Smart Factory Market

Smart Factory Market: Adoption of Fast Smart Factory Solutions by the Automotive Industry to Boost Revenue Growth During the Forecast Period: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

  • 2018-08-23
  • REP-GB-446
  • 389 pages
  • PDF PPT EXCEL
Smart Factory Market

An Incisive, In-depth Analysis on the Smart Factory Market

This study offers a comprehensive, 360 degree analysis on the Smart Factory market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Smart Factory market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

The smart factory is a paradigm shift from traditional automation to a fully connected and flexible system that enables organisations to digitally plan and project the entire lifecycle of products and production facilities. A smart factory can integrate data from system-wide physical, operational and human assets to drive manufacturing, maintenance and inventory tracking. Moreover, several companies are already leveraging components of smart factories in areas such as advanced planning, scheduling, real-time production and inventory management.

In this report, FMI has segmented the global smart factory market on the basis of market structure, manufacturing vertical, component and region. By market structure, the market is sub-segmented into to connect, to collect, to analyse and to control. The control sub-segment is surging the growth of the global smart factory market owing to a quantitative increase in the demand for industrial components such as actuators, industrial robots and additive manufacturing equipment. In addition, the global adoption of Internet-based technologies by several industry verticals is surging the growth of the smart factory market. However, the growth of the analyse sub-segment can be attributed to the growth of data-driven technologies across the globe. It has been observed that the demand for data-driven technologies is increasing rapidly. Companies are adopting data-driven technologies for decision making. Owing to these factors, the analyse sub-segment is projected to register double-digit market growth and hold the highest market share at the end of 2028 in the global smart factory market. In addition, the collect sub-segment is expected to register a high Y-o-Y growth rate during the forecast period due to advancements in chemical and material industries. Moreover, the connect sub-segment is also witnessing high growth due to an increase in the adoption of Internet-based technologies.

Based on manufacturing vertical, the smart factory market is sub-segmented into automotive & transportation, food & beverages, electrical & electronics, aerospace & defence, oil & gas, garments & textile, chemical & material and others. The emergence of next-generation vehicles is a major factor that promotes the growth of the automotive & transportation sub-segment. The automotive segment has witnessed several technological advancements in the recent years. In the automotive industry, autonomous vehicles, such as smart cars, connected cars and driverless cars, are in the testing and deployment stages. These key advancements in the automotive industry are encouraging automotive OEMs to adopt smart factory components.

Furthermore, on the basis of component, the smart factory market is segmented into hardware, software and services. Due to an increase in the proliferation of industrial robots, sensors and additive manufacturing equipment, the hardware sub-segment is projected to hold the largest market share for the smart factory market at the end of 2028. Moreover, due to the adoption of data-driven technologies in various industry verticals, the software sub-segment is expected to register double-digit growth during the forecast period.

In addition, on the basis of geography, the North America smart factory market is expected to dominate the global smart factory market due to advancements in next-generation technologies in the U.S. and Canada. The provision of enhanced manufacturing capabilities is expected to propel the smart factory market in North America. Moreover, the region has witnessed the widespread deployment of IoT and ultra-reliable, low-latency communications technologies in the past couple of years. These factors are fuelling the growth of the smart factory market in North America. The smart factory market has high potential in China owing to major technological advancements in the manufacturing and industrial sectors. The SEA and Others of APAC smart factory market is expected to be among target markets for smart factory market participants. The Latin America smart factory market is estimated to grow at a high CAGR over the forecast period. The MEA smart factory market is projected to grow at a high CAGR due to an increase in the penetration of additive manufacturing components in the oil & gas industry.

According to FMI analysis, long-term contracts with business partners are likely to increase revenue and new innovation strategies are estimated to enable smart factory vendors to reach new growth markets. Some of the key players in the global smart factory market include ABB (ASEA BROWN BOVERI) Group, Siemens AG, Schneider Electric SE, Rockwell Automation Inc., Honeywell International, Inc., General Electric Company, Johnson Controls International PLC, Yokogawa Electric Corporation, Robert Bosch GmbH, Oracle Corporation, SAP SE, IBM Corporation, Emerson Electric Company, Cisco Systems, Inc. and Wipro Limited.

Report Synopsis

Future Market Insights (FMI) offers a 10-year forecast of the smart factory market between 2018 and 2028. In terms of value, the market is expected to register a single-digit CAGR during the forecast period. This study demonstrates the global market dynamics and trends across eight regions: North America, Latin America, Western Europe, Eastern Europe, SEA & Others of APAC, China, Japan and MEA, which influence the current nature and future status of the smart factory market over the forecast period.

Report Description

This research report provides a detailed analysis of the smart factory market and offers insights on the various factors driving the popularity of smart factory systems. The report includes an extensive analysis of key industry drivers, challenges, market trends and market structure. The market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on technology, application and different regions globally.

The smart factory market is expected to witness significant value growth during the forecast period owing to an increase in the demand for Industrial Internet of Things (IIoT) and data-driven technologies from various industry verticals.

The report starts with an overview of the smart factory market in terms of value. In addition, this section includes an analysis of key trends, drivers and challenges from the supply, demand and economy side, which are influencing the smart factory market.

The smart factory market is classified on the basis of market structure, manufacturing vertical, component and region. On the basis of market structure, the market is sub-segmented into to collect, to connect, to analyse and to control. Furthermore, by manufacturing vertical, the global smart factory market is segmented as automotive & transportation, food & beverages, electrical & electronics, aerospace & defence, oil & gas, garments & textile, chemical & material and others. The automotive sub-segment accounted for a relatively higher share owing to an increase in the demand from automotive OEMs.

On the basis of component, the global smart factory market is segmented into hardware, software and services. Due to the increasing proliferation of sensors and industrial robots, the hardware sub-segment accounted for the highest market share for the global smart factory market in 2017.

A detailed analysis has been provided for every segment in terms of market size analysis for the smart factory market across different regions. This section provides a detailed analysis covering key trends.

The next section contains a detailed analysis of the smart factory market across various countries in the region. It provides a market outlook for 2018–2028 and sets the forecast within the context of the smart factory market, which includes latest technological developments as well as offerings in the market. This study discusses key trends within countries contributing to growth of the market, as well as analyses the degrees at which drivers are influencing this market in each region. Key regions and countries assessed in this report include North America (U.S., Canada), Latin America (Brazil, Mexico & Rest of Latin America), Western Europe (UK, France, Germany, Italy, Spain, BENELUX & Rest of Western Europe), Eastern Europe (Russia, Poland & Rest of Eastern Europe), SEA (India, Australia & New Zealand, ASEAN & Rest of APAC), China, Japan and MEA (GCC Countries, Turkey, South Africa, Northern Africa & Rest of MEA). This report evaluates the present scenario and the growth prospects of the smart factory market across various regions globally for the period 2018 –2028. We have considered 2017 as the base year and provided data for the remaining 12 months.

To offer an accurate forecast, we started by sizing the current market, which forms the basis of how the smart factory market will grow in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analysis based on the technology trends.

As previously highlighted, the global smart factory market is split into a number of segments. All segments in terms of market structure, manufacturing vertical, component and different regions are analysed in terms of basis points to understand the relative contributions of individual segments to market growth. This detailed information is important for the identification of various key trends in the global smart factory market.

In addition, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global smart factory market.

In the final section of the report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the smart factory market and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the smart factory supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the smart factory market. Some of the key competitors covered in the report are ABB (ASEA BROWN BOVERI) Group, Siemens AG, Schneider Electric SE, Rockwell Automation Inc., Honeywell International, Inc., General Electric Company, Johnson Controls International PLC, Yokogawa Electric Corporation, Robert Bosch GmbH, Oracle Corporation, SAP SE, IBM Corporation, Emerson Electric Company, Cisco Systems, Inc. and Wipro Limited.

Key Segments

By Market Structure

  • To Connect

    • Wired and Wireless Networking

    • Wide Area Networking (WAN)

    • Local Area Networking (LAN)

    • Machine-to-Machine Network

  • To Collect

    • Sensors

    • Digital Measurement Devices

    • Auto Identification Hardware

  • To Analyse

    • Data Historian

    • Reporting

    • Complex Event Processing

    • Predictive Algorithm

  • To Control

    • Actuators

    • Programmable Logic Controllers

    • Smart Robotics

    • Additive Manufacturing Equipment

    • SCADA

    • DCS

    • Others (MES, HMI)

 By Manufacturing Vertical

  • Automotive & Transportation

  • Food & Beverage

  • Electrical and Electronics

  • Aerospace & Defence

  • Oil & Gas

  • Garment & Textile

  • Chemical & Material

  • Others ( Healthcare & Pharmaceutical)

By Component

  • Hardware

  • Software

  • Services

Key Regions covered:

  • North America

    • U.S.

    • Canada

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Western Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

    • Benelux

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • Rest of Eastern Europe

  • SEA & Others of APAC

    • India

    • Australia & New Zealand

    • ASEAN

    • Rest of APAC

  • China

  • Japan

  • MEA

    • GCC Countries

    • Turkey

    • South Africa

    • North Africa

    • Rest of MEA

Key Companies

  • ABB (ASEA BROWN BOVERI) Group

  • Siemens AG

  • Schneider Electric SE

  • Rockwell Automation Inc.

  • Honeywell International, Inc.

  • General Electric Company

  • Johnson Controls International PLC

  • Yokogawa Electric Corporation

  • Robert Bosch GmbH

  • Oracle Corporation

  • SAP SE

  • IBM Corporation

  • Emerson Electric Company

  • Cisco Systems, Inc.

  • Wipro Limited

Smart Factory Market Reports - Table of Contents

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Akshay Godge

Client Partner - Global Business Development

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Pranay Mhaisekar

Business Development

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