Smart Factory Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Japan, UK, Germany - Size and Forecast 2023-2027

Published: Oct 2023 Pages: 178 SKU: IRTNTR75649

Smart Factory Market Forecast 2023-2027

The Smart Factory Market size is forecast to increase by USD 73.68 billion at a CAGR of 9.26% between 2022 and 2027. The market is witnessing significant growth driven by several key factors. There is a pressing need for simplification and optimization of complex manufacturing processes, prompting industries to adopt smart factory solutions. Moreover, shifts in the global labor force dynamics and the increasing trend toward automation are accelerating the adoption of smart manufacturing technologies. Additionally, the miniaturization of sensors is enabling more efficient and precise monitoring and control within smart factory environments, further fueling market expansion. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Smart Factory Market During the Forecast Period?

Smart Factory Market Forecast 2023-2027

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The market is experiencing robust growth, driven by various key factors. Cloud technology plays a pivotal role in facilitating seamless connectivity and data management across factory operations, enhancing efficiency and productivity. Capital investments in advanced machinery and IT infrastructure are enabling manufacturers to modernize their production processes and adopt smart manufacturing practices. Integration of smart field devices, industrial robots, and communication technologies optimizes manufacturing workflows and enhances overall operational performance. Additionally, the emergence of 5G technology promises to revolutionize factory connectivity and enable real-time data exchange for enhanced decision-making. However, with the increasing adoption of digital technologies comes the risk of cyberattacks, highlighting the importance of robust cybersecurity measures in smart factory implementations. Industries such as metal & mining, information technology, and automobiles are at the forefront of embracing smart factory solutions to drive innovation and competitiveness.

Market Dynamics

The market is witnessing exponential growth driven by innovations in deep learning, computer vision, and natural language processing (NLP). Context awareness and big data analytics enable seamless integration of SCADA systems and Industrial IoT (IIoT) in diverse industries like semiconductor & electronics, energy & power, pharmaceuticals, automotive, and heavy metals manufacturing. Capital investments in advanced machinery and IT infrastructure optimize operations, supported by smart field devices and industrial robots. Communication technologies, including 5G, enhance connectivity, while cyberattack mitigation is ensured through industrial sensors and Computerized Maintenance Management Systems (CMMS). Augmented reality and virtual reality further augment efficiency in manufacturing, mining, and IT sectors. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. 

Key Market Driver

The global market is driven by the necessity to simplify intricate manufacturing processes. Industrial evolution has shifted focus towards maintaining plant assets, causing complexity in production due to customized product demands. The intricate relationship between production equipment, inventory, and support systems adds to the complexity.

Industrial automation, including SCADA, DCSs, and PLCs, effectively monitors processes, while SCADA systems gather data from PLCs, DCSs, and sensors. Industries strive for operational efficiency and asset maintenance to avert disruptions and revenue loss. These challenges are projected to propel the global market's growth in the foreseeable future.

Significant Market Trends

The global market is dominated by the Industrial Internet of Things (IIoT) trend. IIoT's growth enables the integration of smart machines in industries and services. This is fueled by the demand for smart devices, wireless tech, and cloud solutions, expanding smart machines' versatility. Major companies offer remote control options, using smart devices and Wi-Fi for flexible operation, allowing one operator to manage multiple machines.

IIoT aligns businesses with goals and KPIs through diverse smart machines. Its rise drives factories to interconnected systems. Companies transform facilities into smart factories, adapting equipment and flexible autonomous robots. User-friendly interfaces enhance offerings, as IIoT boosts demand for intelligent systems. These dynamics will drive market growth.

Major Market Challenge

The prominent hurdle for the global market is the apprehension over data privacy and security. Smart factory solutions enhance efficiency in industrial processes, yet their automation makes them susceptible to cyber threats. Cybersecurity remains a critical concern, particularly in sectors like oil and gas, power, and water, where data breaches and manipulation pose severe risks to critical infrastructure.

Attacks on one part of interconnected wireless systems can compromise the entire network, jeopardizing data integrity and privacy. Despite efforts by suppliers and end-users to bolster security, the evolving nature of cyber threats imperils smart solutions, potentially impeding market growth in the foreseeable future.

Market Segmentation

The component segment of the market is comprised of advanced technologies and systems essential for enabling intelligent and automated manufacturing processes. Deep learning, computer vision, and natural language processing (NLP) empower machines to understand and respond to complex tasks and instructions. Context awareness enhances the ability of systems to adapt and react to changing conditions in real-time. Big data analytics, facilitated by technologies like SCADA systems and Industrial IoT (IIoT), enable comprehensive data collection and analysis across various industries such as the semiconductor & electronics industry, energy & power industry, pharmaceuticals industry, automotive industry, Information technology industry, automobile indstry, Heavy metals and machinery manufacturing industry, and food & beverage industry. These analytics provide valuable insights into production processes, performance metrics, and predictive maintenance, driving operational efficiency and quality improvements.

By Component

The industrial sensor segment will notably expand its market share in the forecast period. These sensors detect and measure physical objects and are integral to the IoT ecosystem. Smart sensors enhance wireless connectivity among devices through electronic integration. IoT (Internet of Things) gateway solutions establish flexible OS-based infrastructures, while network management software handles cloud and radio network analytics. Near-field communication (NFC) technology facilitates radio communication between smart devices.

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The industrial sensors segment was valued at?USD 28.29 billion?in 2017 and continued to grow by 2021. Innovations in machine vision and safety sensors is seen over the years, along with powerful onboard computers, which have been used in autonomous robots to increase their efficiency by helping them to understand their operating environment better. The forecast period will see innovations in nanotechnologies owing to which will increase the further miniaturization of sensors, due to this leading to a reduction in the cost of hardware is seen. These factors will drive the demand for the segment and also the growth of the global smart factory market during the forecast period.

Regional Analysis

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North America is estimated to contribute 41% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Due to the emergence of the concept of Industry 4.0, the use of IoT (Internet of Things), cloud computing, and automation in the industrial sector, is the major driver of the smart factory market in North America. In North America, the demand for smart factory solutions from the oil and gas industry will increase owing to the starting of several new chemical and petrochemical projects in the region.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd.: The company offers smart-factories such as ABB Ability Smart Factory solutions for enhanced automation, control, and optimization of manufacturing processes.

Cisco Systems Inc.: The company offers smart-factories such as Cisco Connected Factory solutions for secure and scalable connectivity in industrial environments.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

  • Azbil Corp.
  • Dassault Systemes SE
  • Emerson Electric Co.
  • FANUC Corp.
  • FUJI Corp.
  • General Electric Co.
  • Honeywell International Inc.
  • Johnson Controls International Plc
  • Microsoft Corp.
  • Mitsubishi Electric Corp.
  • Oracle Corp.
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • SAP SE
  • Schneider Electric SE
  • Siemens AG
  • Yokogawa Electric Corp.
  • Endress Hauser Group Services AG

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis. 

Market Analyst Overview

The market is experiencing exponential growth driven by advancements in technology such as deep learning, computer vision, and natural language processing (NLP). These innovations enable enhanced context awareness and efficient utilization of big data in various industries including the industrial IoT (IIoT), semiconductor & electronics industry, energy & power industry, Information technology industry, pharmaceuticals industry, metal & mining industry, automobile industry, and Heavy metals and machinery manufacturing industry. They leverage cutting-edge technologies to optimize processes in the food & beverage industry and ensure seamless data collection. With substantial capital investments in advanced machinery and IT infrastructure, these factories integrate smart field devices and utilize modern communication technologies like 5G technology. However, they must also contend with the threat of cyberattacks, necessitating robust computerized maintenance management systems (CMMS) for security.

The market is witnessing rapid evolution driven by technological innovations such as manufacturing execution systems (MES), augmented reality, and virtual reality. With the integration of machine learning and Artificial intelligence (AI), smart factories are revolutionizing the automotive industry and various sectors. Companies like Qualcomm are pioneering the implementation of the Internet of Things (IoT), while government initiatives emphasize compliance and standards adherence. Segments like discrete control systems and 3D printing are flourishing alongside industries such as aerospace & defense, leveraging networked devices and advanced production systems. Real-time data analytics enable self-optimizing equipment, enhancing overall organization and manufacturing methods for increased efficiency and competitiveness.

Segment Overview

This market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

  • Component Outlook 
    • Industrial sensors
    • Industrial robots
    • Industrial 3D printers
    • Machine vision systems
  • Solution Outlook 
    • SCADA
    • MES
    • DCM
    • PLC
    • PLM
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Scope

Report Coverage

Details

Page number

178

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.26%

Market growth 2023-2027

USD 73.68 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

8.77

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key countries

US, China, Japan, UK, and Germany

Competitive landscape

 Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Azbil Corp., Cisco Systems Inc., Dassault Systemes SE, Emerson Electric Co., FANUC Corp., FUJI Corp., General Electric Co., Honeywell International Inc., Johnson Controls International Plc, Microsoft Corp., Mitsubishi Electric Corp., Oracle Corp., Robert Bosch GmbH, Rockwell Automation Inc., SAP SE, Schneider Electric SE, Siemens AG, Yokogawa Electric Corp., and Endress Hauser Group Services AG

Market dynamics

Parent market trends and analysis, Market growth and trends and inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period.
  • Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
  • Precise estimation of the market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Market growth analysis across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Market forecasting of factors that will challenge the growth of the key market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Solution
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global smart factory market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global smart factory market 2017 - 2021 ($ billion)
    • 4.2 Components Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Components Segment 2017 - 2021 ($ billion)
    • 4.3 Solution Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Solution Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Component

    • 6.1 Market segments
      • Exhibit 30: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
    • 6.2 Comparison by Component
      • Exhibit 32: Chart on Comparison by Component
      • Exhibit 33: Data Table on Comparison by Component
    • 6.3 Industrial sensors - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Industrial sensors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Industrial sensors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Industrial sensors - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Industrial sensors - Year-over-year growth 2022-2027 (%)
    • 6.4 Industrial robots - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Industrial robots - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Industrial robots - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Industrial robots - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Industrial robots - Year-over-year growth 2022-2027 (%)
    • 6.5 Industrial 3D printers - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Industrial 3D printers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Industrial 3D printers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Industrial 3D printers - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Industrial 3D printers - Year-over-year growth 2022-2027 (%)
    • 6.6 Machine vision systems - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Machine vision systems - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on Machine vision systems - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on Machine vision systems - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Machine vision systems - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Component
      • Exhibit 50: Market opportunity by Component ($ billion)
      • Exhibit 51: Data Table on Market opportunity by Component ($ billion)

    7 Market Segmentation by Solution

    • 7.1 Market segments
      • Exhibit 52: Chart on Solution - Market share 2022-2027 (%)
      • Exhibit 53: Data Table on Solution - Market share 2022-2027 (%)
    • 7.2 Comparison by Solution
      • Exhibit 54: Chart on Comparison by Solution
      • Exhibit 55: Data Table on Comparison by Solution
    • 7.3 SCADA - Market size and forecast 2022-2027
      • Exhibit 56: Chart on SCADA - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Data Table on SCADA - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 58: Chart on SCADA - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on SCADA - Year-over-year growth 2022-2027 (%)
    • 7.4 MES - Market size and forecast 2022-2027
      • Exhibit 60: Chart on MES - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Data Table on MES - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 62: Chart on MES - Year-over-year growth 2022-2027 (%)
      • Exhibit 63: Data Table on MES - Year-over-year growth 2022-2027 (%)
    • 7.5 DCM - Market size and forecast 2022-2027
      • Exhibit 64: Chart on DCM - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Data Table on DCM - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Chart on DCM - Year-over-year growth 2022-2027 (%)
      • Exhibit 67: Data Table on DCM - Year-over-year growth 2022-2027 (%)
    • 7.6 PLC - Market size and forecast 2022-2027
      • Exhibit 68: Chart on PLC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 69: Data Table on PLC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Chart on PLC - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on PLC - Year-over-year growth 2022-2027 (%)
    • 7.7 PLM - Market size and forecast 2022-2027
      • Exhibit 72: Chart on PLM - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 73: Data Table on PLM - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Chart on PLM - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on PLM - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by Solution
      • Exhibit 76: Market opportunity by Solution ($ billion)
      • Exhibit 77: Data Table on Market opportunity by Solution ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 79: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 80: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 81: Chart on Geographic comparison
      • Exhibit 82: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 88: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 89: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 91: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 92: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 93: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 95: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 96: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 97: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 99: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 100: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 101: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 107: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 108: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 109: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 110: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 111: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 112: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 113: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 114: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 119: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 120: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 121: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 122: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 123: Market opportunity by geography ($ billion)
      • Exhibit 124: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 125: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 127: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 128: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 129: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 130: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 131: ABB Ltd. - Overview
              • Exhibit 132: ABB Ltd. - Business segments
              • Exhibit 133: ABB Ltd. - Key offerings
              • Exhibit 134: ABB Ltd. - Segment focus
            • 12.4 Cisco Systems Inc.
              • Exhibit 135: Cisco Systems Inc. - Overview
              • Exhibit 136: Cisco Systems Inc. - Business segments
              • Exhibit 137: Cisco Systems Inc. - Key news
              • Exhibit 138: Cisco Systems Inc. - Key offerings
              • Exhibit 139: Cisco Systems Inc. - Segment focus
            • 12.5 Dassault Systemes SE
              • Exhibit 140: Dassault Systemes SE - Overview
              • Exhibit 141: Dassault Systemes SE - Product / Service
              • Exhibit 142: Dassault Systemes SE - Key news
              • Exhibit 143: Dassault Systemes SE - Key offerings
            • 12.6 Emerson Electric Co.
              • Exhibit 144: Emerson Electric Co. - Overview
              • Exhibit 145: Emerson Electric Co. - Business segments
              • Exhibit 146: Emerson Electric Co. - Key news
              • Exhibit 147: Emerson Electric Co. - Key offerings
              • Exhibit 148: Emerson Electric Co. - Segment focus
            • 12.7 General Electric Co.
              • Exhibit 149: General Electric Co. - Overview
              • Exhibit 150: General Electric Co. - Business segments
              • Exhibit 151: General Electric Co. - Key news
              • Exhibit 152: General Electric Co. - Key offerings
              • Exhibit 153: General Electric Co. - Segment focus
            • 12.8 Honeywell International Inc.
              • Exhibit 154: Honeywell International Inc. - Overview
              • Exhibit 155: Honeywell International Inc. - Business segments
              • Exhibit 156: Honeywell International Inc. - Key news
              • Exhibit 157: Honeywell International Inc. - Key offerings
              • Exhibit 158: Honeywell International Inc. - Segment focus
            • 12.9 Johnson Controls International Plc
              • Exhibit 159: Johnson Controls International Plc - Overview
              • Exhibit 160: Johnson Controls International Plc - Business segments
              • Exhibit 161: Johnson Controls International Plc - Key news
              • Exhibit 162: Johnson Controls International Plc - Key offerings
              • Exhibit 163: Johnson Controls International Plc - Segment focus
            • 12.10 Microsoft Corp.
              • Exhibit 164: Microsoft Corp. - Overview
              • Exhibit 165: Microsoft Corp. - Business segments
              • Exhibit 166: Microsoft Corp. - Key news
              • Exhibit 167: Microsoft Corp. - Key offerings
              • Exhibit 168: Microsoft Corp. - Segment focus
            • 12.11 Mitsubishi Electric Corp.
              • Exhibit 169: Mitsubishi Electric Corp. - Overview
              • Exhibit 170: Mitsubishi Electric Corp. - Business segments
              • Exhibit 171: Mitsubishi Electric Corp. - Key news
              • Exhibit 172: Mitsubishi Electric Corp. - Key offerings
              • Exhibit 173: Mitsubishi Electric Corp. - Segment focus
            • 12.12 Oracle Corp.
              • Exhibit 174: Oracle Corp. - Overview
              • Exhibit 175: Oracle Corp. - Business segments
              • Exhibit 176: Oracle Corp. - Key news
              • Exhibit 177: Oracle Corp. - Key offerings
              • Exhibit 178: Oracle Corp. - Segment focus
            • 12.13 Robert Bosch GmbH
              • Exhibit 179: Robert Bosch GmbH - Overview
              • Exhibit 180: Robert Bosch GmbH - Business segments
              • Exhibit 181: Robert Bosch GmbH - Key news
              • Exhibit 182: Robert Bosch GmbH - Key offerings
              • Exhibit 183: Robert Bosch GmbH - Segment focus
            • 12.14 Rockwell Automation Inc.
              • Exhibit 184: Rockwell Automation Inc. - Overview
              • Exhibit 185: Rockwell Automation Inc. - Business segments
              • Exhibit 186: Rockwell Automation Inc. - Key news
              • Exhibit 187: Rockwell Automation Inc. - Key offerings
              • Exhibit 188: Rockwell Automation Inc. - Segment focus
            • 12.15 SAP SE
              • Exhibit 189: SAP SE - Overview
              • Exhibit 190: SAP SE - Business segments
              • Exhibit 191: SAP SE - Key news
              • Exhibit 192: SAP SE - Key offerings
              • Exhibit 193: SAP SE - Segment focus
            • 12.16 Schneider Electric SE
              • Exhibit 194: Schneider Electric SE - Overview
              • Exhibit 195: Schneider Electric SE - Business segments
              • Exhibit 196: Schneider Electric SE - Key news
              • Exhibit 197: Schneider Electric SE - Key offerings
              • Exhibit 198: Schneider Electric SE - Segment focus
            • 12.17 Siemens AG
              • Exhibit 199: Siemens AG - Overview
              • Exhibit 200: Siemens AG - Business segments
              • Exhibit 201: Siemens AG - Key news
              • Exhibit 202: Siemens AG - Key offerings
              • Exhibit 203: Siemens AG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 204: Inclusions checklist
                • Exhibit 205: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 206: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 207: Research methodology
                • Exhibit 208: Validation techniques employed for market sizing
                • Exhibit 209: Information sources
              • 13.5 List of abbreviations
                • Exhibit 210: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  Research Framework

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                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

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                  • Government data
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                  • Historical data
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                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

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                  REPORT WRITING

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                  • Market trends
                  • Five forces analysis

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