Industry 4.0 Market - Developments And Trends, Potential Of The Market From 2022-2028

Market Overview:

Global Industry 4.0 Market Size Was Valued at USD 87.21 Billion in 2021 and is Projected to Reach USD 312.48 Billion by 2028, Growing at A CAGR of 20% From 2022 to 2028.

Industry 4.0 is used interchangeably with the fourth industrial revolution and represents a new stage in the organization and control of the industrial value chain. The manner that firms create, improve, and distribute their products is changing as a result of Industry 4.0. The Internet of Things (IoT), cloud computing, analytics, artificial intelligence (AI), and machine learning are among the cutting-edge technologies that manufacturers are integrating into their manufacturing processes. With the use of sophisticated sensors, embedded software, and robotics, these smart factories gather and analyze data to aid in decision-making.

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Market Dynamics:

Driver:

The prospect of industry 4.0 growth is increasing as internet usage rises. According to a May 2021 statement from Robert Bosch Engineering and Business Solutions Private Limited, Phantom Edge will be made available to provide real-time views of electric characteristics, appliance level information, electrical energy consumption, and operating utilization. Since the advent of Industry 4.0, the usage of AI and IoT technologies in industrial manufacturing has increased. Using integrated AI and IoT systems, it is possible to improve production procedures, give early warnings, monitor quality, and predict machine failure.

Opportunities:

The global COVID-19 epidemic has sped up the implementation of Industry 4.0 and increased preparedness for pandemics. This is due to the fact that technology, such as automation and robots, serves to lessen human dependence in the case of a pandemic while simultaneously enabling the human workforce to defend itself against these threats. The Made-in-China 2025 national strategy, which China's State Council presented in 2014, was created to convert China from the world's workshop into a global manufacturing giant. Many applications in Industry 4.0 and Made-in-China 2025 call for a mix of newly developed new technologies, which is stimulating the development of Industry 4.0. These technologies come from a variety of fields, including enterprise architecture, service-oriented architecture (SOA), cloud computing, industrial integration, and cyber-physical systems.

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Market coverage
•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - By Technology, By Application, By Vertical
•Competitive Landscape - General Electric, IBM, Siemens, ABB, Emerson Electric, Honeywell International, Advantech, Basler, Cisco Systems,3D Systems

Market Segmentation

By Technology
•Industrial Robots
•AI in Manufacturing
•Digital Twin
•Machine Vision
•Industrial Sensors
•Blockchain
•Machine Condition Monitoring
•Industrial 3D Printing
•HMI
•AGV's

By Application
•Smart factory
•Industrial Automation
•Industrial IoT

By Vertical
•Manufacturing
•Aerospace and Defense
•Automotive
•Oil and Gas
•Energy & Utilities
•Electronics and Consumer Goods
•Others

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By Region
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
•Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of South America)

Major Key Players Considered in the Market
•General Electric
•IBM
•Siemens
•ABB
•Emerson Electric
•Honeywell International
•Advantech
•Basler
•Cisco Systems
•3D Systems
•Techman Robot
•AIBrain
•Addverb Technologies
•Cognex Corporation
•Intel
•John Bean Technologies Corporation
•Nvidia
•Stratasys
•Daifuku
•Universal Robots
•Algolux and other major players.

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Key Industry Developments In Industry 4.0 Market
October 2021, Nokia has unveiled the industry's first cloud-native, mission-critical industrial edge solution, allowing businesses to accelerate their OT digitization program and progress toward Industry 4.0

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