Smart Factory Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Smart Factory Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : May, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Smart Factory Market: Overview

The global smart factory sector has been propelled by the need for efficient and precise ways of operating a manufacturing unit. The increasing adoption of industrial robots in the global manufacturing sector was the first step for the smart factory market. Modern factories incorporate sophisticated industrial robotic systems, Internet of Things technology, and machine communication technology to enable smooth automated manufacturing. The rising government support to the smart factory sector, due to their increased output and the benefit of the same on the nation’s economy, is likely to enable sustained growth of the smart factory market in the coming years.

Global Smart Factory Market: Key Trends

The rising demand for industrial robots and the steady technological progression of the industrial robotics sector is one of the key drivers for the global smart factory market. Industrial robots offer significantly higher precision and a lower error rate than human workers. Large-scale use of industrial robots also raises the productivity of the manufacturing unit, providing a significant cost advantage. As a result, human factory workers across the world could find themselves without a livelihood following steady growth of the global smart factory market.

The booming automotive industry is one of the prime consumers in the global smart factory market and is likely to remain influential in the smart factory sector in the coming years. Due to the rising need for extremely precise engineering in automotive design, smart factory solutions such as industrial robotics are becoming popular in the automotive industry. The steady growth of the automotive industry due to the rising disposable income of consumers across the world is thus one of the key drivers for the global smart factory market in the coming years. The rising automotive industry in Southeastern and Eastern Asia could play a particularly important role in the global smart factory market in the coming years.

Global Smart Factory Market: Market Potential

South Korea is likely to be a leading regional market for smart factory technology in Asia Pacific due to rising government as well as corporate interest. The South Korean government had earlier set the target of having 10,000 smart factories operational in the country by 2020. In April 2017, the government extended its support to the smart factory market in the country by upping the target to 30,000 smart factories by 2025. South Korea’s determination to remain a leading light in the industrial sector has made it a pioneer in terms of the adoption of digital and automation technologies, which is likely to benefit the smart factory market immensely in the coming years.

Global Smart Factory Market: Geographical Dynamics

Developing countries in Asia Pacific are likely to be the dominant leaders in the global smart factory market in the coming years. Apart from South Korea, the smart factory market has also received steady government support in China, Japan, Taiwan, and India. The rapid pace of urbanization in these dynamic economies is a prime factor aiding the smart factory market’s growth in the region.

Global Smart Factory Market: Competitive Dynamics

The global smart factory market is dominated by companies that have established mutually beneficial partnerships with technology companies. Fanuc-Cisco and Kuka-Huawei are among the leading lights in the global smart factory market. ABB-IBM, a relatively recent collaboration, could also play a key role in the development of the global smart factory market in the coming years. Other key players in the global smart factory market include Emerson Electric Co., General Electric Co., Atos SE, Schneider Electric SE, Mitsubishi Electric Corporation, Robert Bosch GmbH, Siemens AG, and Yaskawa Electric.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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