Smart Factory Market Worth USD 74.80 Billion by 2020 – Wide Adoption of IoT – Research and Markets

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Research and Markets has announced the addition of the “Smart Factory Market – Global Forecast to 2022” report to their offering.

The smart factory market size, in terms of value, is expected reach USD 74.80 billion by 2020, at a CAGR of 10.4% between 2016 and 2022. This market is driven by factors such as wide adoption of IOT and technological advancements in M2M communication in the industrial sector, along with the increasing focus on saving energy & improving process efficiency.

The discrete industry is expected to hold the largest share of the overall smart factory market during the forecast period. The smart factory market for the process industry market is expected to gain the maximum traction and grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing use of smart factory solutions in various verticals to minimize losses that occur due to the ineffective management of materials.

The smart factory market for the pharmaceuticals industry, which is a subsegment of the process industry, is expected to grow at the highest CAGR during the forecast period. In this industry, automation process is mostly used not only to reduce labor costs but also to improve experimental accuracy and workflow efficiency. The automotive industry held the largest share of the smart factory market for the discrete industry in 2015 and is expected to dominate the market till 2022.

The changing market dynamics has urged the need for smart manufacturing techniques as the real manufacturing world has begun converging with the digital manufacturing. With the increasing demand for smart factory in the process and discrete industries, the market for smart factory is expected to witness lots of growth opportunities 2022.

Companies Profiled:

• ABB Ltd.
• Atos SE
• Emerson Electric Company
• Fanuc Corp.
• Freescale Semiconductor, Ltd.
• General Electric Company
• Honeywell International, Inc.
• Johnson Controls, Inc.
• Kuka Aktiengesellschaft
• Robert Bosch GmbH
• Rockwell Automation, Inc.
• Schnieder Electric
• Siemens AG
• Yokogawa Electric Corp.

Report Structure:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Market By Technology

8 Market, By Component

9 Market By Industry

10 Market, By Geography

11 Competitive Landscape

12 Company Profiles

For more information visit http://www.researchandmarkets.com/research/cvzpzz/smart_factory

View source version on businesswire.com: http://www.businesswire.com/news/home/20160512006282/en/

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Sector: Industrial Automation