Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The "Smart Factory - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Smart Factory Market to Reach $294.9 Billion by 2030
The global market for Smart Factory estimated at US$152.2 Billion in the year 2022, is projected to reach a revised size of US$294.9 Billion by 2030, growing at a CAGR of 8.6% over the analysis period 2022-2030.
Control Equipment & Software, one of the segments analyzed in the report, is projected to record 8.8% CAGR and reach US$127.5 Billion by the end of the analysis period. Growth in the Reporting & Analysis Software segment is estimated at 10% CAGR for the next 8-year period. 
The U.S. Market is Estimated at $30.1 Billion, While China is Forecast to Grow at 9.9% CAGR
The Smart Factory market in the U.S. is estimated at US$30.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$62.1 Billion by the year 2030 trailing a CAGR of 9.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 6.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.
Select Competitors (Total 209 Featured)
- Daimler AG
- Fortinet, Inc.
- Advantech Co., Ltd.
- Festo Belgium NV
- AT&T Enterprise Business
- Arburg GmbH + Co. KG
- Critical Manufacturing S.A.
- ebm-papst Mulfingen GmbH & Co. KG
- Exor International SpA
- Flocktons TVP
- Comau SpA
- EOS GmbH
- CyberX
- Altizon Systems Pvt., Ltd.
- BinMaster
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 851 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $152.2 Billion |
| Forecasted Market Value (USD) by 2030 | $294.9 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Pivotal Role of Smart Factory Solutions in the Evolution of the Digitized Intelligent Factories of the Future
- Intelligent, Digitized & Automated Smart Factories to Transform the Manufacturing Industry
- Digital Factory Technologies for Improved Manufacturing Cell Design and Robotic Automation
- Intelligent Factories Provide Manufacturers New Business Opportunities
- Intelligent Factory Positively Impact Changes in Workforce Deployment
- Intelligent Factories Make Unplanned Downtime a Thing of the Past
- Intelligent Factories are Secured against Enhanced Threat Levels
- Intelligent Factories Enable Connected Supply Chain
- Technologies that Transform Traditional Factories into Intelligent Factories
- Fast Evolving Role of Industrial IoT Augurs Well for Future Expansion
- Industrial IoT: The Most Critical Technology for Industry 4.0 Transformation
- How Can IoT Meet the Needs of the Manufacturing Industry?
- Industrial IoT Enables Transition to Intelligent Factories
- Discrete Manufacturers Experiment with IoT Implementations
- IoT Set to Revolutionize the Supply Chain
- Essential IoT-based Digital Initiatives for Successful Transition of Manufacturers to Industry 4.0
- Emphasis on Gaining Competitive Edge Steers IIoT Adoption
- Machine Monitoring: The Most Common Way to Implement IIoT in Machine Shops
- Real-time Simulations: A Promising Technology Connecting Human, Machine, and Products in Smart Manufacturing
- M2M Communication: Essential for Seamless Connectivity between Multiple IoT Devices
- Need to Upgrade Existing Factories Offers Huge Untapped Market Growth Potential
- Aging Workforce & Shortage of Skilled Labor Aggravates the Woes of Old Factories
- Age Dependency Ratio in Select Countries (2010, 2020 & 2030): Percentage of Dependent People Per 100 Working Age Population
- Digital Talent: Need of the Hour for Digital Transition of Industrial Processes
- The Promise of Smart Factory in Ensuring Supply Chain Resilience Widens the Business Case
- AI for the 'Smart' Factor in Future Manufacturing Facilities
- Steady Adoption of Sophisticated Connectivity Solutions Lends Traction to Market Growth
- Mobile Technologies Enable Real-time Data Capture & Access for Creating Connected Production Environment
- Growing Use of Mobile Devices & Mobile Apps in Manufacturing Environments
- Overhaul of Existing Network Technologies: Essential for Industry 4.0
- 5G: A Network Technology with Enormous Potential to Drive Adoption of Industry 4.0
- Big Data and Cloud Computing: The New ICT Frontiers for Industry 4.0 Implementations
- Analytics: Critical for Making Sense of Data Deluge Resulting from the Transition to Smart Manufacturing
- Using Data for Enhanced Decision Making
- Smart Manufacturing: Major Application Area for Big Data Enabled Market
- Manufacturing-as-a-Service: An Apt Answer to the Growing Needs for Mass Customization
- Rising Need to Integrate Physical, Networking and Computation Processes Drive Demand for Cyber-Physical Systems
- Machine Tools: Promising Cyber Physical Systems
- Decentralized Model and BlockChain Enhances Continuous, Rapid Manufacturing
- Augmented Reality: Facilitating Industry 4.0 in a Fast, Interactive, and Reliable Way
- Industry 4.0 to Create Need for Mobile AR in Manufacturing Sector
- Enterprise Mobility, BYOD and CYOD to Drive Adoption of Mobile AR and Smart Wearables in Production Plants
- First-Person View (FPV) Communications Significantly Reduce Personnel Overheads
- Inspection, Maintenance & Repair of Production Floor Machinery: The 'Hands-Free View' Attribute of Smart AR Glasses
- The Vital Nature of Automated Material Handling in Industry 4.0 Spurs Market Demand
- Autonomous Vehicles: The Future of Material Handling Automation
- Self-Driving Vehicles to Transform Logistics Marketplace
- Advanced Robotics Impacts Automated Material Handling Equipment
- MES/MOM Systems: A Competing or Complimentary Technology to Smart Manufacturing?
- Manufacturing Execution System (MES): A Vital Cog in the Digitized Manufacturing Industry
- Supervisory Control and Data Acquisition (SCADA): The Backbone of the Smart Manufacturing Industry
- Complexity of Modern Industrial Processes Provides a Business Case for SCADA
- Smart & Intelligent Sensors: Basic Building Blocks of Smart Factory
- Sensor Manufacturers Enhance Capabilities to Meet Turnkey Solutions Demand of Manufacturers
- Myriad Benefits of Robots in Various Processes and Applications to Make the Fourth Industrial Revolution a Reality
- Growing Installations of Robots across Industrialized Countries Boost Market Prospects
- Additive Manufacturing (AM): Applications Timeline
- Rapid Manufacturing or DDM: Emerging Application of 3D Printing
- Additive Manufacturing of Metal Parts: An Evolving Market
- Mass Customization Represent the Key to Growth
- 3D Printing: Can it Completely Replace Conventional Manufacturing?
- Favorable Regulations and Standards Promote Adoption of Smart Factory Solutions on Factory Floors
- Standardization of Technologies: Critical for Smart Manufacturing Implementations
- Open Platform to Facilitate Migration towards Smart Manufacturing
- Industry 4.0/Smart Manufacturing: Key Issues & Challenges
- Huge Investments & Complex Networks
- Lack of Standardization & Privacy Concerns
- Cyber Security: A Major Risk of Industry 4.0
- Loss of Employment Opportunities
- Solutions to Resolve Technical Challenges Facing Establishment of Smart Factories
- End-Use Application Sectors: Trends & Drivers
- Ushering the Era of Smart Automotive Factories
- Global Airlines Performance by Region: 2020 Vs 2019
- Adoption of Industry 4.0 Inevitable for Food & Beverage Manufacturers for Driving Efficiencies
- Beer Brewing Industry: Another Important Industry Set to Adopt Industry 4.0
- Digitization in Beer Brewing Industry
- Innovations and Advancements
- Autonomous Robots: Powering the Factory of the Future
- Collaborative Robots to Work Hand-in-Glove with Humans in Smart Factories
- Digital Twin: The Next-Gen Manufacturing Software for Industry 4.0
- Edge Computing Seeks Role in Smart Factory
- Exosuits: Safety Standard for Workers in Dangerous Factory Jobs
- Siemens' Totally Integrated Automation (TIA) & Digital Enterprise Platform
- GE's Transformational Real-time Operational Intelligence
- FlexSim Simulation Technology
- genua's Cyber-Diode for Improved IT Security in Smart Factory Environments
- Baxter Robot: The Worker's Friend
- HARTING's Solutions for Integrated Industry
- SmartFactoryOWL: An Integrated System for Needs-Oriented Assembly Operations
- Asseco's APplus ERP II Solutions for SMEs
- BOGE airstatus Remote Diagnostics Tool
- Huawei's Smart and Connected Industrial Network Solution
- Flexible Conveyor Matrix Enables Networked & Cognitive Production
- M&M Cloud-based Service Platform Aids Continual Condition Monitoring
- ORBIS MPS for Transparency of Processes in Production & Intralogistics Areas
- Programmable Automation Controller (PAC): Combining PLC Features with Real-Time Motion Control
- Schaeffler Develops New Torque Sensor Technology
- SICK IO-Link Sensors Provide Better Capabilities to Packaging Machines
- Trebing + Himstedt Develop Self-Organized Capacity Management System
- Openmatics Develops ZF Logistics Tag based on BLE Technology
- Notable AR Innovations in Digital Manufacturing
- Noteworthy Adoptions and Implementations
- Audi's Smart Factory
- Nokia Digital Factory to Leverage 5G and Cobots for Complete Automation
- Foxconn Uses CNC Machines
- BMW Group Implements Industry 4.0
- FirstBuild's Internet-enabled Refrigerator with 3D-Printed Accessories
- Weidmuller Chooses Smart Technology for Regulating Fluctuations in Production
- ARBURG Employs Industrie 4.0 for Production of Individualized Products
- Bosch Rexroth Adopts Industrie 4.0 Concepts
- ebm-papst Benefits from Digitalization of Production Processes
- Siemens & Festo Collaborate for Innovative Multi-Carrier-System
- KUKA's Robot Provides Flexibility to Siemens Lead Factory for Electric Motors
- Sigma Air Manager 2 Master Controller Enables Intelligent Use of Compressed Air
- KSB's Digital Pump Solutions: Improving Production Functions & Services
- Schwering & Hasse Uses proALPHA Software for Automated Analysis of Production Data
- Eickhoff Wind Power Implements PROXIA Software for Seamless Production Monitoring
- Other Noteworthy Smart Factory/Industry 4.0 Adoptions & Implementations
For more information about this report visit https://www.researchandmarkets.com/r/jnp26x
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