Inquire Before Buying
Speak to an Analyst 
Request Brochure 
Request CustomizationIMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.
Read More
Smart Factory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A4406
Buy Now
Market Overview:
The global smart factory market size reached US$ 173.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 317.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.13% during 2023-2028.
A smart factory is a highly digitalized and networked facility that operates through cyber-physical systems to move materials effectively. It is integrated with computer codes and pre-programmed software to track the material flow and optimize production processes. Smart factories are hyperflexible, self-adapting and equipped with cognitive and self-healing capabilities. They include advanced solutions, such as machine vision systems, industrial robotics, supervisory control and data acquisition (SCADA), programmable logic controller (PLC) and human-machine interface (HMI) systems. They require minimal human interaction and are commonly used for manufacturing, planning, supply chain management, logistics and product development. As a result, smart factory finds extensive applications across various industries, including oil and gas, chemical, pharmaceutical, automotive, aerospace and food and beverage.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
To get more information about this market, Request Sample
Smart Factory Market Trends:
Rapid digitization across industries, along with the increasing requirement for industrial automation, is one of the key factors creating a positive outlook for the market growth. Moreover, the widespread adoption of manufacturing execution systems (MES) and advanced data models for process-specific functioning is providing a thrust to the market growth. In line with this, the increasing adoption of refurbished industrial robots and radio frequency identification (RFID) systems is also contributing to the growth of the market. Various technological advancements, such as the integration of connected devices with cloud computing, artificial intelligence (AI) and the Internet of Things (IoT), are acting as other growth-inducing factors. These innovative technologies aid in performing electronic and mechanical assembly, product testing and automated material handling. Smart factories also utilize force sensors to verify component insertion, maintain constant force during buffing, polishing and deburring and collect data for statistical process control (SPC) systems. Other factors, including the advent of the Industrial Internet of Things (IIoT), along with the increasing adoption of smart factory solutions for the manufacturing of intricate automotive and medical components, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart factory market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on field devices, technology and end use industry.
Breakup by Field Devices:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
To get more information about this market, Request Sample
- Industrial Sensors
- Industrial Robots
- Industrial Network
- Industrial 3D Printers
- Machine Vision Systems
Breakup by Technology:
- Product Lifecycle Management (PLM)
- Human Machine Interface (HMI)
- Enterprise Resource Planning (ERP)
- Manufacturing Execution Systems (MES)
- Distributed Control Systems (DCS)
- Industrial Control System
- Others
Breakup by End Use Industry:
- Pharmaceuticals
- Food and Beverages
- Chemical
- Oil and Gas
- Automotive and Transportation
- Semiconductor and Electronics
- Aerospace and Defense
- Others
Breakup by Region:
To get more information on the regional analysis of this market, Request Sample
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Dassault Systèmes, Emerson Electric Co., General Electric Company, Honeywell International Inc., Johnson Controls International, Microsoft Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Schneider Electric SE and Siemens AG.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Field Devices, Technology, End Use Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | ABB Ltd, Dassault Systèmes, Emerson Electric Co., General Electric Company, Honeywell International Inc., Johnson Controls International, Microsoft Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Schneider Electric SE and Siemens AG |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report
The global smart factory market was valued at US$ 173.2 Billion in 2022.
We expect the global smart factory market to exhibit a CAGR of 11.13% during 2023-2028.
The rising integration of smart factory with cloud computing, Artificial Intelligence (AI), and the Internet of Things (IoT), as it aids in performing electronic and mechanical assembly, product testing, automated material handling, etc., is primarily driving the global smart factory market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of smart factory facility across various end-use industries, as it requires minimal human interaction, which in turn, allows to combat the transmission of the coronavirus infection.
Based on the field devices, the global smart factory market can be categorized into industrial sensors, industrial robots, industrial network, industrial 3D printers, and machine vision systems. Currently, industrial robots account for the majority of the global market share.
Based on the technology, the global smart factory market has been segregated into Product Lifecycle Management (PLM), Human Machine Interface (HMI), Enterprise Resource Planning (ERP), Manufacturing Execution Systems (MES), Distributed Control Systems (DCS), industrial control system, and others. Among these, Manufacturing Execution Systems (MES) currently exhibit a clear dominance in the market.
Based on the end use industry, the global smart factory market can be bifurcated into pharmaceuticals, food and beverages, chemical, oil and gas, automotive and transportation, semiconductor and electronics, aerospace and defense, and others. Currently, the automotive and transportation industry holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global smart factory market include ABB Ltd, Dassault Systèmes, Emerson Electric Co., General Electric Company, Honeywell International Inc., Johnson Controls International, Microsoft Corporation, Mitsubishi Electric Corporation, Robert Bosch GmbH, Schneider Electric SE, and Siemens AG.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
Select License Type
Benefits of Customization
Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization
Get in Touch With Us
UNITED STATES
Phone: +1-631-791-1145
INDIA
Phone: +91-120-433-0800
UNITED KINGDOM
Phone: +44-753-713-2163
Email: sales@imarcgroup.com
Client Testimonials
The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required
Read More
We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra
Read More
Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.
Read More.webp)
We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.
Read More
The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.
Read More
The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.
Read More
My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.
Read More
I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.
Read More.webp){kind=logo}
We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.
Read More
IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.
Read More