Smart Factory Market Future Challenges and Growth Outlook by 2025
The increasing adoption of Smart Factory Market technology has driven the demand for smart industrial solutions to save operational and labor costs, driving the market size. Digitally advanced factories have been manufacturing industrial robots that are replacing human laborers in several operations with the help of evolutionary technologies like Big Data, AI, analytics and IoT.
Sensing components like actuators and sensors are significantly advanced and are increasingly being adopted by companies owing to their benefit of integrated computing abilities with low power consumption, which is expected to contribute to smart factory market expansion.
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It has been observed that numerous industries have been adopting automation technologies across APAC, on the grounds of which the region will depict substantial growth in the years to come. The government of China has introduced the “Made in China 2025” initiative which is expected to invest nearly USD 3 billion in the advanced manufacturing sector.
The government of India on October,2018 released a draft on National Policy on Electronics (NPE), that claims the electronic manufacturing industry in India to be worth USD 400 billion by 2025. The government initiatives in the region to develop the manufacturing sector will provide number of opportunities for the growth of APAC smart factory market.
Europe and North America are increasingly adopting robots due to the rising labor costs and high investment that is required in employee training. Additionally, the robots are designed with several advanced software and sensors that help them work along with the humans effectively and safely, thereby augmenting industrial robot-based smart factory market share.
Industrial robots are capable of increasing productivity and eliminating human errors thus gaining popularity over human workers. Robots tend to reduce a large amount of industrial waste owing to their consistent precision in producing high quality products. They also keep the laborers motivated and safe by handling dangerous and critical manufacturing applications.
The prominent players operating in the smart factory market include General Electric, Honeywell International Inc., ABB, Emerson Electric, Robert Bosch GmbH, Schneider Electric
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Table of Content
Chapter 4. Smart Factory Market, By Component
4.1. Key trends by component
4.2. Hardware
4.2.1. Market estimates and forecast, 2015 – 2025
4.2.2. Sensors
4.2.2.1. Market estimates and forecast, 2015 – 2025
4.2.3. Industrial robots
4.2.3.1. Market estimates and forecast, 2015 – 2025
4.2.3.2. Articulated robots
4.2.3.2.1. Market estimates and forecast, 2015 – 2025
4.2.3.3. Cartesian robots
4.2.3.3.1. Market estimates and forecast, 2015 – 2025
4.2.3.4. SCARA robots
4.2.3.4.1. Market estimates and forecast, 2015 – 2025
4.2.3.5. Cylindrical robots
4.2.3.5.1. Market estimates and forecast, 2015 – 2025
4.2.3.6. Collaborative robots
4.2.3.6.1. Market estimates and forecast, 2015 – 2025
4.2.4. Machine vision
4.2.4.1. Market estimates and forecast, 2015 – 2025
4.2.5. Others
4.2.5.1. Market estimates and forecast, 2015 – 2025
Chapter 5. Smart Factory Market, By Application
5.1. Key trends by application
5.2. Automotive
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Aerospace & defense
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Food & beverage
5.4.1. Market estimates and forecast, 2015 – 2025
5.5. Electrical & Electronics
5.5.1. Market estimates and forecast, 2015 – 2025
5.6. Energy & Power
5.6.1. Market estimates and forecast, 2015 – 2025
5.7. Others
5.7.1. Market estimates and forecast, 2015 – 2025
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