Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, Manufacturing Execution System, Industrial Safety, PAM), Industry and Region - Global Forecast to 2029
The global Smart factory market is expected to grow from USD 100.6 billion in 2024 to USD 164.0 billion by 2029, registering a CAGR of 10.3%. The global smart factory market is experiencing significant growth, driven by the increasing adoption of Industry 4.0 technologies. With a focus on automation, data exchange, and real-time analytics, smart factories enhance manufacturing efficiency and flexibility. Factors such as the rising demand for intelligent manufacturing, advancements in IoT and AI, and the pursuit of operational excellence contribute to the market's expansion. The integration of smart technologies acrosss industries propels the market forward, creating new opportunities for manufacturers to optimize processes and improve overall productivity on a global scale.
“Industrial 3D Printing segment to grow at highest CAGR in smart factory market.”
The Industrial 3D printing segment is experiencing robust growth in the market. The Industrial 3D printing sector is experiencing rapid growth within the smart factory market. Its integration enhances manufacturing efficiency, reduces production costs, and allows for complex, customized designs. As smart factories continue to evolve, the adoption of Industrial 3D printing is expected to surge, driving innovation, flexibility, and scalability in modern manufacturing processes. This transformative technology is poised to revolutionize the industrial landscape by fostering agile and intelligent production ecosystems.
“Manufacturing Execution System (MES) segment accounted for the largest share of the Smart factory market in 2023.”
Manufacturing Execution System (MES) is experiencing robust growth in the smart factory market. As industries increasingly embrace Industry 4.0, MES plays a pivotal role in optimizing production processes, enhancing efficiency, and ensuring real-time data management. The demand for smart manufacturing solutions continues to rise, driving the adoption of MES to streamline operations and enable intelligent decision-making, contributing to the overall expansion of the smart factory market.
“Oil & Gas to hold largest market share in the year 2023.”
Oil and gas sector is experiencing substantial growth within the smart factory market. This expansion is propelled by the integration of advanced technologies such as automation, the Internet of Things (IoT), and data analytics. Smart factories play a pivotal role in elevating operational efficiency, optimizing production processes, and facilitating real-time monitoring in the oil and gas industry. This synergy promotes streamlined operations, predictive maintenance, and enhanced decision-making capabilities, contributing to a significant upward trend in the industry's presence within the smart factory market.
“Automotive to hold largest market share in the year 2023.”
The automotive industry's integration into the smart factory market has experienced exponential growth, leveraging advanced technologies like Industrial Internet of Things (IIoT), automation, and data analytics. Smart factories in the automotive sector optimize production processes, enhance efficiency, and ensure higher quality outputs. This synergy has led to streamlined manufacturing, reduced downtime, and increased overall productivity, marking a transformative shift towards more intelligent and connected production systems within the automotive industry.
“Asia Pacific to be the fastest growing region in the forecast period.”
Asia Pacific region has witnessed remarkable growth in smart factories, leveraging advanced technologies like IoT, AI, and robotics. Governments and industries are increasingly investing in digital transformation, enhancing manufacturing efficiency, and embracing Industry 4.0 principles. The integration of intelligent systems, data analytics, and automation has propelled the smart factory landscape, fostering innovation and competitiveness across diverse sectors. As a result, the Asia Pacific region continues to experience a significant surge in the adoption and expansion of smart manufacturing facilities, driving economic development and technological advancements.
The break-up of the profiles of primary participants:
Research Coverage:
The Smart factory market has been segmented into Component, Solution, Process Industries, Discrete Industries, and regions. The Smart factory market was studied in North America, Europe, Asia Pacific, and the Rest of the World (RoW). The report describes the major drivers, restraints, challenges, and opportunities of the Smart factory market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Smart factory ecosystem.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the Smart factory market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
“Industrial 3D Printing segment to grow at highest CAGR in smart factory market.”
The Industrial 3D printing segment is experiencing robust growth in the market. The Industrial 3D printing sector is experiencing rapid growth within the smart factory market. Its integration enhances manufacturing efficiency, reduces production costs, and allows for complex, customized designs. As smart factories continue to evolve, the adoption of Industrial 3D printing is expected to surge, driving innovation, flexibility, and scalability in modern manufacturing processes. This transformative technology is poised to revolutionize the industrial landscape by fostering agile and intelligent production ecosystems.
“Manufacturing Execution System (MES) segment accounted for the largest share of the Smart factory market in 2023.”
Manufacturing Execution System (MES) is experiencing robust growth in the smart factory market. As industries increasingly embrace Industry 4.0, MES plays a pivotal role in optimizing production processes, enhancing efficiency, and ensuring real-time data management. The demand for smart manufacturing solutions continues to rise, driving the adoption of MES to streamline operations and enable intelligent decision-making, contributing to the overall expansion of the smart factory market.
“Oil & Gas to hold largest market share in the year 2023.”
Oil and gas sector is experiencing substantial growth within the smart factory market. This expansion is propelled by the integration of advanced technologies such as automation, the Internet of Things (IoT), and data analytics. Smart factories play a pivotal role in elevating operational efficiency, optimizing production processes, and facilitating real-time monitoring in the oil and gas industry. This synergy promotes streamlined operations, predictive maintenance, and enhanced decision-making capabilities, contributing to a significant upward trend in the industry's presence within the smart factory market.
“Automotive to hold largest market share in the year 2023.”
The automotive industry's integration into the smart factory market has experienced exponential growth, leveraging advanced technologies like Industrial Internet of Things (IIoT), automation, and data analytics. Smart factories in the automotive sector optimize production processes, enhance efficiency, and ensure higher quality outputs. This synergy has led to streamlined manufacturing, reduced downtime, and increased overall productivity, marking a transformative shift towards more intelligent and connected production systems within the automotive industry.
“Asia Pacific to be the fastest growing region in the forecast period.”
Asia Pacific region has witnessed remarkable growth in smart factories, leveraging advanced technologies like IoT, AI, and robotics. Governments and industries are increasingly investing in digital transformation, enhancing manufacturing efficiency, and embracing Industry 4.0 principles. The integration of intelligent systems, data analytics, and automation has propelled the smart factory landscape, fostering innovation and competitiveness across diverse sectors. As a result, the Asia Pacific region continues to experience a significant surge in the adoption and expansion of smart manufacturing facilities, driving economic development and technological advancements.
The break-up of the profiles of primary participants:
- By Company Type – Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
- By Designation – C-level Executives – 45%, Directors – 35%, and Others – 20%
- By Region – North America - 35%, Europe – 25%, Asia Pacific – 30%, RoW- 10%
Research Coverage:
The Smart factory market has been segmented into Component, Solution, Process Industries, Discrete Industries, and regions. The Smart factory market was studied in North America, Europe, Asia Pacific, and the Rest of the World (RoW). The report describes the major drivers, restraints, challenges, and opportunities of the Smart factory market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Smart factory ecosystem.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the Smart factory market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
- Analysis of Key Drivers (Growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations, Increasing demand for industrial robots, Rising demand for technologies such as IoT and artificial intelligence in industrial environments), Restraints (Requirement of significant capital investments, Security risks associated with cyber-physical systems), Opportunities (Emergence of 5G technology in smart factories, Growing number of developments in wireless sensor networks and their adoption in smart factories), Challenges (Interoperability between information technology (IT) and operational technology (OT), Vulnerability to cyberattacks).
- Product Development/Innovation: Detailed insights on research and development activities and new product launches in the Smart factory market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the Smart factory market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Smart factory market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), General Electric (US), Rockwell Automation, Inc. (US), Honeywell International Inc. (US), Yokogawa Electric Corporation (Japan), OMRON Corporation (Japan), Endress+Hauser (Switzerland), FANUC Corporation (Japan), WIKA (Germany), Dwyer Instruments, LLC. (US), Stratasys (US), 3D Systems Corporation (US) among others in the Smart factory market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.8 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of interviews with experts
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE FROM INDUSTRIAL SENSORS MARKET
2.2.1 BOTTOM UP APPROACH
2.2.1.1 Approach to estimate market size using bottom up analysis
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM UP APPROACH
2.2.2 TOP DOWN APPROACH
2.2.2.1 Approach to estimate market size using top down analysis
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY PARAMETERS
2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION
2.6 RISK ASSESSMENT
TABLE 1 LIMITATIONS AND ASSOCIATED RISKS
3 EXECUTIVE SUMMARY
FIGURE 7 INDUSTRIAL SENSORS SEGMENT ESTIMATED TO BE LARGEST IN 2024
FIGURE 8 MES SEGMENT ESTIMATED TO DOMINATE MARKET IN 2024
FIGURE 9 OIL & GAS PROCESS INDUSTRY ESTIMATED TO LEAD IN 2024
FIGURE 10 MEDICAL DEVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2023
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART FACTORY MARKET
FIGURE 12 INCREASING USE OF AUTOMATION IN MANUFACTURING TO BOOST ADOPTION OF SMART FACTORY SOLUTIONS
4.2 SMART FACTORY MARKET, BY COMPONENT
FIGURE 13 INDUSTRIAL 3D PRINTERS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.3 SMART FACTORY MARKET, BY SOLUTION
FIGURE 14 MES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.4 SMART FACTORY MARKET, BY PROCESS INDUSTRY
FIGURE 15 OIL & GAS PROCESS INDUSTRY ESTIMATED TO BE LARGEST IN 2024
4.5 SMART FACTORY MARKET, BY DISCRETE INDUSTRY
FIGURE 16 AUTOMOTIVE DISCRETE INDUSTRY ESTIMATED TO BE LARGEST IN 2024
4.6 SMART FACTORY MARKET, BY COUNTRY
FIGURE 17 MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 SMART FACTORY MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing focus on enhancing energy efficiency, optimizing resources, and reducing costs in production operations
5.2.1.2 Increasing demand for industrial robots
FIGURE 19 HISTORICAL AND PROJECTED ANNUAL INSTALLATION OF INDUSTRIAL ROBOTS, 2012–2022
5.2.1.3 Rising demand for technologies such as IoT and artificial intelligence in industrial environments
FIGURE 20 SMART FACTORY MARKET DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 Need for significant capital investments
5.2.2.2 Security risks associated with cyber-physical systems
FIGURE 21 SMART FACTORY MARKET RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Emergence of 5G technology in smart factories
5.2.3.2 Advancements in wireless sensor networks and integration into intelligent manufacturing facilities
FIGURE 22 SMART FACTORY MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Interoperability between information technology (IT) and operational technology (OT)
5.2.4.2 Vulnerability to cyberattacks
FIGURE 23 SMART FACTORY MARKET CHALLENGES AND THEIR IMPACT
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 24 SMART FACTORY SUPPLY CHAIN ANALYSIS
5.3.1 MANUFACTURING
5.3.2 SOFTWARE DEVELOPMENT
5.3.3 PRODUCT, SOLUTION, AND SYSTEM INTEGRATION
5.3.4 DISTRIBUTORS
5.3.5 END USER INDUSTRIES
5.3.6 POST-SALES SERVICES
5.4 ECOSYSTEM ANALYSIS
FIGURE 25 ECOSYSTEM
TABLE 2 ROLE OF PLAYERS IN ECOSYSTEM
5.5 INVESTMENT AND FUNDING SCENARIO
FIGURE 26 FUNDING FOR SMART FACTORY PLAYERS (2019–2023)
5.6 PRICING ANALYSIS
5.6.1 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS
TABLE 3 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS, BY PAYLOAD CAPACITY
FIGURE 27 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT
5.6.2 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD)
TABLE 4 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD)
5.6.3 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD)
TABLE 5 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD)
5.6.4 AVERAGE SELLING PRICE TREND, BY PAYLOAD CAPACITY
FIGURE 28 INDUSTRIAL ROBOTS MARKET: AVERAGE PRICE BASED ON PAYLOAD CAPACITY
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
FIGURE 29 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 30 SMART FACTORY MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 6 IMPACT OF PORTER’S FIVE FORCES ON SMART FACTORY MARKET
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF SUPPLIERS
5.8.4 BARGAINING POWER OF BUYERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 CASE STUDY ANALYSIS
5.9.1 ELOPAK INSTALLS FULLY ASEPTIC FILLING MACHINE FOR GABLE TOP PACKAGING WITH ROBUST PNEUMATICS FROM EMERSON AVENTICS
5.9.2 MP EQUIPMENT JOINS HANDS WITH ROCKWELL AUTOMATION SAFETY CONSULTANTS TO RE-EVALUATE DESIGN OF PROTEIN PORTIONING MACHINE
5.9.3 MOLLART ENGINEERING SELECTS PROCTER SMART FACTORY’S ENCLOSED GUARDS TO INSTALL IN ITS MACHINE TOOLS
5.10 TECHNOLOGY TRENDS
5.10.1 KEY TECHNOLOGIES
5.10.1.1 Artificial Intelligence
5.10.1.2 Augmented Reality
5.10.1.3 IoT
5.10.2 COMPLEMENTARY TECHNOLOGY
5.10.2.1 5G
5.10.2.2 Digital Twin
5.10.2.3 Predictive Maintenance
5.10.3 ADJACENT TECHNOLOGY
5.10.3.1 Blockchain
5.10.3.2 Smart Energy Management
5.10.3.3 Edge Computing
5.10.3.4 Predictive Supply Chain
5.10.3.5 Cybersecurity
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 31 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS
TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS
5.11.2 BUYING CRITERIA
FIGURE 32 BUYING CRITERIA OF TOP 3 INDUSTRIES
TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES
5.12 TRADE ANALYSIS
5.12.1 IMPORT SCENARIO
FIGURE 33 IMPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, N.E.S., BY KEY COUNTRY, 2018–2022 (USD MILLION)
5.12.2 EXPORT SCENARIO
FIGURE 34 EXPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, BY KEY COUNTRY, 2018–2022 (USD MILLION)
5.13 PATENT ANALYSIS
FIGURE 35 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
FIGURE 36 PATENT ANALYSIS
5.13.1 LIST OF MAJOR PATENTS
5.14 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 9 REGION-WISE LIST OF KEY CONFERENCES AND EVENTS
5.15 STANDARDS AND REGULATORY LANDSCAPE
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15.2 STANDARDS
TABLE 14 MAJOR COMMUNICATION STANDARDS FOR SCADA SYSTEMS
TABLE 15 INDUSTRIAL SAFETY STANDARDS
6 MACHINE SAFETY MARKET, BY COMPONENT
6.1 INTRODUCTION
FIGURE 37 SMART FACTORY MARKET, BY COMPONENT
FIGURE 38 INDUSTRIAL SENSORS COMPONENT SEGMENT TO LEAD SMART FACTORY MARKET DURING FORECAST PERIOD
TABLE 16 SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 17 SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
6.2 INDUSTRIAL SENSORS
TABLE 18 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2020–2023 (USD MILLION)
TABLE 19 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2024–2029 (USD MILLION)
TABLE 20 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS)
TABLE 21 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS)
TABLE 22 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 23 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.2.1 LEVEL SENSORS
6.2.1.1 Requirement to measure liquid, bulk solid, and other fluid levels to drive market
6.2.2 TEMPERATURE SENSORS
6.2.2.1 Adoption of lean manufacturing and process control technologies to drive market
6.2.3 FLOW SENSORS
6.2.3.1 Wide use in monitoring flow of various chemicals to foster market growth
6.2.4 POSITION SENSORS
6.2.4.1 Increasing demand from several applications to drive market
6.2.5 PRESSURE SENSORS
6.2.5.1 Replacement of pressure transducers with cost-efficient pressure transmitters to drive market
6.2.6 FORCE SENSORS
6.2.6.1 Demand for force control to improve safety and comfort in robot - human interactions to drive market
6.2.7 HUMIDITY & MOISTURE SENSORS
6.2.7.1 Extensive use in chemicals, pharmaceuticals, oil & gas, and food & beverage industries to drive market
6.2.8 IMAGE SENSORS
6.2.8.1 Wide usage in imaging devices to foster market growth
6.2.9 GAS SENSORS
6.2.9.1 Rising demand from various end-use industries to drive market
6.3 INDUSTRIAL ROBOTS
TABLE 24 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 25 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 26 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 27 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 28 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 29 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.3.1 TRADITIONAL INDUSTRIAL ROBOTS
6.3.1.1 Adoption of automated manufacturing techniques to drive market growth
6.3.1.2 Articulated robots
6.3.1.2.1 Demand for assembly, welding, and machine load and unloads to drive market
6.3.1.3 Cartesian robots
6.3.1.3.1 Provision of accurate and quick solutions for material handling applications to drive market
6.3.1.4 Selective compliance assembly robot arm
6.3.1.4.1 Enabling flexible horizontal motions while being fixed vertically to drive market
6.3.1.5 Cylindrical robots
6.3.1.5.1 Deployment in various robotic applications to drive market
6.3.1.6 Other robots
6.3.2 COLLABORATIVE ROBOTS
6.3.2.1 High production efficiency through human-robot collaboration to drive market
6.4 INDUSTRIAL 3D PRINTERS
6.4.1 ELIMINATION OF ASSEMBLY LINE AND REDUCTION OF LABOR COSTS TO DRIVE MARKET
TABLE 30 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 31 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 32 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS)
TABLE 33 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS)
TABLE 34 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2020–2023 (USD MILLION)
TABLE 35 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2024–2029 (USD MILLION)
TABLE 36 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 37 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.5 MACHINE VISION SYSTEMS
6.5.1 INCREASING DEMAND FOR QUALITY FROM MANUFACTURERS AND CUSTOMERS TO DRIVE MARKET
TABLE 38 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 39 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 40 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 41 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 42 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 43 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.5.2 CAMERAS
6.5.2.1 Demand for high-quality images, image processing, and compactness to drive market
6.5.3 FRAME GRABBERS, OPTICS, AND LED LIGHTING
6.5.3.1 Enhancement of image quality to drive market
6.5.4 PROCESSORS AND SOFTWARE
6.5.4.1 Extraction of patterns from images of products to match predefined requirements and enable approval to drive market
7 SMART FACTORY MARKET, BY SOLUTION
7.1 INTRODUCTION
FIGURE 39 SMART FACTORY MARKET, BY SOLUTION
FIGURE 40 MES SEGMENT TO LEAD SMART FACTORY MARKET FROM 2024 TO 2029
TABLE 44 SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 45 SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
7.2 MANUFACTURING EXECUTION SYSTEM (MES)
7.2.1 INCREASING PRODUCTIVITY, REDUCING SHIPPING TIME, AND PROCESSING DATA TO DRIVE MARKET
TABLE 46 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 47 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 48 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 49 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
7.3.1 CONTROL AND ACQUISITION OF DATA FROM REMOTE DEVICES TO DRIVE MARKET
TABLE 50 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 51 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 52 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 53 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 PLANT ASSET MANAGEMENT (PAM)
7.4.1 REDUCED UNPLANNED DOWNTIME AND OPTIMIZED ASSET UTILIZATION TO FOSTER MARKET GROWTH
TABLE 54 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 55 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.5 INDUSTRIAL SAFETY
7.5.1 RISK MITIGATION IN SENSORS, LOGIC CONTROLS, AND ACTING ELEMENTS TO DRIVE MARKET
TABLE 56 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 57 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
8 SMART FACTORY MARKET, BY INDUSTRY
8.1 INTRODUCTION
FIGURE 41 SMART FACTORY MARKET, BY INDUSTRY
TABLE 58 SMART FACTORY MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)
TABLE 59 SMART FACTORY MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)
8.2 PROCESS INDUSTRIES
8.2.1 NEED TO DELIVER SUPERIOR PRODUCTS AT COMPETITIVE COSTS TO DRIVE MARKET
TABLE 60 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2020–2023 (USD MILLION)
TABLE 61 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2024–2029 (USD MILLION)
FIGURE 42 METALS & MINING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
8.2.2 OIL & GAS
8.2.2.1 Reliability in large-scale production, product quality, and accelerated decision-making to drive market
TABLE 62 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 63 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 64 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 65 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.3 CHEMICALS
8.2.3.1 Enhancement of production efficiencies and operational excellence in processes to drive market
TABLE 66 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 67 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 68 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 69 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.4 PULP & PAPER
8.2.4.1 Workflow management and process optimization to boost market
TABLE 70 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 71 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 72 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 73 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.5 PHARMACEUTICALS
8.2.5.1 Need to standardize workflows and enable regulatory compliances to fuel market
TABLE 74 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 75 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 76 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 77 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.6 METALS & MINING
8.2.6.1 Cost containment, supply chain visibility, and risk management to drive market
TABLE 78 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 79 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 80 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 81 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.7 FOOD & BEVERAGE
8.2.7.1 Cost-efficient and streamlined production processes to foster growth
TABLE 82 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 83 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 84 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 85 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.8 ENERGY & POWER
8.2.8.1 Improved plant performance and flexibility in electricity production to drive market
TABLE 86 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 87 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 88 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 89 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.9 OTHER PROCESS INDUSTRIES
TABLE 90 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 91 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 92 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 93 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3 DISCRETE INDUSTRIES
8.3.1 OPTIMIZATION OF SUPPLY CHAIN MANAGEMENT TO DRIVE MARKET
TABLE 94 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2020–2023 (USD MILLION)
TABLE 95 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2024–2029 (USD MILLION)
FIGURE 43 AUTOMOTIVE INDUSTRY TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
8.3.2 AUTOMOTIVE
8.3.2.1 Development and production of high-quality automobiles to drive market
TABLE 96 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 97 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 98 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 99 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.3 AEROSPACE
8.3.3.1 Real-time visibility of production processes, equipment conditions, and process defects to drive market
TABLE 100 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 101 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 102 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 103 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.4 SEMICONDUCTOR & ELECTRONICS
8.3.4.1 Need to achieve accuracy in designing complex products to drive market
TABLE 104 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 105 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 106 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 107 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.5 MACHINE MANUFACTURING
8.3.5.1 Prevention of machine breakdown and unplanned downtime to drive market
TABLE 108 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 109 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 110 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 111 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.6 MEDICAL DEVICES
8.3.6.1 Pressing need for manufacturing precision and high profitability to boost demand
TABLE 112 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 113 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 114 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 115 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.7 OTHER DISCRETE INDUSTRIES
TABLE 116 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 117 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 118 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 119 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9 SMART FACTORY MARKET, BY REGION
9.1 INTRODUCTION
FIGURE 44 SMART FACTORY MARKET, BY REGION
FIGURE 45 SMART FACTORY MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2024 TO 2029
TABLE 120 SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 121 SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
9.2 NORTH AMERICA
9.2.1 IMPACT OF RECESSION ON NORTH AMERICA
FIGURE 46 NORTH AMERICA: SMART FACTORY MARKET SNAPSHOT
TABLE 122 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 123 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 124 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 125 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 126 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 127 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.2.2 US
9.2.2.1 Operational efficiency, improved product quality, and optimal use of resources to drive market
9.2.3 CANADA
9.2.3.1 Increasing government support for adopting advanced manufacturing technologies to drive market
9.2.4 MEXICO
9.2.4.1 Increasing investments and expansions by global market players to drive market
9.3 EUROPE
9.3.1 IMPACT OF RECESSION ON EUROPE
FIGURE 47 EUROPE: SMART FACTORY MARKET SNAPSHOT
TABLE 128 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 129 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 130 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 131 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 132 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 133 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.3.2 UK
9.3.2.1 Increasing adoption of smart factory solutions in automotive industry to drive market
9.3.3 GERMANY
9.3.3.1 Industry 4.0 initiative to automate operations to drive market
9.3.4 FRANCE
9.3.4.1 Growth of industrial sector to drive market
9.3.5 ITALY
9.3.5.1 Focus on boosting manufacturing output to drive market
9.3.6 REST OF EUROPE
9.4 ASIA PACIFIC
9.4.1 IMPACT OF RECESSION ON ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: SMART FACTORY MARKET SNAPSHOT
TABLE 134 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 135 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 136 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 137 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 138 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 139 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.4.2 CHINA
9.4.2.1 Increasing adoption of automation solutions due to rising labor costs to drive market
9.4.3 JAPAN
9.4.3.1 Ongoing developments in smart manufacturing processes to drive market
9.4.4 INDIA
9.4.4.1 Rapid industrialization, recovering economy, growing government support, and increasing foreign investments to drive market
9.4.5 REST OF ASIA PACIFIC
9.5 REST OF THE WORLD (ROW)
9.5.1 IMPACT OF RECESSION ON ROW
FIGURE 49 REST OF THE WORLD: SMART FACTORY MARKET SNAPSHOT
TABLE 140 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 141 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 142 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 143 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 144 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 145 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.5.2 GCC COUNTRIES
9.5.2.1 Commitment to technological advancement and industrial automation to drive market
9.5.3 AFRICA & REST OF MIDDLE EAST
9.5.3.1 Manufacturing, chemicals, oil & gas, machinery, and metal products industries to drive market
9.5.4 SOUTH AMERICA
9.5.4.1 Increasing demand for smart factory solutions to drive market
10 COMPETITIVE LANDSCAPE
10.1 INTRODUCTION
10.2 KEY PLAYER STRATEGIES
TABLE 146 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN SMART FACTORY MARKET, 2022–2023
10.3 REVENUE ANALYSIS
FIGURE 50 INDUSTRIAL SENSORS MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022
10.4 MARKET SHARE ANALYSIS
TABLE 147 INDUSTRIAL SENSORS MARKET: DEGREE OF COMPETITION
FIGURE 51 INDUSTRIAL SENSORS MARKET SHARE ANALYSIS, 2023
10.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023
FIGURE 52 COMPANY VALUATION, 2023 (USD BILLION)
FIGURE 53 FINANCIAL METRICS (EV/EBITDA), 2022
10.6 BRAND/PRODUCT COMPARISON
FIGURE 54 BRAND/PRODUCT COMPARISON
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.7.1 STARS
10.7.2 EMERGING LEADERS
10.7.3 PERVASIVE PLAYERS
10.7.4 PARTICIPANTS
FIGURE 55 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.7.5.1 Overall footprint
TABLE 148 OVERALL COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.2 Sensor type footprint
TABLE 149 SENSOR TYPE: COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.3 Industry footprint
TABLE 150 INDUSTRY: COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.4 Region footprint
TABLE 151 REGION: COMPANY FOOTPRINT (25 COMPANIES)
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
TABLE 152 STARTUPS/SMES IN INDUSTRIAL SENSORS MARKET
10.8.1 PROGRESSIVE COMPANIES
10.8.2 RESPONSIVE COMPANIES
10.8.3 DYNAMIC COMPANIES
10.8.4 STARTING BLOCKS
FIGURE 56 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.8.5.1 List of key startups/SMEs
TABLE 153 INDUSTRIAL SENSORS MARKET: LIST OF KEY STARTUPS/SMES
10.8.5.2 Competitive benchmarking of key startups/SMEs
TABLE 154 INDUSTRIAL SENSORS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 155 SMART FACTORY MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024
10.9.2 DEALS
TABLE 156 SMART FACTORY MARKET: DEALS, JANUARY 2022–FEBRUARY 2024
10.9.3 CONTRACTS
TABLE 157 SMART FACTORY MARKET: CONTRACTS, JANUARY 2022–FEBRUARY 2024
10.9.4 EXPANSIONS
TABLE 158 SMART FACTORY MARKET: EXPANSIONS, JANUARY 2022–FEBRUARY 2024
10.9.5 OTHER DEVELOPMENTS
TABLE 159 SMART FACTORY MARKET: OTHER DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024
11 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1 KEY PLAYERS
11.1.1 ABB
TABLE 160 ABB: COMPANY OVERVIEW
FIGURE 57 ABB: COMPANY SNAPSHOT
TABLE 161 ABB: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 162 ABB: DEALS
TABLE 163 ABB: EXPANSIONS
11.1.2 EMERSON ELECTRIC CO.
TABLE 164 EMERSON ELECTRIC CO.: COMPANY OVERVIEW
FIGURE 58 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
TABLE 165 EMERSON ELECTRIC CO.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 166 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 167 EMERSON ELECTRIC CO.: DEALS
11.1.3 SIEMENS
TABLE 168 SIEMENS: COMPANY OVERVIEW
FIGURE 59 SIEMENS: COMPANY SNAPSHOT
TABLE 169 SIEMENS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 170 SIEMENS: DEALS
11.1.4 SCHNEIDER ELECTRIC
TABLE 171 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
FIGURE 60 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 172 SCHNEIDER ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 173 SCHNEIDER ELECTRIC: EXPANSIONS
11.1.5 MITSUBISHI ELECTRIC CORPORATION
TABLE 174 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 61 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 175 MITSUBISHI ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 176 MITSUBISHI ELECTRIC CORPORATION: OTHERS
TABLE 177 MITSUBISHI ELECTRIC CORPORATION: EXPANSIONS
11.1.6 GENERAL ELECTRIC
TABLE 178 GENERAL ELECTRIC: COMPANY OVERVIEW
FIGURE 62 GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 179 GENERAL ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 180 GENERAL ELECTRIC: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 181 GENERAL ELECTRIC: EXPANSIONS
11.1.7 ROCKWELL AUTOMATION, INC.
TABLE 182 ROCKWELL AUTOMATION, INC.: COMPANY OVERVIEW
FIGURE 63 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT
TABLE 183 ROCKWELL AUTOMATION, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 184 ROCKWELL AUTOMATION, INC.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 185 ROCKWELL AUTOMATION, INC.: DEALS
TABLE 186 ROCKWELL AUTOMATION, INC.: EXPANSIONS
11.1.8 HONEYWELL INTERNATIONAL INC.
TABLE 187 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
FIGURE 64 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
TABLE 188 HONEYWELL INTERNATIONAL INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 189 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 190 HONEYWELL INTERNATIONAL INC.: DEALS
11.1.9 YOKOGAWA ELECTRIC CORPORATION
TABLE 191 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 65 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 192 YOKOGAWA ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 193 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 194 YOKOGAWA ELECTRIC CORPORATION: CONTRACTS
11.1.10 OMRON CORPORATION
TABLE 195 OMRON CORPORATION: COMPANY OVERVIEW
FIGURE 66 OMRON CORPORATION: COMPANY SNAPSHOT
TABLE 196 OMRON CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 197 OMRON CORPORATION: DEALS
11.1.11 ENDRESS+HAUSER GROUP SERVICES AG
TABLE 198 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY OVERVIEW
FIGURE 67 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY SNAPSHOT
TABLE 199 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 200 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 201 ENDRESS+HAUSER GROUP SERVICES AG: EXPANSIONS
11.1.12 FANUC CORPORATION
TABLE 202 FANUC CORPORATION: COMPANY OVERVIEW
FIGURE 68 FANUC CORPORATION: COMPANY SNAPSHOT
TABLE 203 FANUC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
11.1.13 WIKA
TABLE 204 WIKA: COMPANY OVERVIEW
TABLE 205 WIKA: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 206 WIKA: EXPANSIONS
11.1.14 DWYER INSTRUMENTS, LLC.
TABLE 207 DWYER INSTRUMENTS, LLC.: COMPANY OVERVIEW
TABLE 208 DWYER INSTRUMENTS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 209 DWYER INSTRUMENTS: PRODUCT LAUNCHES AND DEVELOPMENTS
11.1.15 STRATASYS
TABLE 210 STRATASYS: COMPANY OVERVIEW
FIGURE 69 STRATASYS: COMPANY SNAPSHOT
TABLE 211 STRATASYS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 212 STRATASYS: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 213 STRATASYS: DEALS
11.1.16 3D SYSTEMS, INC.
TABLE 214 3D SYSTEMS, INC.: COMPANY OVERVIEW
FIGURE 70 3D SYSTEMS, INC.: COMPANY SNAPSHOT
TABLE 215 3D SYSTEMS, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 216 3D SYSTEMS, INC.: DEALS
11.2 OTHER PLAYERS
11.2.1 FUJI ELECTRIC CO., LTD.
TABLE 217 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW
11.2.2 HITACHI, LTD.
TABLE 218 HITACHI, LTD.: COMPANY OVERVIEW
11.2.3 KROHNE MESSTECHNIK GMBH
TABLE 219 KROHNE MESSTECHNIK GMBH: COMPANY OVERVIEW
11.2.4 AZBIL CORPORATION
TABLE 220 AZBIL CORPORATION: COMPANY OVERVIEW
11.2.5 VEGA GRIESHABER KG
TABLE 221 VEGA GRIESHABER KG: COMPANY OVERVIEW
11.2.6 DANFOSS
TABLE 222 DANFOSS: COMPANY OVERVIEW
11.2.7 KUKA AG
TABLE 223 KUKA AG: COMPANY OVERVIEW
11.3 OTHER SMALL AND MEDIUM-SIZED ENTERPRISES
11.3.1 TRIDITIVE
TABLE 224 TRIDITIVE: COMPANY OVERVIEW
11.3.2 ROBOZE
TABLE 225 ROBOZE: COMPANY OVERVIEW
11.3.3 SOFTGRIPPING GMBH
TABLE 226 SOFTGRIPPING GMBH: COMPANY OVERVIEW
11.3.4 ZIVID
TABLE 227 ZIVID: COMPANY OVERVIEW
11.3.5 ENERSIS SUISSE AG
TABLE 228 ENERSIS SUISSE AG: COMPANY OVERVIEW
11.3.6 INXPECT S.P.A.
TABLE 229 INXPECT S.P.A.: COMPANY OVERVIEW
11.3.7 INUITIVE
TABLE 230 INUITIVE: COMPANY OVERVIEW
11.3.8 EARTEX LTD (EAVE)
TABLE 231 EARTEX LTD (EAVE): COMPANY OVERVIEW
11.3.9 CANARIA TECHNOLOGIES
TABLE 232 CANARIA TECHNOLOGIES: COMPANY OVERVIEW
11.3.10 FUELICS
TABLE 233 FUELICS: COMPANY OVERVIEW
11.3.11 ULTIMAKER
TABLE 234 ULTIMAKER: COMPANY OVERVIEW
11.3.12 NANO DIMENSION
TABLE 235 NANO DIMENSION: COMPANY OVERVIEW
11.3.13 DEEP LEARNING ROBOTICS
TABLE 236 DEEP LEARNING ROBOTICS: COMPANY OVERVIEW
11.3.14 PICK-IT N.V.
TABLE 237 PICK-IT N.V.: COMPANY OVERVIEW
11.3.15 ONROBOT A/S
TABLE 238 ONROBOT A/S: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 ADJACENT & RELATED MARKETS
12.1 INTRODUCTION
12.2 LIMITATIONS
12.3 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE
12.3.1 INTRODUCTION
TABLE 239 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2019–2022 (USD MILLION)
TABLE 240 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2023–2028 (USD MILLION)
12.3.2 LARGE ENTERPRISES
12.3.2.1 Rapid deployment of blockchain technology in healthcare sector to drive market
TABLE 241 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 242 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION)
12.3.3 SMALL & MEDIUM ENTERPRISES (SMES)
12.3.3.1 Subscription-based digital twin services to boost segmental growth
TABLE 243 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 244 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION)
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.8 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of interviews with experts
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE FROM INDUSTRIAL SENSORS MARKET
2.2.1 BOTTOM UP APPROACH
2.2.1.1 Approach to estimate market size using bottom up analysis
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM UP APPROACH
2.2.2 TOP DOWN APPROACH
2.2.2.1 Approach to estimate market size using top down analysis
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY PARAMETERS
2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION
2.6 RISK ASSESSMENT
TABLE 1 LIMITATIONS AND ASSOCIATED RISKS
3 EXECUTIVE SUMMARY
FIGURE 7 INDUSTRIAL SENSORS SEGMENT ESTIMATED TO BE LARGEST IN 2024
FIGURE 8 MES SEGMENT ESTIMATED TO DOMINATE MARKET IN 2024
FIGURE 9 OIL & GAS PROCESS INDUSTRY ESTIMATED TO LEAD IN 2024
FIGURE 10 MEDICAL DEVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2023
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART FACTORY MARKET
FIGURE 12 INCREASING USE OF AUTOMATION IN MANUFACTURING TO BOOST ADOPTION OF SMART FACTORY SOLUTIONS
4.2 SMART FACTORY MARKET, BY COMPONENT
FIGURE 13 INDUSTRIAL 3D PRINTERS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.3 SMART FACTORY MARKET, BY SOLUTION
FIGURE 14 MES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.4 SMART FACTORY MARKET, BY PROCESS INDUSTRY
FIGURE 15 OIL & GAS PROCESS INDUSTRY ESTIMATED TO BE LARGEST IN 2024
4.5 SMART FACTORY MARKET, BY DISCRETE INDUSTRY
FIGURE 16 AUTOMOTIVE DISCRETE INDUSTRY ESTIMATED TO BE LARGEST IN 2024
4.6 SMART FACTORY MARKET, BY COUNTRY
FIGURE 17 MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 SMART FACTORY MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Increasing focus on enhancing energy efficiency, optimizing resources, and reducing costs in production operations
5.2.1.2 Increasing demand for industrial robots
FIGURE 19 HISTORICAL AND PROJECTED ANNUAL INSTALLATION OF INDUSTRIAL ROBOTS, 2012–2022
5.2.1.3 Rising demand for technologies such as IoT and artificial intelligence in industrial environments
FIGURE 20 SMART FACTORY MARKET DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 Need for significant capital investments
5.2.2.2 Security risks associated with cyber-physical systems
FIGURE 21 SMART FACTORY MARKET RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Emergence of 5G technology in smart factories
5.2.3.2 Advancements in wireless sensor networks and integration into intelligent manufacturing facilities
FIGURE 22 SMART FACTORY MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Interoperability between information technology (IT) and operational technology (OT)
5.2.4.2 Vulnerability to cyberattacks
FIGURE 23 SMART FACTORY MARKET CHALLENGES AND THEIR IMPACT
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 24 SMART FACTORY SUPPLY CHAIN ANALYSIS
5.3.1 MANUFACTURING
5.3.2 SOFTWARE DEVELOPMENT
5.3.3 PRODUCT, SOLUTION, AND SYSTEM INTEGRATION
5.3.4 DISTRIBUTORS
5.3.5 END USER INDUSTRIES
5.3.6 POST-SALES SERVICES
5.4 ECOSYSTEM ANALYSIS
FIGURE 25 ECOSYSTEM
TABLE 2 ROLE OF PLAYERS IN ECOSYSTEM
5.5 INVESTMENT AND FUNDING SCENARIO
FIGURE 26 FUNDING FOR SMART FACTORY PLAYERS (2019–2023)
5.6 PRICING ANALYSIS
5.6.1 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS
TABLE 3 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS, BY PAYLOAD CAPACITY
FIGURE 27 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT
5.6.2 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD)
TABLE 4 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD)
5.6.3 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD)
TABLE 5 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD)
5.6.4 AVERAGE SELLING PRICE TREND, BY PAYLOAD CAPACITY
FIGURE 28 INDUSTRIAL ROBOTS MARKET: AVERAGE PRICE BASED ON PAYLOAD CAPACITY
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
FIGURE 29 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 30 SMART FACTORY MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 6 IMPACT OF PORTER’S FIVE FORCES ON SMART FACTORY MARKET
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF SUPPLIERS
5.8.4 BARGAINING POWER OF BUYERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 CASE STUDY ANALYSIS
5.9.1 ELOPAK INSTALLS FULLY ASEPTIC FILLING MACHINE FOR GABLE TOP PACKAGING WITH ROBUST PNEUMATICS FROM EMERSON AVENTICS
5.9.2 MP EQUIPMENT JOINS HANDS WITH ROCKWELL AUTOMATION SAFETY CONSULTANTS TO RE-EVALUATE DESIGN OF PROTEIN PORTIONING MACHINE
5.9.3 MOLLART ENGINEERING SELECTS PROCTER SMART FACTORY’S ENCLOSED GUARDS TO INSTALL IN ITS MACHINE TOOLS
5.10 TECHNOLOGY TRENDS
5.10.1 KEY TECHNOLOGIES
5.10.1.1 Artificial Intelligence
5.10.1.2 Augmented Reality
5.10.1.3 IoT
5.10.2 COMPLEMENTARY TECHNOLOGY
5.10.2.1 5G
5.10.2.2 Digital Twin
5.10.2.3 Predictive Maintenance
5.10.3 ADJACENT TECHNOLOGY
5.10.3.1 Blockchain
5.10.3.2 Smart Energy Management
5.10.3.3 Edge Computing
5.10.3.4 Predictive Supply Chain
5.10.3.5 Cybersecurity
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 31 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS
TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS
5.11.2 BUYING CRITERIA
FIGURE 32 BUYING CRITERIA OF TOP 3 INDUSTRIES
TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES
5.12 TRADE ANALYSIS
5.12.1 IMPORT SCENARIO
FIGURE 33 IMPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, N.E.S., BY KEY COUNTRY, 2018–2022 (USD MILLION)
5.12.2 EXPORT SCENARIO
FIGURE 34 EXPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, BY KEY COUNTRY, 2018–2022 (USD MILLION)
5.13 PATENT ANALYSIS
FIGURE 35 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
FIGURE 36 PATENT ANALYSIS
5.13.1 LIST OF MAJOR PATENTS
5.14 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 9 REGION-WISE LIST OF KEY CONFERENCES AND EVENTS
5.15 STANDARDS AND REGULATORY LANDSCAPE
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15.2 STANDARDS
TABLE 14 MAJOR COMMUNICATION STANDARDS FOR SCADA SYSTEMS
TABLE 15 INDUSTRIAL SAFETY STANDARDS
6 MACHINE SAFETY MARKET, BY COMPONENT
6.1 INTRODUCTION
FIGURE 37 SMART FACTORY MARKET, BY COMPONENT
FIGURE 38 INDUSTRIAL SENSORS COMPONENT SEGMENT TO LEAD SMART FACTORY MARKET DURING FORECAST PERIOD
TABLE 16 SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 17 SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
6.2 INDUSTRIAL SENSORS
TABLE 18 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2020–2023 (USD MILLION)
TABLE 19 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2024–2029 (USD MILLION)
TABLE 20 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS)
TABLE 21 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS)
TABLE 22 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 23 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.2.1 LEVEL SENSORS
6.2.1.1 Requirement to measure liquid, bulk solid, and other fluid levels to drive market
6.2.2 TEMPERATURE SENSORS
6.2.2.1 Adoption of lean manufacturing and process control technologies to drive market
6.2.3 FLOW SENSORS
6.2.3.1 Wide use in monitoring flow of various chemicals to foster market growth
6.2.4 POSITION SENSORS
6.2.4.1 Increasing demand from several applications to drive market
6.2.5 PRESSURE SENSORS
6.2.5.1 Replacement of pressure transducers with cost-efficient pressure transmitters to drive market
6.2.6 FORCE SENSORS
6.2.6.1 Demand for force control to improve safety and comfort in robot - human interactions to drive market
6.2.7 HUMIDITY & MOISTURE SENSORS
6.2.7.1 Extensive use in chemicals, pharmaceuticals, oil & gas, and food & beverage industries to drive market
6.2.8 IMAGE SENSORS
6.2.8.1 Wide usage in imaging devices to foster market growth
6.2.9 GAS SENSORS
6.2.9.1 Rising demand from various end-use industries to drive market
6.3 INDUSTRIAL ROBOTS
TABLE 24 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (USD MILLION)
TABLE 25 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (USD MILLION)
TABLE 26 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 27 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 28 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 29 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.3.1 TRADITIONAL INDUSTRIAL ROBOTS
6.3.1.1 Adoption of automated manufacturing techniques to drive market growth
6.3.1.2 Articulated robots
6.3.1.2.1 Demand for assembly, welding, and machine load and unloads to drive market
6.3.1.3 Cartesian robots
6.3.1.3.1 Provision of accurate and quick solutions for material handling applications to drive market
6.3.1.4 Selective compliance assembly robot arm
6.3.1.4.1 Enabling flexible horizontal motions while being fixed vertically to drive market
6.3.1.5 Cylindrical robots
6.3.1.5.1 Deployment in various robotic applications to drive market
6.3.1.6 Other robots
6.3.2 COLLABORATIVE ROBOTS
6.3.2.1 High production efficiency through human-robot collaboration to drive market
6.4 INDUSTRIAL 3D PRINTERS
6.4.1 ELIMINATION OF ASSEMBLY LINE AND REDUCTION OF LABOR COSTS TO DRIVE MARKET
TABLE 30 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 31 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 32 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS)
TABLE 33 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS)
TABLE 34 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2020–2023 (USD MILLION)
TABLE 35 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2024–2029 (USD MILLION)
TABLE 36 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 37 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.5 MACHINE VISION SYSTEMS
6.5.1 INCREASING DEMAND FOR QUALITY FROM MANUFACTURERS AND CUSTOMERS TO DRIVE MARKET
TABLE 38 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 39 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 40 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 41 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 42 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 43 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
6.5.2 CAMERAS
6.5.2.1 Demand for high-quality images, image processing, and compactness to drive market
6.5.3 FRAME GRABBERS, OPTICS, AND LED LIGHTING
6.5.3.1 Enhancement of image quality to drive market
6.5.4 PROCESSORS AND SOFTWARE
6.5.4.1 Extraction of patterns from images of products to match predefined requirements and enable approval to drive market
7 SMART FACTORY MARKET, BY SOLUTION
7.1 INTRODUCTION
FIGURE 39 SMART FACTORY MARKET, BY SOLUTION
FIGURE 40 MES SEGMENT TO LEAD SMART FACTORY MARKET FROM 2024 TO 2029
TABLE 44 SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 45 SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
7.2 MANUFACTURING EXECUTION SYSTEM (MES)
7.2.1 INCREASING PRODUCTIVITY, REDUCING SHIPPING TIME, AND PROCESSING DATA TO DRIVE MARKET
TABLE 46 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 47 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 48 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 49 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA)
7.3.1 CONTROL AND ACQUISITION OF DATA FROM REMOTE DEVICES TO DRIVE MARKET
TABLE 50 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 51 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION)
TABLE 52 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 53 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 PLANT ASSET MANAGEMENT (PAM)
7.4.1 REDUCED UNPLANNED DOWNTIME AND OPTIMIZED ASSET UTILIZATION TO FOSTER MARKET GROWTH
TABLE 54 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 55 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
7.5 INDUSTRIAL SAFETY
7.5.1 RISK MITIGATION IN SENSORS, LOGIC CONTROLS, AND ACTING ELEMENTS TO DRIVE MARKET
TABLE 56 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 57 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
8 SMART FACTORY MARKET, BY INDUSTRY
8.1 INTRODUCTION
FIGURE 41 SMART FACTORY MARKET, BY INDUSTRY
TABLE 58 SMART FACTORY MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)
TABLE 59 SMART FACTORY MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)
8.2 PROCESS INDUSTRIES
8.2.1 NEED TO DELIVER SUPERIOR PRODUCTS AT COMPETITIVE COSTS TO DRIVE MARKET
TABLE 60 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2020–2023 (USD MILLION)
TABLE 61 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2024–2029 (USD MILLION)
FIGURE 42 METALS & MINING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
8.2.2 OIL & GAS
8.2.2.1 Reliability in large-scale production, product quality, and accelerated decision-making to drive market
TABLE 62 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 63 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 64 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 65 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.3 CHEMICALS
8.2.3.1 Enhancement of production efficiencies and operational excellence in processes to drive market
TABLE 66 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 67 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 68 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 69 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.4 PULP & PAPER
8.2.4.1 Workflow management and process optimization to boost market
TABLE 70 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 71 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 72 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 73 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.5 PHARMACEUTICALS
8.2.5.1 Need to standardize workflows and enable regulatory compliances to fuel market
TABLE 74 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 75 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 76 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 77 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.6 METALS & MINING
8.2.6.1 Cost containment, supply chain visibility, and risk management to drive market
TABLE 78 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 79 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 80 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 81 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.7 FOOD & BEVERAGE
8.2.7.1 Cost-efficient and streamlined production processes to foster growth
TABLE 82 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 83 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 84 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 85 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.8 ENERGY & POWER
8.2.8.1 Improved plant performance and flexibility in electricity production to drive market
TABLE 86 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 87 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 88 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 89 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.2.9 OTHER PROCESS INDUSTRIES
TABLE 90 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 91 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 92 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 93 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3 DISCRETE INDUSTRIES
8.3.1 OPTIMIZATION OF SUPPLY CHAIN MANAGEMENT TO DRIVE MARKET
TABLE 94 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2020–2023 (USD MILLION)
TABLE 95 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2024–2029 (USD MILLION)
FIGURE 43 AUTOMOTIVE INDUSTRY TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024
8.3.2 AUTOMOTIVE
8.3.2.1 Development and production of high-quality automobiles to drive market
TABLE 96 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 97 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 98 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 99 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.3 AEROSPACE
8.3.3.1 Real-time visibility of production processes, equipment conditions, and process defects to drive market
TABLE 100 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 101 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 102 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 103 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.4 SEMICONDUCTOR & ELECTRONICS
8.3.4.1 Need to achieve accuracy in designing complex products to drive market
TABLE 104 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 105 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 106 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 107 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.5 MACHINE MANUFACTURING
8.3.5.1 Prevention of machine breakdown and unplanned downtime to drive market
TABLE 108 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 109 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 110 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 111 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.6 MEDICAL DEVICES
8.3.6.1 Pressing need for manufacturing precision and high profitability to boost demand
TABLE 112 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 113 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 114 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 115 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
8.3.7 OTHER DISCRETE INDUSTRIES
TABLE 116 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 117 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 118 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 119 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9 SMART FACTORY MARKET, BY REGION
9.1 INTRODUCTION
FIGURE 44 SMART FACTORY MARKET, BY REGION
FIGURE 45 SMART FACTORY MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2024 TO 2029
TABLE 120 SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 121 SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
9.2 NORTH AMERICA
9.2.1 IMPACT OF RECESSION ON NORTH AMERICA
FIGURE 46 NORTH AMERICA: SMART FACTORY MARKET SNAPSHOT
TABLE 122 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 123 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 124 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 125 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 126 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 127 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.2.2 US
9.2.2.1 Operational efficiency, improved product quality, and optimal use of resources to drive market
9.2.3 CANADA
9.2.3.1 Increasing government support for adopting advanced manufacturing technologies to drive market
9.2.4 MEXICO
9.2.4.1 Increasing investments and expansions by global market players to drive market
9.3 EUROPE
9.3.1 IMPACT OF RECESSION ON EUROPE
FIGURE 47 EUROPE: SMART FACTORY MARKET SNAPSHOT
TABLE 128 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 129 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 130 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 131 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 132 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 133 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.3.2 UK
9.3.2.1 Increasing adoption of smart factory solutions in automotive industry to drive market
9.3.3 GERMANY
9.3.3.1 Industry 4.0 initiative to automate operations to drive market
9.3.4 FRANCE
9.3.4.1 Growth of industrial sector to drive market
9.3.5 ITALY
9.3.5.1 Focus on boosting manufacturing output to drive market
9.3.6 REST OF EUROPE
9.4 ASIA PACIFIC
9.4.1 IMPACT OF RECESSION ON ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: SMART FACTORY MARKET SNAPSHOT
TABLE 134 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 135 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 136 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 137 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 138 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 139 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.4.2 CHINA
9.4.2.1 Increasing adoption of automation solutions due to rising labor costs to drive market
9.4.3 JAPAN
9.4.3.1 Ongoing developments in smart manufacturing processes to drive market
9.4.4 INDIA
9.4.4.1 Rapid industrialization, recovering economy, growing government support, and increasing foreign investments to drive market
9.4.5 REST OF ASIA PACIFIC
9.5 REST OF THE WORLD (ROW)
9.5.1 IMPACT OF RECESSION ON ROW
FIGURE 49 REST OF THE WORLD: SMART FACTORY MARKET SNAPSHOT
TABLE 140 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 141 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 142 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)
TABLE 143 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)
TABLE 144 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION)
TABLE 145 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION)
9.5.2 GCC COUNTRIES
9.5.2.1 Commitment to technological advancement and industrial automation to drive market
9.5.3 AFRICA & REST OF MIDDLE EAST
9.5.3.1 Manufacturing, chemicals, oil & gas, machinery, and metal products industries to drive market
9.5.4 SOUTH AMERICA
9.5.4.1 Increasing demand for smart factory solutions to drive market
10 COMPETITIVE LANDSCAPE
10.1 INTRODUCTION
10.2 KEY PLAYER STRATEGIES
TABLE 146 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN SMART FACTORY MARKET, 2022–2023
10.3 REVENUE ANALYSIS
FIGURE 50 INDUSTRIAL SENSORS MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022
10.4 MARKET SHARE ANALYSIS
TABLE 147 INDUSTRIAL SENSORS MARKET: DEGREE OF COMPETITION
FIGURE 51 INDUSTRIAL SENSORS MARKET SHARE ANALYSIS, 2023
10.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023
FIGURE 52 COMPANY VALUATION, 2023 (USD BILLION)
FIGURE 53 FINANCIAL METRICS (EV/EBITDA), 2022
10.6 BRAND/PRODUCT COMPARISON
FIGURE 54 BRAND/PRODUCT COMPARISON
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.7.1 STARS
10.7.2 EMERGING LEADERS
10.7.3 PERVASIVE PLAYERS
10.7.4 PARTICIPANTS
FIGURE 55 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.7.5.1 Overall footprint
TABLE 148 OVERALL COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.2 Sensor type footprint
TABLE 149 SENSOR TYPE: COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.3 Industry footprint
TABLE 150 INDUSTRY: COMPANY FOOTPRINT (25 COMPANIES)
10.7.5.4 Region footprint
TABLE 151 REGION: COMPANY FOOTPRINT (25 COMPANIES)
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
TABLE 152 STARTUPS/SMES IN INDUSTRIAL SENSORS MARKET
10.8.1 PROGRESSIVE COMPANIES
10.8.2 RESPONSIVE COMPANIES
10.8.3 DYNAMIC COMPANIES
10.8.4 STARTING BLOCKS
FIGURE 56 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.8.5.1 List of key startups/SMEs
TABLE 153 INDUSTRIAL SENSORS MARKET: LIST OF KEY STARTUPS/SMES
10.8.5.2 Competitive benchmarking of key startups/SMEs
TABLE 154 INDUSTRIAL SENSORS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 155 SMART FACTORY MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024
10.9.2 DEALS
TABLE 156 SMART FACTORY MARKET: DEALS, JANUARY 2022–FEBRUARY 2024
10.9.3 CONTRACTS
TABLE 157 SMART FACTORY MARKET: CONTRACTS, JANUARY 2022–FEBRUARY 2024
10.9.4 EXPANSIONS
TABLE 158 SMART FACTORY MARKET: EXPANSIONS, JANUARY 2022–FEBRUARY 2024
10.9.5 OTHER DEVELOPMENTS
TABLE 159 SMART FACTORY MARKET: OTHER DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024
11 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1 KEY PLAYERS
11.1.1 ABB
TABLE 160 ABB: COMPANY OVERVIEW
FIGURE 57 ABB: COMPANY SNAPSHOT
TABLE 161 ABB: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 162 ABB: DEALS
TABLE 163 ABB: EXPANSIONS
11.1.2 EMERSON ELECTRIC CO.
TABLE 164 EMERSON ELECTRIC CO.: COMPANY OVERVIEW
FIGURE 58 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
TABLE 165 EMERSON ELECTRIC CO.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 166 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 167 EMERSON ELECTRIC CO.: DEALS
11.1.3 SIEMENS
TABLE 168 SIEMENS: COMPANY OVERVIEW
FIGURE 59 SIEMENS: COMPANY SNAPSHOT
TABLE 169 SIEMENS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 170 SIEMENS: DEALS
11.1.4 SCHNEIDER ELECTRIC
TABLE 171 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
FIGURE 60 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 172 SCHNEIDER ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 173 SCHNEIDER ELECTRIC: EXPANSIONS
11.1.5 MITSUBISHI ELECTRIC CORPORATION
TABLE 174 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 61 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 175 MITSUBISHI ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 176 MITSUBISHI ELECTRIC CORPORATION: OTHERS
TABLE 177 MITSUBISHI ELECTRIC CORPORATION: EXPANSIONS
11.1.6 GENERAL ELECTRIC
TABLE 178 GENERAL ELECTRIC: COMPANY OVERVIEW
FIGURE 62 GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 179 GENERAL ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 180 GENERAL ELECTRIC: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 181 GENERAL ELECTRIC: EXPANSIONS
11.1.7 ROCKWELL AUTOMATION, INC.
TABLE 182 ROCKWELL AUTOMATION, INC.: COMPANY OVERVIEW
FIGURE 63 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT
TABLE 183 ROCKWELL AUTOMATION, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 184 ROCKWELL AUTOMATION, INC.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 185 ROCKWELL AUTOMATION, INC.: DEALS
TABLE 186 ROCKWELL AUTOMATION, INC.: EXPANSIONS
11.1.8 HONEYWELL INTERNATIONAL INC.
TABLE 187 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
FIGURE 64 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
TABLE 188 HONEYWELL INTERNATIONAL INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 189 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 190 HONEYWELL INTERNATIONAL INC.: DEALS
11.1.9 YOKOGAWA ELECTRIC CORPORATION
TABLE 191 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 65 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
TABLE 192 YOKOGAWA ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 193 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 194 YOKOGAWA ELECTRIC CORPORATION: CONTRACTS
11.1.10 OMRON CORPORATION
TABLE 195 OMRON CORPORATION: COMPANY OVERVIEW
FIGURE 66 OMRON CORPORATION: COMPANY SNAPSHOT
TABLE 196 OMRON CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 197 OMRON CORPORATION: DEALS
11.1.11 ENDRESS+HAUSER GROUP SERVICES AG
TABLE 198 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY OVERVIEW
FIGURE 67 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY SNAPSHOT
TABLE 199 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 200 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 201 ENDRESS+HAUSER GROUP SERVICES AG: EXPANSIONS
11.1.12 FANUC CORPORATION
TABLE 202 FANUC CORPORATION: COMPANY OVERVIEW
FIGURE 68 FANUC CORPORATION: COMPANY SNAPSHOT
TABLE 203 FANUC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
11.1.13 WIKA
TABLE 204 WIKA: COMPANY OVERVIEW
TABLE 205 WIKA: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 206 WIKA: EXPANSIONS
11.1.14 DWYER INSTRUMENTS, LLC.
TABLE 207 DWYER INSTRUMENTS, LLC.: COMPANY OVERVIEW
TABLE 208 DWYER INSTRUMENTS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 209 DWYER INSTRUMENTS: PRODUCT LAUNCHES AND DEVELOPMENTS
11.1.15 STRATASYS
TABLE 210 STRATASYS: COMPANY OVERVIEW
FIGURE 69 STRATASYS: COMPANY SNAPSHOT
TABLE 211 STRATASYS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 212 STRATASYS: PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 213 STRATASYS: DEALS
11.1.16 3D SYSTEMS, INC.
TABLE 214 3D SYSTEMS, INC.: COMPANY OVERVIEW
FIGURE 70 3D SYSTEMS, INC.: COMPANY SNAPSHOT
TABLE 215 3D SYSTEMS, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 216 3D SYSTEMS, INC.: DEALS
11.2 OTHER PLAYERS
11.2.1 FUJI ELECTRIC CO., LTD.
TABLE 217 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW
11.2.2 HITACHI, LTD.
TABLE 218 HITACHI, LTD.: COMPANY OVERVIEW
11.2.3 KROHNE MESSTECHNIK GMBH
TABLE 219 KROHNE MESSTECHNIK GMBH: COMPANY OVERVIEW
11.2.4 AZBIL CORPORATION
TABLE 220 AZBIL CORPORATION: COMPANY OVERVIEW
11.2.5 VEGA GRIESHABER KG
TABLE 221 VEGA GRIESHABER KG: COMPANY OVERVIEW
11.2.6 DANFOSS
TABLE 222 DANFOSS: COMPANY OVERVIEW
11.2.7 KUKA AG
TABLE 223 KUKA AG: COMPANY OVERVIEW
11.3 OTHER SMALL AND MEDIUM-SIZED ENTERPRISES
11.3.1 TRIDITIVE
TABLE 224 TRIDITIVE: COMPANY OVERVIEW
11.3.2 ROBOZE
TABLE 225 ROBOZE: COMPANY OVERVIEW
11.3.3 SOFTGRIPPING GMBH
TABLE 226 SOFTGRIPPING GMBH: COMPANY OVERVIEW
11.3.4 ZIVID
TABLE 227 ZIVID: COMPANY OVERVIEW
11.3.5 ENERSIS SUISSE AG
TABLE 228 ENERSIS SUISSE AG: COMPANY OVERVIEW
11.3.6 INXPECT S.P.A.
TABLE 229 INXPECT S.P.A.: COMPANY OVERVIEW
11.3.7 INUITIVE
TABLE 230 INUITIVE: COMPANY OVERVIEW
11.3.8 EARTEX LTD (EAVE)
TABLE 231 EARTEX LTD (EAVE): COMPANY OVERVIEW
11.3.9 CANARIA TECHNOLOGIES
TABLE 232 CANARIA TECHNOLOGIES: COMPANY OVERVIEW
11.3.10 FUELICS
TABLE 233 FUELICS: COMPANY OVERVIEW
11.3.11 ULTIMAKER
TABLE 234 ULTIMAKER: COMPANY OVERVIEW
11.3.12 NANO DIMENSION
TABLE 235 NANO DIMENSION: COMPANY OVERVIEW
11.3.13 DEEP LEARNING ROBOTICS
TABLE 236 DEEP LEARNING ROBOTICS: COMPANY OVERVIEW
11.3.14 PICK-IT N.V.
TABLE 237 PICK-IT N.V.: COMPANY OVERVIEW
11.3.15 ONROBOT A/S
TABLE 238 ONROBOT A/S: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 ADJACENT & RELATED MARKETS
12.1 INTRODUCTION
12.2 LIMITATIONS
12.3 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE
12.3.1 INTRODUCTION
TABLE 239 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2019–2022 (USD MILLION)
TABLE 240 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2023–2028 (USD MILLION)
12.3.2 LARGE ENTERPRISES
12.3.2.1 Rapid deployment of blockchain technology in healthcare sector to drive market
TABLE 241 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 242 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION)
12.3.3 SMALL & MEDIUM ENTERPRISES (SMES)
12.3.3.1 Subscription-based digital twin services to boost segmental growth
TABLE 243 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION)
TABLE 244 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION)
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
