Smart Factory Market Share,Segmentation, Competitive Landscape, Market Poised for Rapid Growth And Forecast To 2030

Smart Factory Market Share,Segmentation, Competitive Landscape, Market Poised for Rapid Growth And Forecast


Digital V

a year ago | 3 min read

Smart Factory Market -Overview

The inclusion of robots to reduce the strain of manual laboron humans is expected to incentivize the growth of the smartfactory in 2020. The semiconductor and electronics industry reports areproduced by Market Research Future, which highlights market options for expansion.  An 11.7% CAGR is predicted to provide theimpetus for market growth in the forecast period.

The progress in the sensor technologies is estimated to openup new areas for the expansion of the smart factory market. The improvement in theadoption of robots in industries is expected further to stimulate the progressof the smart factory market. The attractiveness of the internet of things (IoT)is predicted to unlock favorable growth opportunities in the market.

Segmental Analysis The segmental investigation of the smart factory market hasbeen conducted on the basis of connectivity, services, industry vertical,component, and region. On the basis of services, the smart factory market issegmented into managed & professional services. Based on the industryvertical, the smart factory market is segmented into aerospace & defense,chemicals, automotive, oil & gas, electronics & semiconductor,healthcare and pharmaceutical, and others. Based on the components, the smartfactory market is segmented into hardware and software. On the basis of the connectivity,the smart factory market is segmented into wireless connectivity and wiredconnectivity. Based on the regions, the smart factory market is segmented into themMiddle East & Africa, Asia-Pacific, North America, South America, andEurope.

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Detailed Regional Analysis 

The regional analysis of the smart factory market encompassesregions such as the Middle East & Africa, Asia-Pacific, North America,South America, and Europe. The North American region directed the smart factorymarket in the year 2017, while the Asia-Pacific region is likely to be thefastest increasing region in the smart factory market throughout the forecastperiod. The European region is anticipated to be at the next position for thesmart factory market in terms of market share in the year 2017. The North American region guides themarket due to the existence of the international corporations funding theR&D for the industrial Internet of Things (IIoT), industrial automation,and cloud technology.

Competitive Analysis

The establishment of a definite competitive advantage isestimated to spur market development in the forecast period. The inducementsoffered by the government are expected to display a positive influence on the overallmarket development in the impending period. The reinvention of the supplychains by integrating robust technology in them is estimated to spur the advanceof the market in the approaching period. The state of technological developmentis estimated to be staggered as the development of the global market is at arelative standstill. The effect of unpredictable events has created substantialbarriers that will have to suitably addressed and overcome to achieve normalcyin the global market. The need to invest in building a robust consumer base isestimated to rank on the top priorities of market leaders for the upcomingperiod. The weakening of trade channels is projected to present new challengesthat have to be overcome expediently in the coming years. The regulations invarious regions can be relied upon to rebuild market clout gradually in thefuture.

The central contenders in the smart factory market are ABBLtd, Rockwell Automation, Emerson Electric Co., Honeywell International Inc., RobertBosch GmbH, FANUC Corporation, Mitsubishi Electric Corporation, GeneralElectric Company (GE), Johnson Controls International PLC, Schneider Electric,Siemens AG, Yokogawa Electric Corporation, Atos SE, Cognex Corporation and Ubisense to name a few.

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Industry Updates:

April 2020 HGZNhas collaborated with Hyundai Robotics to get on a project to create a smartfactory to produce robots in China. The groundbreaking ceremony for the HGZN’sIntelligent Robot Industrialization Project was conducted lately at theeconomic development zone in Haining. With a well-built industrial city as its objective,HGZN  is concentrating on the smart robotindustrialization development.

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