Smart Factory Market based on 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 u

Smart Factory Market based on 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 up to 2030

Future market expansion for the "smart factory" will be propelled by the growing need for industrial robots. Robots, the internet of things, artificial intelligence, and information and smart sensor technologies are some of the instruments a smart factory uses to industrially automate and optimise its resources. The nonprofit International Federation of Robotics, with its headquarters in Germany, estimates that while robot installations are expected to rise by 13%, sales of new robots will only marginally grow by 0.5% in 2021. Thus, the primary driver of the development in the revenue of the smart factory market is the increasing sales of robots.

Thanks to 5G technology, owners of smart factories will be able to deploy cellular technologies more securely and tailor them for specific use cases. By embedding sensors on equipment connected to 5G networks, they may gather data from the production networks without having to establish a connection with the machines, allowing for smooth real-time optimisation. Between July and September of 2022, there were over 110 million additional 5G subscriptions added worldwide, bringing the total to about 870 million. Thanks to the installation of 5G networks in factories, wired connectivity is no longer required, enabling high-speed manufacturing with high flexibility and minimum downtime. The creation of the 5G network will offer industries a one-stop shop for solutions and create a plethora of opportunities for intelligent production.

Research Methodology:

After secondary research provided a fundamental understanding of the worldwide Smart Factory Market scenario, extensive primary research was carried out. A number of primary interviews were carried out with industry experts from the supply and demand sides, including C- and D-level executives, product managers, and marketing and sales managers of major manufacturers, distributors, and channel partners from tier 1 and tier 2 companies offering biomarkers, as well as personnel from academia, research, and CROs. These interviews were conducted across five major regions: North America, Europe, Asia Pacific, and the Rest of the World (Latin America & the Middle East & Africa). Participants from the supply-side and demand-side participated in about 70% and 30% of the primary interviews, respectively. Through the use of questionnaires, emails, online surveys, in-person interviews, and phone interviews, this main data was gathered. The primary participants share is given below:

Smart Factory Market on Component:

• Industrial Sensors
• Industrial Robots
• Industrial 3D Printing
• Machine Vision

Smart Factory Market on Solution:

• SCADA
• MES
• Industrial Safety
• PAM

Smart Factory Market on Industry:

• Process Industry
• Discrete Industry

Smart Factory Market on Geography:

• North America
• US
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe (RoE)
• Asia Pacific (APAC)
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
• Brazil
• Argentina
• Rest of South America
• Middle East and Africa (MEA)
• UAE
• Turkey
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Wired and wireless connectivity are included in the Smart Factory Market segmentation based on connectivity. In terms of revenue from the Smart Factory Market in 2022, wireless connection ruled the market. Since the shift to virtual work emphasises the need for dependable, secure, scalable, and adaptable off-premises technology services, this trend is probably here to stay. Additionally, the substantial advantages of automated manufacturing processes—such as simple monitoring, waste reduction, and fast output—led to a notable increase in the market for wired connectivity.

The data from the Smart Factory Market has been divided into three categories: software, hardware, and services. Throughout the projected period, software is anticipated to dominate the market. Modern software will control robots, drones, and other equipment, reducing the chance of mistakes.

The worldwide smart factory market has been divided into many segments based on industry vertical, including electronics and semiconductors, aerospace and defence, automotive, oil and gas, chemicals, healthcare, and pharmaceuticals. In 2022, the market was dominated by the automobile industry. In order to reduce waste, save expenses, and increase margins—many automakers are turning to smart manufacturing since their profitability are appalling. Additionally, the market helps automakers maintain a high degree of product homogeneity.

The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. The smart factory market in North America, which was valued at USD 43.6 billion in 2022, is anticipated to rise at a substantial compound annual growth rate (CAGR) over the course of the study. Numerous regional investment initiatives in the aerospace and defence, industrial, automotive, and North American health sectors are anticipated to result in substantial future growth. The Biden-Harris administration's $225 million American Rescue Plan money will enable 13,000 Community Health Workers (CHWs) to get training. In order to minimise pandemic-related burnout and augment the healthcare staff, American Rescue Plan made unprecedented investments.

• This report illustrates the most vital attributes of the Smart Factory Market, which are driving and providing opportunities.
• This research gives an in-depth analysis of the Smart Factory Market growth on the basis of several segments in the market.
• This report presents the predictions of the past and present trends of the Smart Factory Market.
• This study also presents the competitive analysis, such as key strategies and capabilities of major players of the Smart Factory Market.