[293 Pages Report] The global smart factory market size is estimated to be USD 86.2 billion in 2022 and is projected to reach USD 140.9 billion by 2027, at a CAGR of 10.3%. Growing emphasis on energy efficiency, resource optimization, and cost reduction in production operations; increasing demand for industrial robots; and rising demand for IoT and artificial intelligence in industrial environments are the major factors driving the growth of the smart factory industry. However, vulnerability to cyberattacks is a major challenge that could hinder this growth.
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