The size of the global smart factory market is anticipated to grow from USD 140.7 billion in 2023 to USD 388.7 billion by 2033. During this forecast period, this market is expected to soar at a stellar CAGR of 10.7%.
A rise in the use of intelligence technologies across several industries has led to the rise of smart factories in recent years. Industrialization levels have increased significantly over time in a broad range of locations. The smart factory market is likely to see praiseworthy growth due to the improving industrial prospects and technical advancements in manufacturing facilities.
Increasing focus on resource utilization, cost reduction in industrial operations, and energy efficiency are some of the major market drivers. Smart factories are becoming popular as a result of the growing demand for industrial robots, IoT, and AI in the industrial environment.
The rising proliferation of Industry 4.0 in the industrial sector is propelling demand for smart factories. Rapid technological advancements and digital trends such as industrial IoT (Internet of Things), 5G, etc., are anticipated to boost the establishment of smart factories across the world.
The benefits of remote and off-site operational work are vast and constantly expanding. They include safety, flexibility, and convenience. Facilities continue to explore ways to integrate even more remote access into their operations, including cloud-based technology, storage, and analysis. This is likely to drive the smart factory market.
Many industrialists and manufacturers are using smart technology for a range of operations as a result of the quick viral transmission caused by frequent human interaction. These processes ensure very little to no human contact. Thus, all of these factors indicate that the market for smart factories will continue to grow.
Demand for industrial robots, which is a part of smart factories, is being driven by several reasons. Some of the important reasons are expanding investments in automation, shrinking sensor size, and rising industrial robotics system demand in developing nations. The deployment of industrial robots has expanded as the need for automation has grown across sectors. Consequently, the development of the electronics sector and the skyrocketing labor wages in production are anticipated to raise demand for industrial robots. Therefore, the world is likely to witness a lift in the smart factory market.
For many years, the manufacturing industry has seen a growth in sensor technology. When sensors are adopted more widely and at a more affordable price point in 2022, a critical mass breakthrough is likely to occur. As more facilities are adopting sensors to provide continuous, real-time machine health and condition monitoring, the need for smart factory solutions is expected to rise.
Numerous businesses provide industrial automation solutions for various processes and distinct sectors. Furthermore, by largely concentrating on the sale through solution providers, the intelligent framework of business units delivers software and hardware technology solutions. These are stimulating the demand for smart factories.
| Attributes | Details |
|---|---|
| Smart Factory Market Base Year Value (2022) | US$ 127.2 billion |
| Smart Factory Market Value (2023) | US$ 140.7 billion |
| Smart Factory Market Absolute Dollar Growth (US$ million/billion) | US$ 248.0 billion |
| Smart Factory Market Expected Value (2033) | US$ 388.7 billion |
| Smart Factory Market Projected CAGR (2023 to 2033) | 10.7% |
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The proliferation of technology in all walks of life has increased exponentially over the past few years and this trend is expected to significantly influence the smart factory market potential in coming years as well. Demand for smart factories rose at a high CAGR of 10.0% from 2017 to 2022.
As per FMI, together with technology like Machine Learning(ML), Artificial Intelligence (AI) is prepared to fulfill the promise of years of gradual acceptance. The industrial sector is deploying smart factory solutions to estimate and plan maintenance, production capacity, inventories, sales, and other factors more precisely.
Short Term (2023 to 2026): A convergence of manufacturing and technology advancements are highlighted by an increase in the usage of high-tech tools and machines. Additionally, there is an industrial movement toward the cyber world and the connectivity of every link in the value chain. This enables informed manufacturing with no delays or faults. The aforementioned elements are anticipated to drive the market for smart factories.
Medium Term (2026 to 2029): As technological proliferation increases, manufacturers are focusing on smart manufacturing and automation solutions to minimize costs and optimize the revenue generation potential of their businesses. Increasing digitization and the popularity of cloud technologies are anticipated to boost demand for smart factories as a service.
Long Term (2029 to 2033): High labor expenses, increasing demand for automation, rapid technological advancements, supportive government initiatives, increasing manufacturing sectors in emerging economies, rising adoption of industry 4.0, and increasing adoption of industrial IoT components are some major factors that are anticipated to sculpt demand for smart factories through 2033.
On the back of these traits, the smart factory market is expected to develop almost 2.8X between 2023 and 2033. The market across the world is projected to rise at a phenomenal CAGR of 10.7% from 2023 to 2033.
Rising Adoption of Industry 4.0 to Majorly Influence Market Demand
Smart industries enable manufacturers to deploy manufacturing solutions that optimize their output and maximize their revenue potential. Industry 4.0 has revolutionized the production capacity of multiple facilities as it enables the implementation of smart manufacturing and automation solutions.
Multiple initiatives from smart factory companies, government, and non-government organizations are working on advancing the adoption of industry 4.0 on a global scale.
Industrial IoT to Bolster Establishment of Smart Industries
Smart factories of the future are being based on technologies like big data and 5G which are gaining popularity owing to increasing advancements and adoption in the manufacturing landscape. Industrial IoT (Internet of Things) is also a major trend that is transforming manufacturing, supply chain management, and other aspects of smart industries.
There has been a substantial increase in the adoption of industrial IoT components as industry 4.0 is pacing to rise.
The Application of Augmented Reality for Boosting Productivity Levels in Industrial Operations
Augmented reality (AR) improves how a real-world scenario is perceived and presented. It is made by applying digital data to an image of almost anything that is being seen through a suitable device employing technology. Any smart goggles, HMI, or smartphone camera could be this device. These devices are typically voice-activated, allowing the user to operate them without using their hands.
Engineers can design a complete AR experience owing to the convergence of machine learning and physics-based modeling. On the production floor, this demonstrates to technicians how to service a machine. On the factory floor, businesses are utilizing AR more frequently to increase production activity and enhance the manufacturing process.
Principal Consultant
| Region | North America |
|---|---|
| Country | United States |
| CAGR (2023 to 2033) | 11.8% |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR (2023 to 2033) | 10.7% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 8.6% |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR (2023 to 2033) | 8.8% |
| Region | Asia Pacific |
|---|---|
| Country | South Korea |
| CAGR (2023 to 2033) | 10.4% |
Detailed assessment of the smart factory market over regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) has been profiled in this analysis.
North America is anticipated to hold a prominent market share in the global smart factory marketplace. The adoption of smart factories in this region is driven by the presence of major companies and rapid advancements in cloud manufacturing technologies and smart manufacturing solutions.
In industrialized nations like the United States, IoT technologies are resolving the manufacturing sector's manpower issue. As a result, both the federal government and the commercial sector in the USA are investing in Industry 4.0 IoT technology. The goal is to expand American industry, which has been supplanted by China and other nations with low labor costs. So IoT technology is likely to push the United States smart factory market expansion.
| Attributes | Details |
|---|---|
| USA Market Size (2033) | US$ 71.3 billion |
| USA Market Absolute Dollar Growth (US$ million/billion) | US$ 47.9 billion |
| CAGR % 2017 to 2022 | 10.6% |
| CAGR % 2023 to End of Forecast(2033) | 11.8% |
The fourth industrial revolution is about to start in the United States. In this nation, data is used extensively for production while being integrated with several industrial systems all throughout the supply chain. Along with being one of the world's largest marketplaces for automobiles, the nation is home to about 13 significant automakers. One of the main sources of income for the American manufacturing industry is the production of automobiles.
Moreover, the nation is home to several businesses that are progressively implementing automation to improve operations. For instance, Schneider Electric opened the nation's first smart factory to show clients in real time how EcoStruxure architecture and related solutions can improve operational effectiveness and save costs.
The increasing establishment of smart manufacturing factories in the European region is expected to influence demand for smart industries in this region. Demand from the energy and utilities industry is expected to prove a lucrative industry in this region.
The manufacturing sector is a valuable component of the European economy. According to the European Commission, this sector supports over 2 million businesses and close to 33 million jobs. The industrial sector's capacity to deliver high-quality and cutting-edge goods using the most recent ICT developments supports market growth.
| Attributes | Details |
|---|---|
| United Kingdom Market Size (2033) | US$ 14.9 billion |
| United Kingdom Market Absolute Dollar Growth (US$ million/billion) | US$ 9.5 billion |
| CAGR % 2017 to 2022 | 11.6% |
| CAGR % 2023 to End of Forecast(2033) | 10.7% |
The United Kingdom has always maintained its leadership position in manufacturing. The mid-sized firms serve as the foundation of the United Kingdom's industrial base. According to reports, the nation is home to a large number of mid-size manufacturers, the majority of which serve business-to-business industries. The industrial sector's businesses are interested in cutting-edge technology. As a result, the United Kingdom's industrial industry has made significant investments in robots and other kinds of automation.
The use of Industry 4.0 technology and the construction of smart manufacturing enterprises are propelling the growth of the United Kingdom's smart factory market. The United Kingdom debuted its first 5G smart factory in February 2019 that was equipped with sensors and 5G-based technologies. The prevalence of smart factories across the emerging end-use sectors is anticipated to rise as a result of such launches.
East Asia and South Asia are anticipated to be highly lucrative markets for smart factories. This can be attributed to rapid industrialization in these regions which has fuelled industries such as pharmaceuticals, semiconductors, electronics, and automotive. India and China are expected to spearhead smart factory demand in these regions.
China is a well-established manufacturing hub and has a highly lucrative industrial sector for the smart factory market. Smart manufacturing and automation are estimated to see high demand in China over the forecast period. Cloud-based smart factories enabled by 5G technology are expected to see notable demand in China.
| Attributes | Details |
|---|---|
| China Market Size (2033) | US$ 43.6 billion |
| China Market Absolute Dollar Growth (US$ million/billion) | US$ 24.5 billion |
| CAGR % 2017 to 2022 | 8.2% |
| CAGR % 2023 to End of Forecast(2033) | 8.6% |
China smart factory market is anticipated to see an immense growth since the industry 4.0 adoption increases in the industrial sector. Industrial IoT components are also anticipated to see an increase in demand due to increasing automation in smart industries.
Since the announcement of Made in China 2025 in 2015, the smart factory has been a primary concern and a daily debate issue for the whole nation's manufacturing community. China unveiled a five-year plan for smart manufacturing in 2021 intending to boost the technology and market competitiveness of the sector. The country is aiming to fulfill its plan through a new round of intense global competition in advanced manufacturing. The plan promises that large manufacturers will essentially become digital by 2025.
Japan is constructing smart factories with the development of industrial sensors, robotics, machine vision systems, and cellular communications. Japan has led the way in the transition to an automated industrial sector. The adoption of Industrial version 4.0 is accelerating. The nation is becoming a center for producing factory automation goods, which it exports to other Asia Pacific markets. Japanese smart factory market is significant due to the existence of several automakers, the production of electronic goods, and the food processing sector.
| Attributes | Details |
|---|---|
| Japan Market Size (2033) | US$ 36.9 billion |
| Japan Market Absolute Dollar Growth (US$ million/billion) | US$ 21.1 billion |
| CAGR % 2017 to 2022 | 9.2% |
| CAGR % 2023 to End of Forecast(2033) | 8.8% |
Robot and industrial automation system manufacture is dominated by Japan. Japan is a leader in the use of robots and automation in manufacturing processes. The underlying cause of this is its highly developed robotics industry and automation technology. Robotics sector income in Japan is predicted to increase from USD 10.18 billion in 2018 to USD 16.35 billion in 2024, according to the Statistics Bureau of Japan.
Over the past few decades, South Korea has become one of the world's top industrial economies. The nation is in the best possible position to maintain its competitiveness during the Fourth Industrial Revolution. This necessitates the fusion of digital technology and smart production processes. The backbone of the Korean economy is manufacturing, which contributes 30% of the country's GDP and 90% of its exports. The Korean government is advising companies to acclimate to the latest industrial trend of digitalization. Both Korea's private and public sectors have committed to boosting the number of local smart factories.
| Attributes | Details |
|---|---|
| South Korea Market Size (2033) | US$ 37.8 billion |
| South Korea Market Absolute Dollar Growth (US$ million/billion) | US$ 23.7 billion |
| CAGR % 2017 to 2022 | 10.8% |
| CAGR % 2023 to End of Forecast(2033) | 10.4% |
To encourage SME businesses to progress and upgrade automated technologies in 2020, the Korean government invested $414.4 million in R&D initiatives. Consequently, automated production environments that use AI optimization and real-time monitoring via Industrial Internet of Things sensors are becoming common in smart factories. The South Korean company LG Uplus is making further inroads into the nation's industrial sector. Over the next five years, it intends to increase sales of its smart factory-focused business sevenfold.
The manufacturing sector in India has grown exponentially over the past few years, and this can be directly linked to rapid urbanization and industrialization in the nation. The government is supporting manufacturers to deploy smart manufacturing solutions and advancing the industry 4.0 trend by providing subsidies to attract investors. More initiatives like Make in India are expected to boost industrial growth in the country.
Rapid technological advancements in 5G technology and cloud technology are also estimated to boost smart factories as a service demand over the forecast.
| Segment | Component |
|---|---|
| Attributes | Software |
| CAGR % 2017 to 202 | 11.2% |
| CAGR % 2023 to End of Forecast(2033) | 10.6% |
| Segment | End-user |
|---|---|
| Attributes | Discrete Industry |
| CAGR % 2017 to 202 | 10.0% |
| CAGR % 2023 to End of Forecast(2033) | 10.6% |
This segment has a sizable market share, which can be attributed to the discrete manufacturing industry's increasing use of smart factory solutions. Moreover, the need to automate factory production with smart factory software and the rising interest in factory productivity analysis also drives the growth of this segment.
Industry-wide use of automation technology offers design freedom, innovative and integrated safety solutions, and cutting-edge software tools for machine control. This segment offers several benefits, including enhanced sensitivity during data collection, nearly uncompressed transmission, as well as continual and real-time analysis. Different industries often utilize level, temperature, flow, pressure, force, image, gas, and other software sensors.
The discrete manufacturing sector faces several difficulties like workplace interruptions, a lack of IT resources, and a surplus of data without the proper visibility. Discrete manufacturers are addressing these obstacles through the use of Smart Factory innovation and digital transformation. This includes integrated production, cloud-based manufacturing execution, out-of-the-box analytics, enterprise-wide visibility, and mobility.
Discrete manufacturers benefit from the Smart Factory's real-time interactions between people, machines, assets, and systems. Additionally, it provides elements that, when combined, allow systems to control themselves through machine learning and cognitive computing.
Discrete sector businesses now have the storage and processing capacity to gather, analyze, and act on data. The advent of robust yet inexpensive peripheral and cloud computing systems are the underlying reason. In the meanwhile, analytics is increasingly carried out on the edge in controllers, gateways, or tiny data centers housed in buildings.
The adoption of smart factories has been majorly driven by applications in the automotive sector. The automotive sector has been undergoing some major transformations with shifting focus from IC engines to electric vehicles being the mainstream change. Automotive manufacturers are investing in the development of smart manufacturing and automation to reduce operating costs and optimize production.
Currently, the automotive industry sector accounts for 41.3% of the global smart factory industry and is anticipated to maintain this stance through the forecast period as well. The electrical and electronics industry currently holds a market share of 21.4% in the global landscape.
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Software and hardware advancements are being used by new market entrants in the smart factory sector to produce unique products and gain a competitive advantage. Start-up businesses employ a variety of growth tactics to positively influence the development of smart factories and create new technologies to meet the growing demand.
Leading Start-ups to Keep an Eye on
Xometry - United States
A platform for distributed manufacturing on demand is offered by Xometry. The on-demand prototype is offered by the platform employing numerous services, including CNC, sheet metal fabrication, 3D printing, selective laser sintering, injection molding, and more. In addition, it carries industrial raw materials from manufacturers in the aerospace & military, electronics & semiconductors, medical, and other sectors.
Spark Cognition - United States
The business is an AI-based platform that provides solutions for predictive analytics. The product provides analytics based on machine learning that forecast combustion turbine problems and optimizes asset operations. Additionally, it offers business analytics tools, insight into the process to eliminate mistakes, and protection against malware assaults. Manufacturing, defense, aviation, marine, financial services, oil, and gas are just a few of the sectors that employ the product.
There are several significant competitors in the fiercely competitive smart factory market. Few significant competitors now hold the majority of the market share, and market fragmentation is on the horizon. These market leaders are concentrating on growing their consumer base internationally. To enhance their market shares and profitability, these businesses use strategic efforts including mergers and acquisitions, collaborations, and product innovation. Smart factory companies are investing in the research and development of smart manufacturing technologies that utilize industrial IoT components to maximize productivity and efficiency.
ABB is a leader in automation and electrification technologies, creating a future that is more resource-conserving and sustainable. The company's solutions link software and technical expertise to optimize the production, movement, power, and operation of objects.
The biggest industrial manufacturing business in Europe is Siemens AG, a German multinational conglomerate organization. Using creativity and entrepreneurship for the advantage of its clients. Digital Transformation is being led by Siemens.
Digital automation and energy management are two areas of expertise for Schneider Electric SE, a French multinational corporation. Using a combination of energy technologies, real-time automation, software, and services, it addresses homes, buildings, data centers, infrastructure, and industries.
Recent Developments
The smart factory market is worth US$ 140.7 billion in 2023.
The smart factory market size will reach US$ 388.7 billion by 2033.
The smart factory market is estimated to thrive at a 10.7% CAGR from 2023 to 2033.
South Korea’s smart factory market is expected to thrive at a 10.4% CAGR through 2033.
The software segment is projected to expand at a 10.6% CAGR from 2023 to 2033.
1. Executive Summary | Smart Factory Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ million) Analysis, 2017 to 2022 4.2. Current and Future Market Size Value (US$ million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Component 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ million) Analysis By Component, 2017 to 2022 5.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Component, 2023 to 2033 5.3.1. Hardware 5.3.1.1. Industrial Robots 5.3.1.2. Machine Vision Systems 5.3.1.3. Sensors 5.3.2. Services 5.3.2.1. Consulting Services 5.3.2.2. Integration & Deployment Services 5.3.2.3. Support & Maintenance Services 5.3.2.4. Others 5.3.3. Software 5.3.3.1. Distributed Control System 5.3.3.2. ERP 5.3.3.3. Human Machine Interface 5.3.3.4. Industrial 3D Printing 5.3.3.5. Product Life Cycle Management 5.3.3.6. SCADA 5.4. Y-o-Y Growth Trend Analysis By Component, 2017 to 2022 5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ million) Analysis By End User, 2017 to 2022 6.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By End User, 2023 to 2033 6.3.1. Discrete Industry 6.3.2. Process Industry 6.4. Y-o-Y Growth Trend Analysis By End User, 2017 to 2022 6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Industry Vertical 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ million) Analysis By Industry Vertical, 2017 to 2022 7.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Industry Vertical, 2023 to 2033 7.3.1. Aerospace & Defense 7.3.2. Automotive 7.3.3. Electrical & Electronics 7.3.4. Energy & Utilities 7.3.5. Food & Beverages 7.3.6. Healthcare & Pharmaceutical 7.3.7. Others 7.4. Y-o-Y Growth Trend Analysis By Industry Vertical, 2017 to 2022 7.5. Absolute $ Opportunity Analysis By Industry Vertical, 2023 to 2033 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ million) Analysis By Region, 2017 to 2022 8.3. Current Market Size Value (US$ million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia Pacific 8.3.6. Middle East and Africa (MEA) 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 9.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Component 9.2.3. By End User 9.2.4. By Industry Vertical 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Component 9.3.3. By End User 9.3.4. By Industry Vertical 9.4. Key Takeaways 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 10.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Component 10.2.3. By End User 10.2.4. By Industry Vertical 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Component 10.3.3. By End User 10.3.4. By Industry Vertical 10.4. Key Takeaways 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 11.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Benelux 11.2.1.2. France 11.2.1.3. Germany 11.2.1.4. Italy 11.2.1.5. Russia 11.2.1.6. Spain 11.2.1.7. United Kingdom 11.2.1.8. Rest of Europe 11.2.2. By Component 11.2.3. By End User 11.2.4. By Industry Vertical 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Component 11.3.3. By End User 11.3.4. By Industry Vertical 11.4. Key Takeaways 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 12.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Component 12.2.3. By End User 12.2.4. By Industry Vertical 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Component 12.3.3. By End User 12.3.4. By Industry Vertical 12.4. Key Takeaways 13. South Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 13.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. Australia& New Zealand 13.2.1.2. India 13.2.1.3. Indonesia 13.2.1.4. Malaysia 13.2.1.5. Thailand 13.2.1.6. Rest of South Asia Pacific 13.2.2. By Component 13.2.3. By End User 13.2.4. By Industry Vertical 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Component 13.3.3. By End User 13.3.4. By Industry Vertical 13.4. Key Takeaways 14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2022 14.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Turkey 14.2.1.4. Rest of MEA 14.2.2. By Component 14.2.3. By End User 14.2.4. By Industry Vertical 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Component 14.3.3. By End User 14.3.4. By Industry Vertical 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Component 15.1.2.2. By End User 15.1.2.3. By Industry Vertical 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Component 15.2.2.2. By End User 15.2.2.3. By Industry Vertical 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Component 15.3.2.2. By End User 15.3.2.3. By Industry Vertical 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Component 15.4.2.2. By End User 15.4.2.3. By Industry Vertical 15.5. Benelux 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Component 15.5.2.2. By End User 15.5.2.3. By Industry Vertical 15.6. France 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Component 15.6.2.2. By End User 15.6.2.3. By Industry Vertical 15.7. Germany 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Component 15.7.2.2. By End User 15.7.2.3. By Industry Vertical 15.8. Italy 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Component 15.8.2.2. By End User 15.8.2.3. By Industry Vertical 15.9. Russia 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Component 15.9.2.2. By End User 15.9.2.3. By Industry Vertical 15.10. Spain 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Component 15.10.2.2. By End User 15.10.2.3. By Industry Vertical 15.11. United Kingdom 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Component 15.11.2.2. By End User 15.11.2.3. By Industry Vertical 15.12. China 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Component 15.12.2.2. By End User 15.12.2.3. By Industry Vertical 15.13. Japan 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Component 15.13.2.2. By End User 15.13.2.3. By Industry Vertical 15.14. South Korea 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Component 15.14.2.2. By End User 15.14.2.3. By Industry Vertical 15.15. Australia& New Zealand 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Component 15.15.2.2. By End User 15.15.2.3. By Industry Vertical 15.16. India 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Component 15.16.2.2. By End User 15.16.2.3. By Industry Vertical 15.17. Indonesia 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Component 15.17.2.2. By End User 15.17.2.3. By Industry Vertical 15.18. Malaysia 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Component 15.18.2.2. By End User 15.18.2.3. By Industry Vertical 15.19. Thailand 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Component 15.19.2.2. By End User 15.19.2.3. By Industry Vertical 15.20. GCC Countries 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Component 15.20.2.2. By End User 15.20.2.3. By Industry Vertical 15.21. South Africa 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Component 15.21.2.2. By End User 15.21.2.3. By Industry Vertical 15.22. Turkey 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Component 15.22.2.2. By End User 15.22.2.3. By Industry Vertical 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Component 16.3.3. By End User 16.3.4. By Industry Vertical 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. ABB Ltd. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Siemens AG 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Schneider Electric SE 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Rockwell Automation Inc. 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. General Electric Company 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Johnson Controls International PLC 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Yokogawa Electric Corporation 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Honeywell International Inc. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. SAP SE 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Oracle Corporation 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.11. IBM Corporation 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.12. Cisco Systems Inc. 17.1.12.1. Overview 17.1.12.2. Product Portfolio 17.1.12.3. Profitability by Market Segments 17.1.12.4. Sales Footprint 17.1.12.5. Strategy Overview 17.1.12.5.1. Marketing Strategy 17.1.13. Microsoft Corporation 17.1.13.1. Overview 17.1.13.2. Product Portfolio 17.1.13.3. Profitability by Market Segments 17.1.13.4. Sales Footprint 17.1.13.5. Strategy Overview 17.1.13.5.1. Marketing Strategy 17.1.14. Kollmorgen 17.1.14.1. Overview 17.1.14.2. Product Portfolio 17.1.14.3. Profitability by Market Segments 17.1.14.4. Sales Footprint 17.1.14.5. Strategy Overview 17.1.14.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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