Europe Smart Factory Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Smart Factory refers to the industrial digitalisation by combining emerging technologies such as machine learning, artificial intelligence, internet of things, machine-to-machine communication, and automation to produce more efficient throughput.
Europe Smart Factory Market Segments Size & Growth:
Europe Smart Factory Market is accounted for $XX billion in 2017 and expected to grow at a CAGR of XX% to reach $XX billion by 2024 during the forecast period 2018-2024. Major factors that are driving the market growth by an increase in usage of technology and demand for industrial robots. Though, Increase in capital expenditure hamper the growth of the Europe Smart Factory market.
Europe Smart Factory Market Segments Share:
Europe Smart Factory market is categorised into by-product which consists of sensors, control devices, industrial robotics, machine vision systems, communication technologies, and wireless technologies. Industrial robotics is expected to grow at a quick pace due to increase in productivity, reduce errors and improve production volume. By technology, it is classified by the distributed control system, programmable logic controller, supervisory control and
Europe Smart Factory Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
data acquisition, human-machine interface, manufacturing execution system, product lifecycle management, and enterprise resource planning. The distributed control system is the leading market owing to the finest control and helps in real-time monitoring. By end-user, it is segmented as automotive, electrical & electronics, oil & gas, chemical & petrochemical, manufacturing, aerospace, defence, pharmaceuticals, food & beverages, mining & metals, pulp & paper, and some others. The automotive industry is projected to have a significant growth because of the employment of automation for better productivity and to cut the operational cost.
By Geography, Germany is dominating the growth of the Europe Smart Factory market and the growth in Europe is mainly attributed because of the technological innovations and rapid increase in adoption of the automotive sector. Furthermore, UK is witnessing the fastest growth during the forecast period, due to investments in digitalisation of automotive industries and emerging technologies.
Europe Smart Factory Market Segments Trends:
- In January 2018, Honeywell has launched an Indoor navigation app
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Europe Smart Factory Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
which is known as “Honeywell Vector Occupant App” to have control over the building.
In April 2017, Cognex Corporation has launched a novel vision system which is the second generation of In-Sight 7000 series for flexible and easy integration.
Europe Smart Factory Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Robert Bosch GmbH
- ABB (ASEA BROWN BOVERI) Ltd.
- Siemens AG
- Cognex Corporation
- Rockwell Automation, Inc.
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