ASEAN and India Smart Factory Market Analysis

By Industry Vertical (Automotive, Semiconductor & Electronics, Machine Manufacturing, Medical Devices, Pharmaceuticals, Chemicals, Energy and Power, Food and Beverages, Others)

The ASEAN and India smart factory market is segmented and analyzed for demand and supply by industry vertical into automotive, semiconductor & electronics, machine manufacturing, medical devices, and others. In the ASEAN smart factory market, the automotive segment is anticipated to garner the highest revenue of USD 5,985.7 Million by the end of 2031, up from a revenue of USD 1,877.0 Million in the year 2021. Further, in the India smart factory market, the automotive segment is anticipated to garner the highest revenue of USD 3839.3 Million by the end of 2031, up from a revenue of USD 1059.1 Million in the year 2021. Growing automotive sector is expected to influence the growth of this segment in both these regions. Further, rise in key player’s initiatives in the automotive sector is also anticipated to drive the segment growth. For instance, in order to establish dominance in the global battery electric vehicle (BEV) market, LG Energy Solution Ltd. and Hyundai Motor Group (the Group) started building an electric vehicle (EV) battery cell plant in Indonesia in 2021.

By Solution (SCADA, Product Lifecycle Management (PLM), Human Machine Interface, Industrial Safety Manufacturing Execution System (MES), Others)

The ASEAN and India smart factory market is also segmented and analyzed for demand and supply by solution into SCADA, product lifecycle management (PLM), human machine interface, industrial safety, manufacturing execution system (MES), and others. In the ASEAN smart factory market, the SCADA segment is anticipated to hold the largest market revenue of USD 6,550.7 Million by the end of 2031, up from a revenue of USD 2,083.4 Million in the year 2021. Further, in India smart factory market, the SCADA segment is anticipated to hold the largest market revenue of USD 4840.9 Million by the end of 2031, up from a revenue of USD 1346.2 Million in the year 2021. However, in both these regions, the industrial safety segment is anticipated to grow at a highest CAGR of 13.9% and 15.1% respectively over the forecast period, backed by the growing need for safety of industrial workers from various hazards. Hazardous substances, tiny particles, radiation, heatstroke, and catastrophic falls are constant threats to industrial workers. Hence, the adoption of various emerging technologies which includes advanced sensors, artificial intelligence (AI), augmented reality, and computer vision are extensively growing by various manufacturing industry. These technologies, when used in tandem as a networked IIoT system, give the organization the insight and intelligence needed to identify risks, stop injuries from happening, and lower total risk, enabling them to create a sort of safety net for their workers. 

Our in-depth analysis of the global market includes the following segments: