Smart Factory Market Regional Analysis:
North American Market Insights
North America is anticipated to gain the largest smart manufacturing market share of about 46% by 2035. The market growth can be attributed to region's large industry base, advanced technical infrastructure, and a focus on innovation. To improve their effectiveness and competitiveness, North American manufacturers have been pushing for the introduction of automation and digitalization. Market growth has also been driven by the presence of several important automation solution providers and technology companies. In 2021, the manufacturing industry contributed USD 2.3 trillion to the GDP of the United States and accounted for 12.1% of total US GDP.
APAC Market Insights
Asia Pacific smart factory market is expected to record significant growth during the forecast period. This is primarily due to the presence of a strong manufacturing industry base. It has well-established industries that actively utilize smart manufacturing technologies, including the automotive, electronics, and consumer products sectors.
Additionally, the regional governments are aggressively promoting programs to advance digital transformation and industrial automation. To promote the adoption of smart industrial technology, they are making investments in research & development, providing subsidies, and putting supportive regulations in place. The market revenue is further accelerated by the domestic and international investments attracted by this advantageous regulatory environment.
