Smart factory is vastly digitalized & connected manufacture facility that relies on smart manufacturing. It is a combination of high-tech tools & high-tech workers and provides greater intelligence, creates an overall cognitive & self-healing system and serves to decentralize manufacturing. It also offers real-time quality & time benefits leading to Manufacturing Execution Systems (MES), data models and factory-specific templates for rapid usage. Some of the other important benefits are production & remote maintenance, virtual planning of product, reduce workforce challenges, seamless digital network, decentralized control of production, enhanced productivity, integration of IT systems & analytics, and significant cost reduction.
According to study, “Global Smart Factory Market Size study, by Type (Process Manufacturing, Discrete Manufacturing, Others), by End-Use (Automobile and Transportation, Food & Beverage, Electrical & Electronics, Chemical & Material, Oil & Gas, Others) and Regional Forecasts 2018-2025” the key companies currently operating in the global smart factory market are Siemens AG, Honeywell International Inc., ASEA BROWN BOVERI (ABB) Ltd., General Electric Company, Ubisense Group Plc., Yokogawa Electric Corp., Mitsubishi Electric Corp., Atos SE, Emerson Electric Company, Smart Factory Solutions, Swisslog Holding AG, ATOS SE, Microsoft, Rockwell Automation Inc., Kuka Aktiengesellschaft, Yokogawa Electric Corporation, Flutura, CMC Associates, Invensys PLC, Robert Bosch GmbH, Fanuc Corp., Schnieder Electric, Konux Inc., Johnson Controls Inc., Worximity Technology Inc., Apriso Corp., Robert Bosch GmbH, Honeywell International, Inc., Oracle Corporation, Cognex Corporation, IBM Corporation.
Based on the component, global smart factory market is segmented into industrial robots, industrial 3D printing, communication technology (wired & wireless), camera, sensors and machine vision systems. Industrial robots include cylindrical, articulated, collaborative robots, Cartesian robots, delta robots, gantry robots, parallel robots and scara & Cartesian robot. Camera is further sub-segmented into smart cameras, digital camera, processor & software and frame grabbers or optics & led Lighting. Based on type, market is segmented into discrete manufacturing, process manufacturing and others. Based on technology, market is separated into industrial control system, Manufacturing Execution System (MES), Product Life Cycle Management (PLM), supervisory control and data acquisition system (SCADA), Human Machine Interface (HMI), Programmable Logic Controller (PLC), Distributed Control System (DCS), Plant Asset Management (PAM), industrial logistics, and Enterprise Resource Planning (ERP). Based on the field devices, market is segmented into industrial robotics, control devices, articulated robots, industrial network and others. Use of control device is further sub-segmented into relays, motors, switched and drives. Industrial devices sub-segment into wired network, RFID systems, and wireless network.
The global smart factory is primarily driven by rising industry digitalization, increase practice for advanced base for manufacturing, growing demand across end use industries, rising focus on power or energy consumption & manufacturing efficiency and favorable government support. The major aspects which limit the market include lack of standardization & interoperability, high cost of installation, sensitivity of cyber-physical security threat and shortage of skilled workforce. In addition, ongoing development in field of collaborative robots is a big opportunity for market.
North America holds the prominent share due to rise in adoption of the automotive sector. Asia-Pacific is expected to register a higher CAGR owing to emerging industrial sector and stringent government regulation in the region.
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