS Analysis, By Country

14.2.    Market (US$Mn) Forecast, By Country

14.2.1.    South Africa Countries Smart Factory Market

14.2.2.    Egypt Smart Factory Market

14.2.3.    North Africa Smart Factory Market

14.2.4.    Rest of Africa Smart Factory Market

14.3.    Africa Smart Factory Market, By Component

14.3.1.    Industrial Sensors

14.3.2.    Industrial Robots

14.3.3.    Industrial 3D Printers

14.3.4.    Machine Vision Systems

14.4.    Africa Smart Factory Market, By Solution

14.4.1.    SCADA

14.4.2.    PAM

14.4.3.    MES

14.4.4.    Industrial Safety

14.5.    Africa Smart Factory Market, By Industry

14.5.1.    Process Industries

14.5.1.1.    Oil & Gas

14.5.1.2.    Chemicals

14.5.1.3.    Pharmaceuticals

14.5.1.4.    Energy & Power

14.5.1.5.    Metals & Mining

14.5.1.6.    Pulp & Paper

14.5.1.7.    Food & Beverages

14.5.1.8.    Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)

14.5.2.    Discrete Industries

14.5.2.1.    Automotive

14.5.2.2.    Aerospace & Defence

14.5.2.3.    Semiconductor & Electronics

14.5.2.4.    Machine Manufacturing

14.5.2.5.    Medical Devices

14.5.2.6.    Others (printing, packaging, consumer goods & consumer electronics, jewellery, solar panel manufacturing, and textile)

14.6.    Africa Smart Factory Market Attractiveness Index

14.6.1.    By Country

14.6.2.    By Component

14.6.3.    By Solution

14.6.4.    By Industry

15.    Competitive Landscape

15.1.    Company Profiles

15.1.1.    ABB Ltd.

15.1.1.1.    Company Overview

15.1.1.2.    Financial Overview

15.1.1.3.    Key Developments

15.1.1.4.    Strategies

15.1.1.5.    Product Analysis

15.1.2.    Endress+Hauser AG

15.1.3.    Emerson Electric Co.

15.1.4.    General Electric

15.1.5.    Rockwell Automation, Inc.

15.1.6.    Schneider Electric SE

15.1.7.    Siemens AG

15.1.8.    Mitsubishi Electric Corp.

15.1.9.    Honeywell International Inc.

15.1.10.    Yokogawa Electric Corp.

16.    Acronyms