Smart Factory Global Market
Date: 2/2/2015 The global smart factory market is expected to reach nearly $67 billion by 2020, growing at a CAGR of 6% from 2014 to 2020 The Information and communications technology (ICT) revolution has finally come to factory floors around the world. Today, manufacturing is becoming highly-automated and IT-driven or simply put, “smart.” Every day, advances in modern manufacturing technologies make factories smarter, safer and also more environmentally sustainable. Progressive businesses will strategically investing to transform their operations from cost centers into smart manufacturing profit centers that will dramatically increase their sales. Smarter manufacturing or Smart Factory is the advanced factory system that creates cyber-physical systems where materials can be moved efficiently across the factory floor. This would provide significant real-time quality, time, resource, and cost advantages in comparison with the traditional production systems. Sensing components such as actuators and sensors within the industrial set-up are expected to become “smart” as they are, increasingly, becoming self-sufficient with integrated computing abilities and low power consumption. This advanced system has integrated computing codes that provides automation solution. Smart Factory provides data models and factory- specific & MES templates for rapid use. The use of smart factory boosts the quality & productivity and cuts down the operational cost as compared to traditional production systems. The Smart Factory Market on the Basis of Different Types of Technology: ### Continuation: AIS next generation HMI Touch Panel Series are engineered to meet the increasingly complex processes, demanding visualization and control tasks of machines and automation systems while simplifying operation and programming. Using flexible and standardized interfaces for embedded computing allows for easy and efficient integration for almost any machine, application or environment. Learn More>
The development and adoption of intelligent technologies across all the major industries such manufacturing, petrochemicals, energy, and mining has revolutionized the industrial sector. The factors that are driving the growth of the Smart Factory market are the rising practice for advanced base for manufacturing, increased focus on energy consumption and improved efficiency of manufacturing. However, the major restraints for the growth of the market are lack of interoperability & standardization and the shortage of trained workers.
The Industrial Internet of Things (IIoT) is the next generation of the Internet based on the Internet Protocol (IP). It facilitates end-point devices by allowing the automatized use of data generated by sensors or devices that are connected to wired and wireless communication networks. The Internet of Things and AIS has already been making a significant impact on the transportation industry, providers, cities and consumers.