The research report
“Smart Factory Market
Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia,
Brazil, Saudi Arabia, UAE, South Africa), Application Development Potential,
Price Trend, Competitive Market Share & Forecast, 2017 – 2024”, Global Smart
Factory Market size is witnessing a substantial growth, with increasing demand
for smart production technology, includes quality & productivity and zero
defect.
Growing demand for efficient and energy saving
production process is likely to fuel the smart factory market demand. The
advanced factories provide complete automation solutions for production
facilities to streamline the flow of materials without wasting any time by
connecting machine to machine communication.
Increasing adoption of industrial robots,
digital transformation and development of internet services by manufacturers
are the major factors which will propel the smart factory market growth in
future. Industrial evolutions in the technology enhancements has resulted in
upgraded production facility in terms of efficiency couple with minimum waste
& defects.
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In
manufacturing process, industrial robot is a disruptive technology and is
anticipated to bring a revolution in smart factory market. Implementation of
industrial robotics has led to advanced production processes which can improve
the productivity, reduce the human errors and increase the production volume.
Strong
automotive outlook coupled with upsurge in manufacturing of auto parts and is
expected to hold the largest market share of smart factory market in future.
Efficient and upgraded production plays a significant role in the production
and development of quality automotive components. Moreover, adoption of
advancement in technology in the oil and gas industry is anticipated to be
highest owing to extensive need for reliability and safety in oil & gas
manufacturing plants in order to enhance the overall efficiency and minimizing
the operating cost.
Expansion of
packaging, transportation, pharmaceuticals and chemical industries is likely to
propel the smart factory market owing to its immense use in this segment for
enhancing the productivity without any wastage of time and material. Technology
and automotive in product manufacturing makes the usage of several devices
including motors, switches, sensors and technologies in radio frequency
identification, manufacturing execution system programmable logic control and
others are designed in order to meet the requirement of manufacturing units.
Lack of
standardization and interoperability coupled with unavailability of efficient
& trained workers are the key restraining factors for global smart factory
market growth in upcoming years. Threats of cyber security and associated cost
is hampering the product manufacturing market in weapons, armaments and nuclear
industries.
North
America, led by U.S. holds the major share of smart factory market. Presence of
leading players and multinational companies will further augment the demand.
Increasing research & development in internet of things (IOT) for improved
and modern technology are major factors driving the product demand in this
region.
Asia
Pacific, is foreseen to be largest in smart factory market during the predicted
timeframe owing to high investments in development of processing sectors along
with favorable government regulations and availability of raw materials. Growth
in pharmaceuticals and IT industry is likely to fuel the smart factory market demand
in this region. For an instance, In April 2015, South Korea government has
invested around USD 12 million in order to promote the product concept in this
region.
Large presence of automotive manufacturing units and
high investments by leading companies are the key factors driving demand in the
Europe region. Enhancing the production output along with quality products will
further augment the demand in forecasted time period.
The prominent players of smart factory market include
Siemens AG, General Electric Company, Fanuc Corporation, ABB Ltd., Schneider
Electric and Honey International Inc. Some other notable players in this market
include Yokogawa Electric Corporation, Kuka Aktiengesellschaft, Atos SE,
Johnson Controls Inc., Emerson Electric Company and Robert Bosch GmbH. In April 2017, Honey International Inc,
introduced a new lightweight satellite communication system for cockpit safety
in order to provide facilities to aviation sector.
Purchase Smart Factory Market Report by calling Global Market Insights, Inc. at
1-888-689-0688 (Toll Free) or 1-302-846-7766.
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advanced materials, technology, renewable energy and biotechnology.
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