Smart Factory Market Size Is Projected To Reach Usd 195.10 Billion By 2030, Growing At A Cagr Of 9.6%: Straits Research

The global smart factory market size was worth USD 85.5 billion in 2022 and is estimated to reach an expected value of USD 195.10 billion by 2031, at a CAGR of 9.6%. The primary factors driving the market are the growing demand for high-quality products, increased use of products across several industries, such as robotics systems, and the rising demand for energy conservation. The increasing implementation of IoT technology is also expected to drive the market.