North America Smart Factory Market worth $47.69 billion by 2030
The report "North America Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printing, Machine Vision Systems), Solution (SCADA, Manufacturing Execution Systems (MES), Plant Asset Management, Industrial Safety) - Forecast to 2030" is projected to grow from USD 29.22 billion in 2025 and to reach 47.69 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.
Browse 180 market data Tables and 60 Figures spread through 310 Pages and in-depth TOC on "North America Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printing, Machine Vision Systems), Solution (SCADA, Manufacturing Execution Systems (MES), Plant Asset Management, Industrial Safety) - Forecast to 2030"
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The North America smart factory market is growing steadily as manufacturers increase investment in automation, industrial software, and connected production systems to improve efficiency and operational control. Rising labor shortages and higher operating costs push factories to adopt data-driven manufacturing, robotics, and real-time monitoring solutions. Strong demand from automotive, electronics, food & beverages, chemicals, and life sciences industries supports adoption. Continued focus on factory digitalization, productivity improvement, and resilient supply chains reinforces smart factory deployments across the US, Canada, and Mexico.
“Industrial sensors segment dominated the North America smart factory market in 2024”
Based on component, the industrial sensors segment held the largest share of the North America smart factory market in 2024, as they are widely used in manufacturing and process industries. Sensors are essential for connected factory environments. They allow real-time data capture, enabling monitoring, control, quality inspection, and predictive maintenance. High adoption rates in the automotive, electronics, food & beverages, chemicals, and life sciences sectors, along with increased integration with automation systems and industrial software, reinforced the segment’s leading position. The large installed base of sensors across production lines and assets continues to reinforce their dominance in the market.
“Plant asset management (PAM) segment is expected to grow at a high rate between 2025 and 2030”
By solution, the plant asset management segment is anticipated to exhibit a high growth rate in the North America smart factory market as manufacturers focus on improving equipment reliability and reducing unplanned downtime. PAM solutions enable condition monitoring, predictive maintenance, and lifecycle optimization of critical assets across factories. Rising use of connected sensors, analytics, and AI-driven diagnostics accelerates the adoption, particularly in asset-intensive industries, such as chemicals, oil & gas, food processing, and pharmaceuticals. As manufacturers prioritize uptime and maintenance efficiency, demand for PAM platforms continues to strengthen.
“Canada is likely to hold a commendable share of the North America smart factory market in 2030”
Canada is emerging as a key growth market within the North America smart factory landscape, supported by increasing investments in advanced manufacturing and factory modernization. Manufacturers across automotive components, food & beverages, chemicals, life sciences, and electronics adopt automation, industrial software, and connected production systems to improve efficiency and product quality. Strong focus on digital transformation, clean manufacturing, and energy efficiency encourages the use of smart factory technologies. In addition, government support for advanced manufacturing, innovation, and sustainability helps accelerate adoption. Growing deployment of robotics, industrial IoT, and data-driven manufacturing solutions positions the country as a steady contributor to regional smart factory market growth.
Key Players
Key companies operating in the North America smart factory market include Siemens AG (Germany), Schneider Electric (France), ABB (Switzerland), Emerson Electric Co. (US), Rockwell Automation Inc. (US), GE Vernova (US), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Endress+Hauser Group Services AG (Switzerland), and Yokogawa Electric Corporation (Japan), among others.
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