Global Smart Factory Market Analysis By Size, Share Trends, Future Growth, Emerging Trends, Qualitative Outlook – Forecast To 2030

In a recently published report, Global Smart Factory Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Factory Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

A smart factory represents a flexible environment wherein systems can run autonomously by themselves and self-optimize performance. It is being touted as Industry 4.0 where the backbone of this trend would be networking and internet. The 4 design principles of a smart factory would be interoperability, information transparency, technical assistance and decentralized decisions. A smart factory would include cyber physical systems, Internet of Things, cloud computing and cognitive computing. The concept of smart factory visualizes that every step of the manufacturing process can be interconnected. It would include entire technical integration of systems across product lifecycles, supply and value chains, functional hierarchies and geographic boundaries.

Market Dynamics:
Factors like technology, optimization and sustainability are shaping the manufacturing industry. On the technology front, the enabling and advancement of technologies like Internet of Things (IoT), data analytics, cloud based application infrastructure and middleware, smart robotics, additive manufacturing, integrated product-product simulation is primarily driving the smart factory market. Tracking multi geographic and multi plant operations and the growing need for centralization is also shaping the growth of this market.
The critical challenges facing the evolution of the smart factory market are the design of the process landscape, identification of new employee profiles, re-skilling of the employees and the complexity and the expense of the networking subsystems. The associated cyber risk and the lack of proper cyber security infrastructure can also dampen the growth of this market.

Market Segmentation:
The Global Smart Factory market can be segmented on the basis of technology, component and end user industry.
Programmable Logic Controller
Distributed Control System
Human Machine Interface
Supervisory Control and Data Acquisition System
Enterprise Resource Planning
Plant Asset Management
Product Lifecycle Management
Manufacturing Execution Systems
Industrial robots
Machine vision systems
3D Printing

End user industry:
Process Industry
Food and Beverages
Oil and Gas
Pulp and paper
Mining and Metals
Energy and Power
Cement and Glass

Aerospace and Defence
Semiconductor and Electronics
Medical devices
Machine Manufacturing
Printing and Fabrication

Geographical Analysis:
Geographically, the market is segmented into North America, Asia Pacific, Europe and South America. Enhancement of digital technologies in emerging markets like China and India have made the Asia Pacific region the fastest growing market. The development of manufacturing sector and favourable government regulations have made APAC a very lucrative market. Geographically, North America is the largest market for Smart Factory because of the presence of already established multinational corporations. Europe is the 2nd largest market after North America as it is the origin of Industry 4.0.

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Key Players:
Some of the key companies in Global Smart Factory market are ABB, Siemens AG, General Electric, Mitsubishi Electric, Cisco, IBM, SAP, Honeywell, Bosch, Rockwell Automation, Schneider Electric and Yokogawa Electric Corporation.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Rest of Eastern Europe

Asia Pacific
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .

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