Global Smart Factory Market Analysis Report 2022-2026: Digital Twin

Dublin, October 21, 2022 /PRNewswire/ — “Smart Factory – Global Market Trajectory and Analysis” Report Added of ResearchAndMarkets.com Recruitment.

Global smart factory market to reach $214.2 billion by 2026

The global market for smart factories is US$152.2 billion In 2022 it is projected to reach its corrected size US$214.2 billion By 2026, it will grow at a CAGR of 7.4% during the analysis period.

“Smart factory” or “smart manufacturing” or “factory of the future” is a concept that envisions creating an intelligent factory that links disparate traditional manufacturing processes to generate intelligent data.

Global market growth is expected to be driven by increased investment in automation systems and advances in manufacturing technologies to achieve mass production and increase overall efficiency and productivity. Companies in the industrial sector are implementing industrial robots, the Internet of Things (IoT), and connected devices for improved visibility, real-time data analytics, and predictive maintenance.

Moreover, increasing demand for automated manufacturing platforms in industries such as manufacturing, automotive, chemical, and medical devices is expected to boost the market outlook. The COVID-19 pandemic has made it imperative for manufacturing plants to keep their workers safe while maintaining operations. The crisis has accelerated the adoption of vision-guided robots to reduce the risk of infection among workers. This scenario is expected to push various factories to implement automated solutions and robotics to protect their workers from the risk of infection.

Control equipment and software, one of the segments analyzed in the report, is projected to register a CAGR of 7.5% and reach $99.5 billion By the end of the analysis period. After thoroughly analyzing the business impact of the pandemic and the economic crisis caused by it, the reporting & analysis software segment growth recalibrates to a revised CAGR of 8.7% over the next seven years .

Market trends and drivers

• The Key Role of Smart Factory Solutions in the Evolution of the Digitalized Intelligent Factory of the Future
• Intelligent, digitalized and automated smart factories transforming manufacturing
• Digital factory technology for better manufacturing cell design and robotic automation
• Intelligent factories offer new business opportunities for manufacturers
• Intelligent Factories Will Positively Affect Workforce Shifts
• Industrial IoT enables the transition to intelligent factories
• Experimenting with IoT implementations by discrete manufacturers
• The IoT set that will revolutionize your supply chain
• IoT-based Digital Initiatives Critical to Successful Manufacturer Transition to Industry 4.0
• Focus on Gaining a Competitive Edge Drives IIoT Adoption
• Machine Monitoring: The Most Popular Way to Implement IIoT in Machine Shops
• Real-Time Simulation: A Promising Technology to Connect People, Machines, and Products in Smart Manufacturing
• M2M Communication: Essential for seamless connectivity between multiple IoT devices
• The Need to Upgrade Existing Factories Offers Huge Untapped Market Growth Potential
• Aging workforce and shortage of skilled workers exacerbate woes in old factories
• Digital Talent: The Need for Digital Transformation of Industrial Processes
• Promise of smart factories to ensure supply chain resilience expands business case
• AI for the “smart” elements in future manufacturing facilities
• Steady Adoption of Sophisticated Connectivity Solutions Will Drive Market Growth
• Mobile technology enables real-time data capture and access to create a connected production environment
• Increased use of mobile devices and mobile apps in manufacturing environments
• Overhauling Existing Network Technologies: Essential for Industry 4.0
• 5G: Network technology with huge potential to drive Industry 4.0 adoption
• Big Data and Cloud Computing: New ICT Frontiers for Industry 4.0 Implementation
• Analytics: Essential to understanding the data deluge resulting from the move to smart manufacturing
• Using data for enhanced decision-making
• Smart Manufacturing: A Key Application Area of ​​the Big Data-Enabled Market
• Manufacturing as a Service: The Right Answer to the Growing Need for Mass Customization
• Increased need to integrate physics, networks, and computational processes drives demand for cyber-physical systems
• Machine Tools: A Promising Cyber-Physical System
• Decentralized Model and Blockchain Power Continuous, Rapid Manufacturing
• Augmented reality: facilitating Industry 4.0 in a fast, interactive and reliable way
• Industry 4.0 Creates Need for Mobile AR in Manufacturing
• Enterprise Mobility, BYOD, and CYOD Drive Adoption of Mobile AR and Smart Wearables in Production Plants
• Significantly reduce personnel overhead with first-person view (FPV) communication
• Inspection, maintenance, and repair of machines on the shop floor: the ‘hands-free view’ attribute of smart AR glasses
• Importance of Automated Material Handling in Industry 4.0 Drives Market Demand
• Autonomous Vehicles: The Future of Material Handling Automation
• Self-driving cars transforming the logistics market
• Advanced robotics impacts automated material handling equipment
• MES/MOM Systems: Competing or Complementary Technologies for Smart Manufacturing?
• Manufacturing Execution System (MES): The Critical Cog in Digital Manufacturing
• Supervisory Control and Data Acquisition (SCADA): The Backbone of Smart Manufacturing
• The complexity of modern industrial processes provides the business case for SCADA
• Smart & Intelligent Sensors: The Building Blocks of Smart Factories
• Sensor manufacturer ramps up capabilities to meet demand for manufacturer turnkey solutions
• The myriad benefits of robots in a variety of processes and applications to enable the 4th Industrial Revolution
• Rising Robot Installations Across Developed Countries Boost Market Outlook
• Advances in automation are rapidly changing the landscape of the manufacturing sector
• 3D printing bodes well for the market as it revolutionizes manufacturing by increasing productivity and competitiveness
• How 3D printing beats commercial production
• Additive Manufacturing (AM): Application Timeline
• loss of employment opportunities
• Solutions that solve technical issues for smart factories
• End-Use Application Sector: Trends and Drivers
• Leading the Era of Smart Auto Factory
• Automotive OEMs Spearhead Smart Factory Initiatives
• Automotive Industry: Adopting Pioneering Smart Factory Solutions
• Automotive production moves towards energy efficiency through Industry 4.0 solutions
• Expected recovery in demand continues to shape market interest in oil and gas sector
• Industry 4.0 presents attractive opportunities for the industrial equipment sector
• Relevance in aerospace and defense applications
• The adoption of Industry 4.0 is inevitable for food and beverage manufacturers to become more efficient.
• Brewing Industry: Another Key Industry Embracing Industry 4.0
• Digitization of the brewing industry
• innovation and progress
• Autonomous Robots: Powering the Factory of the Future
• Collaborative robots working hand in hand with humans in smart factories
• Digital Twin: Next Generation Manufacturing Software for Industry 4.0
• Edge Computing Seeks a Role in Smart Factories
• Exosuits: Safety Standards for Workers in Hazardous Factory Jobs
• Siemens Fully Integrated Automation (TIA) & Digital Enterprise Platform
• GE’s Revolutionary Real-Time Operational Intelligence
• FlexSim simulation technology
• genua’s cyber diodes improve IT security in smart factory environments
• Baxter Robot: Worker’s Friend
• HARTING Integrated Industrial Solutions
• SmartFactoryOWL: An Integrated System for Tailored Assembly Operations
• Asseco’s APplus ERP II solution for SMEs
• BOGE airstatus remote diagnostic tool
• Huawei Smart and Connected Industrial Network Solutions
• Flexible Conveyor Matrix Enables Networked Cognitive Production
• M&M Cloud-Based Service Platform Helps Continuous Condition Monitoring
• ORBIS MPS for process transparency in the area of ​​production and intralogistics
• Programmable Automation Controller (PAC): combination of PLC functionality and real-time motion control
• Schaeffler develops new torque sensor technology
• SICK IO-Link sensors offer even better functionality for packaging machines
• Trebing + Himstedt develop a self-organizing capacity management system
• Openmatics develops ZF Logistics Tag based on BLE technology
• Notable AR Innovations in Digital Manufacturing
• Remarkable Adoption and Implementation
• Audi smart factory
• Nokia Digital Factory Leverages 5G and Cobots for Full Automation
• Foxconn uses CNC machines
• BMW Group introduces Industry 4.0
• Internet-enabled refrigerator with FirstBuild 3D-printed accessories
• Weidmuller chooses smart technology to adjust to production fluctuations
• ARBURG adopts Industry 4.0 for the production of individualized products
• Bosch Rexroth adopts Industrie 4.0 concept
• ebm-papst benefits from the digitalization of production processes
• Siemens and Festo collaborate on innovative multi-carrier system
• KUKA robots provide flexibility for Siemens Lead Factory for electric motors
• SIGMA AIR MANAGER 2 MASTER CONTROLLER ENABLES INTELLIGENT USE OF COMPRESSED AIR
• KSB’s Digital Pump Solution: Improving Production Capabilities and Service
• Schwering & Hasse uses proALPHA software for automated analysis of production data
• Eickhoff Wind Power implements PROXIA software for seamless production monitoring
• Other Notable Smart Factory/Industry 4.0 Adoption and Implementation
• Overview of Technology Adoption by 20 Global Companies Enabling Industry 4.0: Company Names, Enabling Technologies, Industry 4.0 Initiatives

Focus on selected players (total 209 features):

• ABB Co., Ltd.
• Accenture
• Athos SE
• ATS International BV
• Autodesk, Inc.
• Bosch.IO GmbH
• Senit AG
• Cisco Systems, Inc.
• Dassault Systèmes
• emerson electric company
• FANUC CORPORATION
• Fraunhofer IAO
• general electric company
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Infosys, Inc.
• Intel Corporation
• Johnson Controls International Plc
• Keyence Corporation
• KUKA AG
• microsoft
• Mitsubishi Electric Corporation
• OMRON Corporation Industrial Automation Company
• Oracle Corporation
• PTC Corporation
• Rockwell Automation Company
• SAP SE
• Schneider Electric SE
• Siemens AG
• Siemens EDA
• Telefonaktiebolaget LM Ericsson
• Wipro Limited
• WITTENSTEIN SE
• Yaskawa Electric Corporation
• Yasukawa Motoman
• Yokogawa Electric Corporation

For more information on this report, please visit https://www.researchandmarkets.com/r/ct2gqj.

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