BANGALORE, India, Sept. 8, 2020 /PRNewswire/ — Major factors driving the smart factory market size are the growing use of technology in manufacturing, the increasing adoption of industrial robotics in the manufacturing sector powered by collaborative robots, and the evolution of the Internet of Things (IoT).
The Global Smart Factory Market size is expected to grow from USD 152,243.88 Million in 2019 to USD 267,421.67 Million by 2025 at a CAGR of 9.84%.
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TRENDS INFLUENCING THE SMART FACTORY MARKET SIZE
Smart Factory provides quality and time advantages in real-time, which are expected to accentuate the Industry’s growth over the forecast period. It also offers greater knowledge, decentralizes manufacturing, and generates an integrated cognitive and self-healing mechanism.
Smart factory technologies play a key role in designing and producing high-quality automobiles. Vehicle manufacturers welcome advances in assembly-line methods to improve