Smart Factory Market

Smart Factory Market With COVID-19 Impact by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, PAM, MES, Industrial Safety), Industry, and Region - Global Forecast to 2026

Report Code: SE 3068 May, 2021, by marketsandmarkets.com

[248 Pages Report] The smart factory market size is projected to reach USD 134.9 billion by 2026 from an estimated USD 80.1 billion in 2021, at a CAGR of 11.0% from 2021 to 2026. Rising demand for technologies such as IoT and artificial intelligence in industrial environments, growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations, increasing demand for industrial robots, and fiscal policies to keep manufacturing facilities afloat amidst COVID-19 crisis are among the factors driving the growth of the smart factory market.

Smart Factory Market

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Smart Factory Market

COVID-19 Impact on the Global Smart Factory Market

In 2020, COVID-19 had a negative effect on the smart factory market, resulting in decreased shipments of component and solution of smart factory and the revenues generated from them. As a result, a drop was witnessed in the growth trend of the market during the first half of 2020. This trend is expected to discontinue in the latter half of the year as the demand is expected to increase due to the growing concern for smart automation, energy and resource efficiency.

The COVID-19 pandemic has substantially impacted the value chain of the smart factory market. The US, China, South Korea, and Japan, which have been adversely affected by the pandemic, account for a significant share of the global smart factory manufacturing. The discrete industries and process industries are witnessing a low demand, which is expected to continue for the short term due to the global slowdown.

Market Dynamics

Driver: Increasing demand for industrial robots

Industrial robots perform tasks such as electronic and mechanical assembly, product testing, and materials handling. Force sensors help industrial robots in verifying part insertion; holding constant force during buffing, polishing, and deburring; collecting force data for loT testing and statistical process control (SPC), and performing many other functions.

Increasing miniaturization of sensors, growing investments in automation (in automotive, electrical & electronics, and metals & machinery industries), and rising demand for industrial robotics systems in developing countries are the factors driving the growth of the industrial robots market. This is expected to increase the demand for industrial sensors and support the growth of the smart factory market during the review period.

Restraint: Requirement of significant capital investments

The transformation of a traditional manufacturing facility into a highly advanced smart manufacturing unit requires huge capital investments for the implementation of advanced machinery, software systems, and IT infrastructure, which are required for the smooth functioning of industrial automation equipment such as smart field devices and industrial robots, along with advanced communication technologies. This transformation may lead to a financial burden on industries operating in price-sensitive economies such as APAC and South America.

According to industry experts, cost, including expenses involved in the upgrade of traditional systems, is one of the restraining factors in the transition toward a smart factory. It is not feasible for several companies to upgrade their existing systems due to high costs. Furthermore, automation software systems used in industries require timely maintenance and upgrade. It is not feasible for small businesses to bear such expenses.

Opportunity: Growing number of developments in wireless sensor networks and their adoption in smart factories

A wireless network integrated with distributed autonomous devices consisting of sensors to monitor physical or environmental conditions is known as a wireless sensor network (WSN). WSNs are used in industries such as oil & gas, pharmaceuticals, and water & wastewater treatment. Oil & gas plants are generally located in remote areas with rough environmental conditions. In an oil & gas plant, tanks, compressors, generators, and separators are monitored, managed, and controlled by a SCADA system with the help of sensors deployed in a WSN. The use of a WSN reduces the costs associated with implementing a sensor network and communication system. Wired technology is comparatively costlier than its wireless counterpart due to the increased hardware requirement such as cables, networking devices, routers, and network adapters. Parameters such as pressure, temperature, flow, and level of fluids and gases in plant operations are measured and detected using a WSN. Using a WSN in SCADA and other smart factory components and solutions enables real-time data monitoring and process control. Thus, the growing R&D on WSN and its active adoption in smart factories would increase the application areas of smart factories. Also, the frequent software updates for wireless sensor networks make them apt for the current automated systems in the industries adopting smart factory components and solutions.

Challenge: Interoperability between information technology (IT) and operational technology (OT)

The biggest challenge in implementing smart factory solutions is the lack of interoperability between IT and OT. IT and OT use different protocols and architecture, which significantly increases the complexity and costs associated with the adoption of smart factories. Most OT systems today work in silos. However, a smart factory demands a fully functional digital ecosystem for seamless data sharing between machines and other physical systems of different manufacturers.

Furthermore, most companies have invested heavily in expensive industrial equipment having longevity. The equipment was designed to operate in a standalone manner, which is the main pain point for end users, as such equipment fail to fit in the IIoT ecosystem. This leads to the need for costly retrofitting or replacement to work best with the latest technologies that will be compatible with the IIoT ecosystem.

Industrial 3D printers segment is projected to register the highest CAGR from 2021 to 2026

The industrial 3D printing segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption in industries such as automotive, aerospace & defense, food & beverages, and semiconductor & electronics. In the food & beverages industry, 3D printing technology is majorly used to manufacture molds for different types of food such as chocolates, hard candies, and cakes. This encourages the growth of the market for industrial 3D printing for the food & beverages industry. The ability of 3D printers to produce lightweight, cost-effective parts with high precision makes it a preferred choice for the aerospace & defense sector, increasing its use in the industry. For instance, NASA uses fused deposition modeling (FDM) technology for 3D printing of prototypes to test the form, fit, and function of parts to ensure that the machined parts have the best possible designs before committing to expensive tooling.

PAM solution is projected to register the highest CAGR from 2021 to 2026

The PAM segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing deployment of PAM solutions in process and discrete industries to build a comprehensive data repository related to different equipment installed in these plants, right from their uptime performance to their life cycle cost assessment.

Food & beverages process industry is projected to register the highest CAGR from 2021 to 2026

The latest technological methods such as 3D food printing and machine vision are changing the manufacturing processes of the food & beverages industry. The main aim of the stakeholders involved in the manufacturing and distribution chain of this is to offer high-quality products while keeping the production, maintenance, and distribution costs low. The automation technologies used in the food & beverages industry offer design flexibility, innovative and integrated safety solutions, and advanced software tools for controlling the operations of machines.

Medical devices discrete industry is projected to register the highest CAGR from 2021 to 2026

The medical devices industry is driven by innovations and technological advancements. The industry has witnessed significant growth owing to the development of state-of-the-art medical devices through novel technologies. In the medical devices industry, smart factory solutions help improve manufacturing processes, planning, technology assessment, third-party services, and remote support. Smart factory technologies also help reduce recalls and wastes, and increase the profitability of the companies engaged in the manufacturing of medical devices due to precision in manufacturing.

Smart Factory Market by Region

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APAC to lead smart factory market in 2020

The APAC smart factory is projected to grow at the highest CAGR, driven by the increasing adoption of automation technologies across industrial sectors in China and India. Factory automation is increasing in China, due to high labor wages and the presence of a large number of automotive manufacturing plants. Growing population, rising standards of living, and developing economies have led to the rising demand for energy. It is estimated that APAC could drive approximately 65% of the global energy demand by 2035, with China and India collectively expected to fulfill 40% of the demand. Oil and gas companies in North America and Europe have started investing in APAC to fulfill the growing energy demand. The increasing energy demand would lead to the development of the energy sector, including oil & gas and power industries. This, in turn, would generate demand for automation products in the APAC region.

Key Market Players

ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), Emerson Electric Co. (US), General Electric (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), Honeywell International Inc. (US), and Yokogawa Electric Corp. (Japan) are among a few major players in the smart factory market.

Report Scope

Report Metric

Details

Years considered to provide market size

2017–2026

Forecast Period

2021–2026

Segments Covered

Component, Solution, Industry, and Region

Geographies Covered

North America, Europe, APAC, and RoW

 Companies Covered

ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), Emerson Electric Co. (US), General Electric (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), Honeywell International Inc. (US), and Yokogawa Electric Corp. (Japan)

This research report segments the smart factory market based on component, solution, industry, and region.

By Component:

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

By Solution

  • SCADA
  • PAM
  • MES
  • Industrial Safety

By Industry

  • Process Industries
    • Oil & Gas
    • Chemicals
    • Pharmaceuticals
    • Energy & Power
    • Metals & Mining
    • Pulp & Paper
    • Food & Beverages
    • Others (cement, glass, forging, water & wastewater management, precision engineering, ceramics & stone, and wood industries)
  • Discrete Industries
    • Automotive
    • Aerospace & Defense
    • Semiconductor & Electronics
    • Machine Manufacturing
    • Medical Devices
    • Others (printing, packaging, consumer goods & consumer electronics, jewelry, solar panel manufacturing, and textile)

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East and Africa
    • South America

Recent Developments

  • In March 2021GE Digital introduced enhancements in CIMPLICITY and Tracker software that provide critical decision support for operators to make them more efficient. CIMPLICITY HMI/SCADA provides client-server visualization to precisely monitor and control operations. Tracker, part of GE Digital’s Proficy Manufacturing Execution Systems (MES) offering, automates routing and sequencing to accelerate time to market, reduce warranty and recall exposure, and support Lean operations and building right the first time.
  • In March 2021, Stratasys introduced a new 3D printer that gives dental labs 3D printing efficiency paired with PolyJet’s realism and precision. The J5 DentaJet 3D printer is the only multi-material dental 3D printer that allows technicians to load mixed trays of dental parts
  • In March 2021, ABB and ETH Zurich expanded their partnership in robotics research as part of ETH’s RobotX initiative. The RobotX initiative, launched in 2019, is intended to position ETH as a leader among robotics research institutions. The effort will be supported by ABB’s Robotics and Discrete Automation business.
  • In March 2021, Stratasys has partnered with Xometry to provide several new high-performance nylon material options to customers of Xometry’s global custom manufacturing marketplace. Xometry’s customer base of startups to Fortune 100 companies is now able to tap Stratasys Direct’s deep expertise and substantial manufacturing capacity in SLS 3D printing.
  • In June 2020, Salesforce (NYSE: CRM) and Siemens announced a strategic partnership to develop a new workplace technology suite that will support businesses globally to safely reopen and deliver the future experience for physical workplaces. The partnership will combine Salesforce’s Work.com, powered by Customer 360, and Siemens’ Smart Infrastructure solutions, including Comfy and Enlighted, to orchestrate the processes, people, and things essential to creating safe, connected workplaces for the future .

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 MARKET STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 INTRODUCTION
        FIGURE 1 SMART FACTORY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION
        FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE FROM COMPONENTS AND SOLUTIONS OF SMART FACTORY MARKET
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Estimating market size using bottom-up approach
                            FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Estimating market size using top-down approach
                            FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
        FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
        FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY
    2.5 RISK ASSESSMENT
        TABLE 1 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 47)
  FIGURE 7 KEY STAGES IN SMART FACTORY ADOPTION
  FIGURE 8 ANALYSIS OF IMPACT OF COVID-19 ON SMART FACTORY MARKET
    3.1 REALISTIC SCENARIO
    3.2 PESSIMISTIC SCENARIO
    3.3 OPTIMISTIC SCENARIO
        FIGURE 9 INDUSTRIAL SENSORS COMPONENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2020
        FIGURE 10 MES SOLUTION IS EXPECTED TO HOLD LARGEST MARKET SHARE BY 2026
        FIGURE 11 PROCESS INDUSTRY ACCOUNTED FOR LARGER MARKET SHARE IN 2020
        FIGURE 12 APAC SMART FACTORY MARKET TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES IN SMART FACTORY MARKET
        FIGURE 13 INCREASING DEMAND FOR IOT AND AI IS FUELING GROWTH OF SMART FACTORY MARKET
    4.2 SMART FACTORY MARKET, BY COMPONENT
        FIGURE 14 INDUSTRIAL SENSORS TO ACCOUNT FOR LARGEST SHARE OF COMPONENT SEGMENT OF SMART FACTORY MARKET FROM 2021 TO 2026
    4.3 SMART FACTORY MARKET, BY SOLUTION
        FIGURE 15 MES TO ACCOUNT FOR LARGEST SIZE OF SMART FACTORY MARKET FROM 2021 TO 2026
    4.4 SMART FACTORY MARKET, BY INDUSTRY
        FIGURE 16 DISCRETE INDUSTRY TO ACCOUNT FOR LARGER MARKET SIZE BY 2026
    4.5 SMART FACTORY MARKET, BY GEOGRAPHY
        FIGURE 17 US ACCOUNTED FOR LARGEST SHARE OF SMART FACTORY MARKET IN 2020

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 18 SMART FACTORY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations
                    5.2.1.2 Increasing demand for industrial robots
                    5.2.1.3 Rising demand for technologies such as IoT and artificial intelligence in industrial environments
                    5.2.1.4 Fiscal policies to keep manufacturing facilities afloat amidst COVID-19 crisis
                            FIGURE 19 DRIVERS FOR SMART FACTORY MARKET AND THEIR IMPACT
           5.2.2 RESTRAINTS
                    5.2.2.1 Requirement of significant capital investments
                    5.2.2.2 Security risks associated with cyber-physical systems
                            FIGURE 20 RESTRAINTS FOR SMART FACTORY MARKET AND THEIR IMPACT
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing significance of remote operating requirements owing to COVID-19 outbreak
                    5.2.3.2 Growing number of developments in wireless sensor networks and their adoption in smart factories
                            FIGURE 21 OPPORTUNITIES FOR SMART FACTORY MARKET AND THEIR IMPACT
           5.2.4 CHALLENGES
                    5.2.4.1 Interoperability between information technology (IT) and operational technology (OT)
                    5.2.4.2 Vulnerability to cyberattacks
                            FIGURE 22 CHALLENGES FOR SMART FACTORY MARKET AND THEIR IMPACT
    5.3 VALUE CHAIN ANALYSIS
        FIGURE 23 VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM
        FIGURE 24 SMART FACTORY MARKET: ECOSYSTEM
        TABLE 2 COMPANIES AND THEIR ROLE IN SMART FACTORY ECOSYSTEM
    5.5 YC-YCC SHIFT: SMART FACTORY MARKET
    5.6 PORTER’S FIVE FORCES ANALYSIS
        TABLE 3 IMPACT OF EACH FORCE ON SMART FACTORY MARKET
    5.7 CASE STUDY
           5.7.1 WOODSIDE ENERGY USED EXR-1 ROBOTS TO ENHANCE SAFETY OF EMPLOYEES AND OPERATIONS AT HAZARDOUS LOCATIONS
           5.7.2 INS HELPED ARB MIDSTREAM DEPLOY SCADA SOLUTIONS FOR A NEW PIPELINE
           5.7.3 RENISHAW HELPED HIETA MOVE METAL ADDITIVE MANUFACTURING (AM) FROM PROTOTYPE MANUFACTURE INTO COMMERCIAL PRODUCTION FOR ITS SPECIALIST RANGE OF HEAT EXCHANGERS
           5.7.4 AVEVA HELPED CITY OF BARCELONA EFFECTIVELY MANAGE RESOURCES AND INTEGRATE NEW PROCESSES AND FACILITIES
    5.8 TECHNOLOGY ANALYSIS
           5.8.1 ARTIFICIAL INTELLIGENCE
                    5.8.1.1 Optimizing steel production with AI
           5.8.2 AUGMENTED REALITY
                    5.8.2.1 Augmented reality in smart factory
           5.8.3 BLOCKCHAIN
                    5.8.3.1 Blockchain in factories of future
           5.8.4 5G
                    5.8.4.1 5G and multi-access edge computing (MEC) will help keep factory workers informed
           5.8.5 PREDICTIVE MAINTENANCE
                    5.8.5.1 Maximum utilization using predictive maintenance
           5.8.6 SMART ENERGY MANAGEMENT
                    5.8.6.1 Energy management for smart factories
           5.8.7 EDGE COMPUTING
                    5.8.7.1 Transformation of smart factories requires edge computing
           5.8.8 PREDICTIVE SUPPLY CHAIN
                    5.8.8.1 Predictive supply chain in smart factories
           5.8.9 CYBERSECURITY
                    5.8.9.1 Protecting smart production lines
           5.8.10 DIGITAL TWIN
                    5.8.10.1 Digital twin as foundation of Industry 4.0
           5.8.11 IOT
                    5.8.11.1 IoT connectivity for smart factory
    5.9 PRICING ANALYSIS
           5.9.1 INDUSTRIAL SAFETY COMPONENTS
                 TABLE 4 AVERAGE SELLING PRICE OF COMPONENTS
           5.9.2 INDUSTRIAL ROBOTS
                 TABLE 5 PRICE RANGE OF INDUSTRIAL ROBOTS
           5.9.3 INDUSTRIAL 3D PRINTING
                 TABLE 6 PRICE RANGE OF INDUSTRIAL 3D PRINTERS
           5.9.4 INDUSTRIAL SENSORS
                 TABLE 7 PRICE RANGE OF INDUSTRIAL SENSORS
           5.9.5 INDUSTRIAL MACHINE VISION SYSTEMS
                 TABLE 8 PRICE RANGE OF MACHINE VISION SYSTEMS
    5.10 TRADE ANALYSIS
         FIGURE 25 IMPORTS DATA FOR INDUSTRIAL ROBOTS, 2016–2020 (USD MILLION)
         FIGURE 26 EXPORTS DATA FOR INDUSTRIAL ROBOTS, 2016–2020 (USD MILLION)
         TABLE 9 IMPORTS OF INDUSTRIAL ROBOTS, BY REGION, 2015–2019 (USD MILLION)
    5.11 PATENTS ANALYSIS
         FIGURE 27 NO. OF PATENTS GRANTED PER YEAR FROM 2011 TO 2020
         FIGURE 28 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
         TABLE 10 TOP PATENT OWNERS IN LAST 10 YEARS (US)
    5.12 REGULATORY LANDSCAPE
           5.12.1 STANDARDS
                  TABLE 11 MAJOR COMMUNICATION STANDARDS FOR SCADA SYSTEMS
                  TABLE 12 INDUSTRIAL SAFETY STANDARDS

6 SMART FACTORY MARKET, BY COMPONENT (Page No. - 79)
    6.1 INTRODUCTION
        FIGURE 29 SMART FACTORY MARKET, BY COMPONENT
        TABLE 13 SMART FACTORY MARKET, BY COMPONENT, 2017–2020 (USD BILLION)
        TABLE 14 SMART FACTORY MARKET, BY COMPONENT, 2021–2026 (USD BILLION)
    6.2 INDUSTRIAL SENSORS
        TABLE 15 SMART FACTORY MARKET FOR COMPONENTS, BY SENSOR TYPE, 2017–2020 (USD MILLION)
        TABLE 16 SMART FACTORY MARKET FOR COMPONENTS, BY SENSOR TYPE, 2021–2026 (USD MILLION)
        TABLE 17 SMART FACTORY MARKET FOR SENSORS, BY TYPE, 2017–2020 (USD MILLION)
        TABLE 18 SMART FACTORY MARKET FOR SENSORS, BY TYPE, 2021–2026 (USD MILLION)
           6.2.1 LEVEL SENSORS
                    6.2.1.1 Level sensors are used to detect and measure level of liquids, bulk solids, and other fluids
           6.2.2 TEMPERATURE SENSORS
                    6.2.2.1 Growing use in process and non-process industrial applications drives demand for temperature sensors
           6.2.3 FLOW SENSORS
                    6.2.3.1 Flow sensors are used to measure rate of fluid flow, either directly or inferentially
           6.2.4 POSITION SENSORS
                    6.2.4.1 Application areas of position sensors are increasing with technological advancements
           6.2.5 PRESSURE SENSORS
                    6.2.5.1 Applications of pressure sensors are increasing in semiconductor processing, robotics, and test & measurement
           6.2.6 FORCE SENSORS
                    6.2.6.1 Use of force sensors is increasing in various industrial applications
           6.2.7 HUMIDITY & MOISTURE SENSORS
                    6.2.7.1 High demand in chemicals, pharmaceuticals, oil & gas, and food & beverages industries drives this segment
           6.2.8 IMAGE SENSORS
                    6.2.8.1 Growth of image sensors market is primarily driven by machine vision system application
           6.2.9 GAS SENSORS
                    6.2.9.1 Gas sensors are used in industries to measure concentration of different gases in air or inside a system
                            TABLE 19 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                            TABLE 20 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                            TABLE 21 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                            TABLE 22 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                            TABLE 23 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY REGION, 2017–2020 (USD MILLION)
                            TABLE 24 SMART FACTORY MARKET FOR INDUSTRIAL SENSORS, BY REGION, 2021–2026 (USD MILLION)
    6.3 INDUSTRIAL ROBOTS
           6.3.1 TRADITIONAL INDUSTRIAL ROBOTS
                 TABLE 25 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 26 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 27 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 28 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 29 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 30 SMART FACTORY MARKET FOR TRADITIONAL ROBOTS, BY REGION, 2021–2026 (USD MILLION)
                    6.3.1.1 Articulated robots
                    6.3.1.2 Cartesian robots
                    6.3.1.3 Selective compliance assembly robot arm (SCARA)
                    6.3.1.4 Cylindrical robots
                    6.3.1.5 Other robots
           6.3.2 COLLABORATIVE ROBOTS
                    6.3.2.1 Collaborative robots have highest adoption rate among all industrial robots
                            TABLE 31 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                            TABLE 32 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                            TABLE 33 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                            TABLE 34 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                            TABLE 35 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY REGION, 2017–2020 (USD MILLION)
                            TABLE 36 SMART FACTORY MARKET FOR COLLABORATIVE ROBOTS, BY REGION, 2021–2026 (USD MILLION)
    6.4 INDUSTRIAL 3D PRINTING
           6.4.1 EVOLUTION OF INDUSTRIAL 3D PRINTING TO DRIVE SMART FACTORY MARKET
                 TABLE 37 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY OFFERING, 2017–2020 (USD MILLION)
                 TABLE 38 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY OFFERING, 2021–2026 (USD MILLION)
                 TABLE 39 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                 TABLE 40 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2021–2026 (USD MILLION)
                 TABLE 41 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS, 2017–2020 (USD MILLION)
                 TABLE 42 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS, 2021–2026 (USD MILLION)
                 TABLE 43 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 44 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 45 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 46 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 47 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 48 SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY REGION, 2021–2026 (USD MILLION)
    6.5 MACHINE VISION SYSTEMS
        TABLE 49 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY PRODUCT, 2017–2020 (USD MILLION)
        TABLE 50 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY PRODUCT, 2021–2026 (USD MILLION)
        TABLE 51 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY COMPONENT, 2017–2020 (USD MILLION)
        TABLE 52 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY COMPONENT, 2021–2026 (USD MILLION)
        TABLE 53 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY HARDWARE, 2017–2020 (USD MILLION)
        TABLE 54 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY HARDWARE, 2021–2026 (USD MILLION)
        TABLE 55 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 56 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 57 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 58 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 59 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY REGION, 2017–2020 (USD MILLION)
        TABLE 60 SMART FACTORY MARKET FOR MACHINE VISION SYSTEMS, BY REGION, 2021–2026 (USD MILLION)
           6.5.1 CAMERAS
                    6.5.1.1 Digital cameras
                    6.5.1.2 Smart cameras
           6.5.2 FRAME GRABBERS, OPTICS, AND LED LIGHTING
                    6.5.2.1 Demand for LED and laser lighting is increasing in industrial environments
           6.5.3 PROCESSORS AND SOFTWARE
                    6.5.3.1 Processors and software are important parts of machine vision systems

7 SMART FACTORY MARKET, BY SOLUTION (Page No. - 104)
    7.1 INTRODUCTION
        FIGURE 30 MES SEGMENT TO ACCOUNT FOR LARGEST SIZE OF SMART FACTORY MARKET, BY SOLUTION, FROM 2021 TO 2026
        TABLE 61 SMART FACTORY MARKET, BY SOLUTION, 2017–2020 (USD BILLION)
        TABLE 62 SMART FACTORY MARKET, BY SOLUTION, 2021–2026 (USD BILLION)
    7.2 MANUFACTURING EXECUTION SYSTEM (MES)
        TABLE 63 SMART FACTORY MARKET FOR MES, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 64 SMART FACTORY MARKET FOR MES, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 65 SMART FACTORY MARKET FOR MES, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 66 SMART FACTORY MARKET FOR MES, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 67 SMART FACTORY MARKET FOR MES, BY REGION, 2017–2020 (USD MILLION)
        TABLE 68 SMART FACTORY MARKET FOR MES, BY REGION, 2021–2026 (USD MILLION)
           7.2.1 INCREASING ADOPTION OF MANUFACTURING EXECUTION SYSTEMS TO OFFER BENEFITS TO PROCESS AND DISCRETE INDUSTRIES
    7.3 SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
           7.3.1 SHIFT TOWARD DEVELOPMENT OF SCADA APP FOR SMARTPHONES TO BOOST SMART FACTORY MARKET GROWTH
                 TABLE 69 SMART FACTORY MARKET FOR SCADA, BY OFFERING, 2017–2020 (USD MILLION)
                 TABLE 70 SMART FACTORY MARKET FOR SCADA, BY OFFERING, 2021–2026 (USD MILLION)
                 TABLE 71 SMART FACTORY MARKET FOR SCADA, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 72 SMART FACTORY MARKET FOR SCADA, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 73 SMART FACTORY MARKET FOR SCADA, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 74 SMART FACTORY MARKET FOR SCADA, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 75 SMART FACTORY MARKET FOR SCADA, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 76 SMART FACTORY MARKET FOR SCADA, BY REGION, 2021–2026 (USD MILLION)
    7.4 PLANT ASSET MANAGEMENT (PAM)
        TABLE 77 SMART FACTORY MARKET FOR PAM, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 78 SMART FACTORY MARKET FOR PAM, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 79 SMART FACTORY MARKET FOR PAM, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 80 SMART FACTORY MARKET FOR PAM, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
        TABLE 81 SMART FACTORY MARKET FOR PAM, BY REGION, 2017–2020 (USD MILLION)
        TABLE 82 SMART FACTORY MARKET FOR PAM, BY REGION, 2021–2026 (USD MILLION)
           7.4.1 PAM SOLUTIONS HELP PREDICT FAILURES AND AVOID SUBSEQUENT LOSSES
    7.5 INDUSTRIAL SAFETY
           7.5.1 EMERGENCY SHUTDOWN SYSTEM TO HOLD THE LARGEST MARKET SHARE BY SYSTEM OF INDUSTRIAL SAFETY
                 TABLE 83 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY COMPONENT, 2017–2020 (USD MILLION)
                 TABLE 84 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY COMPONENT, 2021–2026 (USD MILLION)
                 TABLE 85 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY SYSTEM, 2017–2020 (USD MILLION)
                 TABLE 86 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY SYSTEM, 2021–2026 (USD MILLION)
                 TABLE 87 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 88 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 89 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                 TABLE 90 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                 TABLE 91 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY REGION, 2017–2020 (USD MILLION)
                 TABLE 92 SMART FACTORY MARKET FOR INDUSTRIAL SAFETY, BY REGION, 2021–2026 (USD MILLION)

8 SMART FACTORY MARKET, BY INDUSTRY (Page No. - 119)
    8.1 INTRODUCTION
        FIGURE 31 SMART FACTORY MARKET, BY INDUSTRY
        TABLE 93 SMART FACTORY MARKET, BY INDUSTRY, 2017–2020 (USD BILLION)
        TABLE 94 SMART FACTORY MARKET, BY INDUSTRY, 2021–2026 (USD BILLION)
    8.2 PROCESS INDUSTRY
        TABLE 95 SMART FACTORY MARKET, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 96 SMART FACTORY MARKET, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
        FIGURE 32 FOOD & BEVERAGES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           8.2.1 OIL & GAS
                    8.2.1.1 Increase in demand for remote monitoring solutions due to growing number of drilling operations in remote offshore locations
                            TABLE 97 SMART FACTORY MARKET FOR OIL & GAS INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 98 SMART FACTORY MARKET FOR OIL & GAS INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 99 SMART FACTORY MARKET FOR OIL & GAS INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 100 SMART FACTORY MARKET FOR OIL & GAS INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.2 CHEMICALS
                    8.2.2.1 Growth of smart factory market is driven by increasing automation in chemicals industry
                            TABLE 101 SMART FACTORY MARKET FOR CHEMICALS INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 102 SMART FACTORY MARKET FOR CHEMICALS INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 103 SMART FACTORY MARKET FOR CHEMICALS INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 104 SMART FACTORY MARKET FOR CHEMICALS INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.3 PULP & PAPER
                    8.2.3.1 Rising adoption of digitalization in paper manufacturing to drive adoption of smart manufacturing solutions
                            TABLE 105 SMART FACTORY MARKET FOR PULP & PAPER INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 106 SMART FACTORY MARKET FOR PULP & PAPER INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 107 SMART FACTORY MARKET FOR PULP & PAPER INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 108 SMART FACTORY MARKET FOR PULP & PAPER INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.4 PHARMACEUTICALS
                    8.2.4.1 Increasing implementation of automated processes to ensure sophisticated manufacturing process
                            TABLE 109 SMART FACTORY MARKET FOR PHARMACEUTICALS INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 110 SMART FACTORY MARKET FOR PHARMACEUTICALS INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 111 SMART FACTORY MARKET FOR PHARMACEUTICALS INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 112 SMART FACTORY MARKET FOR PHARMACEUTICALS INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.5 METALS & MINING
                    8.2.5.1 Rising demand for predictive maintenance encourages adoption of smart factory solutions
                            TABLE 113 SMART FACTORY MARKET FOR METALS & MINING INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 114 SMART FACTORY MARKET FOR METALS & MINING INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 115 SMART FACTORY MARKET FOR METALS & MINING INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 116 SMART FACTORY MARKET FOR METALS & MINING INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.6 FOOD & BEVERAGES
                    8.2.6.1 Rapid technological developments in food & beverages industry are driving smart factory market
                            TABLE 117 SMART FACTORY MARKET FOR FOOD & BEVERAGES INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 118 SMART FACTORY MARKET FOR FOOD & BEVERAGES INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 119 SMART FACTORY MARKET FOR FOOD & BEVERAGES INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 120 SMART FACTORY MARKET FOR FOOD & BEVERAGES INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.7 ENERGY & POWER
                    8.2.7.1 Increasing demand for advanced monitoring solutions drives demand for smart technologies in energy & power industry
                            TABLE 121 SMART FACTORY MARKET FOR ENERGY & POWER INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 122 SMART FACTORY MARKET FOR ENERGY & POWER INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 123 SMART FACTORY MARKET FOR ENERGY & POWER INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 124 SMART FACTORY MARKET FOR ENERGY & POWER INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.2.8 OTHER PROCESS INDUSTRIES
                    8.2.8.1 Growing demand for process control solutions due to increasing importance of product quality and production efficiency in cement industry
                            TABLE 125 SMART FACTORY MARKET FOR OTHER PROCESS INDUSTRIES, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 126 SMART FACTORY MARKET FOR OTHER PROCESS INDUSTRIES, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 127 SMART FACTORY MARKET FOR OTHER PROCESS INDUSTRIES, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 128 SMART FACTORY MARKET FOR OTHER PROCESS INDUSTRIES, BY SOLUTION, 2021–2026 (USD MILLION)
    8.3 DISCRETE INDUSTRY
        TABLE 129 SMART FACTORY MARKET, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
        TABLE 130 SMART FACTORY MARKET, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
        FIGURE 33 AUTOMOTIVE INDUSTRY TO HOLD LARGEST MARKET SHARE BY 2021
           8.3.1 AUTOMOTIVE
                    8.3.1.1 Increasing investments by key automotive manufacturers for deployment of smart factory solutions drive market growth
                            TABLE 131 SMART FACTORY MARKET FOR AUTOMOTIVE INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 132 SMART FACTORY MARKET FOR AUTOMOTIVE INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 133 SMART FACTORY MARKET FOR AUTOMOTIVE INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 134 SMART FACTORY MARKET FOR AUTOMOTIVE INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.3.2 AEROSPACE & DEFENSE
                    8.3.2.1 High equipment cost encourages adoption of smart factory solutions to ensure proper functioning of equipment in aerospace & defense industry
                            TABLE 135 SMART FACTORY MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 136 SMART FACTORY MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 137 SMART FACTORY MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 138 SMART FACTORY MARKET FOR AEROSPACE & DEFENSE INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.3.3 SEMICONDUCTOR & ELECTRONICS
                    8.3.3.1 Continuous advancements in semiconductor & electronics industry encourage adoption of smart factory solutions to enhance productivity
                            TABLE 139 SMART FACTORY MARKET FOR SEMICONDUCTOR & ELECTRONICS INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 140 SMART FACTORY MARKET FOR SEMICONDUCTOR & ELECTRONICS INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 141 SMART FACTORY MARKET FOR SEMICONDUCTOR & ELECTRONICS INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 142 SMART FACTORY MARKET FOR SEMICONDUCTOR & ELECTRONICS INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.3.4 MACHINE MANUFACTURING
                    8.3.4.1 Increasing need for predictive maintenance in machine manufacturing sector to drive smart factory market
                            TABLE 143 SMART FACTORY MARKET FOR MACHINE MANUFACTURING INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 144 SMART FACTORY MARKET FOR MACHINE MANUFACTURING INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 145 SMART FACTORY MARKET FOR MACHINE MANUFACTURING INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 146 SMART FACTORY MARKET FOR MACHINE MANUFACTURING INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.3.5 MEDICAL DEVICES
                    8.3.5.1 Adoption of smart factory solutions enables higher efficiency in medical devices manufacturing
                            TABLE 147 SMART FACTORY MARKET FOR MEDICAL DEVICES INDUSTRY, BY COMPONENT, 2017–2020 (USD MILLION)
                            TABLE 148 SMART FACTORY MARKET FOR MEDICAL DEVICES INDUSTRY, BY COMPONENT, 2021–2026 (USD MILLION)
                            TABLE 149 SMART FACTORY MARKET FOR MEDICAL DEVICES INDUSTRY, BY SOLUTION, 2017–2020 (USD MILLION)
                            TABLE 150 SMART FACTORY MARKET FOR MEDICAL DEVICES INDUSTRY, BY SOLUTION, 2021–2026 (USD MILLION)
           8.3.6 OTHER DISCRETE INDUSTRIES
                 TABLE 151 SMART FACTORY MARKET FOR OTHER DISCRETE INDUSTRIES, BY COMPONENT, 2017–2020 (USD MILLION)
                 TABLE 152 SMART FACTORY MARKET FOR OTHER DISCRETE INDUSTRIES, BY COMPONENT, 2021–2026 (USD MILLION)
                 TABLE 153 SMART FACTORY MARKET FOR OTHER DISCRETE INDUSTRIES, BY SOLUTION, 2017–2020 (USD MILLION)
                 TABLE 154 SMART FACTORY MARKET FOR OTHER DISCRETE INDUSTRIES, BY SOLUTION, 2021–2026 (USD MILLION)

9 SMART FACTORY MARKET, BY REGION (Page No. - 146)
    9.1 INTRODUCTION
        FIGURE 34 SMART FACTORY MARKET IN INDIA TO REGISTER HIGHEST CAGR FROM 2021 TO 2026
        TABLE 155 SMART FACTORY MARKET, BY REGION, 2017–2020 (USD BILLION)
        TABLE 156 SMART FACTORY MARKET, BY REGION, 2021–2026 (USD BILLION)
    9.2 NORTH AMERICA
        TABLE 157 SMART FACTORY MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION)
        TABLE 158 SMART FACTORY MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
        FIGURE 35 SNAPSHOT: SMART FACTORY MARKET IN NORTH AMERICA
           9.2.1 US
                    9.2.1.1 New product launches by key players and consequent increase in investments by end users to empower smart factory market growth in US
           9.2.2 CANADA
                    9.2.2.1 Increasing government support for adoption of advanced manufacturing technologies to encourage smart factory market
           9.2.3 MEXICO
                    9.2.3.1 Increasing investments and expansion by global market players to boost growth of smart factory market
    9.3 EUROPE
        TABLE 159 SMART FACTORY MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION)
        TABLE 160 SMART FACTORY MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION)
        FIGURE 36 SNAPSHOT: SMART FACTORY MARKET IN EUROPE
           9.3.1 UK
                    9.3.1.1 Government support for development of IoT technology to boost growth of smart factory market
           9.3.2 GERMANY
                    9.3.2.1 Comprehensive R&D programs by German government to boost Industry 4.0
           9.3.3 FRANCE
                    9.3.3.1 Government initiatives and support to fuel growth of smart factory market in France
           9.3.4 ITALY
                    9.3.4.1 Italy is a major market for smart factory solutions in Europe
           9.3.5 REST OF EUROPE
    9.4 APAC
        TABLE 161 SMART FACTORY MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION)
        TABLE 162 SMART FACTORY MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION)
        FIGURE 37 SNAPSHOT: SMART FACTORY MARKET IN APAC
           9.4.1 CHINA
                    9.4.1.1 Increasing labor costs in China are leading to adoption of advanced automation solutions
           9.4.2 JAPAN
                    9.4.2.1 Ongoing developments in smart manufacturing processes in Japan to boost market growth
           9.4.3 SOUTH KOREA
                    9.4.3.1 Increasing investments by government encourage growth of smart factory market
           9.4.4 INDIA
                    9.4.4.1 Make in India campaign to encourage adoption of automation solutions in manufacturing industry
           9.4.5 REST OF APAC
    9.5 REST OF THE WORLD (ROW)
        FIGURE 38 SNAPSHOT: SMART FACTORY MARKET IN ROW
        TABLE 163 SMART FACTORY MARKET IN ROW, BY REGION, 2017–2020 (USD BILLION)
        TABLE 164 SMART FACTORY MARKET IN ROW, BY REGION, 2021–2026 (USD BILLION)
           9.5.1 SOUTH AMERICA
                    9.5.1.1 Increasing recognition of smart factory solutions in Brazil to drive market growth
           9.5.2 MIDDLE EAST & AFRICA
                    9.5.2.1 Smart factory market to grow in Middle East due to high adoption of advanced manufacturing solutions in oil & gas industry
                    9.5.2.2 Digitalization of mining operations to propel growth of smart factory market in Africa

10 COMPETITIVE LANDSCAPE (Page No. - 163)
     10.1 INTRODUCTION
             10.1.1 REVENUE ANALYSIS OF TOP FIVE COMPANIES
                    FIGURE 39 TOP PLAYERS IN SMART FACTORY MARKET, 2016–2020
     10.2 MARKET EVALUATION FRAMEWORK
          TABLE 165 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN SMART FACTORY MARKET
     10.3 MARKET SHARE ANALYSIS OF PLAYERS, 2019
          TABLE 166 SMART FACTORY MARKET: CONSOLIDATED
     10.4 COMPANY EVALUATION QUADRANT
             10.4.1 STAR
             10.4.2 EMERGING LEADER
             10.4.3 PERVASIVE
             10.4.4 PARTICIPANT
                    FIGURE 40 COMPANY EVALUATION QUADRANT, 2020
     10.5 STARTUP/SME EVALUATION QUADRANT
             10.5.1 PROGRESSIVE COMPANY
             10.5.2 RESPONSIVE COMPANY
             10.5.3 DYNAMIC COMPANY
             10.5.4 STARTING BLOCK
                    FIGURE 41 STARTUP/SME EVALUATION QUADRANT, 2020
                    TABLE 167 COMPONENT/SOLUTION FOOTPRINT OF COMPANIES
                    TABLE 168 REGIONAL FOOTPRINT OF COMPANIES
                    FIGURE 42 INDUSTRIAL FOOTPRINT OF COMPANIES
                    TABLE 169 FOOTPRINT OF COMPANIES
     10.6 COMPETITIVE SITUATIONS AND TRENDS
             10.6.1 PRODUCT LAUNCHES
                    TABLE 170 SMART FACTORY MARKET: PRODUCT LAUNCHES, JANUARY 2019–MARCH 2021
             10.6.2 DEALS
                    TABLE 171 SMART FACTORY MARKET: DEALS, JANUARY 2019–MARCH 2021

11 COMPANY PROFILES (Page No. - 178)
     11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View)*
             11.1.1 ABB
                    TABLE 172 ABB: BUSINESS OVERVIEW
                    FIGURE 43 ABB: COMPANY SNAPSHOT
             11.1.2 EMERSON ELECTRIC CO.
                    TABLE 173 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
                    FIGURE 44 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
             11.1.3 GENERAL ELECTRIC CO.
                    TABLE 174 GENERAL ELECTRIC CO.: BUSINESS OVERVIEW
                    FIGURE 45 GENERAL ELECTRIC CO.: COMPANY SNAPSHOT
             11.1.4 SIEMENS
                    TABLE 175 SIEMENS: BUSINESS OVERVIEW
                    FIGURE 46 SIEMENS: COMPANY SNAPSHOT
             11.1.5 ROCKWELL AUTOMATION
                    TABLE 176 ROCKWELL AUTOMATION: BUSINESS OVERVIEW
                    FIGURE 47 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
             11.1.6 SCHNEIDER ELECTRIC
                    TABLE 177 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                    FIGURE 48 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
             11.1.7 HONEYWELL
                    TABLE 178 HONEYWELL: BUSINESS OVERVIEW
                    FIGURE 49 HONEYWELL: COMPANY SNAPSHOT
             11.1.8 MITSUBISHI ELECTRIC
                    TABLE 179 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
                    FIGURE 50 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
             11.1.9 ENDRESS+HAUSER
                    TABLE 180 ENDRESS+HAUSER: BUSINESS OVERVIEW
                    FIGURE 51 ENDRESS+HAUSER: COMPANY SNAPSHOT
             11.1.10 YOKOGAWA ELECTRIC CORPORATION
                    TABLE 181 YOKOGAWA ELECTRIC CORPORATION: BUSINESS OVERVIEW
                    FIGURE 52 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
             11.1.11 KUKA
                    TABLE 182 KUKA: BUSINESS OVERVIEW
                    FIGURE 53 KUKA: COMPANY SNAPSHOT
             11.1.12 STRATASYS, LTD.
                    TABLE 183 STRATASYS, LTD.: BUSINESS OVERVIEW
                    FIGURE 54 STRATASYS, LTD.: COMPANY SNAPSHOT
             11.1.13 FANUC CORPORATION
                    TABLE 184 FANUC CORPORATION: BUSINESS OVERVIEW
                    FIGURE 55 FANUC CORPORATION: COMPANY SNAPSHOT
             11.1.14 OMRON CORPORATION
                    TABLE 185 OMRON CORPORATION: BUSINESS OVERVIEW
                    FIGURE 56 OMRON CORPORATION: COMPANY SNAPSHOT
             11.1.15 THERMO FISHER SCIENTIFIC
                    TABLE 186 THERMO FISHER SCIENTIFIC: BUSINESS OVERVIEW
                    FIGURE 57 THERMO FISHER SCIENTIFIC: COMPANY SNAPSHOT
* Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
     11.2 OTHER PLAYERS
             11.2.1 INXPECT S.P.A.
             11.2.2 ALGOLUX
             11.2.3 INUITIVE
             11.2.4 EAVE
             11.2.5 CANARIA
             11.2.6 FUELICS
             11.2.7 TRIDITIVE
             11.2.8 ULTIMAKER
             11.2.9 ROBOZE S.P.A.
             11.2.10 NANO DIMENSION
             11.2.11 SOFTGRIPPING
             11.2.12 DEEP LEARNING ROBOTICS
             11.2.13 PICK-IT 3D
             11.2.14 ONROBOT
             11.2.15 TRIVISION
             11.2.16 ZIVID
             11.2.17 ENERSIS
             11.2.18 CLEVEST

12 ADJACENT & RELATED MARKET (Page No. - 231)
     12.1 INTRODUCTION
     12.2 LIMITATIONS
     12.3 DIGITAL TWIN MARKET
             12.3.1 DEFINITION
             12.3.2 MARKET OVERVIEW
             12.3.3 DIGITAL TWIN MARKET, BY REGION
                    TABLE 187 DIGITAL TWIN MARKET, BY REGION, 2016–2019 (USD BILLION)
                    TABLE 188 DIGITAL TWIN MARKET, BY REGION, 2020–2026 (USD BILLION)
     12.4 NORTH AMERICA
          TABLE 189 DIGITAL TWIN MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2026 (USD MILLION)
          TABLE 190 DIGITAL TWIN MARKET IN NORTH AMERICA, BY INDUSTRY, 2016–2019 (USD MILLION)
          TABLE 191 DIGITAL TWIN MARKET IN NORTH AMERICA, BY INDUSTRY, 2020–2026 (USD MILLION)
     12.5 EUROPE
          TABLE 192 DIGITAL TWIN MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
          TABLE 193 DIGITAL TWIN MARKET IN EUROPE, BY COUNTRY, 2020–2026 (USD MILLION)
          TABLE 194 DIGITAL TWIN MARKET IN EUROPE, BY INDUSTRY, 2016–2019 (USD MILLION)
          TABLE 195 DIGITAL TWIN MARKET IN EUROPE, BY INDUSTRY, 2020–2026 (USD MILLION)
     12.6 APAC
          TABLE 196 DIGITAL TWIN MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)
          TABLE 197 DIGITAL TWIN MARKET IN APAC, BY COUNTRY, 2020–2026 (USD MILLION)
          TABLE 198 DIGITAL TWIN MARKET IN APAC, BY INDUSTRY, 2016–2019 (USD MILLION)
          TABLE 199 DIGITAL TWIN MARKET IN APAC, BY INDUSTRY, 2020–2026 (USD MILLION)
     12.7 ROW
          TABLE 200 DIGITAL TWIN MARKET IN ROW, BY COUNTRY, 2016–2019 (USD MILLION)
          TABLE 201 DIGITAL TWIN MARKET IN ROW, BY COUNTRY, 2020–2026 (USD MILLION)
          TABLE 202 DIGITAL TWIN MARKET IN ROW, BY INDUSTRY, 2016–2019 (USD MILLION)
          TABLE 203 DIGITAL TWIN MARKET IN ROW, BY INDUSTRY, 2020–2026 (USD MILLION)

13 APPENDIX (Page No. - 241)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

This study involved four major activities in estimating the size of the smart factory market. Exhaustive secondary research has been conducted to collect information on the smart factory market. In the next step, these findings, assumptions, and sizing have been validated with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches have been employed to estimate the complete market size. Following that, the market breakdown and data triangulation methods have been used to estimate the market size of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for the smart factory market study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, transformer associations (such as International Energy Agency (IEA), Automation World, and certified publications; articles from recognized authors; directories; and databases.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides have been interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts, such as CEOs, VPs, marketing directors, technology and innovation directors, and related key executives from major companies and organizations operating in the smart factory market. Following is the breakdown of primary respondents:

Smart Factory Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches have been used to estimate and validate the size of the overall smart factory market and the market based on segments. The research methodology used to estimate the market size has been given below:

  • Key players operating in the smart factory market have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined by using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall smart factory market size—using the estimation processes explained above—the market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends in both the demand and supply sides of the smart factory market.

Report Objectives:

  • To describe and forecast the smart factory market, in terms of value, on the basis of component, solution, process industry, and discrete industry
  • To forecast the market size, in terms of value, for four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To provide a comprehensive overview of the value chain of the smart factory ecosystem
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies2, and provide a detailed competitive landscape of the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the smart factory market report.

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
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Report Code
SE 3068
Published ON
May, 2021
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