Tech Smashing for Big Profits: Smart Factory Industry in North America

North America witnessed a strong growth in 2015, as the number of industrial applications increased in automotive, oil & gas, and other sectors.

Dallas, United States - July 6, 2017 /MarketersMedia/ —

The North American smart factory market was valued at USD 59.11 billion in 2016 and is projected to reach USD 96.77 billion by 2022, registering a CAGR of 8.74%, during 2016-2022 (the forecast period).

The combination of digital and physical worlds has revolutionized the automation industry, thereby, enabling optimum performance. Major manufacturing companies, at present, are capable of achieving zero production waste, and shorter time to market. Effortless monitoring and reduction of waste and speed of production are some of the factors accelerating the North American smart factory market.

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North American Smart factory, by Products

Based on products, the market is segmented into machine vision (MV) systems, industrial robotics, control devices, sensors, communication technologies, and others. North American MV systems can be classified on the basis of products used for inspection, monitoring, and other purposes. Moreover, the image processing and outputs of each product vary accordingly, along with the level of sophistication required for its setup.

The industrial robotics market is expected to have a significant share of the North American smart factory market, due to the increasing advantages of automation. Industrial robots provide a wide range of benefits, such as increased efficiency, improved safety, optimized cost, fast processes speed, and increased reliability.

Read more details of the research report at: North America Smart Factory Market - By Products, Technology, End-Users, Region, Trends, Forecast (2017-2022)

The increasing requirement for automation has spurred the demand for industrial robotics.

• The control devices segment is driven by factors, such as
• Increasing need for advanced technologies across various industries
• Integration of safety devices
• Increasing investment in manufacturing industries and augmenting complexity in electronics & semiconductors
• Growing demand from semiconductor, automotive, packaging and assembly industries

The North American market for smart factory is segmented, based on the sensors type, into proximity sensor, position or velocity sensor, force or pressure sensor, and vibration or acceleration sensor. These sensors collect data related to machines’ condition and environment, thus, are used in controlling and optimizing the entire process.

Technological innovations have improved the capabilities of sensors in many folds; moreover, this increasing trend is expected to accelerate the market growth. The market for machine condition monitoring is also growing with the increasing awareness on the subject. In addition, the communication segment has been sub-segmented into wireless communication technologies and wired communication technologies. Wired communication technologies sub-segment held the largest market share, whereas the wireless communication technologies sub-segment is expected to witness the highest growth rate, during 2017-2022 (the forecast period).

North American Smart factory, by Technology

Based on the technology segment, ERP systems held the largest market share in 2016, followed by DCS and PLM. HMI systems are expected to witness the fastest growth in this segment. Moreover, PLM systems are anticipated to witness a significant demand growth, followed by MES, and others, during 2017-2022 (the forecast period). HMI systems are used in process control, factory floor, machines, portable handheld devices, etc. This technology is used in various appliances, automotive, medical, vending machines, digital signage, building & industrial automation. Increasing complexity of various systems and machines, coupled with the need to reduce risks & costs, is expected to drive the HMI systems market. With the increasing importance of synchronizing and supplementing among organizations’ business processes, the demand for ERP solutions is expected to bolster the market.

The demand for MES among industries is rising, as using them in the manufacturing unit, the standard of production is developing; moreover, the rate of production has also been increasing. Further, the product quality has improved because of the latest and modern technologies of the MES system. Improvements in supplier and inventory management are being witnessed, further, encouraging most of the industries to implement the MES system in their manufacturing units. The DCS applications are included in heavily established manufacturing facilities, attractive outlook for renewable & nuclear sectors, increasing production of chemicals, therefore, are to drive the market, during 2017-2022 (the forecast period)

The SCADA market for the oil & gas sector is expected to grow because of the advanced functional features of modern SCADA systems that facilitate the up-stream development and new production. Moreover, SCADA systems are enabling energy companies to operate in the remote and hostile environments. With the discovery of shale formations, the unconventional gas and crude oil supplies have experienced an unprecedented pace. Further, the increased requirement to reduce machine downtime and growing adoption of automation are the driving factors responsible for the growth of PLC market, thus accelerating the North America smart factory market, during 2017-2022 (the forecast period).

Notable Market Developments

• ABB acquired Svia Automation Solutions to expand ABB’s portfolio of advanced and vision integrated applications, which benefits original equipment manufacturers (OEM), and computer numeric control (CNC).
• Cognex acquired two 3D vision companies, E.N. Snape and AQSense, to expand its 3D vision capabilities
• GE and Reliance Industries have formed a partnership to drive digital transformation in the industrial world
• Schneider Electric and the CoSMo Company signed a partnership agreement to optimize their asset management
• Bosch and IBM agreed to cooperate with each other for the development of IoT and Industry 4.0.

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• Market trends & dynamics
• Latest News & developments
• Porter’s five force analysis
• Segmentation by products, technology, industrial Verticals
• Investment analysis
• Deep-dive insights

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