The smart factory market has witnessed strong growth in recent years, with an increase from $82.07 billion in 2024 to an anticipated $89.56 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. This growth in the historic period can be attributed to the adoption of Industry 4.0 and digital transformation strategies, popular use of data analytics and big data, as well as developments in automation and robotics, cyber-physical systems, cloud computing, and edge computing. Meanwhile, the smart factory market size is predicted to grow to $144.69 billion in 2029 at a CAGR of 12.7%. This forecasted growth can be partly attributed to supportive government policies and regulatory initiatives, an increased focus on sustainability, resilient supply chain and advanced visibility, flexible manufacturing solutions, and a stronger emphasis on cybersecurity.
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What Factors are Fueling the Growth of the Smart Factory Market?
The rising demand for industrial robots is set to drive the growth of the smart factory market forward. Industrial robots are mechanical devices programmed to automatically perform tasks related to production in industrial environments. Smart factories focus on optimizing and automating their resources, deploying tools such as information technologies, smart sensors, robotics, the Internet of Things, and artificial intelligence. According to the Germany-based International Federation of Robotics, there was a surge in industrial robot installations with a global count of operational robots reaching a new high of 3.9 million in 2022. It is concluded that the increasing demand for industrial robots is stimulating the smart factory market growth.
What are the Primary Segments in the Smart Factory Market?
The smart factory market coverage in this report includes:
1) By Product: Machine Vision Systems, Industrial Robotics, Control Devices, Sensors Communication Technologies, Other Products
2) By Component: Smart Factory Hardware, Smart Factory Software, Smart Factory Services
3) By Industry Vertical: Automotive, Aerospace And Defense, Electrical And Electronics, Food And Beverages, Energy And Utilities, Healthcare And Pharmaceuticals, Other Industry Verticals
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Which Companies are Leading the Smart Factory Market?
Key players operating in the smart factory market include ABB Ltd., Emerson Electric Co., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Mitsubishi Electric Corporation, Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., Cisco Systems Inc., Dassault Systèmes SE, Endress+Hauser AG, Kollmorgen Corp., Kuka AG, Omron Corporation, Oracle Corporation, Microsoft Corporation, PTC Inc., SAP SE, Hitachi Ltd., Amazon.com Inc., Fanuc Corporation, Cognex Corporation, FLIR Systems Inc., CoreTigo Ltd., Airbus Group Inc., Cellares Corp.
What Trends are Influencing the Smart Factory Market?
Advancements in technology are a key trend gaining popularity in the smart factory market. Companies in the smart factory sector harness the power of these advancements to optimize the production process and achieve higher levels of efficiency. For instance, in July 2024, Hexagon AB, a Sweden-based industrial technology company, launched its Digital Factory solution enabling manufacturers to create precise digital replicas of factories and thereby enhance production and efficiency.
Which Region is Seeing Rapid Growth in the Smart Factory Market?
Asia-Pacific claimed the title of the largest region in the smart factory market in 2024 and is also anticipated to be the fastest-growing region in the forecast period, boosted by a surge in transformative digital practices and initiatives.
What Does The Smart Factory Market Report 2025 Offer?
Smart factories are settings where physical production processes and operations fuse with digital technology, smart computing, and big data. This results in an opportunistic environment for manufacturing companies that focus on automation and supply chain management. The Smart Factory Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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