Digital factory market to grow at 33%
August 2019
News
The digital factory market will grow at a compound annual growth rate of 33% to reach $673 billion in 2026. According to a new report published by ABI Research, these sales include the actual hardware revenues for entire industrial robots, collaborative robots, connected PLCs, intelligent industrial battery management systems, electric motors, pumps, tank management systems and smart glasses.
“Currently, most manufacturing equipment still communicates in proprietary protocols and connecting it in a cost-efficient way without too much custom code often requires the expertise of IIoT integration specialists,” says principal analyst Pierce Owen. “For new factories, we have started to see how telcos and network infrastructure vendors can deploy private LTE, but so far it only works if the plant owner has the negotiating power to demand cellular connected equipment from all its suppliers.”
The automotive industry leads the way in the adoption of most digital factory technology technologies and represents the largest opportunity globally with $139 billion in digital factory revenues forecast for 2030.
“The automotive industry has demonstrated a willingness to scale transformative technologies ranging from generative design and additive manufacturing to IIoT connectivity and robotics of all kinds more than any other industry, but other industries will start to catch up over the next decade. The companies that first follow the automotive OEMs’ lead and scale technologies with proven value will gain
a competitive advantage,” Owen concludes.
For more information contact Deborah Petrara, ABI Research, +1 516 624 2558, [email protected], www.abiresearch.com
Further reading:
Palabora Mining Company and LH Marthinusen launch robotics and coding initiative
News
In a joint effort to advance education and digital skills development in Phalaborwa, Palabora Mining Company (PMC) and LH Marthinusen (LHM) have partnered to establish a fully equipped robotics and coding classroom at a local high school.
Read more...
A new era for African engineering
News
A group of mostly South African engineering professionals who bought a controlling margin of the South African arm of Netherlands-based engineering consultancy Royal HaskoningDHV have rebranded it as Atana.
Read more...
SEW-EURODRIVE builds regional strength with Gqeberha expansion
News
With the Eastern Cape firmly established as a hub for key industries such as automotive manufacturing, ports, agriprocessing and renewable energy, SEW-EURODRIVE is strengthening its presence in the region through an ongoing significant expansion of its facility in Gqeberha.
Read more...
Functional safety explained
News
The SAIMC supports Pepperl+Fuchs, a National Member, in a free four-part online seminar series focused on Functional Safety.
Read more...
The Future of manufacturing in Africa
News
The future and development of African manufacturing will be discussed extensively at the upcoming Manufacturing Indaba conference, to be hosted on 15 to 16 July 2025 at Johannesburg’s Sandton Convention Centre.
Read more...
Reinstatement opportunity for ECSA registration
News
In 2023 the Engineering Council of South Africa (ECSA) announced a special opportunity for engineers in South Africa to reinstate their registration status if it had been cancelled. This exclusive offer is available until the end of August 2024.
Read more...
Fostering a collaborative learning environment for sugar producer
SKF South Africa
News
One of South Africa’s leading sugar producers made strategic use of its off-crop season, turning scheduled downtime into an opportunity for both essential maintenance and valuable skills development with the help of SKF
Read more...
TechAccess and Schneider Electric partnership goes from strength to strength
Schneider Electric South Africa
News
Schneider Electric, together with its longstanding partner TechAccess, is poised to take the Southern African market by storm.
Read more...
Steinmüller Africa and Eskom uplift eMalahleni communities
News
Steinmüller Africa, in partnership with Eskom, has reaffirmed its commitment to social upliftment by donating essential goods and creating meaningful connections with two impactful community organisations in eMalahleni.
Read more...
Comtest calibration user group seminar
News
Comtest invites metrology and calibration professionals to a focused technical seminar series aimed at demystifying some of the most common hurdles in inter-laboratory comparisons.
Read more...
printer friendly version