Growing trend of xxx and the future of Smart Factory market

What is a Smart Factory?

Smart factories are cost-effective and provide fully integrated automation solutions for production facilities, allowing materials to flow more smoothly during the manufacturing process. Smart factories use technology and field equipment to automate the manufacturing process. Smart factories may connect every process and component in the value chain by incorporating cyber physical systems into manufacturing flow. As a result, manufacturing units are now able to work at their optimum capacity. A mix of manufacturing and technology improvements can be seen in the increased usage of high-tech tools and machines. Furthermore, the industrial transition toward the cyber world is ensuring informed manufacturing with zero faults and no time lags by connecting every component of the value chain. During the projected period, the factors mentioned above are expected to boost the smart factory market.

Smart Factory Advantages and challenges 

The industrial robots market is growing due to downsizing of sensors, increased automation investments, and rising demand for industrial robotics systems in developing countries.

The cost of constructing a sensor network and communication system is reduced when a WSN is used. Due to the extra hardware requirements such as cables, networking equipment, routers, and network adapters, wired technology is more expensive than wireless technology.

Industrial robots such as articulated robots, SCARA robots, Cartesian robots, cylindrical robots, and other robots are also used in smart factories for various manufacturing operations such as painting, welding, transportation, and heavy lifting.

The oil and gas industry may use smart factory solutions to remotely monitor facilities and obtain insight into daily inventory and equipment conditions.

Remote monitoring can help compensate for the lack of qualified workers needed to collect data from equipment.

Smart factory solutions aid in the improvement of manufacturing processes, planning, technology assessment, third-party services, and remote assistance in the medical device business. Due to precision in manufacturing, smart factory technologies also assist reduce recalls and waste, as well as boost the profitability of enterprises that manufacture medical equipment.

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Smart Factory: 12.2% CAGR

Projected Revenue: 135 billion from 2021 to 2027

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Conclusion: A smart factory is a place where machinery and equipment can automate and self-optimize processes to boost productivity. The advantages extend beyond physical goods production to tasks such as planning, supply chain logistics, and product creation.

Published Date : August-2021

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