Digital factory market to reach US$111 billion in 2026: report

According to a new report published by ABI Research, the digital factory market will grow at a compound annual growth rate of 35% to reach US$111 billion in 2026.

“Today, the global manufacturing sector has only started to adopt digital factory technologies, which will expand and change as factories get more connected, networked and flexible,” said Pierce Owen, Principal Analyst at ABI Research. “Vendors such as PTC, ABB, GE, Siemens, SAP and Telit, and systems integrators such as Accenture, Wipro and Atos help factories connect and network their equipment and monetise the data generated on the factory floor. These vendors have set themselves up to adapt and transform with new technologies as they start to implement what they have now.”

The food, beverage and tobacco product industries represent the largest opportunity globally with US$19 billion in digital factory revenues forecasted for 2026, but the largest industry differs from country to country. In the United States, the largest digital factory market, the chemical products industry represents the biggest opportunity, generating US$7 billion in digital factory revenues in 2026. In Germany and Japan, automotive leads the way, but in China, the second-largest market, other durable goods, makes up the biggest opportunities.

“Digital factory technologies will see adoption in every major industry in most of the leading manufacturing countries around the globe, but only the vendors that chase innovation and continuously adapt to the needs of new customers will take full advantage. Right now, this includes the leading platform providers and systems integrators as well as some start-ups,” Owen concluded.

These findings are from ABI Research’s ‘Digital Factory Market Forecasts’ report. This report is part of the company’s Smart Manufacturing research service which includes research, data and Executive Foresights.

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