Smart Factory Market

Siemens (Germany) and General Electric (US) are the Leading Players in the Smart Factory Market

Smart factory solutions focus on the latest technologies and methods that are currently being adopted to improve the production of end-user industries. They are used in process and discrete industries by autonomous systems with the help of different technologies. The smart factory market is expected to be valued at USD 153.7 billion in 2019 and to grow USD 244.8 billion by 2024 at a CAGR of 9.76% between 2019 and 2024. Factors driving the market for the smart factory market are rising demand for industrial robots in manufacturing sector, increasing adoption of IIoT, importance of energy efficiency, cost reduction and resource optimization, and increasing emphasis on real-time data analysis. The main objective behind implementing smart factory is to increase the productivity and reduce the cost related to processes and employees, while increasing the flexibility and precision. Siemens (Germany), General Electric (US), ABB (Switzerland), Rockwell Automation (US), and Honeywell International (US) are the leading players in the smart factory market.

Siemens is one of the important players in the smart factory market. Its automation division is responsible for the design and production of smart factory solutions. The company’s smart manufacturing technology is designed to meet highly complex processes of automation machines and systems. Siemens offers smart factory-related hardware and software solutions. The company’s industry automation division product portfolio comprises automation systems such as process control systems and programmable logic controllers. The portfolio also consists of automation systems, identification systems, industrial communications, industrial controls, industry services, manufacturing execution systems (MES), operator control, and monitoring systems, PC-based automation, power supplies, PLM software, and process analytics. In July 2017, Siemens developed the latest version of Sinema Server network software V14 for industrial applications that visualize and monitor networks. It is seamlessly integrated into HMI/SCADA systems for data acquisition across the entire production network.

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General Electric is a key player in the smart factory market. The company’s GE Digital business provides full automation products and solutions such as Predix platform, asset performance management (APM), brilliant manufacturing, cyber security, and HMI and SCADA. Predix platform is a platform used for industrial internet of things (IoT). It collects and analyzes the data obtained from connected equipment and delivers real time insights. APM software is used in the company to measure optimal performance and reduces the cost while improving reliability and also manages the risk. It consists of alarm management that detects the faults, and also helps in real time monitoring. HMI/SCADA controls and visualizes the on-going operation with precisely monitoring and helps in faster troubleshooting. CIMPLICITY, iFIX, and Workflow are few of the suite of HMI/SCADA. In June 2017, GE Digital launched Avitas Systems (solutions) that uses robotics, predictive data analytics tools, and artificial intelligence to provide intelligent inspection services to the industries such as transportation, energy, and oil & gas.

ABB offers smart factory solution under its two business segments: Discrete automation and motion and Process automation; for various key industries such as food and beverages, mining, plastic and rubber, and water and wastewater industries. The company has a strong installed base of automation asset which helps it to expand its share in the smart factory market. To grow its smart factory business successfully, the company has leveraged its broad installed base of automation control systems and field devices across various verticals and other equipment such as power industry products, electrical products, and drives. In June 2018, the company presented its new approach robotics based new digital factory era. Under this approach, it launched new single-arm robots-YuMi Robot and OmniCore.

Related Reports:

Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), End-User Industry, and Region - Global Forecast to 2022

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Report Code
SE 3068
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