The global Smart Factory market size is expected to grow from USD 86.2 billion in 2022 to USD 140.9 billion by 2027, at a CAGR of 10.3%. Growing adoption of Industry 4.0 across industries, increasing number of initiatives by governments across the world for promoting adoption of modern and advanced technologies in factories, and rapidly growing necessity for real-time data analysis are the key factors driving the Smart Factory market.
The key players operating in the Smart Factory market include the major players which operates in different stages in the entire value chain of SMART FACTORY; these players are Siemens AG (Germany), Schneider Electric SE (France), Honeywell International Inc. (US), Rockwell Automation Inc. (US), and ABB (Switzerland), and For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including new product launches, increasing investments in R&D (research & development), increasing number of acquisitions, partnerships, mergers, and strategic alliances, and planned geographic expansions etc.
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Schneider Electric SE is a European multinational corporation that specializes in energy management and automation solutions. Schneider Electric SE operates through the Energy Management (medium voltage, low voltage, and secure Power) and Industrial Automation segments. It operates in four principal markets: non-residential and residential buildings, utilities and infrastructure, industry and machine manufacturers, and data centers and networks. The Energy Management business segment offers products and solutions to cater to the medium-voltage, low-voltage, and secure power requirements. It provides medium-voltage distribution and grid automation solutions, which use SCADA, distribution management software (DMS), and operation management software (OMS). The Industrial Automation segment provides various products and solutions, including hardware and software automation products such as distributed control systems (DCS), human– machine interface operator panels, safety systems, motor starters, sensors, programmable logic controllers (PLCs), supervisory control systems, and asset and operations management solutions, to the process and discrete automation manufacturing plants..
ABB is one of the leading technology companies that provides a wide range of products such as control room solutions, metallurgy products, electric vehicle charging infrastructure, motors and generators, measurement and analytics, mechanical power transmission, and others. The company operates through four business divisions, namely, Electrification, Motion, Process Automation, and Robotics & Discrete Automation. The Electrification segment offers protection and connection solutions, building products, installation products, and medium-voltage products. The Robotics & Discrete Automation segment offers products, solutions, and services under two separate business areas, namely, Robotics and Machine Automation. Under the Robotics section, the company offers industrial robots, software, field services, spare parts, robotics systems and solutions, and related digital services. Under the Machine Automation section, the company offers solutions based on programmable logic controllers (PLCs), servo motion, transport systems, industrial PCs (IPC), and machine vision.
Rockwell Automation Inc. has a strong foothold in the market for Smart Factory solutions and is always considered one of the top companies in the Smart Factory market owing to its comprehensive portfolio of Smart Factory. The company emphasizes developing new products to upgrade its portfolio. The Software & Control segment offers a production automation portfolio, which is multi-discipline and scalable with the ability to handle applications in discrete, batch/hybrid and continuous process, drives control, motion and robotics control, machine safety and process safety
Siemens is among the leading providers of Smart Factory solutions to process and discrete industries. It has the most advanced product portfolio that empowers its clients to achieve their mission of deploying robust Smart Factory systems. Siemens offers diversified safety integrated solutions for factory and process automation. It caters to the process and discrete industries by offering Smart Factory solutions. It also offers safety controllers, process instruments, safety actuators, and SIMATIC PCS 7 platforms in the safe industrial control product category, which comes under the Digital Industries segment. In addition, the company provides Smart Factory-certified SIL-rated products for pressure, temperature, flow, and level measurement for both process and factory automation.
Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, MES, Industrial Safety, PAM), Industry (Process Industry, Discrete Industry) and Region - Global Forecast to 2027
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