Smart Factory Market Growing at 10.4% CAGR (Value) to 2022

The smart factory market size, in terms of value, is expected reach USD 74.80 billion by 2020, at a CAGR of 10.4% between 2016 and 2022. This market is driven by factors such as wide adoption of IOT and technological advancements in M2M communication in the industrial sector, along with the increasing focus on saving energy & improving process efficiency. Integration of engineering and manufacturing by the adoption of IoT and advancements in M2M communication technology in the industrial sector are driving the growth of the smart factory market. Complete report on smart factory market spread across 202 pages, profiling 14 companies and supported with 72 tables and 101 figures is now available at .

The smart factory market for the process industry is expected to gain the maximum traction during the forecast period. The discrete industry is expected to hold the largest share of the overall smart factory market during the forecast period. The smart factory market for the process industry market is expected to gain the maximum traction and grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing use of smart factory solutions in various verticals to minimize losses that occur due to the ineffective management of materials.

The smart factory market for the pharmaceuticals industry, which is a sub segment of the process industry, is expected to grow at the highest CAGR during the forecast period. In this industry, automation process is mostly used not only to reduce labor costs but also to improve experimental accuracy and workflow efficiency. The automotive industry held the largest share of the smart factory market for the discrete industry in 2015 and is expected to dominate the market till 2022.     

The key players in the smart factory market profiled in this report are FANUC Corporation (Oshinomura, Japan), Siemens AG (Munich, Germany), ABB Ltd. (Zurich, Switzerland), Honeywell International, Inc. (New Jersey, U.S.), Yokogawa Electric Corp. (Tokyo, Japan), Schneider Electric (Rueil-Malmaison, France), Atos SE (France), Emerson Electric (U.S.), Freescale Semiconductor, Ltd. (Texas, U.S.), General Electric (U.S.), Johnson Controls, Inc. (Wisconsin, U.S.), Robert Bosch GMB (Stuttgart, Germany), Rockwell Automation, Inc. (Wisconsin, U.S.) and KUKA Aktiengesellschaft (Germany). Priced at $5650 for a single user PDF, Inquire Before Buying on “Smart Factory Market by Technology (PLM, MES, PLC, SCADA, ERP, DCS, HMI), Component (Sensors & Actuators, Communication Technologies, Industrial Robotics, Machine Vision), Industry (Process, Discrete), and Geography - Global Forecast to 2022” research report can be requested at .

On a related note, another research titled Industrial Control and Factory Automation Market Global Forecast to 2020 says, the industrial control and factory automation market is expected to grow from USD 135.38 billion in 2014 to USD 202.42 billion by 2020 at a CAGR of 6.73% during the forecast period (2015-2020). The market in APAC is expected to grow at the highest rate during the forecast period. Companies like Siemens AG (Germany), ABB Ltd. (Switzerland), Rockwell Automation (U.S.), Schneider Electric (France), Emerson Electric Corporation (U.S.), Mitsubishi Electric (Japan), Yokogawa (Japan), General Electric (U.S.), and Johnson Controls (U.S.) have been profiled in this 200 pages research report available at .

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