Industry 4.0 Market

Globally, the Industry 4.0 market has been growing continuously and exhibiting high growth potential. The market is expected to cross $200 billon market with a CAGR of 16.2% by 2023. Asia-Pacific is the fastest growing market during the forecast period. The global acceptance of technology innovation to improve operational efficiency, collaboration between humans and machines are driving the growth of the industrial internet of things market, which in turn affects the growth of the Industry 4.0 market.

What is Industry 4.0?
Industry 4.0 is the next industrial revolution that makes it possible to gather and analyze data across industrial machines that enable improvement of operational efficiency by reduction in costs associated with the transportation, manufacturing, storing, maintenance and others. Industry 4.0 comprises of different types of technologies such as big data and analytics, augmented reality, autonomous robots, simulation, horizontal and vertical system integration, cloud computing, cyber security, internet of things (IoT), advanced human-machine interfaces, additive manufacturing (3D Printing) and others. The increasing number of investments by end user verticals is anticipated to propel the market growth during the forecast period. However, availability of large amount and structured and non-structured data that has no proper connection is anticipated to provide challenge to the market growth

What are the major end users verticals for Industry 4.0?
The major end use verticals of Industry 4.0 include automotive, energy, healthcare, transportation, manufacturing, oil & gas, agriculture, chemicals and others. The electronics industry is anticipated to have major growth during the forecast period owing to the significant investments by the industry. The IoT is transforming healthcare through clinical wearables and sophisticated surgical equipment. The increasing usage of IoT in self-driving cars, intelligent transportation and logistics systems is anticipated to strengthen the Industry 4.0 market. 

Market Research and Market Trends of Industry 4.0 Ecosystem
  • Increasing number of startups such as Oden Technologies, Argus Cyber Security, Neuron Soundware and others that provides data analytics services to the end user industries such as manufacturing, transportation and others is anticipated to escalate the Industry 4.0 market growth in the near future
  • In Australia, the decline in conventional manufacturing and the rise in educational attainment has resulted in the rise of additive manufacturing (AM) adoption in the country, thereby affecting the  growth of Industry 4.0 market
  • Burgeoning number of companies with significant investments is anticipated to upsurge the growth of the Industry 4.0 market. On such company is Rittal which invested nearly €120m to build a new digitalized plant for manufacturing of large enclosures
  • The logistics industry is clearly striving towards digital transformation, with IoT-based solutions, used along with robotics, automation and machine learning to transform the way that goods are manufactured, stored and delivered. Thus, the companies that proactively invest in these technologies will be able to operate more securely and profitably across their supply chain.

Who are the Major Players in Industry 4.0 market?
The companies referred in our report includes Hewlett Packard Enterprise Company, Oculus VR, ABB Ltd., General Electric Company, Stratasys Ltd., Mitsubishi Electric Corp., Intel Corp., Microsoft Corporation and others

Industry 4.0

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