Press release
Smart Factory Market Report Analysis 2022 by Size Grow at 10.5% CAGR with Share, Top Companies Data, Development Outlook, Competitive Landscape and Dynamic Innovations by 2029
The Global Smart Factory Market is forecast to reach above USD 160.1 billion by 2029 by rising at a compound annual growth rate (CAGR) of 10.5% throughout the forecast period from 2019 to 2029Smart Factory Market Overview
Rising demand for IoT and AI in industrial environments, a growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations, rising demand for industrial robots, and fiscal policies to keep manufacturing facilities afloat in the COVID-19 crisis are among the factors driving the market's growth.
Manufacturers are working on smart manufacturing and automation solutions to reduce costs and maximise revenue generation possibilities as technological proliferation increases. Demand for smart factory as a service is expected to rise as digitization and cloud technologies become more widespread.
The global Smart Factory market report widely offers the latest information about technological developments and market growth forecasts based on the regional landscape.
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Industry Development
Smart Factories: The future of the Aluminium industry
Smart factories or intelligent factories are the future of a sustainable world, and one of its most vital elements in this journey is the role of engineered aluminium. Having a different combination of modern technologies, a smart factory strives to create a hyper-flexible, self-adapting manufacturing capability to produce materials essential to human progress. It attempts to develop new forms of efficiency and flexibility by connecting different processes, information streams, and stakeholders in a streamlined fashion to build a better future - one where value-added aluminium products will play an even more significant role in creating engineering machines and solving challenges in a carbon-constrained world.
Research Methodology:
To calculate the market size, the report considers the revenue generated from the sales of Smart Factory market manufacturers. The revenue created from the sales of Smart Factory Market has been calculated through primary and secondary research.
The market size assessment also considered leading players revenues as part of triangulation the key players considered are ABB Ltd. (Switzerland), Endress Hauser AG (Switzerland), Emerson Electric Co. (US), General Electric (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), Honeywell International Inc and Others.
The Smart Factory Market has been segmented as below:
Smart Factory Market By Component, 2019-2028, (IN USD Billion)
Industrial Sensors
Industrial Robots
Industrial 3d Printers
Machine Vision Systems
Smart Factory Market By Solution, 2019-2028, (IN USD Billion)
Scada
PAM
MES
Industrial Safety
Smart Factory Market By Industry, 2019-2028, (IN USD Billion)
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
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Smart Factory Market: Regional Analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Smart Factory market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Geographically, the market is dominated by APAC, North America and Europe.
Major Key areas that have been focused on in the report:
Raw material supply analysis
Major trends noticed in the Global Smart Factory Market
Market Geographic limitations, and pricing issues
Distribution, scheduling, performance, and supplier requirements
Growth opportunities that may emerge in the industry in the upcoming years
In-depth value chain analysis
Sustainability trends and environmental concerns
Market Gap and Opportunities
Global Market Growth Drivers, Opportunities, and Constraints.
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