Smart Factory Market Size

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

The trend of automation is one of the key factors propelling the growth of market.

Increasing Adoption of the Industrial Internet of things is primarily attributed to the industry growth. In the context of industry, the IIoT is a network of connected machines, sensors, and devices that allows for real-time data gathering, processing, and sharing. Traditional manufacturing processes are revolutionized by this connectivity and data interchange, which also advances the creation of smart factories. As per our analysis, the Industrial Internet of things evaluates an industry figure of USD 544 billion in 2023. This is positively impacting the market for smart factory.

Another significant user of smart factory methods is the semiconductor industry. Rising energy costs, several environmental restrictions, and the general trend toward sustainable manufacturing are anticipated to accelerate the use of items like machine vision systems, robotics, and other technologies, driving up market demand for smart factories.