Smart Factory Market With (Covid-19) Impact Analysis 2027
Smart factories have gained huge traction in the past couple of years owing to the increasing adoption of intelligence technologies in various industries including energy, mining, manufacturing, and petrochemicals. Increasing use of high-tech tools and high-tech machinery portrays a beautiful combination of manufacturing and technological developments. Another significant factor driving growth in the global smart factory market is the industrial shift towards cyber world. In this, every component of value chain likely to be connected to ensure informed manufacturing with zero defects and no-time lags that will further augments demand in this market.
Global Smart Factory Market: Notable Developments
General Electronic and Siemens are two eminent players in the global smart factory market. The former provides industrial automation solutions on different process and discrete industries and latter holds majority in the smart factory market.
- Schneider Electric collaborating with Temasek, collectively entered an agreement to buy Larsen & Toubro’s Electrical & Automation business. They will then collaborate it with its Low Voltage & Industrial Automation Products business situated in India. This agreement will help both the companies to strengthen their position in this region.
- IBM partnered with ABB for industrial artificial intelligence solutions. IBM Watson Internet of Things (IoT) and ABB Ability is a potent automation combination that will help in improving the production lines by recognizing critical faults over manufacturing process.
Several other players are also making significant efforts in expanding the global smart factory market by using different strategies and techniques. Some of the leading players include Schneider Electric, ABB, FANUC, Emerson Electric, General Electric, Yokogawa Electric, Honeywell International, Rockwell Automation, Mitsubishi Electric, Siemens, and Robert Bosch.
Request For Covid19 Impact Analysis Across Industries And Markets @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=64209
Global Smart Factory Market: Trends and Opportunities
Among the recent trends seen in the global smart factory market, includes development of Manufacturing Execution Systems (MES), data models for rapid usage, and factory-specific templates. Moreover, increasing industries of refurbished robots coupled with untapped fields such as industrial robots and RFID are projected to create lucrative growth opportunities in the global smart factory market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
