Digital factory market to grow at 33%

2nd Quarter 2019 News & events

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 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:

Hydraulic & Automation Warehouse revitalises partnership with KTR Systems
Bosch Rexroth Africa News & events
Hydraulic & Automation Warehouse (HAW) has rejuvenated its relationship with KTR Systems, a leader in drive technology, brake systems, cooling systems, and hydraulic components.

Read more...

---

From the editor's desk: A good servant and a bad master
Technews Publishing News & events
In our new AI-generated world it was inevitable that the Nobel Committee would have noticed. Now two pioneers of artificial intelligence, John Hopfield and Geoffrey Hinton, have won the Nobel Prize ...

Read more...

---

Celebrating 65 years: rebuilding and redefining its legacy
Axiom Hydraulics Editor's Choice News & events
Founded in 1959 by Neill Simpson, Axiom Hydraulics has grown into one of South Africa’s elite hydraulic companies. Over the past six and a half decades they’ve weathered many challenges, but none as devastating as the fire of 2023.

Read more...

---

Eskom Expo International Science Fair honours top young scientists
News & events
Excitement filled the air as the 44th Eskom Expo International Science Fair (ISF) opened its doors, welcoming young scientists with an electrifying line-up of activities, including robotics and coding workshops, and riveting science shows.

Read more...

---

Bolt and Engineering: Blazing a trail of innovation and excellence
News & events
Bolt and Engineering Distributors is proud to have been the Trailblazer sponsor of the 2024 Southern African Institute of Steel Construction Steel Awards, held in Johannesburg in early October.

Read more...

---

Young robotics team takes world title
igus News & events
In an inspiring demonstration of innovation and teamwork, Texpand, a young South African robotics team, recently made history by winning the 2024 FIRST Tech Challenge World Championships.

Read more...

---

Bosch Rexroth Africa announces retirement of COO, Mike Harrison
Bosch Rexroth Africa News & events
Bosch Rexroth Africa would like to announce the retirement of one of its stalwarts. Group chief operating officer, Mike Harrison will retire at the end of the year. His retirement marks the end of a remarkable career spanning 34 years.

Read more...

---

Selection of two-port valves: an open and shut case
SMC Corporation South Africa News & events
Little consideration is generally given to 2-port valves because they are often perceived as simple devices that only open and close to control downstream fluid supply. Although this is mechanically true, choosing the optimal 2-port valve for your application can make a big difference, saving space, weight and energy consumption.

Read more...

---

MeerKAT radio telescope array
Editor's Choice News & events
Leading consulting engineering and infrastructure advisory practice, Zutari is continuing its involvement with the world-leading MeerKAT radio telescope array, where it has played a leading role since the project first broke ground.

Read more...

---

From the editor's desk: The weakest link
Technews Publishing News & events
Lately I’ve been getting an ever-increasing number of articles on cybersecurity in my inbox. It’s easy to put it on the backburner, but there is no doubt that this is a very serious problem that’s not ...

Read more...

---