Growth in Adoption of Internet of Things (IoT) Technologies Expected to Drive Europe Smart Factory Market: Ken Research

Smart factory refers to a variety of fully integrated automation solutions adopted for manufacturing the facilities that displays various manufacturing & technological advancement, high-tech devices and perfect assimilation of high-tech machinery. It is a developed factory system that forms cyber-physical systems permitting well-organized movement of materials across the factory floor. Key advantages obtained from the smart factory include improved quality of products, enhanced efficiency of the manufacturing process and reduction in the operational & manufacturing cost etc.

As per analysis, “Europe Smart Factory Market 2020-2026 by Component, Product (Industrial 3D Printing, Sensors, Machine Vision, Industrial Robots, Industrial Network, Control Devices), Technology, End User, and Country: Trend Forecast and Growth Opportunity” renowned companies operating in the Europe smart factory industry are Danaher Corporation, FLIR Systems Inc., Emerson Electric Co., Genmark Automation, Inc., Fanuc Corp., Epson Robotics, General Electric Co., Johnson Controls Inc, Hitachi, Ltd., Kuka Aktiengesellschaft, Adept Technology Inc., Ellison Technologies Inc., Kawasaki Robotics Inc., Honeywell International Inc., Metso Corporation, Konux Inc., Nachi Fujikoshi Corp., Omron Corporation, Mitsubishi Electric Corp., Cognex Corporation, Cisco Systems, Inc., ABB Ltd., NovaTech Process Solutions LLC, Daihen Corp., ATOS SE, Nextnine Ltd, Oracle Corporation, Robert Bosch GmbH, Panasonic Corporation (Activelink), Rethink Robotics, Inc., Samsung Electronics, Pari Robotics, Schneider Electric SE, Rockwell Automation Inc, Toshiba Machine Co., Ltd., Siemens AG, Yamaha Robotics, Yokogawa Electric Corporation, Wipro Limited, Universal Robots, Yaskawa Electric Corp. and among others.

By component, Europe smart factory market is bifurcated as hardware, software and services. By product, market is bifurcated as machine vision (cameras, enclosures, processors, software, integration services, frame grabbers, lighting and others), industrial network (wired & wireless network and RFID system), industrial robots (SCARA robots, delta/parallel robots, Cartesian/gantry/rectangular arm robots, articulated robots, cylindrical robots, collaborative robots and others) and control devices (servo motors & drivers and relays & switches). By technology, market is bifurcated as Distributed Control System (DCS), Programmable Logic Controller (PLC), Product Life Cycle Management (PLM), Supervisory Control and Data Acquisition (SCADA), Human-Machine Interface (HMI), Plant Asset Management (PAM), Manufacturing Execution System (MES), Enterprise Resource Planning (ERP) and others. Additionally, by end user, market is bifurcated as metals & mining, automotive, food & beverage, semiconductor & electronics, chemical & petrochemical, oil & gas, pharmaceutical and other end-user.

Growth in popularity of enhanced factory technologies, rapidly developing manufacturing sector, increase in government initiatives for supporting innovation, growth in adoption of block chain technology in supply chain management, rise in demand for automated system and growth in small & medium enterprises are some of the major factors, which are responsible for growth of the Europe smart factory market. Apart from this, safety hazards associated with the usage of industrial robots and high initial investments required in setting up smart factories are hindering factors for market.

It is estimated that the Europe smart factory market will be reached at rapid pace on account of increase in demand for technologically advanced production systems and growth in adoption of digitized supply chain management options across all major industries during the forecast period.

For More Information, click on the link below:-

Europe Smart Factory Market Research Report

Related Report:-

Global Smart Factory Market 2020-2026 by Component, Product (Industrial 3D Printing, Sensors, Machine Vision, Industrial Robots, Industrial Network, Control Devices), Technology, End User, and Region: Trend Forecast and Growth Opportunity

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