Smart Factory Market Analysis

  • Report ID: 3283
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Smart Factory Market Analysis

Product Type (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems)

The industrial robots segment is expected to account for 42% share of the global smart factory market by 2037. In driving the growth of the market, industrial robots play a key role. By combining automation, connectivity, and artificial intelligence, these advanced machines are revolutionizing the manufacturing industry. Further, every year, around 400,000 new robots enter the market.  Many advantages, such as increased productivity, greater precision, reduced costs, and improved safety, are offered by industrial robots.

Businesses may improve workflows, automate processes, and increase productivity by integrating intelligent robotics into their operations. Industrial robots can complete labor-intensive, repetitive jobs quickly and accurately, removing human error and cutting down on production downtime. Productivity is further increased by their capacity to collaborate with human workers.

End User (Automotive, Semiconductors & Electronics, Oil & Gas, Chemicals, Pharmaceutical, Aerospace & Defence, Food & Beverage)

Smart factory market from the automotive segment is anticipated to hold a major revenue share over the forecast period. Numerous manufacturers are continually concentrating on enhancing productivity, cutting expenses, and boosting efficiency as a result of increasing competition in the automotive business. Due to their ability to assist manufacturers in optimizing their production processes while reducing waste and downtime, smart factory technologies are widely favored in this context. Additionally, the preference for automation technologies to satisfy the booming market for high-quality and dependable products will increase market demand.

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

                            Product Type

  • Industrial Sensors
  •  Industrial Robots
  •  Industrial 3D Printers
  •  Machine Vision Systems

                             End User

  • Automotive
  •  Semiconductors & Electronics
  •  Oil & Gas
  •  Chemicals
  •  Pharmaceutical
  •  Aerospace & Defence
  •  Food & Beverage

                             Component

  • Solution
  • Services
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Browse Key Market Insights with Data Illustration:


Author Credits:  Shweta Patidar


  • Report ID: 3283
  • Published Date: Oct 09, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of smart factory is estimated at USD 167.28 billion.

The smart factory market size was valued at USD 154.66 billion in 2024 and is set to cross USD 546.69 billion by the end of 2037, expanding at more than 10.2% CAGR during the forecast period i.e., between 2025-2037. Increasing Adoption of Industrial IoT, penetration in the Automotive sector, and rising Digitalization will boost the market growth.

North America industry is poised to dominate majority revenue share 46% by 2037, attributed to region's large industry base, advanced technical infrastructure, and a focus on innovation.

The major players in the market are Rockwell Automation, Emerson Electric Co., Schneider Electric, Endress+Hauser Group Services AG, Inc., Siemens, Robert Bosch GmbH, Dassault Systèmes, Yokogawa Corporation, Mitsubishi Electric Corporation, and others.
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