The research report Smart Factory Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024”, Global Smart Factory Market size is witnessing a substantial growth, with increasing demand for smart production technology, includes quality & productivity and zero defect.
Growing demand for efficient and energy saving production process is likely to fuel the smart factory market demand. The advanced factories provide complete automation solutions for production facilities to streamline the flow of materials without wasting any time by connecting machine to machine communication.
Increasing adoption of industrial robots, digital transformation and development of internet services by manufacturers are the major factors which will propel the smart factory market growth in future. Industrial evolutions in the technology enhancements has resulted in upgraded production facility in terms of efficiency couple with minimum waste & defects.
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In manufacturing process, industrial robot is a disruptive technology and is anticipated to bring a revolution in smart factory market. Implementation of industrial robotics has led to advanced production processes which can improve the productivity, reduce the human errors and increase the production volume.
Large presence of automotive manufacturing units and high investments by leading companies are the key factors driving demand in the Europe region. Enhancing the production output along with quality products will further augment the demand in forecasted time period.
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The prominent players of smart factory market include Siemens AG, General Electric Company, Fanuc Corporation, ABB Ltd., Schneider Electric and Honey International Inc. Some other notable players in this market include Yokogawa Electric Corporation, Kuka Aktiengesellschaft, Atos SE, Johnson Controls Inc., Emerson Electric Company and Robert Bosch GmbH. In April 2017, Honey International Inc, introduced a new lightweight satellite communication system for cockpit safety in order to provide facilities to aviation sector.
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