Smart Factory Market

Table of Contents

1 Introduction (Page No. - 20)
    1.1 Study Objectives
    1.2 Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Resources
                    2.1.2.2 Breakdown of Primaries
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach to Capture the Market Share Using the Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach to Capture the Market Share Using the Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 33)

4 Premium Insights (Page No. - 44)
    4.1 Smart Factory Market, 2019–2024 (USD Billion)
    4.2 Market, By Component (2019–2024)
    4.3 Market, By Technology, 2019–2024 (USD Billion)
    4.4 Market, By Industry and Type
    4.5 Market, Partnerships

5 Market Overview (Page No. - 47)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growing Demand for Industrial Robots
                    5.2.1.2 Industrial IoT (IIoT): Revolution to the Industry
                    5.2.1.3 Importance of Energy Efficiency, Resource Optimization, and Cost Reduction
                    5.2.1.4 Increasing Emphasis on Real-Time Data Analysis, Enhanced Visibility, and Predictive Maintenance
           5.2.2 Restraints
                    5.2.2.1 Risk Associated With Security of Cyber-Physical System
                    5.2.2.2 Requirement of A Significant Amount of Capital Investments
           5.2.3 Opportunities
                    5.2.3.1 Lucrative Opportunities for Collaborative Robots
                    5.2.3.2 Ongoing Advancements in 3D Printing Technology
           5.2.4 Challenges
                    5.2.4.1 Interoperability Between Information Technology (IT) and Operational Technology (OT)
                    5.2.4.2 Lack of Awareness in Small and Medium-Sized Businesses
    5.3 Enabling Technologies of Smart Factory Ecosystem
           5.3.1 Artificial Intelligence
                    5.3.1.1 Importance of Ai in Smart Factory
           5.3.2 Augmented Reality (AR)
                    5.3.2.1 Ar Enhancing the Smart Manufacturing Workforce
           5.3.3 Big Data and Analytics
                    5.3.3.1 Big Data and Analytics: Crucial Industrial Communication
           5.3.4 Blockchain
                    5.3.4.1 Connecting Blockchain and IoT
           5.3.5 Industrial Cybersecurity
                    5.3.5.1 Defense for Smart Manufacturing
           5.3.6 5G
                    5.3.6.1 5G Technology to Drive Smart Factory

6 Smart Factory Market, By Component (Page No. - 58)
    6.1 Introduction
    6.2 Sensors
           6.2.1 Evolution of Sensor Technology Empowering Smart Factory Market
    6.3 Industrial Robots
           6.3.1 Traditional Industrial Robots
                    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 Being Most Emerging Among All the Types of Industrial Robots
    6.4 Industrial 3D Printing
           6.4.1 Evolution of Industrial 3D Printing to Drive Smart Factory Market
    6.5 Machine Vision
           6.5.1 Camera
                    6.5.1.1 Digital Camera
                    6.5.1.2 Smart Camera
           6.5.2 Frame Grabbers, Optics, and Led Lighting
                    6.5.2.1 Increasing Demand of Led and Laser Lighting
           6.5.3 Processor and Software
                    6.5.3.1 Processor and Software Being Important Part of Machine Vision System

7 Smart Factory Market, By Technology (Page No. - 77)
    7.1 Introduction
    7.2 Product Life Cycle Management (PLM)
           7.2.1 Global Demand for Efficiency and Productivity in Manufacturing Plants
    7.3 Manufacturing Execution System (MES)
           7.3.1 Increasing Adoption of Manufacturing Execution System (MES) to Offer Growing Benefits to Process and Discrete Industries
    7.4 Programmable Logic Controller (PLC)
           7.4.1 Growing Demand for Micro and Nano PLCs in Market
    7.5 Supervisory Control and Data Acquisition (SCADA)
           7.5.1 Shift Toward the Development of SCADA App for Smartphones to Uplift the Market Growth
    7.6 Enterprise Resource Planning (ERP)
           7.6.1 Potential of Integrating Critical Business Information Across an Organization Drives the Adoption of ERP Solutions in Smart Factories
    7.7 Distributed Control System (DCS)
           7.7.1 Expanding Industrial Infrastructure in Developing Regions
    7.8 Human–Machine Interface (HMI)
           7.8.1 Evolution of Industrial Internet of Things (IIoT) Leading to Adoption of HMI
    7.9 Plant Asset Management (PAM)
           7.9.1 PAM to Predict Failure in Advance to Avoid Future Loss

8 Smart Factory Market, By Industry (Page No. - 98)
    8.1 Introduction
    8.2 Process Industry
           8.2.1 Oil and Gas
                    8.2.1.1 Increase in Demand for Remote Monitoring Solutions Due to the Growing Number of Drilling Operations in Remote Offshore Locations
           8.2.2 Chemicals
                    8.2.2.1 Growth of Market Due to Increasing Automation in the Chemicals Industry
           8.2.3 Pulp and Paper
                    8.2.3.1 Raising Adoption of Digitalization in the Paper Manufacturing to Drive Smart Manufacturing Process
           8.2.4 Pharmaceuticals
                    8.2.4.1 Increasing Implementation of Automated Processes to Ensure the Sophisticated Manufacturing Process
           8.2.5 Metals and Mining
                    8.2.5.1 Rise in Demand for Predictive Maintenance Encourages Adoption of Smart Factory Solutions
           8.2.6 Food and Beverages
                    8.2.6.1 Rapid Technological Development in the Industry Leading to the Growth of the Market
           8.2.7 Energy and Power
                    8.2.7.1 Increasing Demand for Advanced Monitoring Solutions Drives the Demand for Smart Technologies
           8.2.8 Others
                    8.2.8.1 Growing Demand for the Process Control Solutions Due to the Increasing Significance of Product Quality and Production Efficiency
                    8.2.8.2 Technological Development Leading to the Adoption of Automation Solutions in Water Treatment Plants
    8.3 Discrete Industry
           8.3.1 Automotive
                    8.3.1.1 Increasing Investment By Key Automotive Manufactures for the Deployment of Smart Factory
           8.3.2 Aerospace and Defense
                    8.3.2.1 High Equipment Cost Encourages the Adoption of Smart Factory Solutions to Ensure Proper Functioning of the Equipment
           8.3.3 Semiconductor and Electronics
                    8.3.3.1 Continuous Advancements in the Industry Encourage the Adoption of Smart Factory Solutions to Enhance the Productivity
           8.3.4 Machine Manufacturing
                    8.3.4.1 Increasing Need for Predictive Maintenance to Grow the Market
           8.3.5 Medical Devices
                    8.3.5.1 Adoption of Smart Factory Solutions Enabling Higher Efficiency in Manufacturing Processes
           8.3.6 Others

9 Smart Factory Market, By Geography (Page No. - 111)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 New Product Launches By Key Players and Consequent Increase in Investment By End Users to Empower the Market Growth in the US
           9.2.2 Canada
                    9.2.2.1 Increasing Government Support for the Adoption of Advanced Manufacturing Technologies to Encourage Smart Factory 
           9.2.3 Mexico
                    9.2.3.1 Increasing Investment and Expansion By Global Market Players to Boost the Growth of the Market
    9.3 Europe
           9.3.1 UK
                    9.3.1.1 Government Support for the Development of Iot Technology to Boost the Growth of the Market
           9.3.2 Germany
                    9.3.2.1 Comprehensive R&D Programs By the Government to Boost Industry 4.0
           9.3.3 France
                    9.3.3.1 Government Initiatives and Support to Fuel the Growth of the Market in France
           9.3.4 Italy
                    9.3.4.1 Italy Being One of the Major Market for Smart Factory Solutions
           9.3.5 Rest of Europe
    9.4 APAC
           9.4.1 China
                    9.4.1.1 Increasing Labor Costs in the Country Leading to the Adoption of Advanced Automation Solutions
           9.4.2 Japan
                    9.4.2.1 Ongoing Developments in Smart Manufacturing Processes in the Country to Boost the Market Growth
           9.4.3 South Korea
                    9.4.3.1 Increasing Investment By Government Encourages the Growth of the  Market
           9.4.4 India
                    9.4.4.1 Make in India Campaign to Encourage the Manufacturing Industry of the Country
           9.4.5 Rest of APAC
    9.5 Rest of the World (RoW)
           9.5.1 South America
                    9.5.1.1 Increasing Recognition of Smart Factory Solutions in Brazil
           9.5.2 Middle East & Africa
                    9.5.2.1 Increase in Market Growth in the Middle East Due to High Adoption of Advanced Manufacturing Solutions in the Oil and Gas Industry
                    9.5.2.2 Digitalization of the Mining Operations to Propel the Growth of the Market in Africa

10 Competitive Landscape (Page No. - 127)
     10.1 Overview
     10.2 Competitive Analysis
             10.2.1 Market Ranking Analysis: Market, 2017
             10.2.2 Financial and Operational Performance Benchmarking for Select Companies in Market
     10.3 Competitive Leadership Mapping, 2018
             10.3.1 Visionary Leaders
             10.3.2 Dynamic Differentiators
             10.3.3 Innovators
             10.3.4 Emerging Companies
     10.4 Competitive Situation and Trends
             10.4.1 Agreements, Contracts, Joint Ventures, ollaborations & Partnerships
             10.4.2 Product Launches and Developments
             10.4.3 Acquisitions and Expansions

11 Company Profiles (Page No. - 138)
     11.1 Key Players
(Business Overview, Product Offerings, Recent Development, SWOT Analysis, and MnM View)* 
             11.1.1 Siemens
             11.1.2 General Electric
             11.1.3 ABB
             11.1.4 Rockwell Automation
             11.1.5 Schneider Electric
             11.1.6 Honeywell International
             11.1.7 FANUC
             11.1.8 Mitsubishi Electric
             11.1.9 Emerson Electric
             11.1.10 Yokogawa Electric
             11.1.11 Robert Bosch
             11.1.12 Stratasys
     11.2 Other Players
             11.2.1 TE Connectivity
             11.2.2 Texas Instruments
             11.2.3 HP
             11.2.4 KUKA
             11.2.5 SAP
             11.2.6 Omron
             11.2.7 Dassault SysteMES
             11.2.8 Qualcomm
*Details on Business Overview, Product Offerings, Recent Development, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies. 

12 Appendix (Page No. - 180)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details

List of Tables (63 Tables)

Table 1 Smart Factory Market, By Component, 2015–2024 (USD Billion)
Table 2 Market for Component, By Industry, 2015–2024 (USD Billion)
Table 3 Market for Component, By Process Industry, 2015–2024 (USD Billion)
Table 4 Market for Component, By Discrete Industry, 2015–2024 (USD Billion)
Table 5 Market for Sensors, By Industry, 2015–2024 (USD Billion)
Table 6 Market for Sensors, By Process Industry, 2015–2024 (USD Billion)
Table 7 Market for Sensors, By Discrete Industry, 2015–2024 (USD Billion)
Table 8 Market for Sensors, By Region, 2015–2024 (USD Billion)
Table 9 Market for Industrial Robots, By Type, 2015–2024 (USD Billion)
Table 10 Market for Industrial Robots, By Industry, 2015–2024 (USD Billion)
Table 11 Market for Industrial Robots, By Process Industry, 2015–2024 (USD Billion)
Table 12 Market for Industrial Robots, By Discrete Industry, 2015–2024 (USD Billion)
Table 13 Market for Industrial Robots, By Region, 2015–2024 (USD Billion)
Table 14 Market for Industrial 3D Printing, By Industry, 2015–2024 (USD Million)
Table 15 Market for Industrial 3D Printing, By Process Industry, 2015–2024 (USD Million)
Table 16 Market for Industrial 3D Printing, By Discrete Industry, 2015–2024 (USD Billion)
Table 17 Market for Industrial 3D Printing, By Region, 2015–2024 (USD Billion)
Table 18 Market for Machine Vision, By Industry, 2015–2024 (USD Billion)
Table 19 Market for Machine Vision, By Process Industry, 2015–2024 (USD Billion)
Table 20 Market for Machine Vision, By Discrete Industry, 2015–2024 (USD Billion)
Table 21 Market for Machine Vision, By Region, 2015–2024 (USD Billion)
Table 22 Market, By Technology, 2015–2024 (USD Billion)
Table 23 Market for Technology, By Industry, 2015–2024 (USD Billion)
Table 24 Market for Technology, By Process Industry, 2015–2024 (USD Billion)
Table 25 Smart Factory Market for Technology, By Discrete Industry, 2015–2024 (USD Billion)
Table 26 Market for PLM, By Industry, 2015–2024 (USD Million)
Table 27 Market for PLM, By Process Industry, 2015–2024 (USD Million)
Table 28 Market for PLM, By Discrete Industry, 2015–2024 (USD Million)
Table 29 Market for PLM, By Region, 2015–2024 (USD Million)
Table 30 Market for MES, By Process Industry, 2015–2024 (USD Million)
Table 31 Market for MES, By Discrete Industry, 2015–2024 (USD Million)
Table 32 Market for MES, By Region, 2015–2024 (USD Million)
Table 33 Market for PLC, By Industry, 2015–2024 (USD Billion)
Table 34 Market for PLC, By Process Industry, 2015–2024 (USD Million)
Table 35 Market for PLC, By Region, 2015–2024 (USD Billion)
Table 36 Market for SCADA, By Process Industry, 2015–2024 (USD Million)
Table 37 Market for SCADA, By Discrete Industry, 2015–2024 (USD Million)
Table 38 Market for SCADA, By Region, 2015–2024 (USD Million)
Table 39 Market for ERP, By Industry, 2015–2024 (USD Billion)
Table 40 Smart Factory Market for ERP, By Process Industry, 2015–2024 (USD Billion)
Table 41 Market for ERP, By Discrete Industry, 2015–2024 (USD Billion)
Table 42 Market for ERP, By Region, 2015–2024 (USD Billion)
Table 43 Market for DCS, By Industry, 2015–2024 (USD Billion)
Table 44 Market for DCS, By Process Industry, 2015–2024 (USD Million)
Table 45 Market for DCS, By Region, 2015–2024 (USD Million)
Table 46 Market for HMI, By Industry, 2015–2024 (USD Billion)
Table 47 Market for HMI, By Process Industry, 2015–2024 (USD Million)
Table 48 Market for HMI, By Discrete Industry, 2015–2024 (USD Million)
Table 49 Market for HMI, By Region, 2015–2024 (USD Billion)
Table 50 Market for Plant Asset Management (PAM), By Industry, 2015–2024 (USD Billion)
Table 51 Market, By Industry, 2015–2024 (USD Billion)
Table 52 Market, By Process Industry, 2015–2024 (USD Billion)
Table 53 Market, By Discrete Industry, 2015–2024 (USD Billion)
Table 54 Market, By Region, 2015–2024 (USD Billion)
Table 55 Market for Technology, By Region, 2015–2024 (USD Billion)
Table 56 Market for Component, By Region, 2015–2024 (USD Billion)
Table 57 Market, By North America, 2015–2024 (USD Billion)
Table 58 Market, By Europe, 2015–2024 (USD Billion)
Table 59 Market, By APAC, 2015–2024 (USD Billion)
Table 60 Smart Factory Market, By RoW, 2015–2024 (USD Billion)
Table 61 Agreements, Contracts, Joint Ventures, Collaborations & Partnerships 2017-2018
Table 62 Product Launches and Developments 2017-2018
Table 63 Acquisitions and Expansions 2017-2018

List of Figures (61 Figures)

Figure 1 Smart Factory Market Segmentation
Figure 2 Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 the Smart Factory Journey: From Data to Decision
Figure 8 Key Stages in Smart Factory Adoption
Figure 9 Major Challenge in the Adoption of Smart Factory
Figure 10 Key Emerging Technologies and their Impact on Smart Factory
Figure 11 Select Possible Use Cases for Blockchain in Manufacturing Industry
Figure 12 5G Will Fuel the Factory Automation
Figure 13 Revenue Growth Analysis for Select Smart Factory Companies
Figure 14 Partnerships to Leverage “Digital” are at the Forefront of Smart Factory Ecosystem
Figure 15 Growth Outlook for Various Technologies in Market
Figure 16 Global Market Snapshot, 2018 vs 2024 (USD Billion) : Discrete Industry is Expected to Grow at the Highest Rate
Figure 17 Global Market, By Type, 2018 and 2024
Figure 18 APAC is Expected to Grow at the Highest Rate in Market During the Forecast Period
Figure 19 Growing Demand for Digital Solutions to Drive the Growth of the Market
Figure 20 Market for Industrial 3D Printing Expected to Grow at the Highest CAGR Between 2019 and 2024
Figure 21 DCS Technology is Expected to Dominate the Market Between 2019 and 2024
Figure 22 Process Industry to Hold Largest Market Share in 2019
Figure 23 Key Partnerships in the Market for 2017–2018
Figure 24 DROC: Market
Figure 25 IoT Transforming the Smart Factory Ecosystem
Figure 26 Industrial Annual Energy Cost Saving
Figure 27 Revenue Performance of Universal Robots
Figure 28 Key Enablers in Smart Factory Ecosystem
Figure 29 Developments Due to 5G Network Evolution
Figure 30 Various Test Cases and Use Cases of 5G Technology
Figure 31 Market, By Component
Figure 32 Automotive Industry is Expected to Have Largest Market Share of Market for Component During the Forecast Period
Figure 33 Market for Sensors Market in APAC is Expected to Show Highest Growth Rate During Forecast Period
Figure 34 Mining and Metals Industry to Hold Largest Market Share in the Market for Industrial Robots During Forecast Period
Figure 35 Metals and Mining Industry to Have Largest Market Share of Market for Process Industry
Figure 36 Key Componenets in Machine Vision System
Figure 37 Market, By Technology
Figure 38 Stages of Product Lifecycle Management
Figure 39 Market, By Industry
Figure 40 Market, By Process Industry
Figure 41 Market, By Discrete Industry
Figure 42 US to Hold Largest Size of the Market in North America
Figure 43 Snapshot: Market in Europe
Figure 44 Snapshot: Market in APAC
Figure 45 China is Expected to Be the Fastest Growing Market in APAC Between 2019 and 2024
Figure 46 Market Ranking of the Top 5 Players in the Market, 2017
Figure 47 Financial Performance Indicators for Key Companies in Market
Figure 48 Revenue Growth Analysis for Select Smart Factory Companies
Figure 49 Competitive Leadership Mapping (Global) Market, 2018
Figure 50 Siemens AG: Company Snapshot
Figure 51 General Electric: Company Snapshot
Figure 52 ABB Ltd.: Company Snapshot
Figure 53 Rockwell Automation: Company Snapshot
Figure 54 Schneider Electric: Company Snapshot
Figure 55 Honeywell International: Company Snapshot
Figure 56 FANUC: Company Snapshot
Figure 57 Mitsubishi Electric: Company Snapshot
Figure 58 Emerson Electric: Company Snapshot
Figure 59 Yokogawa Electric Corporation: Company Snapshot
Figure 60 Robert Bosch: Company Snapshot
Figure 61 Stratasys: Company Snapshot

The study involved 4 major activities to estimate the current size of the smart factory market. Exhaustive secondary research was done to collect information on market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Factiva and Avention have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Primary Research

Extensive primary research has been conducted after gaining knowledge about the smart factory scenario through secondary research. Several primary interviews have been conducted with market experts from both demand and supply sides across 4 major regions North America, Europe, APAC, and RoW. Approximately 30% and 70% primary interviews have been conducted with parties from the demand and supply sides, respectively. These primary data have been collected through questionnaires, e-mails, and telephonic interviews.

The following figure shows the breakdown of primaries based on company type, designation, and region.

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

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global smart factory market and other dependent submarkets. Key players in the market have been identified through secondary research, and their market rankings in the respective regions have been determined through primary and secondary research. This entire research methodology involves the study of annual and financial reports of top players and interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative) on the smart factory market. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. These data have been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, the market breakdown and data triangulation procedures have been employed wherever applicable. The data have been triangulated by studying various factors and trends from both demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Study objectives are as follows:

• To define, describe, and forecast the smart factory, in terms of value, on the basis of technology, component, and industry
• To forecast the market size, in terms of value, for segments with respect to 4 main regions- North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To provide an overall view of the global market through illustrative segmentations, analyses, and market size estimations of the major geographic segments
• To analyze the competitive intelligence of players based on company profiles, key player strategies, and game-changing developments such as product launches and acquisitions
• To strategically analyze the micromarkets1 with respect to the individual growth trends, prospects, and contribution to the total market
• To strategically profile key players and comprehensively analyze their market ranking and core competencies2, along with detailing the competitive landscape for the market leaders
• To analyze strategic developments such as joint ventures, mergers and acquisitions, new product developments, and R&D in the smart factory.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report.

Geographic Analysis

• Further country-wise breakdown of the market in APAC based on industry

Company Information

• Detailed analysis and profiling of additional market players (up to 5)