The smart factory represents the technological and manufacturing development and is combination of high-tech tools and high-tech workers. Smart factory can be defined as a combination of production, information, and communication technologies, having the ability for integration across the entire manufacturing supply chain. The growing demand for sustainable and service-oriented business practices the smart factory is designed. It depends upon flexibility, adaptability, fault tolerance, and risk management.
Smart Factory Market consists of different technologies such Enterprise resource planning (ERP), Supervisory control and data acquisition (SCADA), Programmable Automation Controller (PAC), Programmable Logic Controller (PLC), Distributed Control System (DCS) and Human Machine Interface (HMI). Enterprise resource planning (ERP) is the real time management of business processes facilitated by software. Supervisory control and data acquisition is a controlled system architecture which uses computers, graphical user interfaces and network data communications for high-level processes. Human Machine Interface includes the electronics required to signal and control the state of Smart Factory equipment.
Global Smart Factory Market is expected to grow at USD 73 Billion by 2022, at 9% of CAGR between 2018 and 2022.
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The prominent players in the Smart Factory Market are - Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Honeywell International, Inc. (U.S.), Cognex Corporation, Oracle Corporation (U.S.), IBM Corporation (U.S.), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan) among others.
The regional analysis of Smart Factory market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. Asia-pacific region has shown a considerable growth in smart factory due to technological improvements in the automotive manufacturing sector. The study indicates that countries like Japan, China, South Korea and many others have shown substantial progress in industrial robotics leading to an increase in smart factory market. United States, Germany, France and others are also showing rapid progress in the smart factory market.
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Smart Factory by Components:
Industrial robotics (Articulated, Cylindrical, Scara & Cartesian robot)
Sensors and actuators
Smart Factory by Technology:
Enterprise resource planning (ERP)
Supervisory control and data acquisition (SCADA)
Programmable Automation Controller (PAC)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Human Machine Interface (HMI)
Smart Factory by End-user:
Oil & gas
Aerospace & defense
Electrical & electronics
Automotive & transportation
Mining & metals
Food & beverages
Electric power generation
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