Market Highlights
The smart factory represents the technological and manufacturing development and is combination of high-tech tools and high-tech workers. Smart factory can be defined as a combination of production, information, and communication technologies, having the ability for integration across the entire manufacturing supply chain. The growing demand for sustainable and service-oriented business practices the smart factory is designed. It depends upon flexibility, adaptability, fault tolerance, and risk management.
Smart Factory Market Trends is estimated to grow at a CAGR of 11.7%. The market is estimated to reach around USD 257,485 million during the forecast period 2018-2023.
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Key Players:
The key players of global Smart Factory Market Trends are Siemens AG, General Electric Company (GE), ABB Ltd, Rockwell Automation, Schneider Electric, Honeywell International Inc., FANUC Corporation, Mitsubishi Electric Corporation, Emerson Electric Co., Johnson Controls International PLC, Yokogawa Electric Corporation, Atos SE, Robert Bosch GmbH, Cognex Corporation and Ubisense.
Segments:
The segmental investigation of the smart factory market has been conducted on the basis of connectivity, services, industry vertical, component, and region. On the basis of services, the smart factory market is segmented into managed & professional services. Based on the industry vertical, the smart factory market is segmented into aerospace & defense, chemicals, automotive, oil & gas, electronics & semiconductor, healthcare and pharmaceutical, and others. Based on the components, the smart factory market is segmented into hardware and software. On the basis of the connectivity, the smart factory market is segmented into wireless connectivity and wired connectivity. Based on the regions, the smart factory market is segmented into the Middle East & Africa, Asia-Pacific, North America, South America, and Europe.
Market Research Analysis:
The regional analysis of the smart factory market encompasses regions such as the Middle East & Africa, Asia-Pacific, North America, South America, and Europe. The North American region directed the smart factory market in the year 2017, while the Asia-Pacific region is likely to be the fastest increasing region in the smart factory market throughout the forecast period. The European region is anticipated to be at the next position for the smart factory market in terms of market share in the year 2017. The North American region guides the market due to the existence of the international corporations funding the R&D for the industrial Internet of Things (IIoT), industrial automation, and cloud technology.
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