The smart factory denotes the manufacturing and technological improvement, perfect integration of high-tech machinery, and high-tech tools. It is the improved factory system, which generates cyber-physical systems enabling the effective movement of materials around the factory floor. It suggests real-time quality and time advantages, which are projected to accentuate the industry growth over the review duration. Additionally, it delivers the higher intelligence, serves to decentralize manufacturing, and creates an entire cognitive and self-healing system.
According to the report analysis, ‘Asia Pacific Smart Factory Market 2020-2026 by Component, Product (Industrial 3D Printing, Sensors, Machine Vision, Industrial Robots, Industrial Network, Control Devices), Technology, End User, and Country: Trend Forecast and Growth Opportunity’ states that ABB Ltd., Adept Technology Inc., ATOS SE, Bharat Heavy Electrical Ltd, Cisco Systems, Inc., Cognex Corporation, Comau S.p.A, Daihen Corp., 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., Kuka Aktiengesellschaft, Metso Corporation, Mitsubishi Electric Corp., Nachi Fujikoshi Corp., Nextnine Ltd, NovaTech Process Solutions LLC, Omron Corporation, Oracle Corporation, Panasonic Corporation (Activelink), Pari Robotics, Rethink Robotics, Inc., Robert Bosch GmbH, Rockwell Automation Inc., Samsung Electronics, Schneider Electric SE, Siemens AG, Staubli International AG, Toshiba Machine Co., Ltd., Universal Robots, Wipro Limited, Yamaha Robotics, Yaskawa Electric Corp., and Yokogawa Electric Corporation are the foremost corporate which presently functioning more effectively around the smart factory market for leading the highest market growth and dominating the great value of market share during the short span of time while decreasing the linked prices, employing the young work force, establishing the several research and development programs, improving the applications and specifications of such, analysing the strategies and policies of the government as well as corporate, opting the strategies and policies of the enlargements as well as profit making, delivering the better consumer satisfaction, and spreading the awareness connected to such.
In addition, the aspects that are propelling the growth of the Smart Factory market are the growing practice for advanced base for producing, augmented aim on energy consumption and developed efficiency of manufacturing. However, the aspects that are limiting the growth of the market are shortage of interoperability & standardization and the shortage of trained workers. The efficient growth in industry of refurbished robots and untapped field such as industrial robots and RFID are projected to generate lot of opportunities for the growth of the smart factory market.
Geographically, the Asia Pacific is projected to hold dominant share in the worldwide smart factory market. Existence of dominant players such as Yokogawa, Mitsubishi Electric, Omron, and Fanuc led dominance of Asia Pacific region in this market. In addition, growing use of automotive technologies and technological advancements in several industrious industries also propelled growth in this market.
Among the various developing regions in Asia Pacific, China has been utilizing the advanced industrial practices by accepting the automation technologies in manufacturing sector. Information integration and intellectualization are the central aim of the government policies, which also underwritten in the growth of the Asia Pacific smart factory market. Moreover, several research institutions and organizations are functioning together to advance the manufacturing processes in China. Japan is also playing a proficient role in boosting growth in this market. Prominent three corporate namely Honda, Suzuki, and Toyota are functioning towards creating smart factories by developing producing sensors, robots, machine vision systems, and wireless technologies. Such initiatives will also outgrowth growth in this market.
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Ankur Gupta, Head Marketing & Communications