A new market study, titled “Discover Global Smart Factory Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
The report provides global Global Smart Factory Market information related to its business and services with the help of an exclusive blend of quantitative forecasting and trends analysis. The report further puts forward-looking insights that include thousands of decision-makers, key market players, which are carried out based on various objectives of the market. The fundamental dynamics of the Global Smart Factory Market is based on a veteran team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques. The market report also represents the latest and the most reliable information indispensable for businesses to sustain a competitive edge. The detailed statistical models hereby, offer insights into a robust Global Smart Factory Market. The study of the market has been taken place during the year 2019, which stretches over till 2026.
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Key Players
Leading cloud service providers like Amazon AWS, Microsoft Azure Google cloud platform, and IBM cloud operate from the US and contribute significantly to the growth of cloud services in the North American region. The report covers the list of major companies as well as the emerging players operating in the Global Smart Factory Market. This signifies the ongoing trends of the market in the manufacturing landscape, and therefore, the market is meticulously analyzed over its competitive scenario on a global level.
Drivers & Constraints
The report provides a comprehensive analysis of the Global Smart Factory Market about its drivers and constraints. It covers the sales volume, price, revenue, gross margin, historical growth, and future perspectives in the Global Smart Factory Market. These factors also present opportunities and challenges, risks, barriers in order to gain a more in-depth understanding of the market.
Smart factories employ the principles of cyber–physical technology, Internet of Things, and cloud computing technologies. The smart factory provides advanced and automated facilities to make manufacturing process faster, more efficient, and safer. This is helping to minimize the gap between digital world and traditional industrial manufacturing methods.
Smart Factory Market Segment Analysis
Based on the end user industry, the market is segmented as Chemical Industry, Oil and Gas Industry, Aerospace industry, Automotive industry, Mining industry, others (defence, consumer electronics). The Oil and gas industry are expected to drive the global smart factory market at a higher rate owing to the increasing demand for automation in oil and gas industry and high global production of oil and gas. According to the International Energy Agency (IEA), the global oil demand in 2018 is 6.9mb/d and is expected to reach 104.7mb/d by 2023 rising at an average annual rate of 1.2mb/d. The global oil production as per the Global energy statistical yearbook in 2005 was about 88721 thousand barrels per day and reached 92649 thousand barrels in 2017 with a 0.7% annual growth rate. Automation and Instrumentation services in Digital oilfields include SCADA (Supervisory control and data acquisition), smart well sensors, wireless sensors, distributed control systems and other components which are widely used to monitor industrial operations and real-time process data. These components are crucial for driving the market, and the oil and gas industry is expected to dominate the global smart factory market in the future
Regional Description
The outlook of the Global Smart Factory Market results on a regional level, thus covering major regions of North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The various contributors involved in the value chain of the Global Smart Factory Market include manufacturers, suppliers, distributors, intermediaries, and customers.
Method of Research
This Global Smart Factory Market report includes the estimation of market size for value and volume. The complete analysis includes both top-down and bottom-up approaches that are used to estimate and validate the market size of the market. This is to determine the size of various other dependent submarkets in the overall market. The key players in the market have been acknowledged through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares split, and breakdowns have been determined using secondary sources and verified primary sources.
Smart factory technologies are integrated with Product Life-cycle Management (PLM), Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) to optimize production costs and resources, improve productivity and meet the standards of quality. The conventional model is now being replaced with numerous systems harmoniously linked together. Integrating all these components into one single entity is posing a significant challenge for most of the manufacturers adopting smart factory solutions which might impede the growth of this market.
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Major Key Points of Global Smart Factory Market
- Global Smart Factory Market Methodology and Scope
- Global Smart Factory Market – Market Definition and Overview
- Global Smart Factory Market – Executive Summary
- Global Smart Factory Market – Market Dynamics
- Global Smart Factory Market – Industry Analysis
- Global Smart Factory Market – by product type
- Global Smart Factory Market – By technology
- Global Smart Factory Market – By end user
- Global Smart Factory Market – By Region
- Global Smart Factory Market – Competitive Landscape
- Company Profiles
- Global Smart Factory Market – Premium Insights
- Global Smart Factory Market – DataM
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