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Global Smart Factory Market is anticipated to soar at a Stellar CAGR Of 10.8% during 2022-2030 | Future Market Insights, Inc.

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NEWARK, Del, Aug. 17, 2022 (GLOBE NEWSWIRE) — The smart factory market is expected to soar at a stupendous CAGR of 10.8% over the span of eight years. This surge is noticed from a valuation of US$ 127.2 Bn in 2022 to US$ 288.1 Bn by the end of 2030.

Technological proliferation in every industry is propelling the demand for smart factories. Revenue from the smart factory sector accounted for a 15% share of the global industrial automation market in 2021.

An increase of 41 units in BPS values is witnessed in the smart factory market in H1, 2022 – Outlook (O) over H1, 2022 Projected (P). For many years, the manufacturing industry has seen a growth in sensor technology. When sensors are adopted more widely and at a more affordable price point in 2022, a critical mass breakthrough is likely to occur.

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Key Takeaways

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  • The benefits of remote and off-site operational work are enormous and constantly expanding. According to Future Market Insights analysis, there are more pros associated with the smart factory market such as flexibility, safety, and convenience. Owing to such benefits, consumers and manufacturers are shifting toward the smart factory market.
  • Facilities continue to explore ways to integrate even more remote access into their operations, including cloud-based technology, storage, and analysis, even as life returns to normal in the wake of COVID. This is likely to drive the smart factory market.
  • Changing digital trends and rapid technological advancements such as IoT processor (Internet of Things), 5G technology, etc. are expected to boost the establishment of smart factories across the world.
  • More and more facilities are adopting sensors as they provide continuous, real-time machine health and condition monitoring. Backed by such benefits, the need for a smart factory solution is expected to skyrocket.
  • As per FMI analysis, industries are deploying smart factory solutions in order to estimate and plan maintenance, production capacity, inventories, sales, and other factors more precisely. Combined with technology like Machine Learning (ML) and Artificial Intelligence (AI) smart factory market is anticipated to fuel throughout the forecast period.
  • Technological improvements in all walks of life have driven consumer conveniences that resulted in changing trends. Due to the proliferation of technology, there is a significant influence on the smart factory market potential in coming years as well. Demand for smart factories rose at a high CAGR of 9.7% from 2015 to 2021.

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More Insights into Smart Factory Market

Exponential growth has been witnessed in the Indian manufacturing industry over the past few years, and this can be directly linked to rapid urbanization and industrialization in the nation. Attributed to these developments, the smart factory market is expected to surge during the forecast period of 2022-2030.

The government is supporting manufacturers to deploy smart manufacturing solutions and advancing the industry 4.0 trend by providing subsidies to attract investors. More initiatives like Make in India are expected to boost industrial growth in the country.

An increase in technological advancements such as 5G technology and cloud technology are estimated to boost smart factory as a service demand over the forecast.

China is known as a well-established manufacturing hub and has a highly lucrative industrial sector for the smart factory market. Smart manufacturing and automation are estimated to see high demand in China over the forecast period.

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As the adoption of industry 4.0 increases, smart factories as a service is also anticipated to see reasonable growth in the Chinese industrial sector. Industrial IoT components are also anticipated to see an increase in demand due to increasing automation in smart industries.

Competitive Landscape

ABB Ltd., Siemens AG, Schneider Electric SE, Rockwell Automation Inc., General Electric Company, Johnson Controls International PLC, Yokogawa Electric Corporation, Honeywell International Inc., SAP SE, Oracle Corporation, IBM Corporation, Cisco Systems Inc., Microsoft Corporation, Kollmorgen are some of the key companies profiled in the full version of the report.

Smart factory companies are investing in the research and development of smart manufacturing technologies that utilize industrial IoT components to maximize productivity and efficiency.

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Key Segments of Smart Factory Industry Survey

Smart Factory Market by Component:

  • Smart Factory Hardware
    • Sensors
    • Industrial Robots
    • Machine Vision Systems
    • Industrial 3D Printing
  • Smart Factory Software
    • Human Machine Interface
    • Product Life Cycle Management
    • Distributed Control System
    • SCADA
    • ERP
    • Others
  • Smart Factory Services
    • Integration & Deployment
    • Consulting
    • Support & Maintenance

Smart Factory Market By End User:

  • Discrete Industry
  • Process Industry

Smart Factory Market By Industry Vertical:

  • Smart Factories for Automotive
  • Smart Factories for Aerospace & Defence
  • Smart Factories for Electrical & Electronics
  • Smart Factories for Food & Beverages
  • Smart Factories for Energy & Utilities
  • Smart Factories for Healthcare & Pharmaceuticals
  • Others

Smart Factory Market By Region:

  • North America Smart Factory Market
  • Latin America Smart Factory Market
  • Europe Smart Factory Market
  • East Asia Smart Factory Market
  • South Asia & Pacific Smart Factory Market
  • Middle East & Africa (MEA) Smart Factory Market

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Table of Content

1. Executive Summary

      1.1. Global Market Outlook
      1.2. Demand Side Trends
      1.3. Supply Side Trends
      1.4. Analysis and Recommendations

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2. Market Overview

      2.1. Market Coverage / Taxonomy
      2.2. Market Definition / Scope / Limitations

3. Key Market Trends

      3.1. Key Trends Impacting the Smart Factory Market
      3.2. Innovation / Development Trends
      3.3. Key Success Factors

4. Global Smart Factory Market – Pricing Analysis

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      4.1. Smart Factory Component, Pricing Models
           4.1.1. Hardware Devices, Unit Price Analysis
           4.1.2. Software Pricing Models
                 4.1.2.1. Subscription-based Pricing (Per User/Month)
                 4.1.2.2. Perpetual License (One Time License Fee)
      4.2. Global Average Pricing Analysis Benchmark

Read Full TOC…..

Explore wide-ranging Coverage of FMI’s Technology Market Insights Landscape

Smart Railways Market: The global smart railways market is set to enjoy a valuation of US$ 26.37 Bn in 2022, and further expand at a rapid CAGR of 16.3% to reach US$ 43.33 Bn by the end of 2031.

Smart Camera Market: The smart camera market is anticipated to grow at a sturdy CAGR of 25.8% during the forecast period. The market is anticipated to be valued at US$ 151187.6 million by 2032, while the valuation as on 2022 is US$ 15247.6 million.

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Smart Elevator Automation System Market: Smart Elevator Automation Market in terms of value, the modernization services sub-segment is expected to represent an absolute $ value opportunity of US$ 9,922.3 Mn in the global smart elevator automation system market between 2017 and 2027.

Smart Personal Safety and Security Device Market: The global smart personal safety and security device market is expected to expand at a 7.4% CAGR.

Smart Mining Market: The global smart mining market is anticipated to increase at a compound annual growth rate (CAGR) of 14.5%, and rake in US$ 13 Bn in revenues.

Smart Sensor Market: Sales of Smart Sensors Market are projected to rise at a prolific CAGR of around 19.2% between 2022 and 2032, totaling a valuation of over US$ 88 Billion by 2032.

Smart Fitness Market: The global smart fitness market revenue totaled ~US$ 13 Bn in 2020, according to Future Market Insights (FMI). The overall smart fitness market size is expected to reach ~US$ 50 Bn by 2031, growing at a CAGR of 12% for 2021 – 31.

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Embedded Smart Cameras Market: Embedded smart cameras provides access to large number of views through the cooperation among individual cameras and potentially support more complex and challenging applications than a single camera, such as smart rooms, surveillance, tracking, and motion analysis.

Smart Agriculture Solution Market: The global smart agriculture solution market is expected to register growth at 10.3% CAGR between 2021 and 2031.

Spoil Detection Based Smart Label Market: Spoil detection-based smart labels especially capture an important portion of the printed electronics market, as they are extensively used for groceries, and other food and beverage products all over the globe.

About Us:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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