The SMART FACTORY: At the heart of the smart factory are machine-to-machine communication and communication of machines with management systems. These systems are designed to support decision-making processes or to make autonomous decisions based on real-time data, including artificial intelligence incorporating artificial intelligence and machine learning.
The smart factory market is extremely dynamic. Experts predict it will grow at a compound annual growth rate (CAGR) of 9.6 percent to reach around 244.8 billion U.S. dollars by 2024.
It’s not hard to see why. Smart factories have the ability to master growing manufacturing complexity for greater productivity and growth. In particular, they can help companies meet rising consumer demand for individualized products on shorter lead times; increase sustainability through energy-saving intelligent drive systems coupled with longer equipment lifecycles; and increase production agility and uptime through advanced sensing and predictive maintenance. At the heart of all these Industrial Internet of Things (IIoT) capabilities lie wired and wireless technologies connecting the massive stream of data between people, machines, systems, and products in real time.
We all know the glue that holds the IIoT together: tiny semiconductors that meet all the security, functionality, connectivity and performance requirements for industrial automation in smart factories. This enables manufacturers to build scalable, secure, and efficient IIoT stacks that can handle and process the huge streams of data and immediately turn that data into actionable insights.
To enable the smart factory, the complete functional spectrum (sense, compute, actuate, connect, secure) is necessary: intelligent data capture and processing, real-time responsiveness, ubiquitous and secure connectivity, AI and machine learning, transparent and flexible supply chains, and greater sustainability. All of this is only possible with semiconductors such as those provided by Infineon Technologies.
Learn how we make the IIoT possible with application examples such as robotics, industrial automation, edge computing and predictive maintenance.
We make IoT work.
 Statista 2021: Industry 4.0: smart factory market size worldwide 2019/2024
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