2017 Smart Factory Market by Technology (DCS, PLC, MES, ERP, SDADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing) – Global Forecast to 2022 – Research and Markets | Business Wire
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The smart factory market is projected to grow at a CAGR of 9.3% between
2017 and 2022, to reach USD 205.42 billion by 2022
The key driving factors for the growth of the smart factory market are
the increase in adoption of industrial robots, the evolution of Internet
of Things (IoT), growth in demand for smart automation solutions.
increase in emphasis on regulatory compliances. However, the factors
such as huge capital investments and the risks associated with security
of cyber-physical system are the major factors restraining the growth of
DCS technology is expected to hold a major share of the market by 2022.
This growth is attributed to a high rate of industrialisation in the
developing economies. The developing regions are witnessing the
expansion of the manufacturing activities at the highest pace due to the
availability of skilled workforce, low labour cost. Availability of
resources. Developing countries have expansion and capacity addition
plans related to the power sector, which would boost the demand for DCS.
The industrial 3D printing market is projected to grow at the highest
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rate between 2017 and 2022. The market growth is attributed to the
increasing adoption of 3D printing technology in industries such as
automotive, aerospace and defence, food and beverages. Semiconductor
The automotive industry is expected to hold the largest size of the
smart factory market during the forecast period. Advancement in
automotive manufacturing technologies and an increase in investment by
key automotive manufacturers are some of the factors expected to drive
the market for the automotive industry. Smart manufacturing plays a key
role in the development and production of quality automobiles.
Innovations in the assembly line methods are welcomed by the vehicle
manufacturers to enhance quality and increase factory productivity.
The smart factory market in the APAC region is projected to grow at the
highest rate between 2017 and 2022
Increasing Adoption of Industrial Robots
Evolution of Internet of Things (IoT) Technology and Growing Demand
for Smart Automation Solution
Increasing Emphasis on Regulatory Compliances Across the World
Increased Emphasis on Energy Efficiency, Resource Optimisation.
Cost of Production
Increasing Demand for Real-Time Data Analysis, Enhanced Visibility,
and Proactive Maintenance
Risk Associated With Security of Cyber-Physical System
Huge Capital Investment Required for the Transformation of Traditional
Manufacturing Into Smart Factory
Ongoing Developments in the Field of Collabourative Robots
Advancement in 3d Printing Technology
Lack of Interoperability Between Information Technology (IT) and
Operational Technology (OT)
Low Rate of Adoption of the Smart Factory Solutions in Small and
Emerson Electric Co.
General Electric Co.
Honeywell International Inc.
Mitsubishi Electric Corporation
Robert Bosch GmbH
Rockwell Automation, Inc.
Schneider Electric SE
Smart Factory Solutions
Worximity Technology Inc.
Yokogawa Electric Corporation
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