Smart Factory industry

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Smart Factory industry Research Report By
Forecast 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Smart Factory industry Forecast To 2023
Smart Factory industry Forecast To 2023
The smart factory is defined as a combination of
high-tech tools and high-tech workers that
represents the technological and manufacturing
development. Market Research Future (MRFR) has
published a report about the global Smart Factory
industry that foretells boost for this market at
9 CAGR (Compound Annual Growth Rate) between
2016 and 2022. Regarding value, the market is
expected to be worth the US 73 bn by the end of
the forecast period. Observing the market
structure, this report offers insights about
factors affecting the market growth. Measuring
the market size and foretelling the revenue, this
reports examines and monitors the competitive
developments of market players that include joint
ventures, new product developments, mergers and
acquisitions, research and developments (RD),
and strategic alliances
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Smart Factory industry Forecast To 2023
Taste the market data and market information
presented through more than 50 market data tables
and figures spread in 100 numbers of pages of the
project report. Avail the in-depth table of
content TOC market synopsis on Internet of
Smart Factory industry Forecast To 2023

• The primal factor that backs the global Smart
  Factory industry growth is growing demand for
  sustainable and service-oriented business
  practices the smart factory is designed. Smart
  factory depends upon adaptability, fault
  tolerance, flexibility, and risk management.
  Other factors on which the market growth abuts on
  are developments in the internet of things (IoT),
  industry players emphasizing on improving the
  efficiency of the manufacturing process, focus on
  power consumption, usage of robots, and lastly,
  increased investments in big data analytics,
  cloud technologies IoT by corporate
  organizations. However, the shortage of skilled
  and trained workers can be a threat to the market
  growth.

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Smart Factory industry Forecast To 2023
Global Smart Factory industry Segmented on the
basis of
The global market for smart factories is
segmented on the basis of component,
connectivity, services, and industry
verticals. Based on the components, the market
has been bifurcated into hardware and software.
The hardware segment includes control devices,
industrial robots, sensors, machine vision
systems, among others. Moreover, the segment is
expected to acquire the fastest CAGR of 13.6
over the review period. Software segment
comprises Distributed Control System (DCS),
Enterprise Resource Planning (ERP), Supervisory
Control and Data Acquisition (SCADA),Programmable
Logic Controller (PLC), Programmable Automation
Controller (PAC), and others.
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Smart Factory industry Forecast To 2023
Global Smart Factory industry - Geographical
Analysis
On the basis of region, the global Smart Factory
industry has been segmented into Asia Pacific,
North America, Europe, and the rest of the world.
The North American region is the largest
regional market for smart factories and is
estimated to lead the market share over the
assessment period. This is attributed to the
presence of multinational organizations with
extensive investments in research and development
activities for industrial automation and other
advanced technologies such as Industrial Internet
of Things (IIoT) and cloud technology. The
presence of significant market players, along
with established industries, is also expected to
contribute towards the market share.
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Smart Factory industry Forecast To 2023
Global Smart Factory industry - Competitive
Analysis

• The major market players identified by MRFR in
  the global Smart Factory industry include Siemens
  AG, General Electric Company (GE), ABB Ltd,
  Rockwell Automation, Schneider Electric,
  Honeywell International Inc., FANUC Corporation,
  Mitsubishi Electric Corporation, Emerson Electric
  Co., Johnson Controls International PLC, Yokogawa
  Electric Corporation, Atos SE, Robert Bosch GmbH,
  Cognex Corporation and Ubisense.
• Industry News
• September 2019 NTT DOCOMO, a leading Japan-based
  mobile operator, announced that it became a
  member of the 5G Alliance for Connected
  Industries and Automation (5G-ACIA), aiming to
  expand the usage of 5G technology in the
  manufacturing sector.

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