Witnessing stupendous growth in the recent past, smart factory projects have been performing well on the back of rising adoption of analytics and cyber security tools. The global smart factory market value surpassed US$ 95 Bn in 2019. A new Future Market Insights (FMI) study has projected a solid double-digit growth for the market during forecast period, 2020 – 2030.

The report presents an in-depth analysis of key growth drivers and trends that are likely to impact the market in upcoming years. With the adoption of cloud computing and artificial intelligence, the technology industry is expected to witness a healthy growth over the forecast period. Increasing competitive pressure and advanced digital transformation in the area of data analytics and artificial intelligence are likely to improve the growth outlook for the Smart Factory market in the upcoming decade.

According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the Smart Factory market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the Smart Factory market report and gather data from a wide range of primary and secondary sources.

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Impact of COVID-19 on Smart Factory Market

With the onset of COVID-19, there has been a significant impact on the technology sector. Disruptions of electronic supply-value chain and raw material supply have adversely impacted the technology industry. However, there has been a positive impact on the industry with the adoption of remote working. Rapid focus on integrating digital techniques and big data analytics in IT services and technology industry are expected to result in a healthy outlook.

FMI’s recently published report has a chapter exclusively dedicated to COVID-19 impact analysis. This is intended to aid Smart Factory market stakeholders in deploying innovative strategies to overcome the challenges that are likely to affect the Smart Factory market.

Smart Factory Market: Competitive Analysis

The FMI’s Smart Factory market report provides a detailed analysis of prominent players as well as emerging companies operating in the Smart Factory market. Some of the key players are:

• ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation Inc., General Electric Company, Johnson Controls International PLC, Yokogawa Electric Corporation, Honeywell International Inc., SAP SE, Oracle Corporation, IBM Corporation, Cisco Systems Inc., Microsoft Corporation and Kollmorgen.

With an extensive SWOT analysis, the FMI’s study provides the strengths, weaknesses, growth prospects and product expansion within the players. The report also offers key players marketing strategies, recent mergers and acquisitions and pricing strategy to gain a competitive edge in the industry.

Smart Factory Market: Key Segmentation

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Japan
• Middle East & Africa

Incisive coverage of the regional markets offers deeper insights on the market performance across key regions along with relevant graphs, figures, and list of tables.

Solution

• Hardware
  • Sensors
  •  Industrial Robots
  •  Machine Vision Systems
  •  Industrial 3D Printing
• Software
  • Human Machine Interface
  •  Product Life Cycle Management
  •  Distributed Control System
  •  SCADA
  •  ERP
  •  Others
• Services
  • Integration & Deployment
  • Consulting
  • Support & Maintenance

End User

• Discrete Industry
• Process Industry

Industry Vertical

• Automotive
• Aerospace & Defense
• Electrical & Electronics
• Food & Beverages
• Energy & Utilities
• Healthcare & Pharmaceutical
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• Middle East & Africa

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Why Buy FMI’s Report?

• Extensive analysis on key trends and opportunities on the industries ongoing trends in different regions across the globe
• All-inclusive assessment on recent technological advancements and forecast of the upcoming decade
• A comparative analysis of leading players and emerging players in the Smart Factory market
• Reliable information on new product launches, organic and inorganic strategies, and more
• Valuable insights on the impact of regulatory framework on the global Smart Factory market

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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