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:
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...
The top 10 emerging technologies of 2025
News
The World Economic Forum’s top 10 emerging technologies of 2025 are expected to deliver real-world impact within three to five years and address urgent global challenges.
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...
Technology leaders shaping 2025
News
In an era where agility, innovation and execution are paramount, ABI Research’s latest report, ‘26 Technology Companies Leading the Way in 2025’ identifies the top players shaping the future across key digital technology segments.
Read more...
Omniflex through the decades
Omniflex Remote Monitoring Specialists
News
As Omniflex celebrates 60 years of engineering excellence, we take a look back at the decade that saw us really kick in and deliver major engineering projects – the 1970s.
Read more...
Innomotics certified for innovative mine winder braking system
News
Innomotics has achieved SIL 3 certification for the COBRA 02 S braking system for mine winder installations, together with OLKO-Maschinentechnik.
Read more...
The true cost of cheap water in South Africa
News
The low cost of water has created a dangerous sense of comfort for South Africans.
Read more...
South Africa’s green hydrogen leap
News
Over the past 12 months, South Africa has solidified its ambitions to become a global green hydrogen leader. Riding on abundant renewable energy resources and strategic partnerships, the country has advanced from early-stage promise to tangible project groundwork. These are the most significant developments from mid-2024 through mid-2025.
Read more...
Rewiring the nation
News
South Africa’s energy sector is undergoing a dramatic transformation. Long defined by its heavy dependence on coal, the country is now making significant progress toward a more diverse and sustainable energy mix.
Read more...
Africa Energy Review
News
The Africa Energy Review 2024 from PwC outlines how the continent’s energy landscape is shifting in response to global trends, local needs and technological innovation.
Read more...
printer friendly version