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

this market.

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

and electronics.

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

Market Dynamics

Drivers

  • 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

Restraints

  • Risk Associated With Security of Cyber-Physical System

  • Huge Capital Investment Required for the Transformation of Traditional

    Manufacturing Into Smart Factory

Opportunities

  • Ongoing Developments in the Field of Collabourative Robots

  • Advancement in 3d Printing Technology

Challenges

  • Lack of Interoperability Between Information Technology (IT) and

    Operational Technology (OT)

  • Low Rate of Adoption of the Smart Factory Solutions in Small and

    Medium-Sized Businesses

Companies Mentioned

  • ABB Ltd.

  • ATOS SE

  • Emerson Electric Co.

  • Fanuc Corporation

  • Flutura

  • General Electric Co.

  • Honeywell International Inc.

  • Key Innovators

  • Konux Inc.

  • Mitsubishi Electric Corporation

  • Robert Bosch GmbH

  • Rockwell Automation, Inc.

  • Schneider Electric SE

  • Siemens AG

  • Smart Factory Solutions

  • Worximity Technology Inc.

  • Yokogawa Electric Corporation

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