The global Smart Factory Solutions market estimated at US$152.7 Billion in the year 2021 is now projected to grow at a CAGR of 7.43% and reach US$234.8 Billion by 2027.
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
North American smart factory solutions market is expected to grow significantly over the forecast period. This growth can be attributed to the rising expenditure on advanced manufacturing technologies by Canada and the U.S. Technical advances, availability of substitute of printing material, and reduced equipment costs have further fueled the adoption of the smart manufacturing concept. The region is witnessing a set of investment initiatives in the North American health, aerospace and defense, manufacturing, and automotive sectors that are projected to expand considerably in the future. United States contributed around 78% of the total North American smart factory solutions market and is estimated to have a market value of US$31.2 Billion in the year 2021.
Asia Pacific smart factory solutions market is anticipated to witness an upsurge owing to the vibrant ecosystem across countries such as Japan, India, Australia. SMEs are expected to drive the adoption of smart manufacturing solutions. However, large enterprises operating in discrete industries are projected to generate the highest revenue in the market. Growing adoption of disruptive technologies such as Industry 4.0, Artificial Intelligence, Augmented reality, Internet of Things (IoT), and others are driving the push towards cloud adoption across the region. China is expected to dominate the Asia-Pacific market and reach a market size of US$48.7 Billion by 2027.
Within Europe, France, Germany, and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 7.58% over the forecast period.
Key players profiled in the report include ABB Ltd.; Accenture Plc; Atos SE; ATS International B.V.; Autodesk Inc.; Bosch.IO GmbH; CENIT AG; Cisco Systems, Inc.; Dassault Systèmes; Emerson Electric Co.; FANUC Corporation; Fraunhofer IAO; General Electric Company; Honeywell International Inc.; Huawei Technologies Co., Ltd.; IBM Corporation; Infosys Ltd.; Intel Corporation; Johnson Controls International Plc; Keyence Corporation; KUKA AG; Microsoft Corporation; Mitsubishi Electric Corporation; OMRON Corporation Industrial Automation Company; Oracle Corporation; PTC, Inc.; Rockwell Automation, Inc.; SAP SE; Schneider Electric SE; Siemens AG; Siemens EDA; Telefonaktiebolaget L. M. Ericsson; Wipro Limited; WITTENSTEIN SE; YASKAWA Electric Corp.; Yaskawa Motoman and Yokogawa Electric Corporation, among others.
Research Methodology
