1 INTRODUCTION 20
1.1 STUDY OBJECTIVES 20
1.2 DEFINITION 20
1.3 SCOPE OF THE STUDY 21
1.3.1 MARKETS COVERED 21
1.3.2 GEOGRAPHIC SCOPE 21
1.3.3 YEARS CONSIDERED FOR THE STUDY 22
1.4 CURRENCY 22
1.5 LIMITATIONS 22
1.6 STAKEHOLDERS 23

2 RESEARCH METHODOLOGY 24
2.1 RESEARCH DATA 24
2.1.1 SECONDARY DATA 25
2.1.1.1 Major secondary sources 25
2.1.1.2 Secondary sources 26
2.1.2 PRIMARY DATA 27
2.1.2.1 Primary Resources 27
2.1.2.2 Breakdown of primaries 27
2.1.3 SECONDARY AND PRIMARY RESEARCH 28
2.2 MARKET SIZE ESTIMATION 28
2.2.1 BOTTOM-UP APPROACH 29
2.2.1.1 Approach to capture the market share using the bottom-up analysis (demand side) 29
2.2.2 TOP-DOWN APPROACH 29
2.2.2.1 Approach to capture the market share using the top-down analysis (supply side) 30
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 31
2.4 ASSUMPTIONS 32

3 EXECUTIVE SUMMARY 33

4 PREMIUM INSIGHTS 44
4.1 SMART FACTORY MARKET, 2019–2024 (USD BILLION) 44
4.2 SMART FACTORY MARKET, BY COMPONENT (2019–2024) 44
4.3 SMART FACTORY MARKET, 2019–2024 (USD BILLION) 45
4.4 SMART FACTORY MARKET, BY INDUSTRY AND TYPE 46
4.5 SMART FACTORY MARKET, PARTNERSHIPS 46


5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
5.2.1 DRIVERS 48
5.2.1.1 Growing demand for industrial robots 48
5.2.1.2 Industrial IoT (IIoT): Revolution to the industry 48
5.2.1.3 Importance of energy efficiency, resource optimization, and cost reduction 49
5.2.1.4 Increasing emphasis on real-time data analysis, enhanced visibility, and predictive maintenance 50
5.2.2 RESTRAINTS 51
5.2.2.1 Risk associated with security of cyber-physical system 51
5.2.2.2 Requirement of a significant amount of capital investments 51
5.2.3 OPPORTUNITIES 51
5.2.3.1 Lucrative opportunities for collaborative robots 51
5.2.3.2 Ongoing advancements in 3D printing technology 52
5.2.4 CHALLENGES 53
5.2.4.1 Interoperability between information technology (IT) and operational technology (OT) 53
5.2.4.2 Lack of awareness in small and medium-sized businesses 53
5.3 ENABLING TECHNOLOGIES OF SMART FACTORY ECOSYSTEM 54
5.3.1 ARTIFICIAL INTELLIGENCE 54
5.3.1.1 Importance of AI in smart factory 54
5.3.2 AUGMENTED REALITY (AR) 55
5.3.2.1 AR enhancing the smart manufacturing workforce 55
5.3.3 BIG DATA AND ANALYTICS 55
5.3.3.1 Big Data and Analytics: Crucial industrial communication 55
5.3.4 BLOCKCHAIN 55
5.3.4.1 Connecting blockchain and IoT 55
5.3.5 INDUSTRIAL CYBERSECURITY 56
5.3.5.1 Defense for smart manufacturing 56
5.3.6 5G 56
5.3.6.1 5G technology to drive smart factory market 57

6 SMART FACTORY MARKET, BY COMPONENT 58
6.1 INTRODUCTION 59
6.2 SENSORS 62
6.2.1 EVOLUTION OF SENSOR TECHNOLOGY EMPOWERING SMART FACTORY MARKET 62
6.3 INDUSTRIAL ROBOTS 65
6.3.1 TRADITIONAL INDUSTRIAL ROBOTS 67
6.3.1.1 Articulated robots 68
6.3.1.2 Cartesian Robots 68
6.3.1.3 Selective Compliance Assembly Robot Arm (SCARA) 68
6.3.1.4 Cylindrical Robots 69
6.3.1.5 Other robots 69
6.3.2 COLLABORATIVE ROBOTS 69
6.3.2.1 Collaborative Robots being most emerging among all the types of industrial robots 69
6.4 INDUSTRIAL 3D PRINTING 69
6.4.1 EVOLUTION OF INDUSTRIAL 3D PRINTING TO DRIVE SMART FACTORY MARKET 70
6.5 MACHINE VISION 72
6.5.1 CAMERA 75
6.5.1.1 Digital Camera 75
6.5.1.2 Smart Camera 75
6.5.2 FRAME GRABBERS, OPTICS, AND LED LIGHTING 76
6.5.2.1 Increasing demand of LED and laser lighting 76
6.5.3 PROCESSOR AND SOFTWARE 76
6.5.3.1 Processor and software being important part of machine vision system 76

7 SMART FACTORY MARKET, BY TECHNOLOGY 77
7.1 INTRODUCTION 78
7.2 PRODUCT LIFE CYCLE MANAGEMENT (PLM) 81
7.2.1 GLOBAL DEMAND FOR EFFICIENCY AND PRODUCTIVITY IN MANUFACTURING PLANTS 81
7.3 MANUFACTURING EXECUTION SYSTEM (MES) 83
7.3.1 INCREASING ADOPTION OF MANUFACTURING EXECUTION SYSTEM (MES) TO OFFER GROWING BENEFITS TO PROCESS AND DISCRETE INDUSTRIES 84
7.4 PROGRAMMABLE LOGIC CONTROLLER (PLC) 86
7.4.1 GROWING DEMAND FOR MICRO AND NANO PLCS IN SMART FACTORY MARKET 86
7.5 SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA) 88
7.5.1 SHIFT TOWARD THE DEVELOPMENT OF SCADA APP FOR SMARTPHONES TO UPLIFT THE SMART FACTORY MARKET GROWTH 88
7.6 ENTERPRISE RESOURCE PLANNING (ERP) 90
7.6.1 POTENTIAL OF INTEGRATING CRITICAL BUSINESS INFORMATION ACROSS AN ORGANIZATION DRIVES THE ADOPTION OF ERP SOLUTIONS IN SMART FACTORIES 90
7.7 DISTRIBUTED CONTROL SYSTEM (DCS) 92
7.7.1 EXPANDING INDUSTRIAL INFRASTRUCTURE IN DEVELOPING REGIONS 92
7.8 HUMAN–MACHINE INTERFACE (HMI) 94
7.8.1 EVOLUTION OF INDUSTRIAL INTERNET OF THINGS (IIOT) LEADING TO ADOPTION OF HMI 94
7.9 PLANT ASSET MANAGEMENT (PAM) 96
7.9.1 PAM TO PREDICT FAILURE IN ADVANCE TO AVOID FUTURE LOSS 97
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8 SMART FACTORY MARKET, BY INDUSTRY 98
8.1 INTRODUCTION 99
8.2 PROCESS INDUSTRY 100
8.2.1 OIL AND GAS 102
8.2.1.1 Increase in demand for remote monitoring solutions due to the growing number of drilling operations in remote offshore locations 102
8.2.2 CHEMICALS 102
8.2.2.1 Growth of smart factory market due to increasing automation in the chemicals industry 103
8.2.3 PULP AND PAPER 103
8.2.3.1 Raising adoption of digitalization in the paper manufacturing to drive smart manufacturing process 103
8.2.4 PHARMACEUTICALS 103
8.2.4.1 Increasing implementation of automated processes to ensure the sophisticated manufacturing process 104
8.2.5 METALS AND MINING 104
8.2.5.1 Rise in demand for predictive maintenance encourages adoption of smart factory solutions 104
8.2.6 FOOD AND BEVERAGES 104
8.2.6.1 Rapid technological development in the industry leading to the growth of the smart factory market 105
8.2.7 ENERGY AND POWER 105
8.2.7.1 Increasing demand for advanced monitoring solutions drives the demand for smart technologies 105
8.2.8 OTHERS 106
8.2.8.1 Growing demand for the process control solutions due to the increasing significance of product quality and production efficiency 106
8.2.8.2 Technological development leading to the adoption of automation solutions in water treatment plants 106
8.3 DISCRETE INDUSTRY 106
8.3.1 AUTOMOTIVE 108
8.3.1.1 Increasing investment by key automotive manufactures for the deployment of smart factory 108
8.3.2 AEROSPACE AND DEFENSE 108
8.3.2.1 High equipment cost encourages the adoption of smart factory solutions to ensure proper functioning of the equipment 108
8.3.3 SEMICONDUCTOR AND ELECTRONICS 109
8.3.3.1 Continuous advancements in the industry encourage the adoption of smart factory solutions to enhance the productivity 109
8.3.4 MACHINE MANUFACTURING 109
8.3.4.1 Increasing need for predictive maintenance to grow the smart factory market 109
8.3.5 MEDICAL DEVICES 109
8.3.5.1 Adoption of smart factory solutions enabling higher efficiency in manufacturing processes 110
8.3.6 OTHERS 110
9 SMART FACTORY MARKET, BY GEOGRAPHY 111
9.1 INTRODUCTION 112
9.2 NORTH AMERICA 114
9.2.1 US 114
9.2.1.1 New product launches by key players and consequent increase in investment by end users to empower the smart factory market growth in the US 115
9.2.2 CANADA 115
9.2.2.1 Increasing government support for the adoption of advanced manufacturing technologies to encourage smart factory market 116
9.2.3 MEXICO 116
9.2.3.1 Increasing investment and expansion by global market players to boost the growth of the smart factory market 116
9.3 EUROPE 117
9.3.1 UK 118
9.3.1.1 Government support for the development of IoT technology to boost the growth of the smart factory market 119
9.3.2 GERMANY 119
9.3.2.1 Comprehensive R&D programs by the government to boost Industry 4.0 119
9.3.3 FRANCE 119
9.3.3.1 Government initiatives and support to fuel the growth of the smart factory market in France 119
9.3.4 ITALY 120
9.3.4.1 Italy being one of the major market for smart factory solutions 120
9.3.5 REST OF EUROPE 120
9.4 APAC 121
9.4.1 CHINA 122
9.4.1.1 Increasing labor costs in the country leading to the adoption of advanced automation solutions 123
9.4.2 JAPAN 123
9.4.2.1 Ongoing developments in smart manufacturing processes in the country to boost the market growth 124
9.4.3 SOUTH KOREA 124
9.4.3.1 Increasing investment by government encourages the growth of the smart factory market 124
9.4.4 INDIA 124
9.4.4.1 Make in India campaign to encourage the manufacturing industry of the country 124
9.4.5 REST OF APAC 125
9.5 REST OF THE WORLD (ROW) 125
9.5.1 SOUTH AMERICA 126
9.5.1.1 Increasing recognition of smart factory solutions in Brazil 126
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9.5.2 MIDDLE EAST & AFRICA 126
9.5.2.1 Increase in smart factory market growth in the Middle East due to high adoption of advanced manufacturing solutions in the oil and gas industry 126
9.5.2.2 Digitalization of the mining operations to propel the growth of the smart factory market in Africa 126

10 COMPETITIVE LANDSCAPE 127
10.1 OVERVIEW 127
10.2 COMPETITIVE ANALYSIS 127
10.2.1 MARKET RANKING ANALYSIS: SMART FACTORY MARKET, 2017 127
10.2.2 FINANCIAL AND OPERATIONAL PERFORMANCE BENCHMARKING FOR SELECT COMPANIES IN SMART FACTORY MARKET 129
10.3 COMPETITIVE LEADERSHIP MAPPING, 2018 131
10.3.1 VANGUARDS 131
10.3.2 DYNAMIC DIFFERENTIATORS 131
10.3.3 INNOVATORS 131
10.3.4 EMERGING COMPANIES 131
10.4 COMPETITIVE SITUATION AND TRENDS 133
10.4.1 AGREEMENTS, CONTRACTS, JOINT VENTURES, COLLABORATIONS & PARTNERSHIPS 133
10.4.2 PRODUCT LAUNCHES AND DEVELOPMENTS 135
10.4.3 ACQUISITIONS AND EXPANSIONS 137

11 COMPANY PROFILES 138
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1 KEY PLAYERS 138
11.1.1 SIEMENS 138
11.1.2 GENERAL ELECTRIC 142
11.1.3 ABB 145
11.1.4 ROCKWELL AUTOMATION 149
11.1.5 SCHNEIDER ELECTRIC 153
11.1.6 HONEYWELL 157
11.1.7 FANUC 160
11.1.8 MITSUBISHI ELECTRIC 163
11.1.9 EMERSON ELECTRIC 165
11.1.10 YOKOGAWA ELECTRIC 168
11.1.11 ROBERT BOSCH 172
11.1.12 STRATASYS 174
11.2 OTHER PLAYERS 177
11.2.1 TE CONNECTIVITY 177
11.2.2 TEXAS INSTRUMENTS 177
11.2.3 HP 178
11.2.4 KUKA 178
11.2.5 SAP 179
11.2.6 OMRON 179
11.2.7 DASSAULT SYSTEMES 180
11.2.8 QUALCOMM 180
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

12 APPENDIX 181
12.1 INSIGHTS OF INDUSTRY EXPERTS 181
12.2 DISCUSSION GUIDE 182
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 185
12.4 AVAILABLE CUSTOMIZATIONS 187
12.5 RELATED REPORTS 187
12.6 AUTHOR DETAILS 188