Zion Market Research Global Smart Factory Market, 2015–2021 | Page 3

Smart Factory Market
machines are connected to each other and its users, this reduces time wastage and
decisions can be taken in real-time. Additionally, manufacturing can be done smoothly
without any disturbance as the entire process is digitized. All these advantages are forcing
industries to have smart factories.
This trend is of substantial value in industries such as transportation, packaging, oil, mining
of minerals, and others. Hence, companies all over the world are investing in this untapped
industry. However, lack trained man force and growing skill gap factors hindering the growth
of the global smart factory market.
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The global smart factory market is segmented on the basis of products, end-users,
technology, and region. On the basis of products, the global market is segmented as
industrial robotics, control devices, machine vision system, communication technology, and
sensors. Industrial robotics and machine vision system are dominating the market. On the
basis of end-users, the global market is segmented as chemical & petrochemical,
aerospace, oil & gas, automotive, mining, defense, and others. Of which, the chemical &
petrochemical segment is leading the market followed by oil and gas. On the basis of
technology, the global smart factory market is divided as production lifecycle management,
enterprise resource planning, distributed control system, programmable logic controller, and
others.