SAN FRANCISCO, June 8, 2021 /PRNewswire/ — A brand new market research printed by Global Industry Analysts Inc., (GIA) the premier market analysis firm, at this time launched its report titled “Smart Factory – Global Market Trajectory & Analytics”. The report presents recent views on alternatives and challenges in a considerably reworked publish COVID-19 market.
FACTS AT A GLANCE
Edition: 18; Released: January 2021
Executive Engagements: 120306
Companies: 209 – Players coated embody ABB Ltd.; Accenture Plc; Atos SE; ATS International B.V.; Autodesk Inc.; Bosch.IO GmbH; CENIT AG; Cisco Systems, Inc.; Dassault SystÃ¨mes; 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; Yokogawa Electric Corporation and Others.
Coverage: All main geographies and key segments
Segments: Type (Control Equipment & Software, Reporting & Analysis Software, Measurement Devices, Connectivity Solutions); End-Use (Automotive, Oil & Gas, Aerospace & Defense, Electronics, Industrial Equipment, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Latin America; Rest of World.
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Global Smart Factory Market to Reach $214.2 Billion by 2026
‘Smart Factory’ or ‘Smart Manufacturing’ or the ‘Factory of the Future’ is an idea that envisages creation of clever factories, the place the normal disparate manufacturing processes are linked to generate clever knowledge. In the sensible manufacturing mannequin, standalone manufacturing services can talk with different websites inside the manufacturing facility, and facilitate integration of current industrial infrastructure services with IoT and cloud computing. Growth within the international market is ready to be pushed by rising investments in automation methods and advances in manufacturing applied sciences to attain mass manufacturing and push total effectivity and productiveness. Enterprises within the industrial sector are implementing industrial robots, the Internet of Things (IoT), and linked gadgets for elevated visibility, real-time knowledge evaluation and predictive upkeep. In addition, rising demand for automated manufacturing platforms in industries like manufacturing, automotive, chemical and medical gadgets is predicted to propel market prospects. The COVID-19 pandemic has created a urgent want for manufacturing factories to make sure employee security whereas sustaining their operations. The disaster is fueling the adoption of vision-guided robots for lowering the danger of an infection to employees. The situation is predicted to immediate numerous factories to implement automated options and robotics for safeguarding their workers from the an infection threat.
Amid the COVID-19 disaster, the worldwide marketplace for Smart Factory estimated at US$140.4 Billion within the 12 months 2020, is projected to achieve a revised dimension of US$214.2 Billion by 2026, rising at a CAGR of seven.4% over the evaluation interval. Control Equipment & Software, one of many segments analyzed within the report, is projected to document a 7.5% CAGR and attain US$99.5 Billion by the tip of the evaluation interval. After a radical evaluation of the enterprise implications of the pandemic and its induced financial disaster, development within the Reporting & Analysis Software section is readjusted to a revised 8.7% CAGR for the following 7-year interval.
The U.S. Market is Estimated at $28.2 Billion in 2021, While China is Forecast to Reach $43.2 Billion by 2026
The Smart Factory market within the U.S. is estimated at US$28.2 Billion within the 12 months 2021. China, the world`s second largest economic system, is forecast to achieve a projected market dimension of US$43.2 Billion by the 12 months 2026 trailing a CAGR of 8.6% over the evaluation interval. Among the opposite noteworthy geographic markets are Japan and Canada, every forecast to develop at 6.2% and 5.8% respectively over the evaluation interval. Within Europe, Germany is forecast to develop at roughly 7.9% CAGR. North America area dominates market development owing to rising penetration of sensible provide chain and manufacturing applied sciences in a number of industries. Participants within the industrial sector throughout the area are clustering in direction of robotic and automated methods to spice up productiveness and effectivity of their manufacturing and warehousing models. In addition, main vehicle corporations reminiscent of Audi and BMW are embracing manufacturing facility automation applied sciences to speed up manufacturing cycles and obtain value financial savings. Growth within the Asia-Pacific area is slated to be pushed by rising investments by producers in sensible applied sciences. The regional market is sure to obtain a powerful push from an estimated spending of US$127.5 billion by Chinese manufacturing organizations in IoT in 2020.
Measurement Devices Segment to Reach $38.3 Billion by 2026
In the worldwide Measurement Devices section, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this section. These regional markets accounting for a mixed market dimension of US$20.1 Billion within the 12 months 2020 will attain a projected dimension of US$30.2 Billion by the shut of the evaluation interval. China will stay among the many quickest rising on this cluster of regional markets. Led by international locations reminiscent of Australia, India, and South Korea, the market in Asia-Pacific is forecast to achieve US$7.1 Billion by the 12 months 2026. More
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SOURCE Global Industry Analysts, Inc.