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Smart Factory Market : A Look at the Industry's Growth Drivers and Challenges

 The latest study on the Smart Factory Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2020 - 2032 . The report is furnished with the latest scenario and growth outlook of the market with regard to the impact of the pandemic. The report considers 2017-2018 as historical years, 2019 as the base year, and 2020- 2032  as the forecast timeline. The report offers strategic recommendations to the key stakeholders and investors to help them ascertain maximum returns on their investments and formulate new strategic business plans.

The global Smart Factory Market will be worth USD 309.67 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing adoption of intelligent technologies across all major industries, including food & beverage, petrochemicals, mining, and manufacturing. Increasing demand for energy efficiency and technological advancements of the sensors is expected to drive the smart factory market's growth. The rising need to eliminate human & machine errors enhanced asset efficiency and production quality has increased the adoption of digitized supply chain management solutions. Assurance of labor wellness, improved operational efficiencies, enhanced efficiency of the manufacturing processes.

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Covid 19 impact analysis:

This report is the latest document encompassing the massive changes that took place in the Smart Factory market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Smart Factory market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments. However, the market is expected to regain momentum in the post-COVID-19 era. The report also offers an initial and future impact assessment of the pandemic on the Smart Factory industry. Hence, the vital COVID-19 insights offered by the report are expected to help organizations manage their businesses effectively in extreme economic uncertainties.

Major companies profiled in the market report include

ABB, General Electric, Siemens, Rockwell Automation, Honeywell International, Schneider Electric, Mitsubishi Electric, FANUC, Yokogawa Electric, and Emerson Electric, among others.

Research objectives:

The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.

Get access to the full description of the report @

https://www.emergenresearch.com/industry-report/smart-factory-market

Emergen Research has segmented the global Smart Factory Market on the basis of Component, Solution, Industry, and region:

Component Outlook (Revenue, USD Billion; 2017-2027)

·         Industrial Robotics (Articulated robots, Cylindrical robots, Cartesian robots, SCARA robots, Collaborative robots)

·         Industrial 3D printing

·         Sensors

·         Control Devices (Relays, switches, motors, and drives)

·         Industrial network (Wired networks, wireless networks, RFID systems)

·         Machine Vision (Cameras, Software, and Processor, Frame grabbers)

Solution Outlook (Revenue, USD Billion; 2017-2027)

·         Programmable Logic Controller (PLC)

·         Product Life Cycle Management (PLM)

·         Manufacturing Execution System (MES)

·         Distributed Control System (DCS)

·         Plant Asset Management (PAM)

·         Enterprise Resource Planning (ERP)

·         Supervisory Control and Data Acquisition (SCADA)

·         Human-Machine Interface (HMI)

Industry Outlook (Revenue, USD Billion; 2017-2027)

·         Process Industries (Oil & Gas, Food & Beverage, Power, Chemicals, Pharmaceuticals, Metals & Mining)

·         Discrete Industries (Semiconductor & Electronics, Aerospace & Defense, Automotive)

Regional Outlook:

The global Smart Factory market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Smart Factory market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements

Key Objectives of the Global Smart Factory Market Report:

·         Analysis and estimation of the Smart Factory market size and share for the projected period of 2020-2027

·         Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

·         Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Smart Factory market

·         Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

·       Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

 

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About Emergen Research :

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

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