Smart Factory Market Analysis and Forecast to 2031: By Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers and Machine Vision Systems), Solution (SCADA, PAM, MES and Industrial Safety), Industry (Process Industries and Discrete Industries), and Region

Smart factory is an industrial facility in which advanced technologies are used to increase efficiency and productivity. These technologies include data analytics, artificial intelligence, the Internet of Things, and 3D printing.

Smart factories are often thought of as the fourth industrial revolution, as they represent a significant departure from traditional manufacturing methods. In a smart factory, machines are connected and can communicate with each other to share data and optimize production. For example, if one machine is running low on a certain component, another machine can be alerted to produce more of that component.

Key Trends

There are four key trends in Smart Factory technology:

1. The increasing use of sensors and connectivity to collect data and improve decision-making
2. The use of artificial intelligence (AI) and machine learning to automate processes
3. The use of robotics and other advanced technologies to improve productivity
4. The trend towards more personalized and customized products

Key Drivers

The key drivers of Smart Factory market are:

1. The increasing need for operational efficiency: In the current business scenario, there is a growing need for organizations to optimize their operations and become more efficient. This has led to the increasing adoption of smart factory solutions as they help in reducing wastage, increasing productivity, and improving overall operational efficiency.

2. The need for better quality control: With the increasing competition, there is a need for organizations to produce products of high quality. Smart factory solutions help in achieving this by providing better quality control and monitoring capabilities.

3. The need for flexibility and customization: The traditional manufacturing process is often inflexible and does not allow for much customization. Smart factory solutions help in providing a more flexible manufacturing process which can be easily customized as per the specific requirements of the organization.

Restraints & Challenges

The smart factory is a new and evolving concept that is still in its early stages of development and deployment. There are a number of key restraints and challenges that need to be addressed in order for the smart factory to reach its full potential.

One of the key restraints is the lack of standards and interoperability between different smart factory systems. This lack of standards makes it difficult for different systems to communicate and exchange data with each other, which limits the potential of the smart factory.

Another key challenge is the high cost of investment required to implement a smart factory. The upfront costs can be significant, and there is also the need for ongoing investment in order to maintain and update the system.

Market Segments:

The Smart Factory Market is segmented by component, solution, industry and region. By component the market is divided into industrial sensors, industrial robots, industrial 3D printers and machine vision systems. Based on solution it is segmented into SCADA, PAM, MES and industrial safety. On the basis of industry it is bifurcated into process industries and discrete industries. Region wise the market is divided into North America, Europe, Asia-Pacific and Rest of the World.

Key Market Players:

The Smart Factory Market includes players such as 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.

Why GIS?

Table of Contents

Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques

Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market

Chapter 3. Smart Factory Market Outlook
3.1. Smart Factory Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Global Smart Factory Market

Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Global Smart Factory Market
4.3. Economic Impact Analysis

Chapter 5. Smart Factory Market by Component
5.1. Market Overview
5.2. Industrial Sensors
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Industrial Robots
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Industrial 3D Printers
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.5. Machine Vision Systems
5.5.1. Market Size and Forecast, 2021-2031 ($Million)
5.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 6. Smart Factory Market by Solution
6.1. Market Overview
6.2. SCADA
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. PAM
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. MES
6.4.1. Market Size and Forecast, 2021-2031 ($Million)
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.5. Industrial Safety
6.5.1. Market Size and Forecast, 2021-2031 ($Million)
6.5.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 7. Smart Factory Market by Industry
7.1. Market Overview
7.2. Process Industries
7.2.1. Market Size and Forecast, 2021-2031 ($Million)
7.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3. Discrete Industries
7.3.1. Market Size and Forecast, 2021-2031 ($Million)
7.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)

Chapter 8. Smart Factory Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.2.3. North America Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.2.4. North America Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.2.5. North America Smart Factory Market Size and Forecast by Country, 2021-2031, ($Million)
8.2.6. The U.S.
8.2.6.1. The U.S. Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.2.6.2. The U.S. Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.2.6.3. The U.S. Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.2.7. Canada
8.2.7.1. Canada Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.2.7.2. Canada Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.2.7.3. Canada Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.2.8. Mexico
8.2.8.1. Mexico Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.2.8.2. Mexico Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.2.8.3. Mexico Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.3. Europe Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.4. Europe Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.5. Europe Smart Factory Market Size and Forecast by Country, 2021-2031, ($Million)
8.3.6. Germany
8.3.6.1. Germany Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.6.2. Germany Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.6.3. Germany Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.7. France
8.3.7.1. France Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.7.2. France Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.7.3. France Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.8. U.K.
8.3.8.1. U.K. Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.8.2. U.K. Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.8.3. U.K. Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.9. Spain
8.3.9.1. Spain Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.9.2. Spain Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.9.3. Spain Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.10. Italy
8.3.10.1. Italy Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.10.2. Italy Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.10.3. Italy Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.3.11. Rest of Europe
8.3.11.1. Rest of Europe Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.3.11.2. Rest of Europe Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.3.11.3. Rest of Europe Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Smart Factory Market Size and Forecast by Country, 2021-2031, ($Million)
8.4.3. Asia-Pacific Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.4. Asia-Pacific Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.5. Asia-Pacific Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.4.6. China
8.4.6.1. China Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.6.2. China Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.6.3. China Smart Factory Market Size and Forecast by Product Application, 2021-2031, ($Million)
8.4.7. India
8.4.7.1. India Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.7.2. India Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.7.3. India Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.4.8. Japan
8.4.8.1. Japan Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.8.2. Japan Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.8.3. Japan Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.4.9. South Korea
8.4.9.1. South Korea Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.9.2. South Korea Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.9.3. South Korea Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.4.10. Rest of APAC
8.4.10.1. Rest of APAC Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.4.10.2. Rest of APAC Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.4.10.3. Rest of APAC Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.5.3. Rest of the World Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.5.4. Rest of the World Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.5.5. Rest of the World Smart Factory Market Size and Forecast by Country, 2021-2031, ($Million)
8.5.6. Latin America
8.5.6.1. Latin America Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.5.6.2. Latin America Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.5.6.3. Latin America Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.5.7. Middle East
8.5.7.1. Middle East Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.5.7.2. Middle East Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.5.7.3. Middle East Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.5.8. Africa
8.5.8.1. Africa Smart Factory Market Size and Forecast by Component, 2021-2031, ($Million)
8.5.8.2. Africa Smart Factory Market Size and Forecast by Solution, 2021-2031, ($Million)
8.5.8.3. Africa Smart Factory Market Size and Forecast by Industry, 2021-2031, ($Million)
8.5.8.4.
Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions

Chapter 10. Company Profiles
10.1. ABB Ltd
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Offerings
10.1.4. Key Strategic Initiatives
10.1.5. SWOT Analysis
10.2. Endress+Hauser AG
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. SWOT Analysis
10.3. Emerson Electric Co
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. SWOT Analysis
10.4. General Electric
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. SWOT Analysis
10.5. Rockwell Automation Inc
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. SWOT Analysis
10.6. Schneider Electric SE
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. SWOT Analysis
10.7. Siemens AG
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. SWOT Analysis
10.8. Mitsubishi Electric Corp
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. SWOT Analysis
10.9. Honeywell International Inc
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. SWOT Analysis
10.10. Yokogawa Electric Corp
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. SWOT Analysis

*The list of company is subject to change during the final compilation of the report

 

 

Key Market Players:
  • ABB Ltd
  • Endress+Hauser AG
  • Emerson Electric Co
  • General Electric
  • Rockwell Automation Inc
  • Schneider Electric SE
  • Siemens AG
  • Mitsubishi Electric Corp
  • Honeywell International Inc
  • Yokogawa Electric Corp
Market Segments:

By Component:

  • Industrial Sensors
  • Industrial Robots
  • Industrial 3D Printers
  • Machine Vision Systems

By Solution:

  • SCADA
  • PAM
  • MES
  • Industrial Safety

By Industry:

  • Process Industries
  • Discrete Industries

By Region:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Order this Report

Have questions about the scope of the report ?

Have specific requirements ?

Budget Constraints ?

Related Reports

Emergency Shutdown Systems (ESS) are safety-critical systems used…
Environmental test chambers are chambers used to test…
A UV curing system is a type of…
Advanced process control (APC) is a technology that…
A paint tester is a device that is…
Wireless occupancy sensors are devices that detect the…
\A pressure washer is a machine that increases…
A varactor diode is a semiconductor device that…
Motor Monitoring is the process of observing and…
Semiconductor Capital Equipment is a broad term used…