According to the MarkNtel Advisors research report, “Global Smart Factory and Manufacturing Market Analysis, 2021,” the market is likely to grow at a CAGR of 9.7% in the forecast period of 2021-26. The factors propelling the market growth at such a pace include the evolution of the Internet of Things, the rising use of technologies in manufacturing industries, expanding adoption of automated robots in the industrial sector, and the mass production of facilities to fulfill the needs of the mounting population.
Impact of COVID-19
The COVID-19 outbreak triggered the Global Smart Factory and Manufacturing Market severely in many ways. The pandemic made the governments worldwide impose the lockdown phase, resulting in the shutdown of manufacturing units, thereby restricting trade flow. Besides, after the gradual upliftment of restrictions, they had to start from the beginning, adapting improvised production techniques, digital transformation, and various Smart manufacturing practices to get along with the new normal. In this tight situation, the companies continue to implement multiple new and flexible approaches to observe the product supply and ensure quality checks. Hence, with these aspects, the market is reviving and is likely to regain its pace in the forecast years.

Market Segmentation
Manufacturing Execution System to Witness the Fastest Market Growth
Based on the Application, the Manufacturing Execution System (MES) is likely to amplify at a firm speed in the coming period, owing to the rapidly growing demand for unifying business data & monitoring multi-plant services with the help of real-time data interpretation. Moreover, the increasing demand from small and medium-sized enterprises for other industrial segments is another crucial factor supporting the market growth.
Industrial Internet of Things to Witness Exponential Growth in The Forecast Period
Amongst various technologies, the Industrial Internet of Things (IIOT) segment is likely to witness exponential market growth in the coming years. The factors contributing to the segment growth are the extensive adoption of advanced solutions by manufacturers to intensify quality, operational excellence, visibility, and reduce the data process time.
Moreover, the increasing usage of smart factories in numerous industries is surging the demand & supply chains, causing cost reduction and extended reachability, thereby fueling the overall market growth, states MarkNtel Advisors in their research report, “Global Smart Factory and Manufacturing Market Analysis, 2021.”
Regional Landscape
Asia-Pacific Is Likely to Witness Robust Market Growth
The Asia-Pacific market is likely to witness the fastest growth in the Global Smart Factory and Manufacturing Market in the forecast period of 2021-26. The robust market growth is primarily due to the rapid advancements, technological developments, and the increasing adoption of automotive technology across different industries. Furthermore, the burgeoning demand for manufacturing & supply shall also propel the market growth. Therefore, based on these aspects, the APAC region shall fuel the overall market growth in the coming years.
Market Drivers
The growing investments in automation (in electrical & electronics, automotive, metals & machinery industries), miniaturization of sensors, and the expanding demand for industrial robotics systems across many countries are the most prominent factors likely to exponentially drive the Global Smart Factory and Manufacturing Market growth in the forecast period. Moreover, the surging demand for industrial sensors is another critical aspect that shall further boost the market in the coming years.
According to MarkNtel Advisors, the major leading players in the Global Smart Factory and Manufacturing Market are IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle, etc.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Smart Factory and Manufacturing Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Smart Factory and Manufacturing Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Smart Factory and Manufacturing Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Smart Factory and Manufacturing Market study?
Market Outlook, Segmentation, and Statistics
1. Impact of COVID-19 on the Global Smart Factory and Manufacturing Market
2. Market Size & Analysis
a. By Revenue
3. Market Share & Analysis
a. By Technology
i. AI (Artificial Intelligence)
ii. IIOT (Industrial Internet of Things) cloud-based
iii. Blockchain
iv. Others
b. By Application
i. Manufacturing
ii. Logistics & Transportation
iii. Retail
iv. Storage
v. Maintenance
vi. Protection from Cybercrime
vii. Construction
viii. Quality Control
ix. Others
c. By Software
i. SCADA
ii. HMI
iii. PLC
iv. DCS
v. Others
d. By Component
i. Sensors
1. Smart Infrared Cameras
2. 3D sensors
3. Others
ii. Controllers
1. Software Controllers
2. Drive Controllers
3. Heating Controllers
4. Others
iii. Industrial Robots
1. Traditional Robots
a. Articulated Robots
b. Cartesian Robots
c. Selective Compliance Assembly Robot Arm (SCARA)
d. Cylindrical Robots
e. Other Robots
2. Collaborative Robots
iv. Others
e. By Region
i. North America Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
1. The US Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
2. Canada Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
ii. South America Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
1. Brazil Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
iii. Europe Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
1. The UK Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
2. Germany Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
3. France Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
iv. Asia-Pacific Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
1. China Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
2. South Korea Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
3. Japan Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
v. Middle East & Africa Smart Factory and Manufacturing Market Outlook, 2016-2026F (USD Million)
f. By Competitors
i. Competition Characteristics
ii. Market Share & Analysis
iii. Competitive Metrix
4. Global Smart Factory and Manufacturing Market Hotspots & Opportunities
5. Global Smart Factory and Manufacturing Market Regulations & Policy
6. Key Strategic Imperatives for Success and Growth
7. Global Competition Outlook
a. Competition Matrix
b. Company Profile