Advances in Technologies Widen Market Opportunities for Smart Factory Use September 08, 2021
Industrialization levels have increased exponentially across various regions over the years. The rising industrial prospects attached with the technological developments across manufacturing facilities will help create a positive growth trajectory for the smart factory market during the assessment period of 2021-2031. Modernization and adoption of the latest advancements will further help in propelling the growth prospects across the smart factory market.
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The advent of Industry 4.0 and the use of smart mechanisms to complete repetitive and tedious processes will help in boosting the growth opportunities across the smart factory market. The COVID-19 pandemic has further influenced the growth of the smart factory market to a considerable extent.
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The rapid transmission of the virus due to frequent human interaction is prompting many industrialists and manufacturers to adopt smart technologies for a variety of processes. These processes assure minimal human contact. Thus, all these factors bode well for the growth of the smart factory market.
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The integration of technologies like the Internet-of-Things (IoT), Machine Learning (ML), Artificial Intelligence (AI), and others will help in increasing the growth rate of the smart factory market. In such developments, partnerships and research and development activities will further help in enhancing the growth of the smart factory market.
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Smart Factory Market: Introduction
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Smart factories have been gaining popularity in the last couple of years owing to an increase in adoption of intelligence technologies in various industries including energy, mining, manufacturing, and petrochemicals