Global smart factory market to reach USD 74.80 billion by 2020

Latest research by Netscribes analyzes the market and patent landscape for Industrial 4.0

Mumbai, Maharashtra, August 31, 2017 /India PRwire/ -- Netscribes, Inc., a global market intelligence and content management firm, today announced the findings of its research on the global smart factory market in its infographic Smart Factories: Current and Future Adoption Trends. According to Netscribes research, the global smart factory or Industrial 4.0 market is expected to grow at a CAGR of 10.4% and will reach USD 74.80 billion by 2020.

Using its in-house market research and patent analytics expertise, Netscribes compiled the adoption trends and market landscape analysis of the smart factory market and provides a synoptic view of the future impact of Industrial 4.0 and the active companies investing in smart factories in major industries such as automotive, oil and gas, aviation, and energy.

Netscribes also conducted a patent analysis to uncover the smart factory technology focus areas and the top companies that hold patents for those technologies.

Some of the major findings included in the study are:

  • Europe currently has the largest smart factory market share, followed by APAC countries, and the US.
  • Germany leads in the adoption of smart factories, followed by the US and Japan.
  • Cloud computing, augmented reality, and 3D printing are the top three technologies for smart factory-related patents.
  • The use of collaborative industrial robots will find major application in the aviation, energy, and oil and gas industries.
  • The use of 3D printers for prototyping will be used primarily in aerospace manufacturing.

To download the complete infographic, visit http://www.netscribes.com/Knowledge-Center/Current-and-Future-Adoption-Trends.php

For detailed custom research and patent analysis on smart factories, write to info@netscribes.com.

Netscribes carried out the study through macro and micro level analytic research (EICPT model). This model drills downwards from macro-economic scenarios to industry and sub-sectors to company and peer group analysis, product and services and finally technology. For more information about Netscribes' technology market research and patent analysis solutions visit: https://www.netscribes.com/solutions/technology-intelligence/

Notes to Editor

About Netscribes

Netscribes is a global market intelligence and content management firm with services across the research and information value chain. Venture-funded by US and Singapore private equity firms, Netscribes provides tactical and actionable insights to its clients and enables effective decision-making and strategic implementation.

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