A smart factory infers a variability of fully combined computerization solutions applied for industrial facilities. It is an extremely digitized and linked production facility that usages smart technology for industrial various products. The model of the smart factory is measured a crucial consequence of the Industry 4.0 or fourth industrial revolution. Smart manufacturing used by manufacturing companies that work by using technology like artificial intelligence (AI), robotics, the internet of things (IoT), analytics, and big data and can generally run autonomously with the ability to self-correcting and self-learning. The smart factories typical are visibility, connectivity, and autonomy.
According to the report analysis,’ Global Smart Factory Market 2020-2026 by Component, Product (Industrial 3D Printing, Sensors, Machine Vision, Industrial Robots, Industrial Network, Control Devices), Technology, End User, and Region: Trend Forecast and Growth Opportunity’ The smart factory market is an exceedingly competitive market and contains of numerous major players. In terms of market share, some of the major players presently dominate the market, and the market is moving toward a consolidated stage. These companies are leveraging on strategic creativities, like mergers and acquisitions, partnerships, and product innovation to upsurge their market shares and productivity. The major players in the market are ABB Ltd., Adept Technology Inc., ATOS SE, Bharat Heavy Electrical Ltd, Nextnine Ltd, NovaTech Process Solutions LLC, Omron Corporation, Oracle Corporation, Panasonic Corporation (Activelink), Pari Robotics, Rethink Robotics, Inc., Robert Bosch GmbH, Rockwell Automation Inc., Danaher Corporation, Ellison Technologies Inc., Emerson Electric Co., Epson Robotics, Fanuc Corp., FLIR Systems Inc., General Electric Co., Genmark Automation, Inc., Hitachi, Ltd. Honeywell International Inc., Johnson Controls Inc, Kawasaki Robotics Inc., Konux Inc., KukaAktiengesellschaft, Metso Corporation, Mitsubishi Electric Corp., Samsung Electronics, Schneider Electric SE, Siemens AG, Staubli International AG, Toshiba Machine Co., Ltd., Cisco Systems, Inc., Cognex Corporation, Comau S.p.A, Daihen Corp., Nachi Fujikoshi Corp., Universal Robots, Wipro Limited, Yamaha Robotics, Yaskawa Electric Corp. and Yokogawa Electric Corporation.
Geographically, the regions are divided into APAC, Europe, North America, South America and the remainder of the world. North America leads the smart factory market since of the presence of the multinational companies’ subsidy in the research and development for industrial technologies, industrial Internet of Things (IoT) and along with the cloud technology are the factors that will additionally increase the development of the smart factory market in the region. Asia Pacific is predictable to observer significant amount of development in the smart factory market since of the strict government administrations and the forward of the industrial sector are the factors that are anticipated to further drive the growth of the smart factory market in the region throughout the forecast period.
Additionally, major factors expected to boost the growth of the smart factory market are the increasing consideration on the energy absorption, manufacturing efficiency, and the increasing practice for a developed base for the manufacturing. Moreover, the industry concentrations on the cyber world in which each element of the value chain would be linked to assure informed industrial with no-time lags and zero defects are the factors further projected to definitely impact the growth of the smart factory market in the forecast period. Therefore, it is expected that the market of Global Smart Factory will boost up throughout the forecast amount.
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Ankur Gupta, Head Marketing & Communications