Global industry 4.0 market expected to reach approximately USD 155.30 billion by 2024, growing at a CAGR of slightly above 14.9% between 2018 and 2024. Industry 4.0 is an integrated system which consists of an automation tool, robotic control, and big data analytics.
The report covers forecast and analysis for the industry 4.0 market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the industry 4.0 market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the industry 4.0 market on a global level.
This report offers a comprehensive analysis of the global industry 4.0 market along with, market trends, drivers, and restraints of the industry 4.0 market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary, and the primary research team of industry experts.
The study provides a decisive view of the industry 4.0 market by segmenting the market based on technology, vertical, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024. Based on technology, the market is segmented into industrial robotics, cybersecurity, internet of things (IoT), 3D printing, advanced human-machine interface (HMI), big data, augmented reality & virtual reality, and artificial intelligence. The vertical is segmented into automotive, electrical & electronics equipment, industrial equipment, aerospace, chemical & materials, food & agriculture, oil & gas, energy & power, healthcare, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into countries such as the U.S., the UK, France, Germany, China, India, Japan, and Brazil.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global industry 4.0 market such as International Business Machines Corporation, ABB Inc., Stratasys, Ltd., Alphabet Inc., General Electric Company, Mitsubishi Electric Corp., Intel Corporation, Microsoft Corporation, Hewlett Packard Enterprise Company, Cisco Systems, and others.
The report segments the global industry 4.0 market as follows:
Industry 4.0 Market: Technology Analysis
Industry 4.0 Market: Vertical Analysis
Industry 4.0 Market: Regional Analysis
The industry 4.0 is the fourth industrial revolution. It is a grouping of numerous innovations that are done in digital technology. It is an integrated system that consists of robotics control, automation tools, and big data analytics. This system helps the manufacturers to ensure the integrity, insights, control, and visibility of the product. The industry 4.0 has introduced smart factories in which the cyber-physical system monitors the process of the factory.
Industry 4.0 combines the digital and physical advancements of the technology. It facilitates the improvements that incorporate the machinery warehouse system and the production facilities. Digital industry technology is the most widely adopted trend in this fourth revolution. The industrial revolution started with the mechanization of water power; the second industrial revolution included assembly line and mass production. The third revolution included computer and automation and the fourth stands for the physical cyber system. Factors such as advancements in robots, artificial intelligence, and cloud computing are driving the growth of the market. The smart factory concept has been applied across most industries that employ a completely new approach for production. The smart products are easily identifiable. Various regions across the globe are experiencing extensive developments. For instance; Europe is at the third position in the global industry 4.0 investments. This industrial revolution holds immense potential and it allows the small factories to meet the demand of its customers. It helps for last minute changes in production and delivers the ability to respond flexibly to disruption. However, lack of cost-benefit will be acting as a restraining factor for the market. On the other hand, increased focus on efficiency and cost of production leading to digitization analysis is expected to provide many opportunities for the key players working in the global industry 4.0 market.
The global industry 4.0 market can be fragmented based on technology vertical, and region. The technology segment is divided into big data, robotics, cybersecurity, internet of things (IoT), advanced human-machine interface (HMI), 3D printing, augmented reality & virtual reality, and artificial intelligence. The vertical segment is divided into industrial equipment, oil & gas, healthcare, automotive, electrical & electronics equipment, aerospace, chemical & materials, food & agriculture, energy & power, and others.
Industrial equipment was the dominating segment of the global industry 4.0 market in 2017 and it is expected to maintain this trend over the forecast period. Increase in demand for industrial equipment is expected to drive the demand for industry 4.0 market over the years to come.
Based on region, the market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North America held the significant share of the industry 4.0 market in terms of revenue during 2017. This can be attributed to the various technological advancements in the region. Asia Pacific industry 4.0 market is also likely to witness noteworthy growth during the next few years.
Some of the major players operating in the global industry 4.0 market are International Business Machines Corporation, ABB Inc., Intel Corporation, Stratasys, Ltd., Alphabet Inc., General Electric Company, Mitsubishi Electric Corp., Microsoft Corporation, Hewlett Packard Enterprise Company, Cisco Systems, and others.
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