North America Smart Factory Market: Global Industry Overview By Size, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2023

Posted on Dec 14 2021 7:46 AM

"North America Smart Factory Market Report objective of this study is to identify the market opportunities and estimate market size by segments and countries for last few years and to forecast the values to the next years. The report incorporates both the qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. "

Global North America Smart Factory Market provides deep Information by vendors, including company overview, company total revenue (financials), market potential, global presence, North America Smart Factory sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. this study provides the North America Smart Factory sales, revenue and market share for each player covered in this report. North America Smart Factory market is split by Type and by Application. The growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

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North America Smart Factory Market report features basic market situations, Product limit, consumption volume, and limit applications. Moreover, the report illuminates the SWOT analysis that should be done by the customers so as to know the Strength, Weaknesses, Opportunities, and Threats of the North America Smart Factory industry. It likewise centers around venture practicability investigation, speculation return analysis and different ways to deal with the addition a considerable position in the North America Smart Factory Market.The North America Smart Factory Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments.

The report focuses on regional development status, which includes the market size, share, and volume. The North America Smart Factory Market report presents some of the key data, which would help the stakeholders in the industry besides the analysts and business decision makers. Production, consumption, cost, gross margin, revenue, market share and factors influencing market and CAGR has found its place in the report.

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In 2017, the smart factory market was valued at USD 63.66 billion and is expected to reach a value of USD 104.6 billion by 2023, registering a CAGR of 8.63% during 2018-2023 (the forecast period).

Smart factory refers to various fully-integrated automation solutions adopted for manufacturing facilities. This integration helps streamline the material flow during all the processes involved in the manufacturing, thus, enabling effective movement of materials across the factory floor. Combining the digital and physical worlds has revolutionized the automation industry, thus, enabling optimum performance. Several manufacturing companies are now capable of achieving zero-waste production and shorter time to market. Effortless monitoring, reduction of waste, and speed of production are some of the major advantages of the automated manufacturing processes. This factor is pushing industries around the world to deploy smart factory initiatives, in order to improve the performance and efficiency.

Growing Adoption of Internet of Things (IoT) to Escalate the Demand

Internet of things has become a key part of the modern production establishments and factories. It is impossible to imagine a modern manufacturing environment that does not have internet access, a local network, or a few sensors or devices connected to that network. Big size plants, like oil refineries and metal casting establishments, have hundreds of sensors. The sensors feed useful data to the local servers, which are helpful for the management to monitor and regulate the day-to-day production activities. This situation in the industrial sector brought a new concept of Industrial-IoT (IIoT).

According Ed Schuster, a prominent researcher at MIT, “The Industrial Internet of Things seeks to improve manufacturing and supply chain efficiency via data, information, mathematical modeling, and greater coordination. The components of the Industrial Internet include: a) machine learning, b) big data, c) Internet of Things, and machine-to-machine communicationâ€. With the formation of Industrial Internet Consortium, the speed of adoption of these technologies is expected to reach its full potential in the next four years, leading to rapid industrial automation and hence driving the growth of smart factories.
The Pharmaceutical Industry to be the Key Source of Demand in the Future

All pharmaceutical companies are concentrating on maintaining flawless processes and to be certified by government agencies, by complying with the standards of various health-related international organizations. The pharmaceutical manufacturing industry is equally divided into factory and discrete operations. Automation systems are applicable in the primary manufacturing of API (Active Pharmaceutical Ingredients). Both factory and discrete automation are applicable for secondary manufacturing of formulation and packaging, which includes compounding, filling, washing, labeling, and packaging.

Smart factory enables companies to improve the design and manage their manufacturing process. It also ensures quality control and inspections in the pharmaceutical industry. Technologies, like Machine Vision and Robotics, are one of the rapidly increasing smart factory equipment in the pharmaceutical factories, in order to avoid human contact and maintain the quality of the end product. With stricter government regulations, all over the globe, in the healthcare industry, the pharmaceutical factories are expected to turn toward smart factories in the near future.

Key Developments

November 2017 - Siemens expanded its Simatic S7-1500 Advanced Controller portfolio for more challenging applications, in order to include a new type of multifunctional platform that combines control and PC functions in a single device. Two new technology CPUs also broadened the portfolio for midrange Motion Control tasks.
November 2017 - Schneider Electric launched a new service that is designed to help industrial manufacturers modernize their programmable logic control (PLC) systems, safely. By reducing downtime and disruption to the operation, the service may provide an easier migration to the company’s Modicon M580 programmable automation controllers.
September 2017 - ABB acquired GE Industrial Solutions, to strengthen its global position in electrification. This acquisition has expanded ABB’s access to the North American market, through deep customer relationships, large installed base, and extensive distribution networks.

Reasons to Purchase this Report

The growing rate of adoption of IoT acting as a driver to the global market scenario
Various perspectives of the market, with the help of Porter’s five forces analysis
Solutions and type of automation expected to dominate the market
Regions expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

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Covered in this report

The Report Covers the Present Scenario and the Growth Prospects of the Global North America Smart Factory Market for 2021-2023. To calculate the market size, the report considers new installations or sales and subscription payments of North America Smart Factory.

Regional Market Analysis:

The North America Smart Factory Market report includes Global & Regional market status and outlook 2021-2023. Further, the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Global North America Smart Factory Market 2021-2023, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Market Trend

  • Growing research activities coupled with new product launches.

Market Driver

  • High Opportunity in the Industry

Market Challenge

  • Complications associated with North America Smart Factory procedures.

Some Major Points from Toc :-

1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific India China Japan South Korea Rest of Asia-Pacific
6.2.2 North America United States Canada Mexico Rest of North America
6.2.3 Europe Germany United Kingdom France Italy Austria Rest of Europe
6.2.4 South America Brazil Argentina Rest of South America
6.2.5 Middle East & Africa UAE South Africa Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
10. Disclaimer

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