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Smart Factory Market

The smart factory market is projected to witness significant growth, owing to the advent of smart technologies. The adoption of smart technologies decreases the need for human labor across all major industries, such as energy, mining, manufacturing, and petrochemicals.

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#SmartFactoryMarketResearchReport Smart Factory Market The smart factory market is projected to witness significant growth, owing to the advent of smart technologies. The adoption of smart technologies decreases the need for human labor across all major industries, such as energy, mining, manufacturing, and petrochemicals. For additional insights, click to access: https://dailygram.com/index.php/blog/1111436/smart-factory-market-research-report/
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Smart Factory Market Research Report
Smart Factory MarketGMI Research forecasts the Smart Factory Market to reach a value of USD 150 billion by 2027, growing at a CAGR of 11.4% over the forecast period. The market is driven by the increasing demand for advanced technologies such as IoT in an industrial environment, increasing emphasis on resource optimization, cost reduction, and energy efficiency.Request a Free sample of Smart Factory MarketSmart Factory Market Dynamics The smart factory market is projected to witness significant growth, owing to the advent of smart technologies. The adoption of smart technologies decreases the need for human labor across all major industries, such as energy, mining, manufacturing, and petrochemicals. Further, rapid digitalization across industries and the growing need for industrial automation are other prominent factors stimulating market growth. Smart factory helps in effortless supervision, reduces factory waste, and improves production speed.Also, the technological improvements in sensing components such as sensors within the industrial set-up because of the lower energy consumption and incorporated computing abilities are anticipated to drive the market growth. Smart factory boosts productivity and reduces functional cost as compared to conventional systems.However, the outbreak of the coronavirus has negatively influenced the smart factory market because of the disruption in the supply chain, insufficient availability of raw materials, and scarcity of labor. These disruptions decreased the shipments of components and thereby reduced the revenue.Technology Segment AnalysisThe Manufacturing Execution System (MES) segment is likely to expand at a higher compound annual growth rate during the forecast period. MES provides a cost-efficient solution for various processes and industrial sectors.Industry Segment AnalysisThe medical devices discrete industry segment is projected to register a higher CAGR over the forecast period. The ongoing innovations and technological developments have driven the market growth. In the medical devices sector, smart factory solutions help enhance the production process, technological enhancement, and remote support. Also, it helps in decreasing the production cost by automating the production process will further augment the smart factor market size.Regional DriversThe Asia-pacific smart factory is anticipated to hold a larger share during the forecast period, driven by the growing adoption of automation technologies across industries such as food and beverages, manufacturing, and automotive. The ongoing technological advancements and the presence of various automotive manufacturing plants will drive market growth.The North American region will expand at a robust rate over the forecast period. The accelerating penetration of smart manufacturing & supply chain technologies across retail, food & beverages, oil & gas, metal & mining, healthcare, and manufacturing will fuel the global smart factor market share.Smart Factory Market Segmentation:Smart Factory Market by Component            SensorsIndustrial RobotsTraditional Industrial RobotsArticulated RobotsCartesian RobotsSelective Compliance Assembly Robot Arm (SCARA)Cylindrical RobotsOther RobotsCollaborative RobotsIndustrial 3D PrintingMachine VisionCameraDigital CameraSmart CameraFrame Grabbers, Optics, and Led LightingProcessor and SoftwareSmart Factory Market by TechnologyProduct Life Cycle Management (PLM)Manufacturing Execution System (MES)Programmable Logic Controller (PLC)Supervisory Control and Data Acquisition (SCADA)Enterprise Resource Planning (ERP)Distributed Control System (DCS)Human–Machine Interface (HMI)Plant Asset Management (PAM)Smart Factory Market by IndustryProcess IndustryOil and GasChemicalsPulp and PaperPharmaceuticalsMetals and MiningFood and BeveragesEnergy and PowerOthersDiscrete IndustryAutomotiveAerospace and DefenseSemiconductor and ElectronicsMachine ManufacturingMedical DevicesOthersSmart Factory Market by Region:Asia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: enquiry@gmiresearch.comPhone: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: www.gmiresearch.com
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