San Francisco, California, February 28, 2018 – The global smart factory market is prognosticated in a report by TMR Research to come under the spotlight with the propelling need for precise and efficient ways to operate manufacturing units. Bearing the title “Smart Factory Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” the report foresees the market to gain prominence with a rising adoption of industrial robots in the manufacturing industry. Modern-day manufacturing plants are observed to allow uninterrupted automated manufacturing with the incorporation of advanced machine communication technology, IoT, and industrial robotic systems.
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In the near future, the world smart factory market is projected to attain demand because of the advantage of improved output and its impact on the nation’s economy. Moreover, governments are surveyed to provide the required support to the market. The market could gain strength in its growth with the steady progress of industrial robotics on the technological front and swelling demand for industrial robots. Some of the significant qualities of industrial robots that differs them from human workers are their lower error rate and higher precision. Organizations could achieve a telling cost benefit with the large-scale implementation of industrial robots as they are capable of improving the productivity of manufacturing units.
The rapidly growing automotive industry is prophesied to lay great influence on the growth of the world smart factory market as it could continue to be a prime consumer in the future years. It could witness the popularity of industrial robotics and other smart factory solutions owing to the swelling requirement of extremely precise engineering in automotive design. In the coming years, Eastern and Southeastern Asia testifying of the rise of the automotive industry could play a vital part in the growth of the market. Increasing disposable income of consumers helping the automotive industry to improve its growth could be another factor of great influence on the market.
Asia Pacific is foretold to hold a lion’s share of the international smart factory market. This could be because of the dominance of emerging economies such as South Korea and other countries, viz. India, Taiwan, Japan, and China receiving a steady government support. The regional market could also gain growth while riding on the aggressive pace of urbanization witnessed in these dynamic nations. South Korea had previously set the target of operating 10,000 smart factories by the end of 2020. However, in April 2017, it increased the target to 30,000 to be completed by 2025. The country has exhibited its determination to be at the forefront of the industrial sector, which has helped it to stay ahead in the adoption of automation and digital technologies.
Mutually beneficial associations with technology firms has helped companies to lead the international smart factory market. Kuka-Huawei and Fanuc-Cisco are anticipated to be in the driver’s seat of the market. The recent collaboration of ABB and IBM could also impact the development of the market in the foreseeable future. Yet, there could be other companies taking a prominent position in the market, viz. Mitsubishi Electric Corporation, Schneider Electric SE, Atos SE, General Electric Co., and Emerson Electric Co.
The report offers a detailed overview of the competitive landscape and provides an important profiling of key companies functioning in the international smart factory market. On the whole, it could act as a guiding light for players to plan powerful strategies and claim a strong position in the market.