Growth in Advancements in Sensor Technology Expected to Drive North America Smart Factory Market: Ken Research

Posted May 25, 2021 by Anita1111

North America smart factory market is expected to grow by 8.0% annually in the forecast period and reach USD 94.36 billion by 2026 with consideration of the COVID-19 impact.
Smart factory is an advanced factory that has different cyber-physical frameworks where materials can be moved proficiently across the factory floor. It has integrated computing codes that provides a number of automation solution. Smart factory provides different data models and factory- specific & manufacturing execution systems (MES) templates for rapid use. It boosts productivity along with cutting down the operational costs in comparison with traditional production systems.
As per analysis, “North America 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” some of the key manufacturers operating in the North America smart factory market include Fanuc Corp., Adept Technology Inc., Danaher Corporation, FLIR Systems Inc., Honeywell International Inc., Genmark Automation, Inc., Bharat Heavy Electrical Ltd, ABB Ltd., ATOS SE, Cisco Systems, Inc., Daihen Corp., Comau S.p.A, Ellison Technologies Inc., Cognex Corporation, Emerson Electric Co., Fanuc Corp., Hitachi, Ltd., General Electric Co., Epson Robotics, Mitsubishi Electric Corp., Kawasaki Robotics Inc., NovaTech Process Solutions LLC, Nachi Fujikoshi Corp., Metso Corporation, Konux Inc., Johnson Controls Inc, Kuka Aktiengesellschaft, Nextnine Ltd, Panasonic Corporation (Activelink), Omron Corporation, Rethink Robotics, Inc., Oracle Corporation, Pari Robotics, Staubli International AG, Samsung Electronics, Rethink Robotics, Inc., Rockwell Automation Inc., Schneider Electric SE, Robert Bosch GmbH, Toshiba Machine Co., Ltd., Yamaha Robotics, Yokogawa Electric Corporation, Universal Robots, Siemens AG, Yaskawa Electric Corp., Wipro Limited, Schneider Electric SE, Yokogawa Electric Corporation and among others.
On the basis of component, North America smart factory market is bifurcated into software, hardware and services. On the basis of product, market is bifurcated into sensors, industrial 3D printing, industrial robots, machine vision, control devices and industrial network. Industrial robots are further sub-segmented as cylindrical robots, collaborative robots, SCARA robots, delta/parallel robots and other industrial robots. Machine vision is further sub-segmented as cameras, enclosures, processors, frame grabbers, lighting, integration services, and other machine vision systems. Control devices segment is further sub-segmented as relays & switches and servo motors & drives. Additionally, industrial network is further sub-segmented a wired network, wireless network and RFIS system. On the basis of technology, market is bifurcated as Supervisory Control and Data Acquisition (SCADA), Product Life Cycle Management (PLM), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Plant Asset Management (PAM), Human-Machine Interface (HMI), Distributed Control System (DCS), Enterprise Resource Planning (ERP) and other technologies. In addition, on the basis of end-user, market is bifurcated as metals & mining, chemical & petrochemical, oil & gas, aerospace & defense, food & beverage, automotive, pharmaceutical, semiconductor & electronics and other end-users.
The North America smart factory market is driven by growth in advancements in sensor technology, followed by rise in adoption of robots in industries, increase in emphasis on real-time data analysis and growth in need for improving efficiency and energy saving in the manufacturing process. However, requirement of a significant amount of capital investments and risk associated with security of cyber-physical system may impact the market. Moreover, growth in advancements in 3D printing technology is a key opportunity for market. Furthermore, lack of awareness in small & medium-sized businesses is a major challenge for market.
By regional analysis, the North-America region is bifurcated as Mexico, Canada and U.S. It is projected that future of the North America smart factory market will be bright as a result of rise in adoption in the automotive segment during the forecast period.

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Issued By Ken Research
Country India
Categories Construction , Manufacturing
Tags north america smart factory market , north america smart factory market forecast , north america smart factory market revenue
Last Updated May 25, 2021