Global Smart Factory Market  Size and Overview

A smart factory is consists of automated and fully-integrated solutions deployed in the manufacturing facilities. The integration aids in streamlining the flow of materials while the manufacturing processes are carried out. This enables ease of movement of materials and provides optimum operational efficiency. Many of the manufacturing firms have now been able to achieve zero waste production. The automation of processes in a factory reduces the need for human labor.
Growth in the adoption of IoT technology and increasing need for resource optimization have driven the global smart factory market. However, huge capital investments impede the market growth to a certain extent.

The smart factory market is segmented on the basis of technology, product, and industry vertical. Product lifecycle management, manufacturing execution system, programmable logic controller, supervisory control & data acquisition, enterprise resource planning, distributed control system, human machine interface, and plant asset management are analyzed in the segmentation by technology. Further, the products studied in the report include machine vision systems, industrial robotics, control devices, sensors, communication technologies, and others. Based on industry vertical, the smart factory market is segmented into automotive, oil & gas, semiconductors, pharmaceuticals, chemicals, aerospace & defense, food & beverage, mining, and others. Geographically, the smart factory market is sub-divided into North America, Europe, Asia-Pacific, and Rest of the world.

The key market players operating in the smart factory market include Siemens AG, General Electric Co, ABB Ltd, Rockwell Automation Inc., Schneider Electric SE, Honeywell Inte
ational Inc., Fanuc Corporation, Mitsubishi Electric, Emerson Electric, and Yokogawa Electric Corporation among others.

SMART FACTORY MARKET SEGMENTS

Market By Technology

•    Product lifecycle management

•    Manufacturing execution system

•    Programmable logic controller

•    Supervisory control & data acquisition

•    Enterprise resource planning

•    Distributed control system

•    Human machine interface

•    Plant asset management

Market By Product

•    Machine vision systems

•    Industrial robotics

•    Control devices

•    Sensors

•    Communication technologies

•    Others

Market By Industry Vertical

•    Automotive

•    Oil & gas

•    Semiconductors

•    Pharmaceuticals

•    Chemicals

•    Aerospace & defense

•    Food & beverage

•    Mining

•    Others

Market By Geography

•    North America

•    Europe

•    Asia Pacific

•    Rest of the world

KEY PLAYERS

•    Siemens AG

•    General Electric Co

•    ABB Ltd

•    Rockwell Automation Inc.

•    Schneider Electric SE

•    Honeywell Inte
ational Inc.

•    Fanuc Corporation

•    Mitsubishi Electric

•    Emerson Electric

•    Yokogawa Electric Corporation