Global Smart Factory Market

Global Smart Factory Market 2023-2027
The smart factory market is forecasted to grow by USD 73.68 bn during 2022-2027, accelerating at a CAGR of 9.26% during the forecast period. The report on the smart factory market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the need for simplification of complex manufacturing activities, changes in global labor force, and miniaturization of sensors.

Technavio's smart factory market is segmented as below:

By ComponentIndustrial sensorsIndustrial robotsIndustrial 3D printersMachine vision systemsSolution OutlookSCADAMESDCMPLCPLMBy Geographical LandscapeNorth AmericaEuropeAPACSouth AmericaMiddle East and AfricaThis study identifies the emergence of the industrial internet of things (IIoT) as one of the prime reasons driving the smart factory market growth during the next few years. Also, an increase in the adoption of data analytics and improvements in machine vision systems will lead to sizable demand in the market.

The report on the smart factory market covers the following areas:Smart factory market sizingSmart factory market forecastSmart factory market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart factory market vendors that include ABB Ltd., Azbil Corp., Cisco Systems Inc., Dassault Systemes SE, Emerson Electric Co., FANUC Corp., FUJI Corp., General Electric Co., Honeywell International Inc., Johnson Controls International Plc, Microsoft Corp., Mitsubishi Electric Corp., Oracle Corp., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., and Endress Hauser Group Services AG. Also, the smart factory market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.