Global Smart Factory Market Size Expansion by 2022
According to data recently released by MarketsandMarkets International, the global smart factory market is expected to reach $86.2 billion in 2022 and is expected to increase to $140.9 billion by 2027, growing at a CAGR of 10.3% during the period.
The growing popularity of IoT and artificial intelligence, and the increased use of industrial robots in factories are the major factors driving the growth of the smart factory market.