Smart Factory Market Share

North American Market Forecast

North America is anticipated to gain the largest market share of about 46% during the forecast period. The growth of the Smart Manufacturing Market can be attributed to the 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 Statistics

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's growth is further accelerated by the domestic and international investments attracted by this advantageous regulatory environment.