The implementation of digital technologies blurs the line between the physical and digital world. It has become clear that there is a strong need for digital transformation to achieve the next level of efficiency, connectivity, and flexibility needed in manufacturing to weather modern-day disruptions, risks, and fluctuating demands. 5G SMART believes that 5G will be a key enabler for manufacturers to realize this vision.
5G smart factory to demonstrate the benefits of Industry 4.0 Digitalisation
Industrialization levels have increased exponentially across various regions over the years. The rising industrial prospects of technological developments across manufacturing facilities will help create a positive growth trajectory for the smart factory market from 2021-to 2031. Modernization and adoption of the latest advancements will further help in propelling the growth prospects across the smart factory market. The rapid transmission of the virus due to frequent human interaction prompts many industrialists and manufacturers to adopt smart technologies for various processes. These processes assure minimal human contact. Thus, all these factors bode well for the growth of the smart factory market.
- An increase in the use of high-tech tools and machinery highlights a combination of manufacturing and technological developments. Furthermore, the industrial shift toward the cyber world and every value chain component is connected to ensure informed manufacturing with zero defects and no time lags. The factors mentioned above are expected to propel the smart factory market during the forecast period.
- Smart factory helps boost efficient production, enhance product quality, is environment friendly and energy-efficient. Thus, the associated benefits are expected to boost the companies adopting smart factory techniques during the forecast period.
- Development of Manufacturing Execution Systems (MES), data models for rapid usage, and factory-specific templates are a few recent trends witnessed in the global smart factory market. Moreover, an increasing number of industries adopting refurbished robots coupled with untapped fields such as industrial robots and RFID is projected to offer significant opportunities in the global smart factory market.
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