Global Smart Factory Market to Reach $214.2 Billion by 2026

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Future Market Insights has recently published a market research report on  Global Smart Factory market . The study presents a detailed analysis on the historical data, current and future market scenario for the Smart Factory market. The global Smart Factory market report is projected to witness a positive growth over the forecast period of 2021 and 2031. 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. To Get Sample Copy of Report visit @  https://www.futuremarketinsights.com/reports/sample/rep-gb-446
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 worldwide coronavirus (COVID-19) pandemic has triggered considerable downturn across industries, particularly smart factory market. Deployment of smart technologies could be beneficial in breaking the pattern of the virus. However, massive slowdown in the manufacturing sector, especially in Asia, has strained economic activities across various industrial domains. These factors are constantly putting pressure on smart factory market and would adversely affect the market supply chain. Key Takeaways of Smart Factory Market Study
Software demand will grow at a significant CAGR throughout the forecast period. Among software components, distributed control systems hold a leading market share as they are widely used in factories for monitoring and controlling various processes. Discrete industry remains key revenue generator in smart factory market and would maintain the trend through 2030.
Business partnerships help increase revenue, and new innovations in IT domain are enabling smart factory solution providers reach new potential customers, globally. Industry 4.0 and Technological Advancements Boost Adoption of Smart Technologies
Advantages such as cost efficiency and enhanced productivity have led to upsurge in adoption of smart factory technologies. In addition, technological advancements have diminished the boundaries between the digital (cyber) and physical factory infrastructure. Intelligent interconnected systems seamlessly support activities along the entire value chain in factories. Governments worldwide are promoting and supporting the Industry 4.0 revolution. Further, they are encouraging entrepreneurs and small & medium enterprises (SME) to create innovative products by using robotics, AI and big data analytics. A comprehensive view of the smart factory market reveals that the market is escalating at a significant rate owing to growing demand for real-time analytics to deliver personalized ads. Smart factory market in regions such as East Asia and Europe is anticipated to grow at high rates during the forecast period, owing to increased adoption of smart factory solutions and tools across various industries. Alliances with other providers, along with regional expansion, are some strategies opted by key players in these regions to fuel market growth. SMART FACTORY MARKET TAXONOMY
The global smart factory market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader. Solution

Smart Factory Market Growth Analysis, Strategies, Demands in After Coronavirus Lockdown Over The World

TechBullion
The smart factory market is expected to be valued at USD 309.67 billion in 2027 from USD 153.28 billion in 2019, registering a CAGR of 9.8% through the forecast period according to a recent report by Emergen Research. The growth of this market can be attributed to the growing adoption of smart technologies, including food & beverage, petrochemicals, mining, and manufacturing, across all major industries. The growth of the smart factory market is expected to be powered by increasing demand for energy efficiency and technological developments in sensors. The growing need for improved asset performance and output quality to reduce human & machine errors has increased the adoption of digitised solutions for supply chain management. The factors driving the demand for smart farming technologies are ensuring labour health, improving operating efficiencies, improving the quality of production processes, and reducing operational and manufacturing costs. Key Highlights From Report
In Stockholm, Sweden, in May 2019, ABB and the Vietnamese Ministry of Science and Technology (MoST) exchanged a Letter of Intent (LOI). In order to speed up the adoption of smart manufacturing in Vietnam, the LOI was shared. In 2019, the industrial robotics sub-segment held the largest market share of 36.9%. The growth of the segment is expected to be driven by the growing adoption of industrial robotics across all major industries, including manufacturing, petrochemicals, oil, automotive, food & beverages, and mining. With the highest CAGR of 11.6% in the forecast duration, the manufacturing execution system (MES) sub-segment is expected to register substantial growth. Real-time data analysis, the increasing need to monitor the business operations and movements & positions of the raw materials is expected to drive the growth of the production execution system (MES). Due to the growing adoption of industrial robots in the car manufacturing industry, the discrete industries sub-segment held the largest share in the smart factory market in 2019. Due to the presence of major market players, including Yokogawa, Mitsubishi Electric, and Fanuc, the Asia Pacific region is expected to be the fastest-growing region over the forecast period. Key participants include ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, FANUC, Yokogawa Electric, and Emerson Electric, among others. Smart Factory
Emergen Research has segmented the Global Smart Factory Market on the basis of component, solution, industry, and region:
Component Outlook (Revenue, USD Billion; 2017-2027)
Industrial Robotics (Articulated robots, Cylindrical robots, Cartesian robots, SCARA robots, Collaborative robots)
Industrial 3D printing

Smart Factory Market Size Forecasted to Reach Valuation of USD 309.67 Billion by 2027

TechBullion
Many industry verticals such as mining, energy, petrochemicals, and manufacturing are inclining toward the use of intelligence technologies in their day-to-day activities. This factor has resulted into increasing the popularity of smart factories concept. Adoption of smart factories can assist organizations to improve production quality and boost their overall production. Moreover, smart factory offers energy efficiency and is eco-friendly. Owing to all these benefits, there is notable growth in adoption of smart factories. This factor is resulting into increased sales prospects in the global smart factory market . At present, many enterprises from the manufacturing sector are adopting smart technologies. Moreover, wide acceptance of varied technological advancements such as industrial robots together with emergence of Internet of Things (IoT) are pushing the growth of the global smart factory market. In recent years, there is notable surge in the usage of high-tech machinery and high-tech tools in the manufacturing processes. Furthermore, many companies from industrial verticals are inclining toward cyber world. Thus, all components of value chain are connected to achieve informed manufacturing and no-time lags and no defects. On the back of these factors, the smart factory market is estimated to expand at significant pace in the upcoming years. Many enterprises are offering industrial automation solutions on a wide range of processes and distinct industries. This factor is estimated to bode well with the growth of the smart factory market. Moreover, several recent trends such as development of data models for swift usage, factory-specific templates, and manufacturing execution systems (MES) are expected to drive market growth. In recent period, many industries around the world are inclining toward the use of refurbished robots. Besides, players are concentrating on untapped fields including RFID and industrial robots, which is bringing lucrative prospects for the global smart factory market. Cloud connectivity, machine learning, IoT, big data, sensor technology, cyber security, artificial intelligence are some of the technologies included in the concept of smart factory. Request a sample to get extensive insights into the Smart Factory Market
Players Execute Different Strategies to Stay Ahead in High Level of Market Competition
Emerson Electric Co., ABB Limited, General Electric Company, Fanuc Corporation, Johnson Control International Plc, Honeywell International, Rockwell Automation, Mitsubishi Electric Corporation, Yokogawa Electric, and Schneider Electric are some of the prominent players in the global smart factory market. The presence of many players has made the competition levels in the global smart technology market highly intense. As a result, they are making strategic moves such as mergers, acquisitions, partnerships, and collaborations to stay ahead in the competition. Moreover, many players are increasing their funding toward R&D projects. These factors are expected to fuel market expansion in the years ahead. Asia Pacific: Region with Lion’s Share of Smart Factory Market
Europe, North America, Middle East & Africa, South America, and Asia Pacific are some of the key regions of the global smart factory market. Among all regions, Asia Pacific seems to be prominent region for market players. The Asia Pacific region is projected to gain major share of the smart factory market in the upcoming years as there is surge in technological advancements in different industries and the increase in the use of automotive technologies. Moreover, increased focus of regional government authorities on intellectualization and information integration is estimated to boost the Asia Pacific smart factory market in the years to come. In countries like China, many enterprises are joining hands with different research institutions in order to achieve improved manufacturing processes. Besides, many small factories in Japan incorporate various technological advancements such as robots, manufacturing sensors, wireless technologies, and machine vision systems. These innovations signify that the Asia Pacific region holds potential to boost the market growth. About Us
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Adoption of Intelligence Technologies in Manufacturing Processes to Boost Expansion of Smart Factory Market, States TMR Study

Growing Adoption of IoT across the Value Chain Expected to Spur Growth
IoT is fruitful in applications, where faster development and real-time monitoring of quality are the vital factors ensuring greater benefits to the end-user. The manufacturing sector is one such end-user where real-time monitoring and feedback are vital for seamless manufacturing operations. IoT has numerous applications in the manufacturing sector. It can facilitate the production course in a plant, as IoT devices can automatically monitor development cycles and manage warehouses and inventories. Massive shifts in manufacturing due to industry 4.0 and acceptance of IoT require enterprises to adopt agile, smarter, and innovative ways to advance production, with technologies that complement and augment human labor with robotics, and reduce industrial accidents caused by a process failure. According to Cisco, by 2022, machine-to-machine (M2M) connections that support IoT applications may account for more than half of the world's 28.5 billion connected devices. The novel IIoT technologies are becoming a key component in helping the manufacturing companies to maximize the ROI from smart factory initiatives. Big data analytics proves to be a useful tool to handle a vast volume of data being generated. With the concept of Industry 4.0, shaping the production establishments in the modern manufacturing industry, the amount of data produced from the manufacturing sector increased exponentially, as data points are created from each process point, varying from temperature, pressure, humidity, stress, strain, and quality. Asia-Pacific Occupies the Largest Market Share
Manufacturing is one of the pillars of China's economy and is undergoing a rapid transformation. As the population ages, along with rising labor costs, the legacy model based on inexpensive migrant workers is no longer sustainable. It is reported that low-end manufacturing firms are moving to Southeast Asia to cut costs, which include automotive and electronics manufacturing companies. It is forecast that in the next five years, the automotive industry will expand 6 to 7%, annually. India is poised to become the fifth-largest manufacturing country in the world by the end of 2020. Moreover, manufacturing giants, such as GE, Siemens, HTC, Toshiba, and Boeing have either set up or are in process of setting up manufacturing plants in India. Japan's supplementary budget for the 2020 fiscal earmarked JPY 23.5 billion for companies that move production to the Southeast Asian countries. By expanding the subsidy program's scope, Japan aims to reduce its dependence on a particular region. It wants to build a system that can provide a stable supply of medical materials and electronic components, even during emergencies. This is expected to drive investment in the smart factory market in the region. Key Topics Covered:

Global Smart Factory Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

KupiVIP

Siemens

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Provider of a business to consumer (B2C) e-commerce marketplace. The company's cross-boarder portal aims to integrate physical stores with e-commerce. Its personalization algorithms enables to select only those items that users might like. Best suppliers will be presented on offline stores.

Name	Work History	Title	Status
Oskar Hartmann	KupiVIP	Founder	Current
Max Renneberg		Founder	Current
Elias Russezki		Founder	Current
Caroline Wehner	Siemens	Founder	Former

Name	Oskar Hartmann	Max Renneberg	Elias Russezki	Caroline Wehner
Work History	KupiVIP			Siemens
Title	Founder	Founder	Founder	Founder
Status	Current	Current	Current	Former

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