Stratview Research delivers key insights on the global Smart Factory Market. According to Stratview Research, the market is segmented By Product (Machine Vision Systems, Industrial Robotics, Control Devices, Sensors, Communication Technologies, Others), By Technology (Product Lifecycle Management (PLM), Human Machine Interface (HMI), Enterprise Resource and Planning (ERP), Manufacturing Execution System (MES), Distributed Control System (DCS), Supervisory Controller and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Others),, and Rest of the World [Brazil, Argentina, and Others]).

Market Insights

The report suggests that the overall Smart Factory Market was estimated to grow from USD 78.2 billion in 2020 to USD 147.0 billion by 2026 at a CAGR of over 11.3% during the forecast period.

Market Segments' Analysis

End Use Trends

The market has been classified into automotive, semiconductors, oil and gas, chemical and petrochemical, pharmaceutical, aerospace and defense, food and beverage, mining, and others. Under these, the food and beverage segment held a significant market share in 2020.

Regional Trends

The Asia Pacific held the highest market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to growing adoption of automation technologies across industries in China & India. 

Key Players

The following are some of the key players in the smart factory market:

• Honeywell International Inc. (US)
• Robert Bosch GmbH (Germany)
• Yokogawa Electric Corporation (Japan)
• Kuka AG (Germany)
• Mitsubishi Electric Corporation (Japan)

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

-          What is the global demand for smart factory market in terms of revenue?

-          Which are the prominent players in the market?

-          At what CAGR is the market projected to grow within the forecast period?

-          What are the driving factors fuelling the growth of the market?

-          Which region accounted for the largest share in the market?

-          How did the Covid19 impacted the market?

-          How long will it take to recover from the Covid impact?

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-          Attractive market segments and associated growth opportunities.

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Stratview Research is a leading global market research firm providing expert research solutions, trusted by clients worldwide. To keep our clients ahead of the curve, we provide data backed by extensive market research and in-depth industry knowledge. The broad spectrum of integrated insights is referred to, and cited by press releases, interview with key players, white papers, journals, etc. Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please connect with our team.

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