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Industry 4.0 Market Size, Trends, Growth, Report 2022 – 2028

Global Industry 4.0 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 4.0The 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 analyse data to aid in decision-making. Manufacturing data gets new levels of visibility and insight when integrated with operational data from ERP, supply chain, customer service, and other corporate systems. More automation, proactive maintenance, self-optimization of process improvements, and, most importantly, a level of efficiency and user responsiveness previously unachievable are all provided by digital technologies. The manufacturing sector has several opportunities to enter the fourth industrial revolution by developing smart factories. A real-time view of production assets and tools for doing predictive maintenance to reduce downtime are provided by the analysis of enormous amounts of big data gathered from plant sensors.

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Players Covered in Industry 4.0 Market are

  • 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.
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
By Region
  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)
Key Market Drivers:
  • Introduction of AI and IoT in manufacturing propelling the growth of Industry 4.0 Market
Key Market Restraints:
  • Lack of Understanding and Use of Complex IoT Devices by Workforce
Key Opportunities:
  • AI Integrated IoT Devices and Wearable Devices Presents Growing Opportunity
Companies Covered in the report:
  • General Electric, IBM, Siemens, ABB, Emerson Electric, Honeywell International, Advantech, Basler, Cisco Systems, 3D Systems and Other major players.

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

February 2021, ABB has introduced the SWIFT cobot, which has a payload of 4 kg and a reach of up to 580 mm, as well as the advantages of safe collaborative operation and convenience of use. This will offer up new opportunities for increased efficiency in a variety of industries, from manufacturing to logistics and beyond, and allow more companies to embrace automation.

June 2020, Siemens has announced the release of Teamcenter X, a new product lifecycle management (PLM) system that will allow enterprises to swiftly install, expand, and integrate industry-leading PLM technology across functional disciplines. The production of a comprehensive digital twin with multi-domain design and bill of materials integration will be possible with access to Teamcenter X on the cloud.

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