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Feb 2017 - Market Note - Doc # AP42262917

Smart Manufacturing: Siemens Partners with Korea Smart Factory Foundation to Build a Smart Demonstration Factory

Author: Sampath Kumar Venkataswamy Research Manager
Abstract

The growing competition and related profitability pressures will continue to act as drivers for manufacturing organizations to constantly innovate and invest in technologies that can reduce operational risks and increase manufacturing efficiencies. Additionally, the respective governments should also define the future direction in a way that can incentivize the overall smart manufacturing initiatives. Countries such as South Korea, Singapore, and China have already created long-term road maps that has enabled technology vendors to create customized region-specific offerings, whereas tech buyers have started allocating budgets for test bed setups that can act as proof of concept (POC) before full-fledged smart manufacturing technology investments are made.

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