The global Smart Factory Market, forecasted in a report titled “Smart Factory Market by Technology,” witnessed a valuation of USD 152.0 billion in 2023 and is anticipated to achieve USD 247.0 billion by 2030, with a compound annual growth rate (CAGR) of 10.1% throughout the forecast period. Numerous factors contribute to the expansion of smart factories worldwide, including the increasing integration of enabling technologies in manufacturing processes. A significant driver is the rising adoption of industrial robots, particularly collaborative robots, within the manufacturing sector. Additionally, the continuous evolution of the Internet of Things (IoT) and connected enterprise solutions are playing pivotal roles. These advancements are coupled with a focus on large-scale production to meet the demands of a growing global population.
Key technologies fueling the smart factory landscape include Distributed Control System (DCS), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Enterprise Resource Planning (ERP), Supervisory Control and Data Acquisition (SCADA), Plant Asset Management (PAM), Human–Machine Interface (HMI), and Product Life Cycle Management (PLM). These technologies collectively contribute to enhancing operational efficiency, production quality, and overall agility in manufacturing processes.
The Smart Factory Market’s growth is further propelled by various components integral to its operation. These components include Sensors, Industrial Robots, Machine Vision Systems, and Industrial 3D Printing technologies. Their integration enables smart factories to optimize production processes, improve product quality, and facilitate seamless automation across industries.
In terms of applications, the Smart Factory Market spans across sectors such as Automotive, Aerospace & Defense, Food & Beverage, Electrical & Electronics, and Energy & Power. Each of these sectors benefits from the adoption of smart factory technologies, experiencing improved efficiency, reduced operational costs, and enhanced competitiveness in the global market.
In conclusion, the global Smart Factory Market continues to thrive, driven by a convergence of advanced technologies and a growing need for efficient, automated manufacturing solutions. With ongoing advancements in IoT, robotics, and connected systems, smart factories are poised to play a pivotal role in the future of manufacturing across diverse industries.
About VynZ Research:
VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. VynZ has a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.
Contact Us:
Address: H.O — 9591 Fontainebleau Blvd. 617 Miami Florida 33172 U.S.A
Phone: +91 9960 288 381
Toll Free:1 888 253 3960
Email: marketing@vynzresearch.com
Website: www.vynzresearch.com
No comments:
Post a Comment