A smart factory is an advanced and automated manufacturing facility with cyber-physical systems ensuring efficient movement of materials across the factory floor. Smart Factories basically help in the Automation of the manufacturing process. These utilize devices such as sensors, motors, drives, switches and relays along with wired, wireless and radio frequency identification (RFID) network technologies. Better quality, increased productivity and lower operational cost as compared to traditional production systems are the various benefits of Smart Factory. Optimizing the value chain, optimizing the energy usage, and the integration of engineering and manufacturing by the adoption of IoT and M2M communication are the key factors driving the growth of the Industry. However, the major restraining factors are the shortage of trained workers, lack of interoperability and standardization. Other limiting factors include is the high transition cost involved in smart manufacturing and varied interfaces and protocols of industrial devices and equipment. APAC is expected to dominate the Smart Factory Market over the forecasted period owing to high growth being observed in the manufacturing sector in India and China.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which has been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Smart Factory. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Smart Factory Market has been segmented on the basis of Technology, Industry and Geography as follows:
Oil and Gas
Mining and Metal
Food and Beverage
Aerospace and Defense
Europe Middle East and Africa
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Fanuc, Siemens, ABB, Honeywell International, Yokogawa Electric, and Schneider Electric among others.