At 9+% CAGR, Smart Factory Market Potentially Worth $205.42 Billion by 2022 Led by Industrial Robots
The smart factory market is forecast to reach $205.42 billion by 2022 from $120.98 billion in 2016 at a CAGR of 9.3% during (2017-2022) driven by the increase in adoption of industrial robots, the evo...
April 18, 2017 --
PUNE, India, April 18, 2017 /PRNewswire-iReach/ -- The DCS technology expected to hold a major share of the smart factory market during the forecast period. DCS technology is expected to hold a major share of the market by 2022. This growth is attributed to a high rate of industrialization in the developing economies. The developing regions are witnessing the expansion of the manufacturing activities at the highest pace due to the availability of skilled workforce, low labor cost, and availability of resources. Developing countries have expansion and capacity addition plans related to the power sector, which would boost the demand for DCS. Complete report on "Smart Factory Market" spread across 207 pages, profiling 12 companies and supported with 65 tables and 75 figures is now available at http://www.rnrmarketresearch.com/smart-factory-market-by-technology-scada-dcs-plc-erp-mes-plm-mom-field-devices-industrial-network-robotics-rfid-and-motors-drives-relays-switches-sensors-application-process-d-market-report.html .
The smart factory market for industrial 3D printing expected to grow at the highest rate between 2017 and 2022. The industrial 3D printing market is projected to grow at the highest rate between 2017 and 2022. The market growth is attributed to the increasing adoption of 3D printing technology in industries such as automotive, aerospace and defense, food and beverages, and semiconductor and electronics.
Market for the automotive industry accounts largest share of the global smart factory market during the forecast period. The automotive industry is expected to hold the largest size of the smart factory market during the forecast period. Advancement in automotive manufacturing technologies and an increase in investment by key automotive manufacturers are some of the factors expected to drive the market for the automotive industry. Smart manufacturing plays a key role in the development and production of quality automobiles. Innovations in the assembly line methods are welcomed by the vehicle manufacturers to enhance quality and increase factory productivity.
The smart factory market in APAC expected to grow at the highest rate during the forecast period. The smart factory market in the APAC region is projected to grow at the highest rate between 2017 and 2022. The growth of the market is primarily driven by the growing manufacturing sector in the region. Furthermore, continuous advancements and technological innovations in various industries; economic development in China, Japan, and India; growth in infrastructural developments in other countries in Southeast Asia; and an increase in foreign investments in this region are driving the growth of the smart factory market in the region.
This research study is obliging for following audience:
- Associations and industrial bodies
- Component suppliers and distributors
- End users of smart factory technologies across various industries
- Government bodies such as regulatory authorities and policymakers
- Industrial automation equipment providers
- Market research and consulting firms
- Original equipment manufacturers (OEMs)
- Semiconductor product designers and fabricators
The key players in the smart factory market include ABB Ltd.(Switzerland), Atos SE (France), Emerson Electric Co. (U.S.), FANUC Corporation (Japan), General Electric Co. (U.S.), Honeywell International Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), and Yokogawa Electric Corporation (Japan).Download PDF Brochure "Smart Factory Market by Technology (DCS, PLC, MES, ERP, SDADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), End-User Industry, and Region - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=112625 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (30%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (70%), Directors (20%) and others (10%) from various key organizations operating in the Smart Factory Market. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (35%), APAC (15%) and Row (10%).
Research Coverage: The research report analyzes the smart factory market based on the following segments - technology, component, end-user industry, and region. The market has been segmented on the basis of technology into Product Life Cycle Management (PLM), Manufacturing Execution Systems (MES), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition System (SCADA), Enterprise Resource Planning (ERP), Distributed Control System (DCS), Human Machine Interface (HMI), and Plant Asset Management (PAM).The report covers the market segmented on the basis of component into sensors, machine vision systems, industrial 3D printing, and industrial robots.
The market has been segmented on the basis of end-user industries into process and discrete industry. Additionally, process industries have been segmented into oil and gas, food and beverages, energy and power, mining and metals, chemical, pharmaceutical, pulp and paper, others (cement and glass, and water and wastewater management). Discrete industries include automotive, aerospace and defense, semiconductor and electronics, machine manufacturing, medical devices, and others (printing and packaging).The report also covers the market segmented on the basis of four major regions: North America, Europe, APAC, and RoW.
On a related note, another research titled Industrial Control and Factory Automation Market says, the industrial control and factory automation market was valued at $108.80 billion in 2015 and is projected to reach $153.30 billion by 2022, at a CAGR of 4.88% between 2016 and 2022. The oil and gas industry segment expected to account for the largest market share during the forecast period. Companies such as Siemens AG (Germany), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), and Rockwell Automation, Inc. (U.S.) have been profiled in this 240 pages research report available at http://www.rnrmarketresearch.com/industrial-control-and-factory-automation-market-by-technology-scada-plc-rtu-dcs-mes-hmi-and-safety-component-industrial-robot-machine-vision-valve-control-device-and-field-instrument-industry-geography-global-forecast-to-202-market-report.html .
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