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Smart Factory Market 2023 - By Overview, Size, Top Key Players, Growth, Share, And Forecast 2032
Smart Factory Market
The Business Research Company's Smart Factory Global Market Report 2023 identifies growing demand for industrial robots as the major driver for the Smart Factory market's growth in the forecast period. Industrial robots refer to mechanical machines that are programmed to automatically perform production-related tasks in industrial environments. A smart factory focuses on the optimization and industrial automation of its resources.
The global smart factory market size grew from $70.44 billion in 2022 to $79.04 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart factory market size is expected to grow to $119.28 billion in 2027 at a CAGR of 10.8%.
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Major competitors in the Smart Factory market are ABB, Emerson Electric Co, General Electric, Honeywell International Inc., IBM, Johnson Controls International PLC, Mitsubishi Electric Corporation.
A key trend in the Smart Factory market includes technology advancements. Major companies in the smart factory sector are using advanced technologies to improve the production process and achieve better efficiency. For instance, in 2021, Panasonic, a Japan-based company operating in smart factory solutions, launched the Miraie Pro factory platform, an Industrial IoT/smart factory solution developed indigenously at the company's India Innovation Centre. Miraie pro factory uses new-age technologies such as Cloud, IoT, analytics, and mobile apps, to name a few, to manage end-to-end operations, resulting in enhanced production efficiency.
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https://www.thebusinessresearchcompany.com/report/smart-factory-global-market-report
The Smart Factory market is segmented -
• By Product: Machine Vision Systems, Industrial Robotics, Control Devices, Sensors Communication Technologies, Other Products
• By Component: Smart Factory Hardware, Smart Factory Software, Smart Factory Services
• By Industry Vertical: Automotive, Aerospace and Defense, Electrical and Electronics, Food and Beverages, Energy and Utilities, Healthcare and Pharmaceuticals, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Smart Factory market.
The Business Research Company's "Global Smart Factory Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Factory Market Include:
1. Executive Summary
2. Smart Factory Market Characteristics
3. Smart Factory Market Trends And Strategies
4. Smart Factory Market - Macro Economic Scenario
5. Smart Factory Market Size And Growth
………………………………………………………
26. Africa Smart Factory Market
27. Smart Factory Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Factory Market
29. Smart Factory Market Future Outlook and Potential Analysis
30. Appendix
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