PLEASANTON CA, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The latest study Report “Global Industry 4.0 Market 2021 by Key Players, Regions, Type, and Application, forecast to 2027” published by AllTheResearch, features an analysis of the current and future scenario of the global Industry 4.0 Market.
The Global Industry 4.0 Market was valued at USD 81.7 Bn in 2020 and is expected to reach USD 298.1 Bn by 2027, with a growing CAGR of 20.3% during the forecast period.
The industry 4.0 market is forecasted to grow at a high rate owing to the accelerating demand for AI and ML from the manufacturing industry. In addition, the increasing trend of Internet penetration and digitalization driven by the increasing demand for efficiency and cost-effective productivity in various industries is driving the industry 4.0 Market.
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Global Industry 4.0 Market Report Overview:
The report overview includes studying the market scope, leading players like General Electric Co., Cognex, Siemens, Daifuku, Honeywell, ABB, etc., market segments and sub-segments, market analysis by type, application, geography. The report covers Leading Countries and analyzes the potential of the global Industry 4.0 market, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.
As per the global Industry 4.0 survey by PwC, digitalization in the production process can help in increasing annual revenue by 2.9% and reduce the overall cost by 3.6% per annum for end-use industries. Digitalization in industry can benefit with increased productivity, enhanced flexibility, and better consumer experience among others.
Key Findings:
- Based on the technology, the industrial IoT segment held the largest market share in 2020
- Based on end user industry, the manufacturing industry accounted for the largest market share in 2020 followed by electronics and foundry industry
- Based on regions, the Asia Pacific region is anticipated to hold the dominating market share in the year 2027 in the industry 4.0 market analysis
The Major Companies Covered in Industry 4.0 Market Report are: General Electric Co., Cognex Corporation, Siemens AG, Daifuku, Honeywell International, International Business Machines , Corporation, ABB Ltd., Intel Corporation, Emerson Electric, John Bean Technologies Corporation, 3D Systems, Nvidia Corporation, Microsoft Corporation, Mitsubishi Electric Corporation, Alphabet Inc. , Techman Robot, Cisco Systems, Inc., Schneider Electric SE, The Yaskawa Electric Corporation, Swisslog Holding AG (Kuka AG), Universal Robots, Beckhoff Automation, Addverb Technologies, BigchainDB GmbH, and more.
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The Global Industry 4.0 Market Segmentation:
- By Technology
- AI and ML
- Extended Reality
- Industrial Robotics
- 3D Printing
- Industrial IoT
- Digital Twin
- Blockchain
- Machine Condition Monitoring
- Others (Industrial Sensor, HMI, Machine Vision)
- By End User Industry
- Aerospace and Defense
- Oil and Gas
- Electronics and Foundry
- Manufacturing
- Food and Beverage
- Automotive
- Energy and Utilities
- Other
Regional Analysis of Industry 4.0 Market:
In terms of geography, the Asia Pacific region held the largest market share in the year 2020 and is expected to grow significantly during the forecast period owing to accelerating adoption of advancements in technology such as, robotics, artificial intelligence and IoT in Asia pacific countries like India, China, and Japan. Key players present in the market are extensively investing in the region For instance, in February 2020, Tata Elxsi, a design and technology services firm announced a partnership with Tata Motors group firm, India-based automotive manufacturers to develop a unified and connected vehicle platform.
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COVID-19 Impact on the Industry 4.0 Market Analysis
The impact of COVID-19 has greatly affected the market of industry 4.0 Market. The outbreak of the covid-19 pandemic has resulted in the testing time for the manufacturing industry. Forced lockdowns, moment restrictions, and unavailability of the workforce in the manufacturing sector has led to the enhancement of manufacturing processes with the extensive implementation of artificial intelligence and the internet of thing. Some of the processes such as equipment maintenance and equipment condition monitoring were carried out using AI and ML in the absence of a regular workforce. The advancements in these processes were observer to be less time-consuming, more efficient and resulted in cost-cutting for manufacturing plants. The industry 4.0 market is therefore witnessing significant growth with increased adoption in the manufacturing industry during the covid-19 outbreak.
Key Highlights of the Table of Contents:
- Introduction
- Technology and Regulatory Landscape for Industry 4.0
- Industry 4.0 Market Pricing Analysis
- Industry 4.0 Market by technology
- Industry 4.0 Market by End User Industry
- Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- Key Strategic Insights
- Key Market Trends / Recent Developments
- Competitive Scenario
- Competitive Strategies of Key Players
- Strength of product portfolio
- Ranking of Key Players
- Presence of players by Geographies
- Key Global Players
Key Coverage and Benefits:
- The report will help in developing business strategies by understanding the trends shaping and driving the global Industry 4.0 market.
- The report provides detailed historical and forecasted data of Industry 4.0 from 2016-2027.
- Organize sales and marketing efforts by identifying the best opportunities for Industry 4.0 in the US, Europe, and Japan.
- To understand the future market competition in the global Industry 4.0 and insightful review of the key market drivers and barriers.
- To understand the regulatory scenario in major markets.
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The report also provides an in-depth analysis of recent news developments and investments:
- In March 2021, ABB, Inc., a Swedish–Swiss multinational automation company, signed an agreement to start a partnership with Nestle, Inc. The partnership is aimed to install monitoring software in confectionery factories.
- In November 2020, Ansys, Inc., an American software company, announced a strategic technological partnership with LG Electronics, Inc., a South Korean multinational electronics company. The partnership is primarily aimed to develop a virtual learning portal created by Ansys, Inc.
- In October 2020, Cisco Systems, Inc., an American multinational networking hardware company, announced a successful acquisition over BabbleLabs Technology, Inc., a California-based startup that uses AI to separate human voices from other unwanted noises in video conferencing.
View Recent Published Press-release by AllTheResearch on Artificial Intelligence in Manufacturing Market at https://www.alltheresearch.com/press-release/industry-4-0-market
Frequently Asked Questions:
- What are the key factors driving Industry 4.0 Market expansion?
- What will be the value of Industry 4.0 Market during 2021- 2027?
- Which region will make notable contributions towards global Industry 4.0 Market revenue?
- What are the key players leveraging Industry 4.0 Market growth?
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