Smart Factory Market Research Report
Smart Factory Market GMI Research forecasts the Smart Factory Market to reach a value of USD 150 billion by 2027, growing at a CAGR of 11.4% over the forecast period. The market is driven by the increasing demand for advanced technologies such as IoT in an industrial environment, increasing emphasis on resource optimization, cost reduction, and energy efficiency. Request a Free sample of Smart Factory Market Smart Factory Market Dynamics The smart factory market is projected to witness significant growth, owing to the advent of smart technologies. The adoption of smart technologies decreases the need for human labor across all major industries, such as energy, mining, manufacturing, and petrochemicals. Further, rapid digitalization across industries and the growing need for industrial automation are other prominent factors stimulating market growth. Smart factory helps in effortless supervision, reduces factory waste, and improves production speed. Also, the technological im...