出版：MarketsandMarkets（マーケッツアンドマーケッツ） 出版年月：2024年3月
Smart Factory Market – Global Forecast To 2029
スマートファクトリー市場 : コンポーネント (産業用センサー、産業用ロボット、産業用3D プリンター、マシンビジョンシステム)、ソリューション (SCADA、製造実行システム、産業安全、PAM)、業界と地域別 – 2029年までの世界予測
Smart Factory Market by Component (Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems), Solution (SCADA, Manufacturing Execution System, Industrial Safety, PAM), Industry and Region – Global Forecast to 2029
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| 種別 | 英文調査報告書 |
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Report Overview
The global Smart factory market is expected to grow from USD 100.6 billion in 2024 to USD 164.0 billion by 2029, registering a CAGR of 10.3%.
世界のスマートファクトリー市場は、2024年の1,006億米ドルから2029年までに1,640億米ドルに成長し、10.3%のCAGRを記録すると予想されています。
The global smart factory market is experiencing significant growth, driven by the increasing adoption of Industry 4.0 technologies. With a focus on automation, data exchange, and real-time analytics, smart factories enhance manufacturing efficiency and flexibility. Factors such as the rising demand for intelligent manufacturing, advancements in IoT and AI, and the pursuit of operational excellence contribute to the market’s expansion. The integration of smart technologies acrosss industries propels the market forward, creating new opportunities for manufacturers to optimize processes and improve overall productivity on a global scale.
“Industrial 3D Printing segment to grow at highest CAGR in smart factory market.”
The Industrial 3D printing segment is experiencing robust growth in the market. The Industrial 3D printing sector is experiencing rapid growth within the smart factory market. Its integration enhances manufacturing efficiency, reduces production costs, and allows for complex, customized designs. As smart factories continue to evolve, the adoption of Industrial 3D printing is expected to surge, driving innovation, flexibility, and scalability in modern manufacturing processes. This transformative technology is poised to revolutionize the industrial landscape by fostering agile and intelligent production ecosystems.
“Manufacturing Execution System (MES) segment accounted for the largest share of the Smart factory market in 2023.”
Manufacturing Execution System (MES) is experiencing robust growth in the smart factory market. As industries increasingly embrace Industry 4.0, MES plays a pivotal role in optimizing production processes, enhancing efficiency, and ensuring real-time data management. The demand for smart manufacturing solutions continues to rise, driving the adoption of MES to streamline operations and enable intelligent decision-making, contributing to the overall expansion of the smart factory market.
“Oil & Gas to hold largest market share in the year 2023.”
Oil and gas sector is experiencing substantial growth within the smart factory market. This expansion is propelled by the integration of advanced technologies such as automation, the Internet of Things (IoT), and data analytics. Smart factories play a pivotal role in elevating operational efficiency, optimizing production processes, and facilitating real-time monitoring in the oil and gas industry. This synergy promotes streamlined operations, predictive maintenance, and enhanced decision-making capabilities, contributing to a significant upward trend in the industry’s presence within the smart factory market.
“Automotive to hold largest market share in the year 2023.”
The automotive industry’s integration into the smart factory market has experienced exponential growth, leveraging advanced technologies like Industrial Internet of Things (IIoT), automation, and data analytics. Smart factories in the automotive sector optimize production processes, enhance efficiency, and ensure higher quality outputs. This synergy has led to streamlined manufacturing, reduced downtime, and increased overall productivity, marking a transformative shift towards more intelligent and connected production systems within the automotive industry.
“Asia Pacific to be the fastest growing region in the forecast period.”
Asia Pacific region has witnessed remarkable growth in smart factories, leveraging advanced technologies like IoT, AI, and robotics. Governments and industries are increasingly investing in digital transformation, enhancing manufacturing efficiency, and embracing Industry 4.0 principles. The integration of intelligent systems, data analytics, and automation has propelled the smart factory landscape, fostering innovation and competitiveness across diverse sectors. As a result, the Asia Pacific region continues to experience a significant surge in the adoption and expansion of smart manufacturing facilities, driving economic development and technological advancements.
The break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
• By Designation – C-level Executives – 45%, Directors – 35%, and Others – 20%
• By Region – North America – 35%, Europe – 25%, Asia Pacific – 30%, RoW- 10%
The major players in the market are ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), General Electric (US), Rockwell Automation, Inc. (US), Honeywell International Inc. (US), Yokogawa Electric Corporation (Japan), OMRON Corporation (Japan), Endress+Hauser (Switzerland), FANUC Corporation (Japan), WIKA (Germany), Dwyer Instruments, LLC. (US), Stratasys (US), 3D Systems Corporation (US)
Research Coverage:
The Smart factory market has been segmented into Component, Solution, Process Industries, Discrete Industries, and regions. The Smart factory market was studied in North America, Europe, Asia Pacific, and the Rest of the World (RoW). The report describes the major drivers, restraints, challenges, and opportunities of the Smart factory market and forecasts the same till 2029. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the Smart factory ecosystem.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the Smart factory market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
• Analysis of Key Drivers (Growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations, Increasing demand for industrial robots, Rising demand for technologies such as IoT and artificial intelligence in industrial environments), Restraints (Requirement of significant capital investments, Security risks associated with cyber-physical systems), Opportunities (Emergence of 5G technology in smart factories, Growing number of developments in wireless sensor networks and their adoption in smart factories), Challenges (Interoperability between information technology (IT) and operational technology (OT), Vulnerability to cyberattacks).
• Product Development/Innovation: Detailed insights on research and development activities and new product launches in the Smart factory market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the Smart factory market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Smart factory market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like ABB (Switzerland), Emerson Electric Co. (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), General Electric (US), Rockwell Automation, Inc. (US), Honeywell International Inc. (US), Yokogawa Electric Corporation (Japan), OMRON Corporation (Japan), Endress+Hauser (Switzerland), FANUC Corporation (Japan), WIKA (Germany), Dwyer Instruments, LLC. (US), Stratasys (US), 3D Systems Corporation (US) among others in the Smart factory market.
Table of Contents
1 INTRODUCTION 37
1.1 STUDY OBJECTIVES 37
1.2 MARKET DEFINITION 37
1.2.1 INCLUSIONS AND EXCLUSIONS 38
1.3 STUDY SCOPE 39
1.3.1 MARKETS COVERED 39
1.3.2 YEARS CONSIDERED 40
1.4 CURRENCY CONSIDERED 40
1.5 LIMITATIONS 40
1.6 STAKEHOLDERS 40
1.7 SUMMARY OF CHANGES 41
1.8 IMPACT OF RECESSION 41
2 RESEARCH METHODOLOGY 42
2.1 RESEARCH DATA 42
FIGURE 1 RESEARCH DESIGN 42
2.1.1 SECONDARY DATA 43
2.1.1.1 List of major secondary sources 43
2.1.1.2 Key data from secondary sources 43
2.1.2 PRIMARY DATA 44
2.1.2.1 Breakdown of interviews with experts 44
2.1.2.2 Key data from primary sources 44
2.1.2.3 Key industry insights 45
2.1.3 SECONDARY AND PRIMARY RESEARCH 46
2.2 MARKET SIZE ESTIMATION 47
FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY SIDE): REVENUE FROM INDUSTRIAL SENSORS MARKET 47
2.2.1 BOTTOM UP APPROACH 48
2.2.1.1 Approach to estimate market size using bottom up analysis 48
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM UP APPROACH 48
2.2.2 TOP DOWN APPROACH 49
2.2.2.1 Approach to estimate market size using top down analysis 49
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP DOWN APPROACH 49
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 50
FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION 50
2.4 RESEARCH ASSUMPTIONS 51
FIGURE 6 ASSUMPTIONS FOR RESEARCH STUDY PARAMETERS 51
2.5 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION 51
2.6 RISK ASSESSMENT 52
TABLE 1 LIMITATIONS AND ASSOCIATED RISKS 52
3 EXECUTIVE SUMMARY 53
FIGURE 7 INDUSTRIAL SENSORS SEGMENT ESTIMATED TO BE LARGEST IN 2024 54
FIGURE 8 MES SEGMENT ESTIMATED TO DOMINATE MARKET IN 2024 54
FIGURE 9 OIL & GAS PROCESS INDUSTRY ESTIMATED TO LEAD IN 2024 55
FIGURE 10 MEDICAL DEVICES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 55
FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST MARKET SHARE IN 2023 56
4 PREMIUM INSIGHTS 57
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART FACTORY MARKET 57
FIGURE 12 INCREASING USE OF AUTOMATION IN MANUFACTURING TO BOOST ADOPTION OF SMART FACTORY SOLUTIONS 57
4.2 SMART FACTORY MARKET, BY COMPONENT 57
FIGURE 13 INDUSTRIAL 3D PRINTERS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 57
4.3 SMART FACTORY MARKET, BY SOLUTION 58
FIGURE 14 MES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 58
4.4 SMART FACTORY MARKET, BY PROCESS INDUSTRY 58
FIGURE 15 OIL & GAS PROCESS INDUSTRY ESTIMATED TO BE LARGEST IN 2024 58
4.5 SMART FACTORY MARKET, BY DISCRETE INDUSTRY 59
FIGURE 16 AUTOMOTIVE DISCRETE INDUSTRY ESTIMATED TO BE LARGEST IN 2024 59
4.6 SMART FACTORY MARKET, BY COUNTRY 59
FIGURE 17 MARKET IN INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 59
5 MARKET OVERVIEW 60
5.1 INTRODUCTION 60
5.2 MARKET DYNAMICS 60
FIGURE 18 SMART FACTORY MARKET DYNAMICS 60
5.2.1 DRIVERS 61
5.2.1.1 Increasing focus on enhancing energy efficiency, optimizing resources, and reducing costs in production operations 61
5.2.1.2 Increasing demand for industrial robots 61
FIGURE 19 HISTORICAL AND PROJECTED ANNUAL INSTALLATION OF INDUSTRIAL ROBOTS, 2012–2022 62
5.2.1.3 Rising demand for technologies such as IoT and artificial intelligence in industrial environments 62
FIGURE 20 SMART FACTORY MARKET DRIVERS AND THEIR IMPACT 63
5.2.2 RESTRAINTS 63
5.2.2.1 Need for significant capital investments 63
5.2.2.2 Security risks associated with cyber-physical systems 63
FIGURE 21 SMART FACTORY MARKET RESTRAINTS AND THEIR IMPACT 64
5.2.3 OPPORTUNITIES 64
5.2.3.1 Emergence of 5G technology in smart factories 64
5.2.3.2 Advancements in wireless sensor networks and integration into intelligent manufacturing facilities 65
FIGURE 22 SMART FACTORY MARKET OPPORTUNITIES AND THEIR IMPACT 65
5.2.4 CHALLENGES 65
5.2.4.1 Interoperability between information technology (IT) and operational technology (OT) 65
5.2.4.2 Vulnerability to cyberattacks 66
FIGURE 23 SMART FACTORY MARKET CHALLENGES AND THEIR IMPACT 66
5.3 SUPPLY CHAIN ANALYSIS 67
FIGURE 24 SMART FACTORY SUPPLY CHAIN ANALYSIS 67
5.3.1 MANUFACTURING 67
5.3.2 SOFTWARE DEVELOPMENT 67
5.3.3 PRODUCT, SOLUTION, AND SYSTEM INTEGRATION 68
5.3.4 DISTRIBUTORS 68
5.3.5 END USER INDUSTRIES 68
5.3.6 POST-SALES SERVICES 68
5.4 ECOSYSTEM ANALYSIS 68
FIGURE 25 ECOSYSTEM 68
TABLE 2 ROLE OF PLAYERS IN ECOSYSTEM 69
5.5 INVESTMENT AND FUNDING SCENARIO 70
FIGURE 26 FUNDING FOR SMART FACTORY PLAYERS (2019–2023) 70
5.6 PRICING ANALYSIS 70
5.6.1 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS 70
TABLE 3 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS, BY PAYLOAD CAPACITY 71
FIGURE 27 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT 72
5.6.2 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD) 72
TABLE 4 AVERAGE SELLING PRICE OF KEY PLAYERS, BY PRODUCT (USD) 72
5.6.3 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD) 73
TABLE 5 AVERAGE SELLING PRICES OF INDUSTRIAL ROBOTS, BY REGION (USD) 73
5.6.4 AVERAGE SELLING PRICE TREND, BY PAYLOAD CAPACITY 73
FIGURE 28 INDUSTRIAL ROBOTS MARKET: AVERAGE PRICE BASED ON PAYLOAD CAPACITY 73
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 74
FIGURE 29 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 74
5.8 PORTER’S FIVE FORCES ANALYSIS 74
FIGURE 30 SMART FACTORY MARKET: PORTER’S FIVE FORCES ANALYSIS 75
TABLE 6 IMPACT OF PORTER’S FIVE FORCES ON SMART FACTORY MARKET 75
5.8.1 THREAT OF NEW ENTRANTS 75
5.8.2 THREAT OF SUBSTITUTES 76
5.8.3 BARGAINING POWER OF SUPPLIERS 76
5.8.4 BARGAINING POWER OF BUYERS 76
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 76
5.9 CASE STUDY ANALYSIS 77
5.9.1 ELOPAK INSTALLS FULLY ASEPTIC FILLING MACHINE FOR GABLE TOP PACKAGING WITH ROBUST PNEUMATICS FROM EMERSON AVENTICS 77
5.9.2 MP EQUIPMENT JOINS HANDS WITH ROCKWELL AUTOMATION SAFETY CONSULTANTS TO RE-EVALUATE DESIGN OF PROTEIN PORTIONING MACHINE 77
5.9.3 MOLLART ENGINEERING SELECTS PROCTER SMART FACTORY’S ENCLOSED GUARDS TO INSTALL IN ITS MACHINE TOOLS 78
5.10 TECHNOLOGY TRENDS 78
5.10.1 KEY TECHNOLOGIES 78
5.10.1.1 Artificial Intelligence 78
5.10.1.2 Augmented Reality 78
5.10.1.3 IoT 79
5.10.2 COMPLEMENTARY TECHNOLOGY 79
5.10.2.1 5G 79
5.10.2.2 Digital Twin 79
5.10.2.3 Predictive Maintenance 80
5.10.3 ADJACENT TECHNOLOGY 80
5.10.3.1 Blockchain 80
5.10.3.2 Smart Energy Management 80
5.10.3.3 Edge Computing 81
5.10.3.4 Predictive Supply Chain 81
5.10.3.5 Cybersecurity 81
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 82
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS 82
FIGURE 31 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS 82
TABLE 7 INFLUENCE OF STAKEHOLDERS FROM TOP 3 INDUSTRIES ON BUYING PROCESS 82
5.11.2 BUYING CRITERIA 83
FIGURE 32 BUYING CRITERIA OF TOP 3 INDUSTRIES 83
TABLE 8 KEY BUYING CRITERIA OF TOP 3 INDUSTRIES 83
5.12 TRADE ANALYSIS 84
5.12.1 IMPORT SCENARIO 84
FIGURE 33 IMPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, N.E.S., BY KEY COUNTRY, 2018–2022 (USD MILLION) 84
5.12.2 EXPORT SCENARIO 85
FIGURE 34 EXPORT DATA FOR HS CODE 847950: INDUSTRIAL ROBOTS, BY KEY COUNTRY, 2018–2022 (USD MILLION) 85
5.13 PATENT ANALYSIS 86
FIGURE 35 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 86
FIGURE 36 PATENT ANALYSIS 86
5.13.1 LIST OF MAJOR PATENTS 87
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 89
TABLE 9 REGION-WISE LIST OF KEY CONFERENCES AND EVENTS 89
5.15 STANDARDS AND REGULATORY LANDSCAPE 90
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 90
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 90
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 91
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92
TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 92
5.15.2 STANDARDS 93
TABLE 14 MAJOR COMMUNICATION STANDARDS FOR SCADA SYSTEMS 93
TABLE 15 INDUSTRIAL SAFETY STANDARDS 93
6 MACHINE SAFETY MARKET, BY COMPONENT 94
6.1 INTRODUCTION 95
FIGURE 37 SMART FACTORY MARKET, BY COMPONENT 95
FIGURE 38 INDUSTRIAL SENSORS COMPONENT SEGMENT TO LEAD SMART FACTORY MARKET DURING FORECAST PERIOD 95
TABLE 16 SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 96
TABLE 17 SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 96
6.2 INDUSTRIAL SENSORS 97
TABLE 18 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2020–2023 (USD MILLION) 97
TABLE 19 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY SENSOR TYPE, 2024–2029 (USD MILLION) 98
TABLE 20 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS) 98
TABLE 21 INDUSTRIAL SENSORS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS) 98
TABLE 22 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 98
TABLE 23 INDUSTRIAL SENSORS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 99
6.2.1 LEVEL SENSORS 99
6.2.1.1 Requirement to measure liquid, bulk solid, and other fluid levels to drive market 99
6.2.2 TEMPERATURE SENSORS 99
6.2.2.1 Adoption of lean manufacturing and process control technologies to drive market 99
6.2.3 FLOW SENSORS 100
6.2.3.1 Wide use in monitoring flow of various chemicals to foster market growth 100
6.2.4 POSITION SENSORS 100
6.2.4.1 Increasing demand from several applications to drive market 100
6.2.5 PRESSURE SENSORS 100
6.2.5.1 Replacement of pressure transducers with cost-efficient pressure transmitters to drive market 100
6.2.6 FORCE SENSORS 100
6.2.6.1 Demand for force control to improve safety and comfort in robot – human interactions to drive market 100
6.2.7 HUMIDITY & MOISTURE SENSORS 101
6.2.7.1 Extensive use in chemicals, pharmaceuticals, oil & gas, and food & beverage industries to drive market 101
6.2.8 IMAGE SENSORS 101
6.2.8.1 Wide usage in imaging devices to foster market growth 101
6.2.9 GAS SENSORS 101
6.2.9.1 Rising demand from various end-use industries to drive market 101
6.3 INDUSTRIAL ROBOTS 101
TABLE 24 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (USD MILLION) 102
TABLE 25 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (USD MILLION) 102
TABLE 26 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2020–2023 (THOUSAND UNITS) 102
TABLE 27 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY TYPE, 2024–2029 (THOUSAND UNITS) 102
TABLE 28 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 103
TABLE 29 INDUSTRIAL ROBOTS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 103
6.3.1 TRADITIONAL INDUSTRIAL ROBOTS 103
6.3.1.1 Adoption of automated manufacturing techniques to drive market growth 103
6.3.1.2 Articulated robots 104
6.3.1.2.1 Demand for assembly, welding, and machine load and unloads to drive market 104
6.3.1.3 Cartesian robots 104
6.3.1.3.1 Provision of accurate and quick solutions for material handling applications to drive market 104
6.3.1.4 Selective compliance assembly robot arm 104
6.3.1.4.1 Enabling flexible horizontal motions while being fixed vertically to drive market 104
6.3.1.5 Cylindrical robots 105
6.3.1.5.1 Deployment in various robotic applications to drive market 105
6.3.1.6 Other robots 105
6.3.2 COLLABORATIVE ROBOTS 105
6.3.2.1 High production efficiency through human-robot collaboration to drive market 105
6.4 INDUSTRIAL 3D PRINTERS 105
6.4.1 ELIMINATION OF ASSEMBLY LINE AND REDUCTION OF LABOR COSTS TO DRIVE MARKET 105
TABLE 30 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION) 106
TABLE 31 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION) 106
TABLE 32 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2020–2023 (MILLION UNITS) 107
TABLE 33 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, 2024–2029 (MILLION UNITS) 107
TABLE 34 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2020–2023 (USD MILLION) 107
TABLE 35 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY PROCESS, 2024–2029 (USD MILLION) 108
TABLE 36 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 108
TABLE 37 INDUSTRIAL 3D PRINTERS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 108
6.5 MACHINE VISION SYSTEMS 109
6.5.1 INCREASING DEMAND FOR QUALITY FROM MANUFACTURERS AND CUSTOMERS TO DRIVE MARKET 109
TABLE 38 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2020–2023 (USD MILLION) 109
TABLE 39 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY PRODUCT, 2024–2029 (USD MILLION) 109
TABLE 40 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 110
TABLE 41 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 110
TABLE 42 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 110
TABLE 43 MACHINE VISION SYSTEMS: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 110
6.5.2 CAMERAS 111
6.5.2.1 Demand for high-quality images, image processing, and compactness to drive market 111
6.5.3 FRAME GRABBERS, OPTICS, AND LED LIGHTING 111
6.5.3.1 Enhancement of image quality to drive market 111
6.5.4 PROCESSORS AND SOFTWARE 112
6.5.4.1 Extraction of patterns from images of products to match predefined requirements and enable approval to drive market 112
7 SMART FACTORY MARKET, BY SOLUTION 113
7.1 INTRODUCTION 114
FIGURE 39 SMART FACTORY MARKET, BY SOLUTION 114
FIGURE 40 MES SEGMENT TO LEAD SMART FACTORY MARKET FROM 2024 TO 2029 115
TABLE 44 SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 115
TABLE 45 SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 115
7.2 MANUFACTURING EXECUTION SYSTEM (MES) 116
7.2.1 INCREASING PRODUCTIVITY, REDUCING SHIPPING TIME, AND PROCESSING DATA TO DRIVE MARKET 116
TABLE 46 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION) 117
TABLE 47 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION) 117
TABLE 48 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 117
TABLE 49 MANUFACTURING EXECUTION SYSTEM: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 117
7.3 SUPERVISORY CONTROL AND DATA ACQUISITION (SCADA) 118
7.3.1 CONTROL AND ACQUISITION OF DATA FROM REMOTE DEVICES TO DRIVE MARKET 118
TABLE 50 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2020–2023 (USD MILLION) 119
TABLE 51 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY OFFERING, 2024–2029 (USD MILLION) 119
TABLE 52 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 119
TABLE 53 SUPERVISORY CONTROL & DATA ACQUISITION: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 120
7.4 PLANT ASSET MANAGEMENT (PAM) 120
7.4.1 REDUCED UNPLANNED DOWNTIME AND OPTIMIZED ASSET UTILIZATION TO FOSTER MARKET GROWTH 120
TABLE 54 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 121
TABLE 55 PLANT ASSET MANAGEMENT: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 121
7.5 INDUSTRIAL SAFETY 122
7.5.1 RISK MITIGATION IN SENSORS, LOGIC CONTROLS, AND ACTING ELEMENTS TO DRIVE MARKET 122
TABLE 56 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 122
TABLE 57 INDUSTRIAL SAFETY: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 122
8 SMART FACTORY MARKET, BY INDUSTRY 123
8.1 INTRODUCTION 124
FIGURE 41 SMART FACTORY MARKET, BY INDUSTRY 124
TABLE 58 SMART FACTORY MARKET, BY INDUSTRY, 2020–2023 (USD MILLION) 125
TABLE 59 SMART FACTORY MARKET, BY INDUSTRY, 2024–2029 (USD MILLION) 125
8.2 PROCESS INDUSTRIES 125
8.2.1 NEED TO DELIVER SUPERIOR PRODUCTS AT COMPETITIVE COSTS TO DRIVE MARKET 125
TABLE 60 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2020–2023 (USD MILLION) 126
TABLE 61 SMART FACTORY MARKET, BY PROCESS INDUSTRIES, 2024–2029 (USD MILLION) 126
FIGURE 42 METALS & MINING SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 127
8.2.2 OIL & GAS 127
8.2.2.1 Reliability in large-scale production, product quality, and accelerated decision-making to drive market 127
TABLE 62 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 128
TABLE 63 OIL & GAS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 128
TABLE 64 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 128
TABLE 65 OIL & GAS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 128
8.2.3 CHEMICALS 129
8.2.3.1 Enhancement of production efficiencies and operational excellence in processes to drive market 129
TABLE 66 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 129
TABLE 67 CHEMICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 129
TABLE 68 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 130
TABLE 69 CHEMICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 130
8.2.4 PULP & PAPER 130
8.2.4.1 Workflow management and process optimization to boost market 130
TABLE 70 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 131
TABLE 71 PULP & PAPER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 131
TABLE 72 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 131
TABLE 73 PULP & PAPER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 131
8.2.5 PHARMACEUTICALS 132
8.2.5.1 Need to standardize workflows and enable regulatory compliances to fuel market 132
TABLE 74 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 132
TABLE 75 PHARMACEUTICALS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 133
TABLE 76 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 133
TABLE 77 PHARMACEUTICALS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 133
8.2.6 METALS & MINING 133
8.2.6.1 Cost containment, supply chain visibility, and risk management to drive market 133
TABLE 78 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 134
TABLE 79 METALS & MINING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 134
TABLE 80 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 134
TABLE 81 METALS & MINING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 135
8.2.7 FOOD & BEVERAGE 135
8.2.7.1 Cost-efficient and streamlined production processes to foster growth 135
TABLE 82 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 136
TABLE 83 FOOD & BEVERAGE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 136
TABLE 84 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 136
TABLE 85 FOOD & BEVERAGE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 137
8.2.8 ENERGY & POWER 137
8.2.8.1 Improved plant performance and flexibility in electricity production to drive market 137
TABLE 86 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 137
TABLE 87 ENERGY & POWER: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 138
TABLE 88 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 138
TABLE 89 ENERGY & POWER: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 138
8.2.9 OTHER PROCESS INDUSTRIES 138
TABLE 90 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 139
TABLE 91 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 139
TABLE 92 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 139
TABLE 93 OTHER PROCESS INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 140
8.3 DISCRETE INDUSTRIES 140
8.3.1 OPTIMIZATION OF SUPPLY CHAIN MANAGEMENT TO DRIVE MARKET 140
TABLE 94 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2020–2023 (USD MILLION) 140
TABLE 95 SMART FACTORY MARKET, BY DISCRETE INDUSTRIES, 2024–2029 (USD MILLION) 141
FIGURE 43 AUTOMOTIVE INDUSTRY TO ACCOUNT FOR LARGEST MARKET SHARE IN 2024 141
8.3.2 AUTOMOTIVE 142
8.3.2.1 Development and production of high-quality automobiles to drive market 142
TABLE 96 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 142
TABLE 97 AUTOMOTIVE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 143
TABLE 98 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 143
TABLE 99 AUTOMOTIVE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 143
8.3.3 AEROSPACE 143
8.3.3.1 Real-time visibility of production processes, equipment conditions, and process defects to drive market 143
TABLE 100 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 144
TABLE 101 AEROSPACE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 144
TABLE 102 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 145
TABLE 103 AEROSPACE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 145
8.3.4 SEMICONDUCTOR & ELECTRONICS 145
8.3.4.1 Need to achieve accuracy in designing complex products to drive market 145
TABLE 104 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 146
TABLE 105 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 146
TABLE 106 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 146
TABLE 107 SEMICONDUCTOR & ELECTRONICS: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 147
8.3.5 MACHINE MANUFACTURING 147
8.3.5.1 Prevention of machine breakdown and unplanned downtime to drive market 147
TABLE 108 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 147
TABLE 109 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 147
TABLE 110 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 148
TABLE 111 MACHINE MANUFACTURING: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 148
8.3.6 MEDICAL DEVICES 148
8.3.6.1 Pressing need for manufacturing precision and high profitability to boost demand 148
TABLE 112 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 149
TABLE 113 MEDICAL DEVICES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 149
TABLE 114 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 149
TABLE 115 MEDICAL DEVICES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 149
8.3.7 OTHER DISCRETE INDUSTRIES 149
TABLE 116 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 150
TABLE 117 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 150
TABLE 118 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 150
TABLE 119 OTHER DISCRETE INDUSTRIES: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 150
9 SMART FACTORY MARKET, BY REGION 151
9.1 INTRODUCTION 152
FIGURE 44 SMART FACTORY MARKET, BY REGION 152
FIGURE 45 SMART FACTORY MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR FROM 2024 TO 2029 153
TABLE 120 SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 153
TABLE 121 SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 153
9.2 NORTH AMERICA 154
9.2.1 IMPACT OF RECESSION ON NORTH AMERICA 154
FIGURE 46 NORTH AMERICA: SMART FACTORY MARKET SNAPSHOT 155
TABLE 122 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 155
TABLE 123 NORTH AMERICA: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 156
TABLE 124 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 156
TABLE 125 NORTH AMERICA: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 156
TABLE 126 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 157
TABLE 127 NORTH AMERICA: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 157
9.2.2 US 157
9.2.2.1 Operational efficiency, improved product quality, and optimal use of resources to drive market 157
9.2.3 CANADA 158
9.2.3.1 Increasing government support for adopting advanced manufacturing technologies to drive market 158
9.2.4 MEXICO 158
9.2.4.1 Increasing investments and expansions by global market players to drive market 158
9.3 EUROPE 159
9.3.1 IMPACT OF RECESSION ON EUROPE 159
FIGURE 47 EUROPE: SMART FACTORY MARKET SNAPSHOT 160
TABLE 128 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 160
TABLE 129 EUROPE: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 161
TABLE 130 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 161
TABLE 131 EUROPE: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 161
TABLE 132 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 162
TABLE 133 EUROPE: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 162
9.3.2 UK 162
9.3.2.1 Increasing adoption of smart factory solutions in automotive industry to drive market 162
9.3.3 GERMANY 163
9.3.3.1 Industry 4.0 initiative to automate operations to drive market 163
9.3.4 FRANCE 163
9.3.4.1 Growth of industrial sector to drive market 163
9.3.5 ITALY 164
9.3.5.1 Focus on boosting manufacturing output to drive market 164
9.3.6 REST OF EUROPE 164
9.4 ASIA PACIFIC 164
9.4.1 IMPACT OF RECESSION ON ASIA PACIFIC 165
FIGURE 48 ASIA PACIFIC: SMART FACTORY MARKET SNAPSHOT 165
TABLE 134 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 166
TABLE 135 ASIA PACIFIC: SMART FACTORY MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 166
TABLE 136 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 166
TABLE 137 ASIA PACIFIC: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 167
TABLE 138 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 167
TABLE 139 ASIA PACIFIC: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 167
9.4.2 CHINA 167
9.4.2.1 Increasing adoption of automation solutions due to rising labor costs to drive market 167
9.4.3 JAPAN 168
9.4.3.1 Ongoing developments in smart manufacturing processes to drive market 168
9.4.4 INDIA 168
9.4.4.1 Rapid industrialization, recovering economy, growing government support, and increasing foreign investments to drive market 168
9.4.5 REST OF ASIA PACIFIC 169
9.5 REST OF THE WORLD (ROW) 169
9.5.1 IMPACT OF RECESSION ON ROW 169
FIGURE 49 REST OF THE WORLD: SMART FACTORY MARKET SNAPSHOT 170
TABLE 140 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2020–2023 (USD MILLION) 170
TABLE 141 REST OF THE WORLD: SMART FACTORY MARKET, BY REGION, 2024–2029 (USD MILLION) 170
TABLE 142 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2020–2023 (USD MILLION) 171
TABLE 143 REST OF THE WORLD: SMART FACTORY MARKET, BY COMPONENT, 2024–2029 (USD MILLION) 171
TABLE 144 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2020–2023 (USD MILLION) 171
TABLE 145 REST OF THE WORLD: SMART FACTORY MARKET, BY SOLUTION, 2024–2029 (USD MILLION) 172
9.5.2 GCC COUNTRIES 172
9.5.2.1 Commitment to technological advancement and industrial automation to drive market 172
9.5.3 AFRICA & REST OF MIDDLE EAST 172
9.5.3.1 Manufacturing, chemicals, oil & gas, machinery, and metal products industries to drive market 172
9.5.4 SOUTH AMERICA 173
9.5.4.1 Increasing demand for smart factory solutions to drive market 173
10 COMPETITIVE LANDSCAPE 174
10.1 INTRODUCTION 174
10.2 KEY PLAYER STRATEGIES 174
TABLE 146 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN SMART FACTORY MARKET, 2022–2023 174
10.3 REVENUE ANALYSIS 176
FIGURE 50 INDUSTRIAL SENSORS MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022 176
10.4 MARKET SHARE ANALYSIS 176
TABLE 147 INDUSTRIAL SENSORS MARKET: DEGREE OF COMPETITION 177
FIGURE 51 INDUSTRIAL SENSORS MARKET SHARE ANALYSIS, 2023 177
10.5 COMPANY VALUATION AND FINANCIAL METRICS, 2023 179
FIGURE 52 COMPANY VALUATION, 2023 (USD BILLION) 179
FIGURE 53 FINANCIAL METRICS (EV/EBITDA), 2022 179
10.6 BRAND/PRODUCT COMPARISON 180
FIGURE 54 BRAND/PRODUCT COMPARISON 180
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 181
10.7.1 STARS 181
10.7.2 EMERGING LEADERS 181
10.7.3 PERVASIVE PLAYERS 181
10.7.4 PARTICIPANTS 181
FIGURE 55 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX, KEY PLAYERS, 2023 182
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 183
10.7.5.1 Overall footprint 183
TABLE 148 OVERALL COMPANY FOOTPRINT (25 COMPANIES) 183
10.7.5.2 Sensor type footprint 184
TABLE 149 SENSOR TYPE: COMPANY FOOTPRINT (25 COMPANIES) 184
10.7.5.3 Industry footprint 185
TABLE 150 INDUSTRY: COMPANY FOOTPRINT (25 COMPANIES) 185
10.7.5.4 Region footprint 186
TABLE 151 REGION: COMPANY FOOTPRINT (25 COMPANIES) 186
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 187
TABLE 152 STARTUPS/SMES IN INDUSTRIAL SENSORS MARKET 187
10.8.1 PROGRESSIVE COMPANIES 188
10.8.2 RESPONSIVE COMPANIES 188
10.8.3 DYNAMIC COMPANIES 188
10.8.4 STARTING BLOCKS 188
FIGURE 56 INDUSTRIAL SENSORS MARKET: COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 189
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 190
10.8.5.1 List of key startups/SMEs 190
TABLE 153 INDUSTRIAL SENSORS MARKET: LIST OF KEY STARTUPS/SMES 190
10.8.5.2 Competitive benchmarking of key startups/SMEs 190
TABLE 154 INDUSTRIAL SENSORS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 190
10.9 COMPETITIVE SCENARIO AND TRENDS 191
10.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS 191
TABLE 155 SMART FACTORY MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024 191
10.9.2 DEALS 193
TABLE 156 SMART FACTORY MARKET: DEALS, JANUARY 2022–FEBRUARY 2024 193
10.9.3 CONTRACTS 195
TABLE 157 SMART FACTORY MARKET: CONTRACTS, JANUARY 2022–FEBRUARY 2024 195
10.9.4 EXPANSIONS 196
TABLE 158 SMART FACTORY MARKET: EXPANSIONS, JANUARY 2022–FEBRUARY 2024 196
10.9.5 OTHER DEVELOPMENTS 197
TABLE 159 SMART FACTORY MARKET: OTHER DEVELOPMENTS, JANUARY 2022–FEBRUARY 2024 197
11 COMPANY PROFILES 198
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1 KEY PLAYERS 198
11.1.1 ABB 198
TABLE 160 ABB: COMPANY OVERVIEW 198
FIGURE 57 ABB: COMPANY SNAPSHOT 199
TABLE 161 ABB: PRODUCT/SOLUTION/SERVICE OFFERINGS 199
TABLE 162 ABB: DEALS 200
TABLE 163 ABB: EXPANSIONS 201
11.1.2 EMERSON ELECTRIC CO. 202
TABLE 164 EMERSON ELECTRIC CO.: COMPANY OVERVIEW 202
FIGURE 58 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT 203
TABLE 165 EMERSON ELECTRIC CO.: PRODUCT/SOLUTION/SERVICE OFFERINGS 203
TABLE 166 EMERSON ELECTRIC CO.: PRODUCT LAUNCHES AND DEVELOPMENTS 204
TABLE 167 EMERSON ELECTRIC CO.: DEALS 205
11.1.3 SIEMENS 207
TABLE 168 SIEMENS: COMPANY OVERVIEW 207
FIGURE 59 SIEMENS: COMPANY SNAPSHOT 208
TABLE 169 SIEMENS: PRODUCT/SOLUTION/SERVICE OFFERINGS 208
TABLE 170 SIEMENS: DEALS 210
11.1.4 SCHNEIDER ELECTRIC 212
TABLE 171 SCHNEIDER ELECTRIC: COMPANY OVERVIEW 212
FIGURE 60 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 213
TABLE 172 SCHNEIDER ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS 213
TABLE 173 SCHNEIDER ELECTRIC: EXPANSIONS 215
11.1.5 MITSUBISHI ELECTRIC CORPORATION 216
TABLE 174 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW 216
FIGURE 61 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT 217
TABLE 175 MITSUBISHI ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 217
TABLE 176 MITSUBISHI ELECTRIC CORPORATION: OTHERS 219
TABLE 177 MITSUBISHI ELECTRIC CORPORATION: EXPANSIONS 219
11.1.6 GENERAL ELECTRIC 220
TABLE 178 GENERAL ELECTRIC: COMPANY OVERVIEW 220
FIGURE 62 GENERAL ELECTRIC: COMPANY SNAPSHOT 221
TABLE 179 GENERAL ELECTRIC: PRODUCT/SOLUTION/SERVICE OFFERINGS 221
TABLE 180 GENERAL ELECTRIC: PRODUCT LAUNCHES AND DEVELOPMENTS 222
TABLE 181 GENERAL ELECTRIC: EXPANSIONS 222
11.1.7 ROCKWELL AUTOMATION, INC. 223
TABLE 182 ROCKWELL AUTOMATION, INC.: COMPANY OVERVIEW 223
FIGURE 63 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT 224
TABLE 183 ROCKWELL AUTOMATION, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS 224
TABLE 184 ROCKWELL AUTOMATION, INC.: PRODUCT LAUNCHES AND DEVELOPMENTS 225
TABLE 185 ROCKWELL AUTOMATION, INC.: DEALS 226
TABLE 186 ROCKWELL AUTOMATION, INC.: EXPANSIONS 226
11.1.8 HONEYWELL INTERNATIONAL INC. 228
TABLE 187 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW 228
FIGURE 64 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 229
TABLE 188 HONEYWELL INTERNATIONAL INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS 229
TABLE 189 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES AND DEVELOPMENTS 230
TABLE 190 HONEYWELL INTERNATIONAL INC.: DEALS 231
11.1.9 YOKOGAWA ELECTRIC CORPORATION 232
TABLE 191 YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW 232
FIGURE 65 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT 233
TABLE 192 YOKOGAWA ELECTRIC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 233
TABLE 193 YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES AND DEVELOPMENTS 234
TABLE 194 YOKOGAWA ELECTRIC CORPORATION: CONTRACTS 235
11.1.10 OMRON CORPORATION 236
TABLE 195 OMRON CORPORATION: COMPANY OVERVIEW 236
FIGURE 66 OMRON CORPORATION: COMPANY SNAPSHOT 237
TABLE 196 OMRON CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 237
TABLE 197 OMRON CORPORATION: DEALS 238
11.1.11 ENDRESS+HAUSER GROUP SERVICES AG 239
TABLE 198 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY OVERVIEW 239
FIGURE 67 ENDRESS+HAUSER GROUP SERVICES AG: COMPANY SNAPSHOT 240
TABLE 199 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT/SOLUTION/SERVICE OFFERINGS 240
TABLE 200 ENDRESS+HAUSER GROUP SERVICES AG: PRODUCT LAUNCHES AND DEVELOPMENTS 241
TABLE 201 ENDRESS+HAUSER GROUP SERVICES AG: EXPANSIONS 242
11.1.12 FANUC CORPORATION 243
TABLE 202 FANUC CORPORATION: COMPANY OVERVIEW 243
FIGURE 68 FANUC CORPORATION: COMPANY SNAPSHOT 244
TABLE 203 FANUC CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 244
11.1.13 WIKA 245
TABLE 204 WIKA: COMPANY OVERVIEW 245
TABLE 205 WIKA: PRODUCT/SOLUTION/SERVICE OFFERINGS 245
TABLE 206 WIKA: EXPANSIONS 246
11.1.14 DWYER INSTRUMENTS, LLC. 247
TABLE 207 DWYER INSTRUMENTS, LLC.: COMPANY OVERVIEW 247
TABLE 208 DWYER INSTRUMENTS: PRODUCT/SOLUTION/SERVICE OFFERINGS 247
TABLE 209 DWYER INSTRUMENTS: PRODUCT LAUNCHES AND DEVELOPMENTS 248
11.1.15 STRATASYS 249
TABLE 210 STRATASYS: COMPANY OVERVIEW 249
FIGURE 69 STRATASYS: COMPANY SNAPSHOT 250
TABLE 211 STRATASYS: PRODUCT/SOLUTION/SERVICE OFFERINGS 250
TABLE 212 STRATASYS: PRODUCT LAUNCHES AND DEVELOPMENTS 251
TABLE 213 STRATASYS: DEALS 251
11.1.16 3D SYSTEMS, INC. 252
TABLE 214 3D SYSTEMS, INC.: COMPANY OVERVIEW 252
FIGURE 70 3D SYSTEMS, INC.: COMPANY SNAPSHOT 253
TABLE 215 3D SYSTEMS, INC.: PRODUCT/SOLUTION/SERVICE OFFERINGS 253
TABLE 216 3D SYSTEMS, INC.: DEALS 254
11.2 OTHER PLAYERS 255
11.2.1 FUJI ELECTRIC CO., LTD. 255
TABLE 217 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW 255
11.2.2 HITACHI, LTD. 256
TABLE 218 HITACHI, LTD.: COMPANY OVERVIEW 256
11.2.3 KROHNE MESSTECHNIK GMBH 257
TABLE 219 KROHNE MESSTECHNIK GMBH: COMPANY OVERVIEW 257
11.2.4 AZBIL CORPORATION 258
TABLE 220 AZBIL CORPORATION: COMPANY OVERVIEW 258
11.2.5 VEGA GRIESHABER KG 259
TABLE 221 VEGA GRIESHABER KG: COMPANY OVERVIEW 259
11.2.6 DANFOSS 259
TABLE 222 DANFOSS: COMPANY OVERVIEW 259
11.2.7 KUKA AG 260
TABLE 223 KUKA AG: COMPANY OVERVIEW 260
11.3 OTHER SMALL AND MEDIUM-SIZED ENTERPRISES 261
11.3.1 TRIDITIVE 261
TABLE 224 TRIDITIVE: COMPANY OVERVIEW 261
11.3.2 ROBOZE 262
TABLE 225 ROBOZE: COMPANY OVERVIEW 262
11.3.3 SOFTGRIPPING GMBH 262
TABLE 226 SOFTGRIPPING GMBH: COMPANY OVERVIEW 262
11.3.4 ZIVID 263
TABLE 227 ZIVID: COMPANY OVERVIEW 263
11.3.5 ENERSIS SUISSE AG 263
TABLE 228 ENERSIS SUISSE AG: COMPANY OVERVIEW 263
11.3.6 INXPECT S.P.A. 264
TABLE 229 INXPECT S.P.A.: COMPANY OVERVIEW 264
11.3.7 INUITIVE 264
TABLE 230 INUITIVE: COMPANY OVERVIEW 264
11.3.8 EARTEX LTD (EAVE) 265
TABLE 231 EARTEX LTD (EAVE): COMPANY OVERVIEW 265
11.3.9 CANARIA TECHNOLOGIES 265
TABLE 232 CANARIA TECHNOLOGIES: COMPANY OVERVIEW 265
11.3.10 FUELICS 266
TABLE 233 FUELICS: COMPANY OVERVIEW 266
11.3.11 ULTIMAKER 266
TABLE 234 ULTIMAKER: COMPANY OVERVIEW 266
11.3.12 NANO DIMENSION 267
TABLE 235 NANO DIMENSION: COMPANY OVERVIEW 267
11.3.13 DEEP LEARNING ROBOTICS 267
TABLE 236 DEEP LEARNING ROBOTICS: COMPANY OVERVIEW 267
11.3.14 PICK-IT N.V. 268
TABLE 237 PICK-IT N.V.: COMPANY OVERVIEW 268
11.3.15 ONROBOT A/S 268
TABLE 238 ONROBOT A/S: COMPANY OVERVIEW 268
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 ADJACENT & RELATED MARKETS 269
12.1 INTRODUCTION 269
12.2 LIMITATIONS 269
12.3 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE 269
12.3.1 INTRODUCTION 269
TABLE 239 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2019–2022 (USD MILLION) 270
TABLE 240 DIGITAL TWIN MARKET, BY ENTERPRISE SIZE, 2023–2028 (USD MILLION) 270
12.3.2 LARGE ENTERPRISES 271
12.3.2.1 Rapid deployment of blockchain technology in healthcare sector to drive market 271
TABLE 241 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION) 272
TABLE 242 LARGE ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION) 272
12.3.3 SMALL & MEDIUM ENTERPRISES (SMES) 273
12.3.3.1 Subscription-based digital twin services to boost segmental growth 273
TABLE 243 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2019–2022 (USD MILLION) 273
TABLE 244 SMALL & MEDIUM ENTERPRISES: DIGITAL TWIN MARKET, BY REGION, 2023–2028 (USD MILLION) 274
13 APPENDIX 275
13.1 INSIGHTS OF INDUSTRY EXPERTS 275
13.2 DISCUSSION GUIDE 275
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 279
13.4 CUSTOMIZATION OPTIONS 281
13.5 RELATED REPORTS 281
13.6 AUTHOR DETAILS 282
Table of Contents