(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 03:33 /Comserve / -- MarkNtel Advisors research report,“Global Smart Factory and Manufacturing Market Analysis, 2021,” the market is likely to grow at a CAGR of 9.7% in the forecast period of 2021-26.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
According to the MarkNtel Advisors research report,“Global Smart Factory and Manufacturing Market Analysis, 2021” the market is likely to grow at a CAGR of 9.7% in the forecast period of 2021-26. The factors propelling the market growth at such a pace include the evolution of the Internet of Things, the rising use of technologies in manufacturing industries, expanding adoption of automated robots in the industrial sector, and the mass production of facilities to fulfill the needs of the mounting population.
The COVID-19 outbreak triggered the Global Smart Factory and Manufacturing Market severely in many ways. The pandemic made the governments worldwide impose the lockdown phase, resulting in the shutdown of manufacturing units, thereby restricting trade flow. Besides, after the gradual upliftment of restrictions, they had to start from the beginning, adapting improvised production techniques, digital transformation, and various Smart manufacturing practices to get along with the new normal. In this tight situation, the companies continue to implement multiple new and flexible approaches to observe the product supply and ensure quality checks. Hence, with these aspects, the market is reviving and is likely to regain its pace in the forecast years.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Smart Factory And Manufacturing Market Future Growth, and Revenue Forecast, (2021-2026)
Manufacturing Execution System to Witness the Fastest Market Growth
Based on the Application, the Manufacturing Execution System (MES) is likely to amplify at a firm speed in the coming period, owing to the rapidly growing demand for unifying business data & monitoring multi-plant services with the help of real-time data interpretation. Moreover, the increasing demand from small and medium-sized enterprises for other industrial segments is another crucial factor supporting the market growth.
Industrial Internet of Things to Witness Exponential Growth in The Forecast Period
Amongst various technologies, the Industrial Internet of Things (IIOT) segment is likely to witness exponential market growth in the coming years. The factors contributing to the segment growth are the extensive adoption of advanced solutions by manufacturers to intensify quality, operational excellence, visibility, and reduce the data process time.
Moreover, the increasing usage of smart factories in numerous industries is surging the demand & supply chains, causing cost reduction and extended reachability, thereby fueling the overall market growth, states MarkNtel Advisors in their research report,“Global Smart Factory and Manufacturing Market Analysis, 2021.”
Asia-Pacific Is Likely to Witness Robust Market Growth
The Asia-Pacific market is likely to witness the fastest growth in the Global Smart Factory and Manufacturing Market in the forecast period of 2021-26. The robust market growth is primarily due to the rapid advancements, technological developments, and the increasing adoption of automotive technology across different industries. Furthermore, the burgeoning demand for manufacturing & supply shall also propel the market growth. Therefore, based on these aspects, the APAC region shall fuel the overall market growth in the coming years.
Fill This Form and get the Sample Copy of This Report:
The Final Report will cover the impact analysis of COVID-19 on this industry: Global Smart Factory And Manufacturing Market Future Growth, and Revenue Forecast, (2021-2026)
The growing investments in automation (in electrical & electronics, automotive, metals & machinery industries), miniaturization of sensors, and the expanding demand for industrial robotics systems across many countries are the most prominent factors likely to exponentially drive the Global Smart Factory and Manufacturing Market growth in the forecast period. Moreover, the surging demand for industrial sensors is another critical aspect that shall further boost the market in the coming years.
According to MarkNtel Advisors, the major leading players in the Global Smart Factory and Manufacturing Market are IBM, Thales, BAE Systems PLC, Senseye, Oden, Aclima, Neiker-Tecnalia, Festo, Seimens, Upskill, Teska Labs, Sick AG, LMI Technologies, Oracle, etc.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Smart Factory and Manufacturing Market?
2. What is the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Smart Factory and Manufacturing Market?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Market Segmentation
1.4. Assumptions
2. Preface
3. Executive Summary
4. Impact of COVID-19 on Global Smart Factory and Manufacturing Market
5. Impact of IOT & AI on Global Smart Factory and Manufacturing Market
6. Global Smart Factory and Manufacturing Market Trends & Insights
7. Global Smart Factory and Manufacturing Market Dynamics
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