Smart Factory Market Growing at 10.4% CAGR to 2020: Discrete Industry Holds Largest Share

Mar 07, 2016, 05:00 ET from ReportsnReports

PUNE, India, March 7, 2016 /PRNewswire/ --

The smart factory market size, driven by factors such as wide adoption of IOT and technological advancements in M2M communication in the industrial sector, is expected to reach USD 74.80 billion by 2020 in terms of value. Increasing focus on saving energy & improving process efficiency are also adding to the growth factors.

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 http://www.reportsnreports.com/reports/267692-smart-factory-market-by-technology-scada-dcs-plc-erp-mes-plm-mom-field-devices-industrial-network-robotics-rfid-and-motors-drives-relays-switches-sensors-application-process-discrete-global-forecast-analysis-2013-2018-.html .

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 changing market dynamics has urged the need for smart manufacturing techniques as the real manufacturing world has begun converging with the digital manufacturing. With the increasing demand for smart factory in the process and discrete industries, the market for smart factory is expected to witness lots of growth opportunities 2022.

The key players in the smart factory market profiled in this report such as 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 GMBH (Stuttgart, Germany), Rockwell Automation, Inc. (Wisconsin, U.S.) and KUKA Aktiengesellschaft (Germany). Order a copy of  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 at http://www.reportsnreports.com/purchase.aspx?name=267692 .

This report segments the smart factory market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across various industries and regions. The report would help stakeholders to understand the pulse of the market by providing them the information on key market drivers, restraints, challenges, and opportunities. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

On a related note, another research on Smart Agriculture Market Global Forecast to 2022 says, the smart agriculture market is expected to reach USD 18.45 Billion in 2022 and to grow at a CAGR of 13.8% during the forecast period. Precision farming held the largest share of the market segmented on the basis of application in the Smart agriculture market in 2015. In this report, the geographic segmentation covers four major regions of the world, namely, North America, Europe, Asia-Pacific, and Row. Companies like Deere & Company, Trimble Navigation Ltd., Ag Junction, Raven Industries Inc. and AGCO Corporation have been profiled in this 145 pages research report at http://www.reportsnreports.com/reports/468243-smart-agriculture-market-by-hardware-and-network-platform-gps-gnss-devices-sensor-monitoring-systems-and-smart-detection-systems-network-elements-service-software-application-and-geography-global-forecast-to-2022.html .

Explore more reports on the Semiconductor and Electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .


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