Global Industry 4.0 Market

Industry 4.0 Market: Overview

According to Custom Market Insights (CMI), The Global Industry 4.0 Market  Size was valued at USD 118.11 billion in 2021 and is expected to reach USD 132.11 billion in 2022 and is estimated to reach USD 155.76 billion by the end of 2030 at a CAGR of approximately 14.3% during the forecast period 2022-2030.

The rapid advancements that have taken place worldwide have encouraged industrialization to a great extent. Industries have now started using modern techniques to increase the rate of production, which helps to generate better revenue over time. This has been facilitated with the help of artificial intelligence and robotic systems, which industries have adopted worldwide to avoid the risk of human errors and use artificial intelligence to earn maximum profits. That option of this new format of functioning by the manufacturing units has encouraged a huge revolution in industrialization.

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Industry 4.0 Market: Growth Drivers

The industry has adopted automated robots worldwide to boost the production rate and meet the growing population’s increasing demand. Artificial intelligence in the field of industries has transformed the entire process by increasing speed to a great extent. The chances of human error and negligence have been reduced to a great extent with the introduction of artificial robotic systems into the manufacturing process. A growing acceptance of using artificial intelligence has made work easier and faster. industry robotic systems can perform multiple tasks simultaneously, Which can be managed with the help of human intelligence. Once programmed, the robotic system need not be instructed again until necessary changes are required. Multiple reasons emerge as the driving factors for the growth of the market.

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Industry 4.0 Market: Regional Analysis

The region of North America has emerged as the largest market due to its rapid adoption of advanced technologies and smart manufacturing processes. The introduction of artificial intelligence and automated robots in the field of industries has helped this region to record a tremendous boost over time and is expected to be continued similarly in the future.

The various government initiatives and increasing research and development conducted by the key market players have supported this rapid industry transformation. New European nations proved to be the second in line, which has shown rapid transformation in the production method by adopting advanced technologies and artificial intelligence.

The use of automation techniques transformed the entire automotive manufacturing process in the region of Germany. Using networked objects in the manufacturing process helps to obtain real-time data that produces information regarding the condition of the equipment. Deja Pacific region has also shown a tremendous market boost due to the rapid adoption of automated machines and services.

Industry 4.0 Market: Recent Developments

• February 2020 – The design and technology services firm Tata Elxsi partnered with group firm Tata Motors for developing a unified, connected vehicle platform. The partnership will aid Tata Motors, in developing a connected vehicle as a key differentiator to most of its BS-VI range of passenger and commercial vehicles.
• In February 2021, ABB launched its new GoFa higher payload cobot, which will assist workers with repetitive and ergonomically challenging tasks.

Key Players:

• Ansys Inc.
• Cisco Systems Inc.
• ABB Ltd.
• Alphabet Inc.
• Cognex Corporation
• FANUC Corporation
• General Electric Company
• International Business Machines Corporation
• KUKA AG
• HMS Networks AB
• Intel Corporation
• Microsoft Corporation
• Mitsubishi Electric Corporation
• Schneider Electric SE
• Siemens AG
• Rockwell Automation Inc.
• SAP SE
• Stratasys Ltd.
• The Hewlett Packard Enterprise Company
• The Yaskawa Electric Corporation

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The global Industry 4.0 market is segmented as follows:

By Application

• Industry IoT
• Smart factory
• industry automation

By Vertical Analysis

• Electronics and consumer goods
• Aerospace and defense
• Oil and gas
• Automotive
• Energy and utilities
• Manufacturing
• Others

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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