The Smart Factory Market was valued at USD 70.65 billion in 2020, and is expected to increase at a CAGR of 10% from 2021 to 2028, to reach USD 152.94 billion by 2028.
The Smart Factory Market was valued at USD 70.65 billion in 2020, and is expected to increase at a CAGR of 10% from 2021 to 2028, to reach USD 152.94 billion by 2028.
The smart factory market is growing due to rising demand for IoT and artificial intelligence in industrial environments, a growing emphasis on energy efficiency, resource optimization, and cost reduction in manufacturing operations, rising demand for industrial robots, and fiscal policies to keep manufacturing facilities afloat in the face of the COVID-19 crisis.
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