PUBLISHER: Grand View Research | PRODUCT CODE: 1363504
PUBLISHER: Grand View Research | PRODUCT CODE: 1363504
Smart Factory Market Size, Share & Trends Analysis Report By Technology (DCS, ERP, HMI, MES, PLM, PLC, SCADA), By Field Devices (Sensors, Industrial Robotics, Machine Vision Systems), By Application, By Region, And Segment Forecasts, 2023 - 2030
Smart Factory Market Growth & Trends:
The global smart factory market size is expected to reach USD 271.91 billion by 2030, expanding at a CAGR of 9.8% from 2023 to 2030, according to a new study by Grand View Research, Inc.. The market for smart factory has experienced remarkable growth in recent years, primarily attributed to several factors. These include the increasing adoption of Industry 4.0 concepts characterized by integrating digital technologies such as the Internet of Things (IoT), AI, Machine Learning (ML), and industrial automation. These technologies enhance operational efficiency and enable real-time data analysis, fostering agile and responsive manufacturing processes.
Moreover, the need for cost optimization and resource efficiency has prompted businesses to invest in smart factory solutions, as they promise reduced downtime, minimized wastage, and improved resource allocation. Besides, the growing emphasis on sustainability and environmental concerns has led manufacturers to gravitate towards the adoption of smart factories to monitor and optimize energy consumption and reduce their carbon footprint.
Additionally, technological advancements such as integrating connected devices with IoT and cloud computing act as development factors. Automated material handling, electronic and mechanical assembly, and product testing are all made easier with these cutting-edge technologies. Force sensors are also used in smart factories to maintain constant force during polishing, buffing, and deburring, collect data for statistical process control (SPC) systems, and ensure proper component insertion. Additional aspects, including the inclusion of the Industrial Internet of Things (IIoT) and the growing usage of smart factory solutions for the production of complex automotive and medical components, are expected to propel the smart factory sector during the forecast period.
Several companies operating in the market for smart factory adopt strategies such as mergers, acquisitions, partnerships, and innovations to enhance their product offerings to cater to the larger customer base and strengthen their foothold in the industry. For instance, in October 2022, ABB Robotics launched the IRB 1010, the smallest-ever industrial robot. The compact system is developed to help electronics manufacturers improve the production of devices such as smart watches, sensors, earphones, and health trackers.
This industrial robot by ABB Robotics also comes with a high payload capacity and accuracy. The compact system is created to assist electronics manufacturers in enhancing their production of devices such as earphones, health trackers, smartwatches, and sensors through automation. Such advancements are poised to fuel the growth of the smart factory industry in the coming years.
Smart Factory Market Report Highlights:
- Based on technology, the Distributed Control Systems (DCS) segment accounted for the largest market share in 2022. This is attributed to the growing investments from the industrial sector, such as food & beverage, mining & metal, metallurgy, and electronics, in developing economies
- Based on field devices, the sensors segment is expected to expand at the highest CAGR by 2030, owing to their increasing self-sufficiency with low power consumption and integrated computing abilities
- Based on application, the automotive segment accounted for the largest revenue share in 2022 and is expected to continue the same trend over the forecast period. Automotive manufacturers are investing heavily in the development of smart manufacturing and automation to optimize production and reduce operating costs
- The Asia Pacific regional market accounted for the largest revenue share in 2022. This is attributed to the heavy investments of developing countries in smart technologies to keep abreast of international manufacturing standards and trends
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope and Assumptions
- 1.4.1 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.3.3 Market Challenges
- 3.3.4 Market Opportunities
- 3.4 Industry Analysis Tools
- 3.4.1 PORTER'S Five Forces Analysis
- 3.4.2 MACROECONOMIC Analysis
- 3.5 Smart Factory Market - COVID-19 Impact Analysis
- 3.6 Smart Factory Market - Technology Trends
Chapter 4 Technology Estimates & Trend Analysis
- 4.1 Technology Movement Analysis & Market Share, 2022 & 2030
- 4.2 Smart Factory Market Estimates & Forecast, By Technology (USD Million)
- 4.2.1 Distributed Control Systems (DCS)
- 4.2.2 Enterprise Resource Planning (ERP)
- 4.2.3 Human Machine Interface (HMI)
- 4.2.4 Manufacturing Execution System (MES)
- 4.2.5 Product Life Cycle Management (PLM)
- 4.2.6 Program Logic Controller (PLC)
- 4.2.7 Supervisory Controller and Data Acquisition (SCADA)
- 4.2.8 Others
Chapter 5 Field Devices Estimates & Trend Analysis
- 5.1 Field Devices Movement Analysis & Market Share, 2022 & 2030
- 5.2 Smart Factory Market Estimates & Forecast, By Field Devices (USD Million)
- 5.2.1 Sensors
- 5.2.2 Industrial Robotics
- 5.2.3 Machine Vision Systems
- 5.2.4 Others
Chapter 6 Application Estimates & Trend Analysis
- 6.1 Application Movement Analysis & Market Share, 2022 & 2030
- 6.2 Smart Factory Market Estimates & Forecast, By Application (USD Million)
- 6.2.1 Aerospace & Defense
- 6.2.2 Automotive
- 6.2.3 Energy & Power
- 6.2.4 Food and Beverages
- 6.2.5 Healthcare
- 6.2.6 Semiconductor & Electronics
- 6.2.7 Oil & Gas
- 6.2.8 Others
Chapter 7 Regional Estimates & Trend Analysis
- 7.1 Smart Factory Market by Region, 2022 & 2030
- 7.2 North America
- 7.2.1 North America Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.2 U.S.
- 7.2.2.1 U.S. Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.3 Canada
- 7.2.3.1 Canada Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3 Europe
- 7.3.1 Europe Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.2 Germany
- 7.3.2.1 Germany Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.3 U.K.
- 7.3.3.1 U.K. Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.4 France
- 7.3.4.1 France Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.5 Italy
- 7.3.5.1 Italy Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.6 Spain
- 7.3.6.1 Spain Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.2 China
- 7.4.2.1 China Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.3 Japan
- 7.4.3.1 Japan Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.4 India
- 7.4.4.1 India Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.5 South Korea
- 7.4.5.1 South Korea Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5 Latin America
- 7.5.1 Latin America Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5.2 Brazil
- 7.5.2.1 Brazil Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5.3 Mexico
- 7.5.3.1 Brazil Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6 Middle East & Africa (MEA)
- 7.6.1 MEA Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6.2 Saudi Arabia
- 7.6.2.1 Saudi Arabia Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6.3 UAE
- 7.6.3.1 UAE Smart Factory Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Smart Factory Market - Competitive Landscape
- 8.1 Key Market Participants
- 8.1.1 ABB, Ltd.
- 8.1.2 Dassault Systemes S.E
- 8.1.3 FANUC Corporation
- 8.1.4 General Electric Company
- 8.1.5 Honeywell International, Inc.
- 8.1.6 Johnson Controls, Inc.
- 8.1.7 KUKA AG
- 8.1.8 Mitsubishi Electric Corporation
- 8.1.9 Rockwell Automation, Inc.
- 8.1.10 Schneider Electric SE
- 8.1.11 Canon Inc.
- 8.1.12 Cisco System Inc.
- 8.1.13 Emerson Electric Co.
- 8.2 Recent Development & Impact Analysis, By Key Market Participants
- 8.3 Company Categorization
- 8.4 Participant's Overview
- 8.5 Financial Performance
- 8.6 Product Benchmarking
- 8.7 Company Heat Map Analysis
- 8.8 Strategy Mapping
- 8.8.1 Partnerships
- 8.8.2 Mergers & Acquisitions
- 8.8.3 New Product/Feature Launches
- 8.8.4 Certifications
- 8.5 Expansions
List of Tables
- Table 1 Key market driver impact
- Table 2 Key market restraint impact
- Table 3 Global Smart Factory market revenue estimates and forecast, by technology, 2018 - 2030 (USD Million)
- Table 4 Global Smart Factory market revenue estimates and forecast, by field devices, 2018 - 2030 (USD Million)
- Table 5 Global Smart Factory market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
- Table 6 Company heat map analysis
- Table 7 Key Companies Undergoing Partnerships
- Table 8 Key companies involved in mergers & acquisitions
- Table 9 Key companies involved in new product launches
List of Figures
- Fig. 1 Smart factory market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot
- Fig. 8 Industry Snapshot
- Fig. 9 Smart factory market value, 2022 (USD Million)
- Fig. 10 Value chain analysis
- Fig. 11 Market dynamics
- Fig. 12 Smart Factory market: Porter's Five Forces analysis
- Fig. 13 Smart Factory market: PESTEL analysis
- Fig. 14 Smart Factory market, by technology, key takeaways, 2018 - 2030, Revenue (USD Million)
- Fig. 15 Smart Factory market, by technology: market share, 2022 & 2030
- Fig. 16 Distributed Control Systems (DCS) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Enterprise Resource Planning (ERP) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Human Machine Interface (HMI) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Manufacturing Execution System (MES) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Product Life Cycle Management (PLM) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 21 Program Logic Controller (PLC) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Supervisory Controller and Data Acquisition (SCADA) market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Smart Factory market, by field devices, key takeaways, 2018 - 2030, Revenue (USD Million)
- Fig. 25 Smart Factory market, by field devices: market share, 2022 & 2030
- Fig. 26 Sensors market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Industrial Robotics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 28 Machine Vision Systems market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Smart Factory market, by application, key takeaways, 2018 - 2030, Revenue (USD Million)
- Fig. 31 Smart Factory market, by application: market share, 2022 & 2030
- Fig. 32 Aerospace & Defense market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Automotive market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 34 Energy & Power market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Food and Beverages market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 36 Healthcare market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 37 Semiconductor & Electronics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 38 Oil & Gas market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 39 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 40 Regional marketplace: Key takeaways
- Fig. 41 North America Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 42U.S. Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 43 Canada Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 44 Europe Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 45 Germany Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 46 U.K. Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 47 France Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 48 Italy Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 49 Spain Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 50 Asia Pacific Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 51 China Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 52 Japan Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 53 India Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 54 South Korea Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 55 Latin America Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 56 Brazil Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 57 Mexico Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 58 MEA Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 59 Saudi Arabia Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 60 UAE Smart Factory market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 61 Key company categorization
- Fig. 62 Strategy framework
