Europe Smart Factory Market Outlook, 2029
The Europe Smart Factory Market is segmented into By Component (Industrial Sensors , Industrial Robots, Industrial 3D Printing, Machine Vision), By Technology (Product Lifecycle Management (PLM), Human Machine Interface (HMI), Enterprise Resource and Planning (ERP), Distributed Control System (DCS), Manufacturing Execution System (MES), Programmable Logic Controller (PLC), Supervisory Controller and Data Acquisition (SCADA), Others (Industrial & PAM)), By Industry (Process Industry, Discrete Industry), By Process Industry (Oil & Gas, Chemicals, Pharmaceuticals, Energy & Power, Metal & Mining, Pulp & Paper, Food & Beverages, Cosmetics & Personal Care), By Discrete Industry (Automotive, Semiconductor & Electronics, Aerospace & Defense, Machine Manufacturing, Textiles).
- Bonafide Research
- 31-01-2024
- Pages : 93
- Figures : 15
- Tables : 27
- Region : Europe
- Category : IT & Telecommunications
- Technology
The Europe Smart Factory Market is projected to add more than USD 18 Billion from 2024 to 2029 due to Strong manufacturing base
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Largest Market Germany
- Fastest Market Spain
- Market Difference(2024-2029) USD 18
- Format
Featured Companies
- 1. General Electric Company
- 2. Honeywell International Inc.
- 3. Mitsubishi Electric Corporation
- 4. Emerson Electric Co.
- 5. ABB Group
- 6. Schneider Electric
- More...
Smart Factory Market Market Analysis
The development of smart factories in Europe is mostly due to innovation, since numerous businesses and academic institutes in the area are attempting to create novel technologies and manufacturing techniques. Today's European factories face challenging macroeconomic challenges. However, in response to these challenges, a growing number of businesses are turning to technology more precisely, to what the technology community refers to as the "smart factory" or "intelligent factory" to help them become more profitable and efficient. As manufacturers use cutting-edge technologies to enhance their production processes and increase efficiency, smart factories are becoming more and more prevalent in Europe. These factories are fully automated, with machinery and other devices having internet connections and the ability to communicate with one another. This makes it possible to monitor and manage production operations in real time. Data analytics technologies are used by smart factories to gather and examine vast volumes of production process data. Additionally, they use robotics to automate the production process and carry out intricate tasks. Research and innovation (R&I) activities of the European Union have been instrumental in fostering the creation of intelligent technologies and solutions that allow the European industrial sector to fully capitalize on digital potential. The 'Factories of the Future Public-Private Partnership,' which intends to support EU manufacturing enterprises and SMEs in facing global competitiveness by developing the necessary core enabling technologies across a broad variety of end-user industries, finances numerous projects.
According to the research report "Europe Smart Factory Market Outlook, 2029," published by Bonafide Research, the Europe Smart Factory Market is projected to add more than USD 18 billion from 2024 to 2029. The necessity for manufacturers to increase productivity, cut costs, and maintains their competitiveness in the global market is driving the market's rapid growth in Europe. Germany and other large manufacturing economies are the main drivers of the expansion of the European smart manufacturing sector. Manufacturing activity has always been at the forefront in Europe. But a lot of advances are forced by competition. Therefore, Europe needs to serve as a fertile field for innovative industrial technology concepts. With the help of the IT sector, manufacturing will advance to become intelligent and prepared to usher in the fourth industrial revolution with smart factories. Efficiency, productivity, and resource optimization are becoming more and more important to European firms in order for them to compete in the global market. Automation, artificial intelligence, and real-time data analytics enable smart factories, which have several advantages. Predictive maintenance and automation reduce equipment breakdowns and streamline manufacturing procedures. Consistent product quality is guaranteed by exact parameter control and real-time quality monitoring. Reduced energy and material waste is achieved through intelligent systems and optimized operations.
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Download SampleMarket Dynamic
Major Drivers
Industrial robot adoption is rising: The reasons propelling the growth of the industrial robot market include the increasing miniaturization of sensors, the rise in automation investments (particularly in the automotive, electrical and electronics, and metals and machinery industries), and the growing demand for industrial robotics systems in developing nations. Industrial robot usage has increased across a range of industries due to the growing demand for automation. The expansion of the electronics sector and the skyrocketing labour costs in the manufacturing sector are responsible for the industrial robots market's rise. During the study period, this is anticipated to boost the market for smart factories and raise demand for industrial robots.
An increasing focus on cost-cutting, resource management, and energy efficiency in production operations: Recent years have seen a rapid evolution of smart factories, motivated by the desire to leverage technology advancements to enable large volumes of manufacturing. Digitization, automated procedures, and internal data tracking are all used in smart factories to increase output, sustainability, and efficiency. Manufacturers are encouraged to raise production rates by growing product demand and intensifying worldwide rivalry. At production locations, this raises resource consumption and production costs. Automation systems are therefore being installed in manufacturing facilities to boost output while maximizing the use of existing resources.
Major Challenges
Risks to security related to cyber-physical systems : The manufacturing industry is the most frequently targeted by cyberattacks; 47% of all cyberattacks aim to obtain trade secrets and competitive advantages from this industry. An advanced technology called a cyber-physical system (CPS) combines the virtual and physical worlds to create intelligent machinery in a manufacturing. Manufacturing processes have been revolutionized by CPS technology. Cyber-physical manufacturing facilities combine cutting-edge technology such as robotics, big data, automation, artificial intelligence, virtual reality, sensors, augmented reality, and additive manufacturing to bring remarkable flexibility, precision, and efficiency to production operations.
Requirement for a substantial financial outlay: It costs a lot of money to install cutting-edge equipment, software, and IT infrastructure in a typical manufacturing plant in order to convert it into a highly sophisticated smart manufacturing unit. Advanced communication technology, industrial robots, smart field devices, and other pieces of equipment used in industrial automation depend on these technologies to operate properly. For businesses that operate in price-sensitive economies, including those in Asia Pacific and South America, this transition may present a financial hardship.
Smart Factory Market Segmentation
| By Component | Industrial Sensors | |
| Industrial Robots | ||
| Industrial 3D Printing | ||
| Machine Vision | ||
| By Technology | Product Lifecycle Management (PLM) | |
| Human Machine Interface (HMI) | ||
| Enterprise Resource and Planning (ERP) | ||
| Distributed Control System (DCS) | ||
| Manufacturing Execution System (MES) | ||
| Programmable Logic Controller (PLC) | ||
| Supervisory Controller and Data Acquisition (SCADA) | ||
| Others (Industrial & PAM) | ||
| By Industry | Process Industry | |
| Discrete Industry | ||
| By Process Industry | Oil & Gas | |
| Chemicals | ||
| Pharmaceuticals | ||
| Energy & Power | ||
| Metal & Mining | ||
| Pulp & Paper | ||
| Food & Beverages | ||
| Cosmetics & Personal Care | ||
| By Discrete Industry | Automotive | |
| Semiconductor & Electronics | ||
| Aerospace & Defense | ||
| Machine Manufacturing | ||
| Textiles | ||
| Europe | Germany | |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
Based on Component type, the market is divided into Industrial Sensors, Industrial Robots, Industrial 3D printing, and Machine Vision.
In the market for smart factories in Europe, the industrial sensors category is becoming increasingly significant. Automation and Industry 4.0 concepts are being adopted by European industries more frequently in an effort to boost productivity, efficiency, and competitiveness. As they offer real-time data on a variety of manufacturing processes, equipment health, and ambient variables, industrial sensors are essential to this. Automation systems can foresee possible problems, optimize operations, and make well-informed judgments thanks to this data, which improves factory performance overall significantly.
Based on Industry type, the market is divided into Process Industry, Discrete Industry.
In the European smart factory market, the process industry which includes industries like chemicals, pharmaceuticals, food and beverage, and oil and gas is becoming increasingly important. Process industries handle sensitive materials and have complex production chains. Yield, quality, and energy usage can all suffer significantly from even little inefficiencies. AI-driven analytics and industrial sensors power smart factory solutions, enabling real-time process optimization and monitoring. Strict rules pertaining to product quality, safety, and pollution apply to process industries. By helping businesses comply with these rules, smart factory technology like automated safety systems and real-time emissions monitoring can lower the risk of environmental fines and accidents.
Based on Process Industry type, the market is divided into Oil & Gas, Chemicals, Pharmaceuticals, Energy & Power, Metal & Mining, Pulp & Paper, Food & Beverages, and Cosmetics & Personal Care.
In reality, there is a noticeable increase taking place in the Oil & Gas sector of the European smart factory industry. The aging infrastructure of Europe's oil and gas industry raises questions regarding efficiency, safety, and dependability. These problems can be solved by smart manufacturing technologies. Predictive maintenance and unplanned downtime can be avoided by using sensors and data analytics to monitor the condition of processing facilities, wells, and pipelines. In addition to increasing safety, this lowers maintenance costs and increases operational efficiency. Europe has strict environmental rules for the oil and gas industry as well as aggressive climate targets. Smart manufacturing solutions minimize environmental effect, optimize resource utilization, and help enterprises comply with these rules.
Based on Discrete Industry type, the market is divided into Automotive, Semiconductor & Electronics, and Aerospace & Defence, Machine Manufacturing, Textiles.
The deployment of smart factories is causing a major upheaval in the European automobile sector. Asian and other regions compete fiercely with European automakers. They must increase their operational agility, cut expenses, and optimize their production processes if they are to be successful. These objectives are made possible by smart factories, which are driven by automation, real-time data analytics, and AI. Robots and automated assembly lines boost consistency and speed of production. By identifying and fixing problems early on, real-time quality control systems driven by AI and sensors may save waste and rework.
Based on Technology, the market is divided into Product Lifecycle Management (PLM), Human Machine Interface (HMI), Enterprise Resource and Planning (ERP),Distributed Control System (DCS), Manufacturing Execution System (MES), Programmable Logic Controller (PLC), Supervisory Controller and Data Acquisition (SCADA), Others (Industrial & PAM)
Product Lifecycle Management (PLM) is becoming an increasingly important part of the smart manufacturing landscape in Europe. PLM systems easily connect with other smart manufacturing technologies, such as IoT, AI, and sensors. This establishes a closed-loop feedback system by facilitating real-time data interchange between the stages of product design, manufacturing, and operations. Product designs can be improved and quality raised by utilizing real-time feedback from field and production operations. PLM data can help reduce waste and downtime by guiding scheduling, resource allocation, and production planning. PLM creates a "digital thread" that links the idea to retirement phases of a product's lifecycle. This provides data integrity and accessibility across departments, boosting collaboration and decision-making.
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Smart Factory Market Market Regional Insights
Based on report market is divided into various major countries Germany, UK, France, Italy, Spain, Russia.
German manufacturing companies, notably those in the automotive and engineering sectors, were the first to adopt smart factory technologies. Investing in automation, data sharing, and the Internet of Things helped these organizations become more productive, flexible, and competitive. The ecosystem of Germany's smart factories gave rise to numerous start-ups as well as alliances between established companies and technology providers. Companies that specialized in developing and implementing digital twin, predictive maintenance, and advanced analytics solutions. The objective of harmonizing in order to create a common architecture for Industry 4.0 technologies became popular. Organizations such as the German Electrical and Electronic Manufacturers' Association (VDE) concentrated on creating standards and certifications for smart manufacturing. Germany continues to lead the world in Industry 4.0. The United Kingdom has demonstrated consistent advancement in implementing the principles of the smart manufacturing, as demonstrated by notable milestones and modifications in reaction to worldwide patterns and technological innovations. The UK's factory automation began with the switch from mechanical and relay-based systems to PLC-based systems. The use of digital design tools changed the manufacturing and product development processes, paving the way for data-driven optimization. The UK government launched programs like "High Value Manufacturing" and "Catapult network" to promote the use of IoT, big data, and artificial intelligence in manufacturing. Sensor networks and connected devices enabled real-time data collecting, which paved the way for data-driven insights, predictive maintenance, and self-optimizing processes. France's smart factory market has expanded dramatically over the past several years, emerging as a thriving and promising sector. Strong government support through programs like "Industrie du Futur" and "France Relance Industrie" provides funding for research, financial incentives, and opportunities for joint ventures, all of which drive the industry's growth. Automation is becoming a must for French industries to stay efficient and competitive. As a result, smart industrial solutions are being adopted more widely.
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Companies Mentioned
- General Electric Company
- Honeywell International Inc.
- Mitsubishi Electric Corporation
- Emerson Electric Co.
- ABB Group
- Schneider Electric
- Siemens AG
- Johnson Controls International Plc
- KUKA AG
- Rockwell Automation, Inc.
- FANUC Corporation
- Bosch Rexroth AG
Table of Contents
- Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Smart Factory Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Component
- 5.4. Market Size and Forecast, By Technology
- 5.5. Market Size and Forecast, By Industry
- 5.6. Market Size and Forecast, By Process Industry
- 5.7. Market Size and Forecast, By Discrete Industry
- 6. Europe Smart Factory Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Component
- 6.4. Market Size and Forecast, By Technology
- 6.5. Market Size and Forecast, By Industry
- 6.6. Market Size and Forecast, By Process Industry
- 6.7. Market Size and Forecast, By Discrete Industry
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. Germany Smart Factory Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Component
- 7.8.3. Market Size and Forecast By Industry
- 7.9. United Kingdom Smart Factory Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Component
- 7.9.3. Market Size and Forecast By Industry
- 7.10. France Smart Factory Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Component
- 7.10.3. Market Size and Forecast By Industry
- 7.11. Italy Smart Factory Market Outlook
- 7.11.1. Market Size By Value
- 7.11.2. Market Size and Forecast By Component
- 7.11.3. Market Size and Forecast By Industry
- 7.12. Spain Smart Factory Market Outlook
- 7.12.1. Market Size By Value
- 7.12.2. Market Size and Forecast By Component
- 7.12.3. Market Size and Forecast By Industry
- 7.13. Russia Smart Factory Market Outlook
- 7.13.1. Market Size By Value
- 7.13.2. Market Size and Forecast By Component
- 7.13.3. Market Size and Forecast By Industry
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. Honeywell International Inc.
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Siemens AG
- 8.5.3. Schneider Electric SE
- 8.5.4. ABB Ltd.
- 8.5.5. General Electric Company
- 8.5.6. Rockwell Automation, Inc.
- 8.5.7. Emerson Electric Co.
- 8.5.8. FANUC Corporation
- 8.5.9. Bosch Rexroth AG
- 8.5.10. KUKA AG
- 8.5.11. Johnson Controls International
- 8.5.12. Mitsubishi Electric Corporation
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 1: Global Smart Factory Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Smart Factory Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 6: Global Smart Factory Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 7: Global Smart Factory Market Size and Forecast, By Industry (2018 to 2029F) (In USD Billion)
Table 8: Global Smart Factory Market Size and Forecast, By Process Industry (2018 to 2029F) (In USD Billion)
Table 9: Global Smart Factory Market Size and Forecast, By Discrete Industry (2018 to 2029F) (In USD Billion)
Table 10: Europe Smart Factory Market Size and Forecast, By Component (2018 to 2029F) (In USD Billion)
Table 11: Europe Smart Factory Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 12: Europe Smart Factory Market Size and Forecast, By Industry (2018 to 2029F) (In USD Billion)
Table 13: Europe Smart Factory Market Size and Forecast, By Process Industry (2018 to 2029F) (In USD Billion)
Table 14: Europe Smart Factory Market Size and Forecast, By Discrete Industry (2018 to 2029F) (In USD Billion)
Table 15: Influencing Factors for Smart Factory Market, 2023
Table 16: Germany Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 17: Germany Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Table 18: United Kingdom Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 19: United Kingdom Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Table 20: France Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 21: France Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Table 22: Italy Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 23: Italy Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Table 24: Spain Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 25: Spain Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Table 26: Russia Smart Factory Market Size and Forecast By Component (2018 to 2029F) (In USD Billion)
Table 27: Russia Smart Factory Market Size and Forecast By Industry (2018 to 2029F) (In USD Billion)
Figure 1: Global Smart Factory Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Smart Factory Market Share By Region (2023)
Figure 6: Europe Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Europe Smart Factory Market Share By Country (2023)
Figure 8: Germany Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: UK Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: France Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Italy Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Spain Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Russia Smart Factory Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: Competitive Dashboard of top 5 players, 2023
Figure 15: Porter's Five Forces of Global Smart Factory Market
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