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Artificial Intelligence

Smart Factory Market Size to Expand Around USD 321.98 Bn by 2032

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Tokyo, Jan. 17, 2023 (GLOBE NEWSWIRE) — The smart factory market size will reach at USD 142.09 billion in 2023. A variety of fully integrated automation systems for manufacturing facilities are applied in a “smart factory.” It is a fully networked and computerized production plant that makes various items using smart technologies. One of the most significant results of Industry 4.0, often known as the fourth industrial revolution, is the smart factory concept.

Smart manufacturing refers to the use of Technology by firms that operate autonomously and can self-correct and self-learn. This Technology includes artificial intelligence (AI), robotics, the internet of things (IoT), analytics, and big data. Visibility, connectivity, and autonomy define the smart factory.

One of the main elements fostering an optimistic view for market growth is the rapid digitalization across industries and the rising demand for industrial automation. A further factor driving market expansion is the extensive use of manufacturing execution systems (MES) and sophisticated data models for process-specific operation. Along these lines, the market is expanding due to the rising use of reconditioned industrial robots and radio frequency identification (RFID) systems.

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Market Growth

One of the primary elements driving a positive outlook for market growth is the rapid digitization across industries and the growing need for industrial automation. Additionally, the increased use of enhanced data models for process-specific functioning and manufacturing execution systems (MES) is boosting market expansion. Accordingly, the market is expanding due to the rising use of reconditioned industrial robots and radio frequency identification (RFID) systems.

Further growth-promoting technical developments include the fusion of linked devices with cloud computing, artificial intelligence (AI), and the Internet of Things (IoT). These cutting-edge techniques support automated material handling, product testing, and electronic and mechanical assembly. Additionally, force sensors are used in smart factories to collect data for statistical process control (SPC) systems, check component insertion, and maintain constant force during buffing, polishing, and deburring.

Regional Analysis

The Asia-Pacific is expected to acquire the largest market share throughout the projection period. China has the quickest rate of population growth and industrial production, and these elements propel the nation’s automation market forward. Investments are being planned to improve growth quality, manage environmental issues, and lessen overcapacity. Over the past few years, the production of automobiles in Germany has dramatically increased globally.

Additionally, the market under study will likely be primarily driven by sustainability in the industrial sector. The nation plays a significant role in the production and consumption of automation equipment in Europe. Third, in terms of size, is North America. Due to factory automation’s early adoption, the United States represents a significant market for suppliers of smart factory solutions. Aside from that, the country has one of the biggest auto markets in the world and is home to over 13 key vehicle manufacturers. The nation’s manufacturing sector has relied on the production of cars as one of its many revenue streams.

Report Segmentations

By Product

  • In fast-moving conveyor systems, sensors are typically employed to count how many products pass through a specific stage. The sensors are crucial for establishing the product’s precise relative placement when autonomous robots perform an activity on the subject, such as welding in automobiles.

By Technology 

  • PLM has changed how valuable data is in the manufacturing industry and provides a significant return on investment (ROI). When all the information was at their fingertips, manufacturing or industrial firm employees discovered they were more effective.

By End-User

  • The global market by end-user industry is segmented into the automotive, semiconductors, oil and gas, pharmaceutical, chemical and petrochemical, aerospace and defense, food and beverage, mining, and other end-user sectors. Oil and gas industry acquired the largest market share during the past year.
  • Safety and dependability are constantly in demand in procedures used in the oil and gas industry. The sector’s supply chain generates a significant requirement for automation, industry knowledge, and a vast partner network. In other instances, firms in the oil and gas business are also seriously concerned about security. Governments in nations like Mexico, whose pipelines are frequently targets of robberies and insurgent attacks, are boosting their spending on process automation connected to pipeline security.

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Scope of the Report

Report Attributes Details
Revenue Forecast by 2032 USD 321.98 Billion
CAGR 9.52% from 2023 to 2032
Largest Revenue Holder North America
Fastest Growing Region Asia Pacific
Base Year 2022
Forecast Year 2023 to 2032
Key Players ABB Ltd., DassaultSystèmes, General Electric Co., Emerson Electric Co., Honeywell International Inc., Johnson Controls International, Mitsubishi Electric Corporation, Microsoft Corporation, Robert Bosch GmbH, Schneider Electric SE, and Siemens AG and Others

Market Dynamics of Smart Factory Market

Market Drivers

IoT hardware and smart factory technology significantly affect productivity, product quality, and safety throughout the manufacturing value chain. Quality control, equipment upkeep, warehouse operations, inventory management, and other manufacturing processes are all parts of smart manufacturing that can be aided by IoT technology. Additionally, as AI and machine learning skills become more widely used, they may improve speed, accuracy, and data analysis, considerably fuelling the market growth.

The industry under study may widen its reach further through developments in the device market, sensors, and robotics. IoT technology, particularly in wealthy nations like the United States, is resolving the manufacturing sector’s manpower problem. The Federal Government and the corporate sector in the United States are investing in Industry 4.0 IoT technology in order to enhance the American industrial base.

Market Restraints

The high expenses of automated systems are related to reliable and effective hardware and productive software. To invest in the smart factory, automation equipment will require more capital (a computerized system can cost millions of dollars to install, design, and fabricate). Additionally, automated equipment requires more maintenance than a manual technique (even flexible automation is less flexible than humans, the most versatile machines of all).

The slower adoption of Industrial IoT technology can be related to the higher costs of maintaining M2M connections, which were severely charged, much like mobile device subscriptions. The constant updates in networking and Technology also, because significant cost increases are significantly greater than the initial investment, further hampers the market growth.

Market Opportunities

The use of articulating robots has grown dramatically during the past few years in several industries, including component assembly and vehicle painting. Nevertheless, the market’s expansion was aided by the extensive use of articulated robots in aerospace, oil, gas, and numerous other industries that frequently produce massive parts using articulated robots. For instance, heavy steel girders can be moved using powerful and effective KUKA Titan and 6-axis articulated robots. To increase industrial productivity, decrease human error and effort, and improve end-product quality, articulated robots are utilized to create massive quantities accurately and quickly.

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Recent Development

  • October 2022 – With orders from Stadler Valencia worth $170 million, more than 300 new locomotives and trains will be driven by highly energy-efficient traction technologies. They will be used in several European railway networks to reinforce and modernize train travel in countries including Germany, Austria, Spain, Portugal, the United Kingdom, and several other European rail lines.
  • October 2022 – Accelleron Industries AG, a global leader in high-power turbochargers for mission-critical applications, has received permission to begin trading on the SIX Swiss Exchange in Zurich using the ticker symbol “ACLN,” according to an announcement made by ABB as part of Accelleron’s spin-off completion from the company.
  • September 2022 – This year’s theme of World Maritime Day on September 29, Technology for greener shipping, is covered in the most recent edition of ABB’s podcast ABB Decoded, which is Technology-focused. The theme is an opportunity to focus on the value of a sustainable maritime sector and participate in a global discussion on the issue.

Market Segmentation

By Product

  • Machine Vision Systems
    • Cameras
    • Processors
    • Software
    • Enclosures
    • Frame Grabbers
    • Integration Services
    • Lighting
  • Industrial Robotics
    • Articulated Robots
    • Cartesian Robots
    • Cylindrical Robots
    • SCARA Robots
    • Parallel Robots
    • Collaborative Industry Robots
  • Control Devices
    • Relays and Switches
    • Servo Drives and Motors
  • Sensors
  • Communication Technologies
    • Wired
    • Wireless
  • Other Products

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)
  • Other Technologies

By End-User Industry

  • Automotive
  • Semiconductors
  • Oil and Gas
  • Chemical and Petrochemical
  • Pharmaceutical
  • Aerospace and Defense
  • Food and Beverage
  • Mining
  • Other End-user Industries

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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Artificial Intelligence

Tata Elxsi and Telefónica Collaborate to Achieve True Cloud-Native Infrastructure Management, Revolutionising Telecommunications Landscape

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BENGALURU, India and BARCELONA, Spain, Feb. 27, 2024 /PRNewswire/ — Tata Elxsi and Telefónica proudly announce a groundbreaking achievement in the realm of the automation of cloud infrastructure for telecommunications, with the successful implementation of true cloud-native infrastructure management powered by ETSI Open-Source MANO (ETSI OSM). This milestone represents a significant evolution in network management, enabling operators to build intent-driven network systems with unprecedented efficiency and agility.

Through this collaboration, Tata Elxsi and Telefónica have enhanced the capabilities of OSM, introducing innovative features such as infrastructure automation, serverless operations execution environments, and the deployment of multi-cloud Platform-as-a-Service (PaaS) solutions. These advancements mark a new phase in the evolution of Telco Cloud technologies and signify a commitment to driving digital transformation across the telecommunications industry.
The integration of OSM with Tata Elxsi’s award-winning NEURON platform represents a pivotal moment in multi-domain transformation towards autonomous network systems. NEURON’s business intent-driven functionalities, coupled with OSM’s platform, provide operators with unparalleled control and flexibility in managing complex infrastructures.
“In our collaboration with Tata Elxsi, our objective is to advance the boundaries of technology and standardization, propelling operators towards cloud-native agility,” emphasised Francisco-Javier Ramón, Multicloud Tools Manager in gCTIO Unit at Telefónica.
“We are thrilled to partner with Telefónica to revolutionize the orchestration landscape,” commented B. Ramesh Ramanathan, Principal Architect, CTO Office at Tata Elxsi. “This collaboration enhances our presence within the open-source community and propels NEURON towards the realm of 5G and beyond and autonomous networks.”
The strategic collaboration between Tata Elxsi and Telefónica sets the stage for future advancements in Telco Cloud technology, paving the way for cutting-edge solutions that address the evolving needs of the telecommunications industry.  Powered by OSM, NEURON now possesses the capability to seamlessly integrate infrastructure, services, security, networking, and configuration into a unified, intent-driven deployment.
Please visit MWC Hall 2 – 2A53MR to see the joint demonstration by Telefónica and Tata Elxsi.
About Tata Elxsi
Tata Elxsi is a global design and technology services company that blends technology, creativity, and engineering to help customers transform ideas into world-class products and solutions. With expertise in industries such as automotive, broadcast, communications, healthcare, and more, Tata Elxsi is committed to driving innovation and delivering value to its clients worldwide. For more information, visit www.tataelxsi.com.
About Telefónica:
Telefónica is a leading telecommunications company operating in Europe and Latin America. With a presence in over 15 countries and a customer base exceeding 350 million, Telefónica is committed to providing cutting-edge solutions and services that enable individuals, businesses, and communities to connect and thrive in the digital world.
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Artificial Intelligence

Netcore Unbxd’s Strategic Expansion in Europe Fuels 150% Revenue Growth, Redefining Ecommerce in Europe

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LONDON, Feb. 27, 2024 /PRNewswire/ — Netcore Unbxd, a leading AI-powered Commerce Search and Product Discovery landscape player, proudly announces exceptional growth in the UK and European markets. This growth which has tripled in the last year, is marked by the successful onboarding of market-leading retailers, including Waitrose, Unilever Europe, Camper Footwear, Dobbies, Alohas, OceansApart, Goodform, and ResMed Europe. What sets this accomplishment apart is its tangible impact on the retailer’s bottom line, as they leverage the advanced capabilities of Netcore Unbxd’s platform, resulting in an impressive 40% surge in revenue and a substantial 25% increase in conversions.

As a wholly owned subsidiary of Netcore Cloud Pvt Ltd, Netcore Unbxd has strategically scaled its teams across key markets in the UK, France, Spain, and Portugal. Unbxd’s data infrastructure spans five regions, including one in the EU. Additionally, the region has established a comprehensive Go-To-Market (GTM) team comprising skilled professionals in customer success, account management, and sales to reinforce its commitment to providing exceptional services and support to its expanding clientele.
Netcore Unbxd’s success lies in the compelling stories of its customers, which include:
Fishpools, a significant player in the UK furniture industry, experienced a 51% increase in Average Order Value (AOV) and a 20% surge in search-related revenue within 12 months of implementing the Unbxd platform.Wex Photo Video, a leading electronics retailer, saw a remarkable 35% reduction in bounce rates within the same period.The company’s recognition as a leader in the Forrester Wave report in the Commerce Search and Product Discovery category in Q3 of 2023 further solidifies its position in the market. This is in addition to Netcore’s previous recognition as a top vendor in Email Marketing Services (Q1 2022) and Cross-Channel Marketing (Q1 2023).
Netcore Unbxd’s advanced AI technology empowers retailers to deliver highly personalised shopping experiences, optimising product discovery and ensuring a seamless shopper journey. The region’s platform has been highly successful, offering enterprise features such as omnichannel search, natural language processing (NLP) models, and multi-language understanding. Recent collaborations with industry leaders such as Unilever and Waitrose highlight the platform’s effectiveness across diverse UK and European sectors.
Nishant Jain, COO of Netcore Unbxd, stated, “Our vision is to revolutionise the ecommerce landscape by leveraging AI technologies like large language models (LLMs) and vector models to enhance product discovery. Netcore Unbxd, a platform designed for enterprise retailers, has observed a significant 150% growth in revenue within the region over the past year.”
Laura Burbedge, Director of Online at Waitrose, said, “We know that our customers are busy and have lots of demands on their time – they need to be able to fill their online shopping trolley quickly and easily with minimal effort. Through working with Unbxd we have already seen a significant improvement in customer satisfaction with our search feature, with more personalised results.”
As AI continues to evolve in ecommerce, Netcore Unbxd remains well-positioned to leverage innovative solutions that empower businesses to stay ahead of the curve.
About Unbxd
Netcore Unbxd is a cutting-edge AI-powered product discovery platform that elevates the ecommerce experience with personalised interactions. By providing a range of solutions, including contextually relevant Search, Personalisation, and Product Recommendations, alongside an intelligent Product Information Management (PIM) platform and an intuitive merchandising console, Unbxd offers brands the tools to optimise their ecommerce objectives. Noteworthy global brands such as Unilever, MattressFirm, Waitrose, Advance Auto Parts, Dillard’s, The Children’s Place, HSN, and Wex have trusted Unbxd. Across the world, Unbxd consistently delivers exceptional shopping journeys to countless online visitors at scale.
Media Contact:Mekhala [email protected] 
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Artificial Intelligence

ZwickRoell selects IFS Cloud to drive operational efficiency and support growth

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IFS Cloud ERP will streamline ZwickRoell’s processes to reduce complexity and improve efficiencies to build business resilience.
LONDON, Feb. 27, 2024 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced that ZwickRoell Gmbh & Co.KG, a leading worldwide manufacturer of materials testing equipment, has selected IFS Cloud in a strategic move to harmonize its business processes and deliver enhanced visibility across its operations.

The move to IFS Cloud was driven by the need to modernize its current Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solution, which could no longer meet the business’ requirements needed to support its strategic growth plans.  Amid industry challenges, including global supply chain disruption, meeting sustainability goals and readiness for increased automation, ZwickRoell sought a new solution that would simplify its daily operations and eliminate existing IT operating risks.
IFS Cloud will enable the company to harmonize its disparate systems and simplify processes across its operations, driving continuous improvements and efficiency. With IFS Cloud, ZwickRoell will benefit from a single, composable digital platform that is designed to fit the needs of its complex manufacturing cycle today, from product development through to service and maintenance, and scale in future.
A key advantage of IFS Cloud is its evergreen model, which allows ZwickRoell to seamlessly integrate composable business applications across ERP, Enterprise Asset Management (EAM) and Field Service Management (FSM) as needed, enabling a solid data foundation across organization, and therefore delivering faster time to insight and minimizing costs. IFS Cloud will also enable the company to easily integrate users from MS Dynamics CRM systems, one of ZwickRoell’s key requirements.
Klaus Cierocki, CEO of ZwickRoell, said: “We are excited to begin a new chapter with IFS. Their manufacturing industry expertise and leading enterprise software differentiated them during the competitive selection process and they have given us complete confidence that they will support. IFS Cloud will provide us with the single platform that we knew was necessary to properly support our entire manufacturing and production cycle, ultimately helping us deliver better value to our customers and to build resiliency and agility into our business.”
Frank Beerlage, Managing Director DACH, IFS, said: “ZwickRoell is a strong family-run organization with traditions reaching back 160 years. Its values of honesty and fairness and its commitment to its customers are deeply aligned with IFS’s own mission. Globally, we are seeing manufacturers are increasingly accelerating their adoption of cloud-enabled solutions to enable the agility needed in the face of global challenges. We look forward to partnering with ZwickRoell on their digital transformation journey with IFS Cloud a core part of their strategic growth plans.”
The scale of deployment will include 1,390 users and two sites in Germany and Austria, with an 18-month global rollout to follow.
About ZwickRoell
For more than 160 years ZwickRoell has delivered outstanding technical performance, innovation and quality, in materials and component testing. ZwickRoell testing machines are used in R&D and quality assurance in more than 20 industries with one common goal – reliable test results This is ensured by a team of 1,900 dedicated employees in +50 countries, with competence, openness and passion.
Learn more about how automation and digitalization can make testing processes more efficient, simpler and safer at zwickroell.com  
About IFS
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers-at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
IFS Press Contacts:EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7018 607 299
The following files are available for download:
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ZwickRoell PR Final
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