Global Smart Factory Market Analysis & Forecast, 2017–2024

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Smart Factory Market Trends, Competitive
Landscape and Key Regions-Global Forecast to
2024 Global Market Insights Inc.
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Regional Analysis of Smart Factory Market

• North America, led by U.S. holds the major share
  of smart factory market. Presence of leading
  players and multinational companies will further
  augment the demand. Increasing research
  development in internet of things (IOT) for
  improved and modern technology are major factors
  driving the product demand in this region.
• Asia Pacific, is foreseen to be largest in smart
  factory market during the predicted timeframe
  owing to high investments in development of
  processing sectors along with favorable
  government regulations and availability of raw
  materials. Growth in pharmaceuticals and IT
  industry is likely to fuel the smart factory
  market demand in this region. For an instance, In
  April 2015, South Korea government has invested
  around USD 12 million in order to promote the
  product concept in this region.

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• Application Analysis of Smart Factory Market
• Expansion of packaging, transportation,
  pharmaceuticals and chemical industries is likely
  to propel the smart factory market owing to its
  immense use in this segment for enhancing the
  productivity without any wastage of time and
  material. Technology and automotive in product
  manufacturing makes the usage of several devices
  including motors, switches, sensors and
  technologies in radio frequency identification,
  manufacturing execution system programmable logic
  control and others are designed in order to meet
  the requirement of manufacturing units.
• Increasing adoption of industrial robots, digital
  transformation and development of internet
  services by manufacturers are the major factors
  which will propel the smart factory market growth
  in future. Industrial evolutions in the
  technology enhancements has resulted in upgraded
  production facility in terms of efficiency couple
  with minimum waste defects.

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Competitive Market Share of Smart Factory Market

• The prominent players of smart factory market
  include Siemens AG, General Electric Company,
  Fanuc Corporation, ABB Ltd., Schneider Electric
  and Honey International Inc.
• Some other notable players in this market
  include Yokogawa Electric Corporation, Kuka
  Aktiengesellschaft, Atos SE, Johnson Controls
  Inc., Emerson Electric Company and Robert Bosch
  GmbH. In April 2017, Honey International Inc,
  introduced a new lightweight satellite
  communication system for cockpit safety in order
  to provide facilities to aviation sector.

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