The goal of a smart factory is to optimize manufacturing processes, improve productivity, reduce downtime, enhance quality control, and enable more efficient supply chain management. The Smart Factory Market refers to the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), robotics, big data analytics, and other smart devices within the manufacturing industry.
The report analyzes various macro environments of the Smart Factory market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to the high cost of switching. The bargaining power of buyer is low due to the specialized products smart factory market and threat of substitute is low due to unavailability of alternate products.
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The smart factory application market is segmented into process industry and discrete industry. Process Industry is further segmented into pharmaceuticals, food & beverages, chemical and oil & gas. Discrete Industry is sub-segmented into automotive & transportation, packaging and mining, minerals & metals. Discrete industry is the largest revenue generating segment due to the rising demand for Smart Factory from automotive industry.
Geographically, the smart factory market is segmented into North America, Europe, Asia Pacific and RoW. Asia Pacific followed by North America is the largest revenue-generating segment due to its increasing adoption of Smart Factory in the automotive industry.
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Smart factory is the advanced factory that has cyber-physical systems where materials can be moved efficiently across the factory floor. This advanced system has integrated computing codes that provides automation solution. This automation can be deployed within 60 days in order to streamline and track the materials flow through the facility of manufacturing. Smart factory provides data models and factory- specific & MES templates for rapid use. The use of smart factories boosts the quality & productivity and cuts down the operational cost as compared to traditional production systems.
Key benefits of the report:
➢ Analysis of the smart factory market on the basis of various segments is expounded in the report, and segmental analysis is done to identify the largest revenue generating segment
➢ To study the various factors that are enhancing and restraining the growth of the smart factory market that would help the market players in deeply understanding the market
➢ Study of SWOT and analysis of the captivating strategies adopted by the players in the market is conducted, which would help in assisting the stakeholders to take actionable decisions
➢ Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market are expounded in the report; thus, help stakeholders analyze the market
➢ To find out the recent trends of the smart factory market and opportunities that would open doors for the investors to participate in the market, which in turn would help in the enlargement and expansion of marke
Smart factory field devices market is segmented into industrial robotics, articulated robot, control devices and industrial network. Industrial Robotics is further segmented into articulated robot, cylindrical robot, scara robot and cartesian robot. Control Devices is further segmented into sensors, relays & switches and motors & drive. Industrial Network is also sub-segmented into RFID System (Chipless RFID and Chip-Based RFID), Wireless Network (Chipsets, Microprocessor System and Sensors) and Wired Network. Industrial Network is the largest revenue generating segment due to differentiated products for various purposes.
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Key drivers that are propelling the growth of the market are included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Leading Market Players:
➢ Ubisense Group PLC
➢ System Insights, Inc.
➢ Operator System
➢ Mitsubishi Electric Corporation
➢ Microsoft
➢ Johnson Controls, Inc.
➢ Invensys PLC.
➢ General Electric Co.
➢ CMC Associates
➢ Apriso Corporation.
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