Global Smart Factory Market 2018-2023: Analysis by Product, Technology, and Geography - A $358 Billion Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 9, 2018--The “Global Smart Factory Market - Segmented by Product (Machine Vision System, Industrial Robotics, Control Devices), Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global smart factory market was valued at USD 211.74 billion in 2017. This market is expected to reach USD 358.01 billion by 2023, at a CAGR of 9.17% during the forecast period (2018-2023).
Industry Digitization and End-to-End Supply Chain Visibility to Drive the Market Growth
IT & telecom and finance sectors have been the pioneers in adopting digitization in North America. However, manufacturing and processing industries have realized the potential of advanced technologies and deploying connected and smart systems.
Digitization in the industries allows end-to-end visibility of industrial supply chain. Smart factory technologies constantly collect data from different equipment for performance monitoring. Smart factory systems, thus, allow easy data access of production volumes and operational data. This also enables companies to deploy advance data analysis tools to analyze and identify the flaws in the operation and rectify them to improve the overall efficiency.
Key HighlightsAutomotive to Dominate the Market by End User US Dominates the Smart Factory Market in North America
Recent DevelopmentsNovember 2017: Yokogawa Electric Corporation announced Synaptic Business Automation, a new industrial automation and control business concept that expresses the company’s commitment to working with its customers to sustain its creation of corporate value. August 2017: Honeywell acquired Nextnine Ltd, a global provider of industrial cybersecurity solutions. The business will be integrated into Honeywell’s Industrial Cybersecurity group and will significantly strengthen Honeywell’s capability to offer multi-vendor, multi-site secure remote access, monitoring and support to protect industrial control systems and critical infrastructure against a growing threat of cyber-attacks.
Companies FeaturedABB Group Cognex Corporation Siemens AG Schneider Electric SE Yokogawa Electric Corporation Swisslog Holding AG Rockwell Automation Inc. Honeywell International Inc. Robert Bosch GmbH Atos SE Johnson Controls Inc. Emerson Electric Company
Key Topics Covered
2. Research Methodology
3. Market Insights
4. Market Dynamics
5. Market Segmentation
6. Competitive Intelligence - Key Vendor Profiles
7. Investment Analysis
8. Future of the Smart Factory Market
For more information about this report visit https://www.researchandmarkets.com/research/nnwpjc/global_smart?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180809005306/en/
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Related Topics:Industrial Automation ,Industrial Machinery
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
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PUB: 08/09/2018 06:20 AM/DISC: 08/09/2018 06:20 AM