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Smart Factory Market worth 74.80 Billion USD by 2022PUNE, India, March 2, 2016 /PRNewswire/ -- The report "Smart Factory Market by Technology (PLM, MES, PLC, SCADA, ERP, DCS, HMI), Component (Sensors & Actuators, Communication Technologies, Industrial Robotics, Machine Vision), Industry (Process, Discrete), and Geography - Global Forecast to 2022", published by marketsandmarkets, The market size, in terms of value, is expected to reach USD 74.80 Billion by 2022, at a CAGR of 10.4% between 2016 and 2022. Browse 72 Tables and 101 Figures spread through 202 Pages and in-depth TOC on "Smart Factory Market" http://www.marketsandmarkets.com/Market-Reports/smart-factory-market-1227.html The emergence of smart factories can be seen from the period of change toward cohesive control of the machineries, processes, and resources with local intelligence. The increasing focus on saving energy & improving process efficiency along with the integration of engineering and manufacturing by the adoption of IoT is expected to foster the growth of the smart factory market. Machine vision expected to play a key role in the smart factory market, by component The market for machine vision is expected to grow at the highest rate during the forecast period. The machine vision systems have been increasingly gaining popularity as these systems are easy to use. Recent advancements in the machine vision technology such as smart cameras have increased the scope of the machine vision market for wider applications in the industrial and non-industrial sectors. Discrete industry expected to hold the largest market share during the forecast period The discrete industry is expected to hold the largest share of the Smart Factory Market by 2020, whereas the smart factory market for the process industry is expected to grow at the highest rate between 2016 and 2022. This growth in the process industry can be attributed to the increasing use of smart factory solutions in various verticals to minimize losses that occur due to the ineffective management of materials. APAC expcted to hold the largest market share and to grow at the highest CAGR APAC is expected to hold the largest market share and dominate the smart factory market between 2016 and 2022, owing to the growth in the manufacturing sector in China and India. The geographical expansion of the key automotive manufacturers in APAC is creating new opportunities for the smart factory market. Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=1227 The scope of the report covers detailed information regarding the major factors influencing the growth of the smart factory market such as drivers, restraints, challenges, and opportunities. Detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, and key strategies such as new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the smart factory market. Browse Related Reports Industrial Control and Factory Automation Market by Technology (SCADA, PLC & RTU, DCS, MES, HMI, and Safety), Component (Industrial Robot, MACHINE Vision, Valve, Control Device, and Field Instrument), Industry, & Geography - Global Forecast to 2020 Process Automation & Instrumentation Market by Instrument (Pressure, Temperature, Level and Humidity Transmitter), Solutions (PLC, DCS, SCADA, HMI, APC, MES and Safety Automation), Application, and Geography - Global Trend and Forecast to 2020 About MarketsandMarkets: MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
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