Comprehensive Report on Global Smart Factory Market by Knowledge Sourcing Intelligence


INTRODUCTION
A smart factory is an advanced and automated manufacturing facility with cyber-physical systems ensuring efficient movement of materials across the factory floor Smart Factories basically help in the Automation of the manufacturing process. Stringent industrial regulations regarding worker’s safety in hazardous working conditions have further augmented the need for these solutions across industries. The implementation of these solutions eliminates the involvement of the workforce at the production floor which reduces the risk of industrial accidents. 

However, factors like high maintenance and initial cost and lack of skilled workforce hamper the market growth. Geographically, the Asia Pacific region is expected to dominate the Smart Factory Market over the forecasted period on account of high growth being observed in the manufacturing sector in emerging economies of China, and India. Market Research is done by the knowledge sourcing industry due to the huge scope with the respective industry.

global smart factory market
Sample view of global smart factory market share

GROWING ADOPTION OF SMART AUTOMATION SOLUTION

Factors like evolving environmental regulations, escalating energy demand, and supportive legislations drive the adoption of smart automation solutions. In addition, an increase in the competitive market owing to rapid industrialization and globalization further accelerates the need for automation in the manufacturing industry. Moreover, the evolution of IoT (Internet of Things) accelerates the demand for smart automation solutions while augmenting the smart factory market. Automation has several advantages; it reduces the labor cost, eliminates human error, increases efficiency and helps in overall business development. This drives the demand for the automated robotic machine which minimizes the wastage of raw material and reduces the operating time while augmenting the smart factory market growth.

SMART FACTORY MARKET BY  INDUSTRY
The Smart Factory Market has been segmented by the industry vertical as Oil and Gas, Chemical, Healthcare, Mining and Metal, Food and Beverage, Automotive, Manufacturing, Consumer Electronics, Aerospace and Defense, and Others. The market share of each end-user is depicted in the following pie chart:

global smart factory market
Sample view of global smart factory market share

End-user the industry for the smart factory automation sector is broadly segmented as process industries, and discrete industries. Food and beverage, healthcare, oil and gas, and chemical industries come under process industries. Automotive, manufacturing, aerospace and defense, and consumer electronics industry are categorized as discrete industries. Discrete industries account for the maximum share in the smart factory automation market as there is a significant demand for factory automation solutions for better maintenance and control of operations, and to sustain the quality of products. 

 AUTOMOTIVE
The automotive industry accounts for the largest market size of worth US$X.XXX billion in 2016 and will continue to dominate the global smart factory market, growing at a CAGR of X.XX% during the forecast period to reach a total market size of US$X.XXX billion by 2021. Automotive industry is growing rapidly with rapid urbanization, and increasing disposable income which in turn, is boosting the need for adoption of smart factory automation solutions over the forecast period. Moreover, the implementation of various automation solutions such as PLCs, SCADA, MES, and DCS to control cost, and improve the efficiency of the manufacturing plant complements the growth of smart factory automation solutions in the automotive industry. Use of industrial robots further bolsters the deployment of smart factory automation in the automotive sector.

Several other technologies offered from factory automation solution such as machine to machine communication interface supports smart automotive factories to eliminate time wastage occurred due to the delay in the process change also propel the deployment of factory automation solutions in the automotive industry. Furthermore, the growing Internet of Things (IoT) and services, and provision of integration of manufacturing and engineering processes have witnessed a tremendous growth rate. 
For instances, Ford has deployed a robotic arm with eyes during the production of Ford Escape. In the welding line of Great Wall Motors, the Chinese automotive plants which are considered as the most productive lines has introduced 27 ABB robots to work at 30 different workstations. BMW has also deployed collaborative robots to its assembly line where these robots perform the final assembly of the car doors. Robots are also being used in car paintings in many automotive factories.


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