‘Smart Factory’ Trend Sweeping Samsung, LG

Samsung Electronics and LG Electronics are both making strides in the smart factory sector.
 
According to market research firm MarketsandMarkets on March 31, the global smart factory and automation industry market size is expected to grow from US$86 billion in 2022 to US$140.9 billion by 2027. MarketsandMarkets forecasts that the compound annual growth rate (CAGR) during this period will reach 10.3%.
 
Particularly, in North America, Europe, and the Asia-Pacific region, the manufacturing industry’s shift towards smart factories is anticipated to intensify, driven by governments’ active support and increased investment in manufacturing digitization and automation.
 
Samsung Electronics is set to actively convert its semiconductor production lines into smart factories. Notably, Samsung Electronics considers the capability in ‘Digital Twin,’ a core technology of smart factories, crucial for its success in catching up with TSMC, the world’s leading semiconductor foundry. TSMC is known to have previously integrated digital twin technology into its fine processes in collaboration with companies such as Microsoft and Siemens.
 
Digital twin technology involves creating a digital environment identical to reality and synchronizing it with the Internet of Things (IoT), among other technologies, to enhance predictability. The more perfect the connectivity, the more benefits are gained, including improved productivity, increased worker safety, and optimal yield management.


Source: Business Korea