Product Code: PM2746
The global smart factory market size is expected to reach USD 191.02 billion by 2030 according to a new study by Polaris Market Research. The report "Smart Factory Market Share, Size, Trends, Industry Analysis Report, By Component; By Solution (SCADA, MES, Industrial Safety, PAM); By Industry (Process Industry, Discrete Industry); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Industry 4.0 is being implemented and adopted more widely, driving the market's growth. The market share has increased due to rising automation and software-based procedures. Real-time analysis and synchronization have been made accessible to the global market by smart technologies, helping to reduce costs and save time.
A digital platform known as a "smart factory" allows data to be transmitted in real-time between numerous linked devices, machinery, and other systems. Technology transfers the transmitted data through the market to optimize devices and handle difficulties with ease.
During a pandemic, a lockdown may cause the halting operation of industrial applications. To minimize the rapid transmission of viruses, manufacturers and many industrialists adopt smart technologies to stop human interaction for many processes. This will also affect the overall market of the smart factory.
Rising demand for technologies such as IoT and artificial intelligence in the industrial environment is supposed to influence the market's growth over the forecast period. Additionally, a growing number of developments in wireless sensor networks, with their adoption in smart factories and the emergence of 5G technology, are creating lucrative opportunities for industrial players.
Smart Factory Market Report Highlights
Industrial sensors acquired the most significant market share in 2021 due to the increased use of these sensors in various industries.
PAM solutions acquired the most significant market share in 2021 due to developing a comprehensive data library for the various equipment placed in the units, from their uptime performance to their life cycle cost analysis.
The process industry segment is supposed to account for the largest market share due to the increasing benefits of smart manufacturing solutions, such as the fastest decision-making process, energy efficiency, and improved product quality in the oil & gas sector.
Asia Pacific is projected to register the highest CAGR during the forecast period due to the increasing adoption of industrial robots and the growing utilization of cloud-based smart manufacturing solutions.
Major players operating in the market include Abb Ltd., Brenton LLC, Comau S.P.A., Denso Robotics, Doosan Robotics Inc., Fanuc, Kawasaki Heavy Industries Ltd., Krones AG, Kuka AG, Mitsubishi Electric Corp., Nachi-Fujikoshi Corp., Omron Corporation, Panasonic Corporation, Precise Automation, Rethink Robotics GmbH, Schneider Electric S.E., Techman Robot Inc., Universal Robots, and Yaskawa Electric Corporation.
Polaris Market Research has segmented the smart factory market report based on component, solution, industry and region:
Smart Factory, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Industrial Sensor
Industrial Robots
Industrial 3D Printing
Machine Vision
Smart Factory, Solution Outlook (Revenue - USD Billion, 2018 - 2030)
SCADA
MES
Industrial Safety
PAM
Smart Factory, Industry Outlook (Revenue - USD Billion, 2018 - 2030)
Process Industry
Oil & Gas
Chemicals
Pharmaceuticals
Energy & Power
Metal & Mining
Pulp & Paper
Food & Beverages
Discrete Industry
Automotive
Aerospace & Defense
Semiconductor & Electronics
Machine Manufacturing
Medical Devices
Smart Factory, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Smart Factory Market Insights
- 4.1. Smart Factory - Industry Snapshot
- 4.2. Smart Factory Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing usage of robots in the manufacturing industry
- 4.2.1.2. Cost reduction in production operations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Security risk associated with cyber-physical systems
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Smart Factory Market Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Smart Factory Market, by Component
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 5.3. Industrial Sensor
- 5.3.1. Global Smart Factory Market, by Industrial Sensor, by Region, 2018 - 2030 (USD Billion)
- 5.4. Industrial Robots
- 5.4.1. Global Smart Factory Market, by Industrial Robots, by Region, 2018 - 2030 (USD Billion)
- 5.5. Industrial 3D Printing
- 5.5.1. Global Smart Factory Market, by Industrial 3D Printing, by Region, 2018 - 2030 (USD Billion)
- 5.6. Machine Vision
- 5.6.1. Global Smart Factory Market, by Machine Vision, by Region, 2018 - 2030 (USD Billion)
6. Global Smart Factory Market, by Solution
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 6.3. SCADA
- 6.3.1. Global Smart Factory Market, by SCADA, by Region, 2018 - 2030 (USD Billion)
- 6.4. MES
- 6.4.1. Global Smart Factory Market, by MES, by Region, 2018 - 2030 (USD Billion)
- 6.5. Industrial Safety
- 6.5.1. Global Smart Factory Market, by Industrial Safety, by Region, 2018 - 2030 (USD Billion)
- 6.6. PAM
- 6.6.1. Global Smart Factory Market, by PAM, by Region, 2018 - 2030 (USD Billion)
7. Global Smart Factory Market, by Industry
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 7.3. Process Industry
- 7.3.1. Global Smart Factory Market, by Process Industry, by Region, 2018 - 2030 (USD Billion)
- 7.3.2. Oil & Gas
- 7.3.2.1. Global Smart Factory Market, by Oil & Gas, by Region, 2018 - 2030 (USD Billion)
- 7.3.3. Chemicals
- 7.3.3.1. Global Smart Factory Market, by Chemicals, by Region, 2018 - 2030 (USD Billion)
- 7.3.4. Pharmaceuticals
- 7.3.4.1. Global Smart Factory Market, by Pharmaceuticals, by Region, 2018 - 2030 (USD Billion)
- 7.3.5. Energy & Power
- 7.3.5.1. Global Smart Factory Market, by Energy & Power, by Region, 2018 - 2030 (USD Billion)
- 7.3.6. Metal & Mining
- 7.3.6.1. Global Smart Factory Market, by Metal & Mining, by Region, 2018 - 2030 (USD Billion)
- 7.3.7. Pulp & Paper
- 7.3.7.1. Global Smart Factory Market, by Pulp & Paper, by Region, 2018 - 2030 (USD Billion)
- 7.3.8. Food & Beverages
- 7.3.8.1. Global Smart Factory Market, by Food & Beverages, by Region, 2018 - 2030 (USD Billion)
- 7.4. Discrete Industry
- 7.4.1. Global Smart Factory Market, by Discrete Industry, by Region, 2018 - 2030 (USD Billion)
- 7.4.2. Automotive
- 7.4.2.1. Global Smart Factory Market, by Automotive, by Region, 2018 - 2030 (USD Billion)
- 7.4.3. Aerospace & Defense
- 7.4.3.1. Global Smart Factory Market, by Aerospace & Defense, by Region, 2018 - 2030 (USD Billion)
- 7.4.4. Semiconductor & Electronics
- 7.4.4.1. Global Smart Factory Market, by Semiconductor & Electronics, by Region, 2018 - 2030 (USD Billion)
- 7.4.5. Machine Manufacturing
- 7.4.5.1. Global Smart Factory Market, by Machine Manufacturing, by Region, 2018 - 2030 (USD Billion)
- 7.4.6. Medical Devices
- 7.4.6.1. Global Smart Factory Market, by Medical Devices, by Region, 2018 - 2030 (USD Billion)
8. Global Smart Factory Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Smart Factory Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 8.3. Smart Factory Market - North America
- 8.3.1. North America: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.2. North America: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.3.3. North America: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.3.4. Smart Factory Market - U.S.
- 8.3.4.1. U.S.: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.4.2. U.S.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.3.4.3. U.S.: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.3.5. Smart Factory Market - Canada
- 8.3.5.1. Canada: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.3.5.2. Canada.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.3.5.3. Canada: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4. Smart Factory Market - Europe
- 8.4.1. Europe: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.2. Europe.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.3. Europe: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.4. Smart Factory Market - UK
- 8.4.4.1. UK: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.4.2. UK.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.4.3. UK: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.5. Smart Factory Market - France
- 8.4.5.1. France: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.5.2. France.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.5.3. France: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.6. Smart Factory Market - Germany
- 8.4.6.1. Germany: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.6.2. Germany.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.6.3. Germany: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.7. Smart Factory Market - Italy
- 8.4.7.1. Italy: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.7.2. Italy.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.7.3. Italy: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.8. Smart Factory Market - Spain
- 8.4.8.1. Spain: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.8.2. Spain.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.8.3. Spain: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.9. Smart Factory Market - Netherlands
- 8.4.9.1. Netherlands: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.9.2. Netherlands.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.9.3. Netherlands: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.4.10. Smart Factory Market - Russia
- 8.4.10.1. Russia: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.4.10.2. Russia.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.4.10.3. Russia: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5. Smart Factory Market - Asia Pacific
- 8.5.1. Asia Pacific: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.2. Asia Pacific.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.3. Asia Pacific: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.4. Smart Factory Market - China
- 8.5.4.1. China: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.4.2. China.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.4.3. China: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.5. Smart Factory Market - India
- 8.5.5.1. India: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.5.2. India.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.5.3. India: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.6. Smart Factory Market - Malaysia
- 8.5.6.1. Malaysia: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.6.2. Malaysia.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.6.3. Malaysia: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.7. Smart Factory Market - Japan
- 8.5.7.1. Japan: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.7.2. Japan.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.7.3. Japan: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.8. Smart Factory Market - Indonesia
- 8.5.8.1. Indonesia: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.8.2. Indonesia.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.8.3. Indonesia: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.5.9. Smart Factory Market - South Korea
- 8.5.9.1. South Korea: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.5.9.2. South Korea.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.5.9.3. South Korea: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.6. Smart Factory Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.2. Middle East & Africa.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.6.3. Middle East & Africa: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.6.4. Smart Factory Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.6.4.3. Saudi Arabia: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.6.5. Smart Factory Market - UAE
- 8.6.5.1. UAE: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.5.2. UAE.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.6.5.3. UAE: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.6.6. Smart Factory Market - Israel
- 8.6.6.1. Israel: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.6.2. Israel.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.6.6.3. Israel: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.6.7. Smart Factory Market - South Africa
- 8.6.7.1. South Africa: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.6.7.2. South Africa.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.6.7.3. South Africa: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.7. Smart Factory Market - Latin America
- 8.7.1. Latin America: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.2. Latin America.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.7.3. Latin America: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.7.4. Smart Factory Market - Mexico
- 8.7.4.1. Mexico: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.4.2. Mexico.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.7.4.3. Mexico: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.7.5. Smart Factory Market - Brazil
- 8.7.5.1. Brazil: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.5.2. Brazil.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.7.5.3. Brazil: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
- 8.7.6. Smart Factory Market - Argentina
- 8.7.6.1. Argentina: Smart Factory Market, by Component, 2018 - 2030 (USD Billion)
- 8.7.6.2. Argentina.: Smart Factory Market, by Industry, 2018 - 2030 (USD Billion)
- 8.7.6.3. Argentina: Smart Factory Market, by Solution, 2018 - 2030 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. ABB (ASEA BROWN BOVERI) Group
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Cisco Systems, Inc
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Emerson Electric Company
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Fanuc
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. General Electric Company
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Honda
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Honeywell International, Inc
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. IBM Corporation
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Johnson Controls International PLC
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Mitsubishi Electric
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Omron
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Oracle Corporation
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Robert Bosch GmbH
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Rockwell Automation Inc
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. SAP SE
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Schneider Electric SE
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. Siemens AG
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development
- 10.18. Suzuki
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.18.4. Recent Development
- 10.19. Toyota
- 10.19.1. Company Overview
- 10.19.2. Financial Performance
- 10.19.3. Product Benchmarking
- 10.19.4. Recent Development
- 10.20. Wipro Limited
- 10.20.1. Company Overview
- 10.20.2. Financial Performance
- 10.20.3. Product Benchmarking
- 10.20.4. Recent Development
- 10.21. Yokogawa Electric Corporation
- 10.21.1. Company Overview
- 10.21.2. Financial Performance
- 10.21.3. Product Benchmarking
- 10.21.4. Recent Development