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Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), Industry, and Geography - Global Forecast to 2024

Smart Factory Market by Technology (DCS, PLC, MES, ERP, SCADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), Industry, and Geography - Global Forecast to 2024

“The smart factory market to exhibit significant growth from 2019 to 2024”
The smart factory market is expected to be valued at USD 153.7 billion in 2019 and is expected to reach USD 244.8 billion by 2024, at a CAGR of 9.76% between 2019 and 2024. The market growth can be attributed to increasing adoption of industrial robots, evolution of the Internet of Things (IoT), growing demand for smart automation solutions, and increasing emphasis on regulatory compliances. However, huge capital investment and security threat of cyber physical systems act as restraints for the market.

“Growth in the demand of PLM solutions across various end-user industries is expected to encourage the growth of the smart factor market”
The growth of the PLM market can be attributed to the increasing demand for efficiency and productivity; rising need for collaboration across the global manufacturing lifecycle; wide adoption of end-to-end PLM solutions across new verticals such as power and energy, infrastructure & construction, and consumer goods among others; and rise in manufacturing activities in emerging economies such as China, India, and South Korea

“Cost-saving and operation optimization drive the market for MES”
The smart factory market for MES solution is likely to grow at the highest rate from 2019 to 2024. Manufacturers are adopting the MES technology to reduce cost and provide opportunities in the operation and deliverance of high-performance production assets across the supply chain. This is leading toward high growth rate for the MES segment. There is a growing need to centralize business data in enterprises and track multi-plant operations with the help of real-time data analysis; this is one of the features of MES empowering the growth of this market.

“APAC to be fastest-growing market for smart factory during the forecast period”
Among all regions, the market in APAC is expected to grow at the highest rate from 2019 to 2024. The growth of the market in this region is attributed to the technological innovation and increasing adoption of automation technologies in various industries. Major application industries for the smart factory market in APAC are chemicals, oil & gas, water, semiconductor, electronics, food, and automotive. APAC is an auto-manufacturing hub, and hence motor vehicle suppliers such as Volkswagen (Germany), Toyota Motor Corporation (Japan), Renault-Nissan Alliance (Netherlands), Daimler (Germany), and the local manufacturers such as Tata Motors (India), and Mahindra and Mahindra (India) have made investments in automating their production sites in the coming years.

Break-up of profiles of primary participants for the report:
By Company type: Tier 1: 50%, Tier 2: 30%, and Tier 3: 20%
By Designation: C-level Executives: 70%, Directors: 20%, and Others 10%
By Region: North America: 40%, Europe: 35%, APAC: 15%, RoW: 10%

Key players that offer solutions related to the smart factory market are ABB (Switzerland), Emerson Electric (US), FANUC (Japan) General Electric (US), Honeywell International (US), Mitsubishi Electric (Japan), Robert Bosch (Germany), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), and Yokogawa Electric (Japan). These companies operate globally and provide technologies and components related to smart factory.

The global smart factory market has been segmented on the basis of components, technology, industry, and geography. The smart factory market based on components has been segmented into industrial robots, machine vision, industrial 3D printing and sensors. By technology, the smart factory market has been split into SCADA, DCS, MES, PAM, PLC, ERP, HMI, and PLM. Industries that implement smart factory solutions are process industries and discrete industries. The smart factory market, by geography, has been segmented into 4 regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to Buy the Report:
Illustrative segmentation, analysis, and forecast for markets based on component, solutions, industry, and region have been included to give an overall view of the smart factory market.
Major drivers, restraints, opportunities, and challenges for the smart factory market have been detailed in this report.
The report includes a detailed information on competitive landscape, along with key players, in-depth analysis, and revenue of key players.


  • INTRODUCTION
    • STUDY OBJECTIVES
    • DEFINITION
    • SCOPE OF THE STUDY
      • MARKETS COVERED
      • GEOGRAPHIC SCOPE
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
      • SECONDARY AND PRIMARY RESEARCH
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • MARKET BREAKDOWN AND DATA TRIANGULATION
    • ASSUMPTIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • SMART FACTORY MARKET, 2019-2024 (USD BILLION)
    • SMART FACTORY MARKET, BY COMPONENT (2019-2024)
    • SMART FACTORY MARKET, 2019-2024 (USD BILLION)
    • SMART FACTORY MARKET, BY INDUSTRY AND TYPE
    • SMART FACTORY MARKET, PARTNERSHIPS
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • ENABLING TECHNOLOGIES OF SMART FACTORY ECOSYSTEM
      • ARTIFICIAL INTELLIGENCE
      • AUGMENTED REALITY (AR)
      • BIG DATA AND ANALYTICS
      • BLOCKCHAIN
      • INDUSTRIAL CYBERSECURITY
      • 5G
  • SMART FACTORY MARKET, BY COMPONENT
    • INTRODUCTION
      • Table SMART FACTORY MARKET, BY COMPONENT, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR COMPONENT, BY INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR COMPONENT, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR COMPONENT, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
    • SENSORS
      • Table SMART FACTORY MARKET FOR SENSORS, BY INDUSTRY, 2015-2024 (USD BILLION)
      • EVOLUTION OF SENSOR TECHNOLOGY EMPOWERING SMART FACTORY MARKET
        • Table SMART FACTORY MARKET FOR SENSOR, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR SENSOR, BY DISCRETE INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR SENSORS, BY REGION, 2015-2024 (USD BILLION)
    • INDUSTRIAL ROBOTS
      • Table SMART FACTORY MARKET FOR INDUSTRIAL ROBOTS, BY TYPE, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR INDUSTRIAL ROBOTS, BY INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR INDUSTRIAL ROBOTS, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR INDUSTRIAL ROBOTS, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR INDUSTRIAL ROBOTS, BY REGION, 2015-2024 (USD BILLION)
      • TRADITIONAL INDUSTRIAL ROBOTS
      • COLLABORATIVE ROBOTS
    • INDUSTRIAL 3D PRINTING
      • Table SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY INDUSTRY, 2015-2024 (USD MILLION)
      • EVOLUTION OF INDUSTRIAL 3D PRINTING TO DRIVE SMART FACTORY MARKET
        • Table SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR INDUSTRIAL 3D PRINTING, BY REGION, 2015-2024 (USD BILLION)
    • MACHINE VISION
      • Table SMART FACTORY MARKET FOR MACHINE VISION, BY INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR MACHINE VISION, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR MACHINE VISION, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR MACHINE VISION, BY REGION, 2015-2024 (USD BILLION)
      • CAMERA
      • FRAME GRABBERS, OPTICS, AND LED LIGHTING
      • PROCESSOR AND SOFTWARE
  • SMART FACTORY MARKET, BY TECHNOLOGY
    • INTRODUCTION
      • Table SMART FACTORY MARKET, BY TECHNOLOGY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR TECHNOLOGY, BY INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR TECHNOLOGY, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR TECHNOLOGY, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
    • PRODUCT LIFE CYCLE MANAGEMENT (PLM)
      • GLOBAL DEMAND FOR EFFICIENCY AND PRODUCTIVITY IN MANUFACTURING PLANTS
        • Table SMART FACTORY MARKET FOR PLM, BY INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR PLM, BY PROCESS INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR PLM, BY DISCRETE INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR PLM, BY REGION, 2015-2024 (USD MILLION)
    • MANUFACTURING EXECUTION SYSTEM (MES)
      • INCREASING ADOPTION OF MANUFACTURING EXECUTION SYSTEM (MES) TO OFFER GROWING BENEFITS TO PROCESS AND DISCRETE INDUSTRIES
        • Table SMART FACTORY MARKET FOR MES, BY PROCESS INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR MES, BY DISCRETE INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR MES, BY REGION, 2015-2024 (USD MILLION)
    • PROGRAMMABLE LOGIC CONTROLLER (PLC)
      • GROWING DEMAND FOR MICRO AND NANO PLCS IN SMART FACTORY MARKET
        • Table SMART FACTORY MARKET FOR PLC, BY INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR PLC, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR PLC, BY REGION, 2015-2024 (USD BILLION)
    • SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
      • SHIFT TOWARD THE DEVELOPMENT OF SCADA APP FOR SMARTPHONES TO UPLIFT THE SMART FACTORY MARKET GROWTH
        • Table SMART FACTORY MARKET FOR SCADA, BY PROCESS INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR SCADA, BY DISCRETE INDUSTRY, 2015-2024 (USD MILLION)
        • Table SMART FACTORY MARKET FOR SCADA, BY REGION, 2015-2024 (USD MILLION)
    • ENTERPRISE RESOURCE PLANNING (ERP)
      • POTENTIAL OF INTEGRATING CRITICAL BUSINESS INFORMATION ACROSS AN ORGANIZATION DRIVES THE ADOPTION OF ERP SOLUTIONS IN SMART FACTORIES
        • Table SMART FACTORY MARKET FOR ERP, BY INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR ERP, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR ERP, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR ERP, BY REGION, 2015-2024 (USD BILLION)
    • DISTRIBUTED CONTROL SYSTEM (DCS)
      • EXPANDING INDUSTRIAL INFRASTRUCTURE IN DEVELOPING REGIONS
        • Table SMART FACTORY MARKET FOR DCS, BY INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR DCS, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR DCS, BY REGION, 2015-2024 (USD MILLION)
    • HUMAN-MACHINE INTERFACE (HMI)
      • EVOLUTION OF INDUSTRIAL INTERNET OF THINGS (IIOT) LEADING TO ADOPTION OF HMI
        • Table SMART FACTORY MARKET FOR HMI, BY INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR HMI, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR HMI, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
        • Table SMART FACTORY MARKET FOR HMI, BY REGION, 2015-2024 (USD BILLION)
    • PLANT ASSET MANAGEMENT (PAM)
      • PAM TO PREDICT FAILURE IN ADVANCE TO AVOID FUTURE LOSS
        • Table SMART FACTORY MARKET FOR PLANT ASSET MANAGEMENT (PAM), BY INDUSTRY, 2015-2024 (USD BILLION)
  • SMART FACTORY MARKET, BY INDUSTRY
    • INTRODUCTION
      • Table SMART FACTORY MARKET, BY INDUSTRY, 2015-2024 (USD BILLION)
    • PROCESS INDUSTRY
      • Table SMART FACTORY MARKET, BY PROCESS INDUSTRY, 2015-2024 (USD BILLION)
      • OIL AND GAS
      • CHEMICALS
      • PULP AND PAPER
      • PHARMACEUTICALS
      • METALS AND MINING
      • FOOD AND BEVERAGES
      • ENERGY AND POWER
      • OTHERS
    • DISCRETE INDUSTRY
      • Table SMART FACTORY MARKET, BY DISCRETE INDUSTRY, 2015-2024 (USD BILLION)
      • AUTOMOTIVE
      • AEROSPACE AND DEFENSE
      • SEMICONDUCTOR AND ELECTRONICS
      • MACHINE MANUFACTURING
      • MEDICAL DEVICES
      • OTHERS
  • SMART FACTORY MARKET, BY GEOGRAPHY
    • INTRODUCTION
      • Table SMART FACTORY MARKET, BY REGION, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR TECHNOLOGY, BY REGION, 2015-2024 (USD BILLION)
      • Table SMART FACTORY MARKET FOR COMPONENT, BY REGION, 2015-2024 (USD BILLION)
    • NORTH AMERICA
      • Table SMART FACTORY MARKET, BY NORTH AMERICA, 2015-2024 (USD BILLION)
      • US
      • CANADA
      • MEXICO
    • EUROPE
      • Table SMART FACTORY MARKET, BY EUROPE, 2015-2024 (USD BILLION)
      • UK
      • GERMANY
      • FRANCE
      • ITALY
      • REST OF EUROPE
    • APAC
      • Table SMART FACTORY MARKET, BY APAC, 2015-2024 (USD BILLION)
      • CHINA
      • JAPAN
      • SOUTH KOREA
      • INDIA
      • REST OF APAC
    • REST OF THE WORLD (ROW)
      • Table SMART FACTORY MARKET, BY ROW, 2015-2024 (USD BILLION)
      • SOUTH AMERICA
      • MIDDLE EAST & AFRICA
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • COMPETITIVE ANALYSIS
      • MARKET RANKING ANALYSIS: SMART FACTORY MARKET, 2017
      • FINANCIAL AND OPERATIONAL PERFORMANCE BENCHMARKING FOR SELECT COMPANIES IN SMART FACTORY MARKET
    • COMPETITIVE LEADERSHIP MAPPING, 2018
      • VANGUARDS
      • DYNAMIC DIFFERENTIATORS
      • INNOVATORS
      • EMERGING COMPANIES
    • COMPETITIVE SITUATION AND TRENDS
      • AGREEMENTS, CONTRACTS, JOINT VENTURES, COLLABORATIONS & PARTNERSHIPS
        • Table AGREEMENTS, CONTRACTS, JOINT VENTURES, COLLABORATIONS & PARTNERSHIPS 2017-2018
      • PRODUCT LAUNCHES AND DEVELOPMENTS
        • Table PRODUCT LAUNCHES AND DEVELOPMENTS 2017-2018
      • ACQUISITIONS AND EXPANSIONS
        • Table ACQUISITIONS AND EXPANSIONS 2017-2018
  • COMPANY PROFILES
    • KEY PLAYERS
      • SIEMENS
      • GENERAL ELECTRIC
      • ABB
      • ROCKWELL AUTOMATION
      • SCHNEIDER ELECTRIC
      • HONEYWELL
      • FANUC
      • MITSUBISHI ELECTRIC
      • EMERSON ELECTRIC
      • YOKOGAWA ELECTRIC
      • ROBERT BOSCH
      • STRATASYS
    • OTHER PLAYERS
      • TE CONNECTIVITY
      • TEXAS INSTRUMENTS
      • HP
      • KUKA
      • SAP
      • OMRON
      • DASSAULT SYSTEMES
      • QUALCOMM
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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