QYR Market Research Global Smart Factory Market Research | Page 4

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North America was the largest market with a market share of 29.09% in 2012
and 26.56% in 2017 with an increase of 2.53%. Europe and China ranked the
second and third markets with the market share of 26.50% and 18.92% in 2016.
The smart factory market has been increased in accordance with the
development of whole economy, technology and emerging application and the
whole world response to the industry 4.0. What is more, continuous
advancement in machine intelligence and internet is expected to bring about a
fourth industrial revolution, expected to offer a wide range of benefits,
including greater efficiency, flexibility, and safety. So, we will see a fast
growth rate of the market. What more, there are some problems to be solved
ahead, such as the whole supply chain, the whole eco-system, the fierce
competition, the high cost, the international standard and so on.
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