Selbyville, Delaware, April 30, 2024 (GLOBE NEWSWIRE) --
The Industry 4.0 market valuation is predicted to exceed USD 555 billion by 2032, as reported in a research study by Global Market Insights Inc.
The advent of Industry 4.0 has catalyzed a seismic shift in market dynamics, fueling unprecedented demand spurred by a cascade of product launches at premier industry events. Companies worldwide are racing to innovate and showcase cutting-edge technologies, capitalizing on this digital revolution.
These events serve as epicenters where pioneering solutions converge with eager clientele, igniting a fervor for next-gen industrial capabilities. For instance, in April 2024, Igus, a leading developer of industrial components, announced that it is presenting its newest technologies at the current edition of Hannover Messe. Among its showcased innovations was IgusGO, a cloud platform driven by artificial intelligence. IgusGO aims to enhance and optimize maintenance and production operations within the context of Industry 4.0. Furthermore, intensifying competition and the globalization of markets are compelling companies to embrace Industry 4.0 to stay ahead.
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Industry 4.0 market from the digital twin segment could exhibit a decent growth rate over 2023-2032, claims the report. Digital twins, virtual replicas of physical assets and processes, revolutionize industries by enabling real-time monitoring, predictive analytics, and simulation. Businesses leverage this technology to optimize operations, enhance product development, and reduce costs. With its promise of improved efficiency, innovation, and competitiveness, the adoption of digital twins drives the relentless growth of the Industry 4.0 industry demand.
The automotive segment will register a noteworthy CAGR from 2023 to 2032, as per the report. As manufacturers seek to meet evolving consumer expectations for smarter, safer, and more sustainable vehicles, they turn to Industry 4.0 technologies. From AI-driven manufacturing processes to IoT-enabled supply chain management and predictive maintenance systems, Industry 4.0 solutions enhance efficiency, quality, and agility in automotive production. This demand is further fueled by the industry's need to stay competitive in a rapidly evolving market landscape, fostering continuous innovation and advancement.
Europe industry 4.0 market will register a robust CAGR from 2023 to 2032. With a strong emphasis on innovation, sustainability, and digital transformation, European industries are increasingly adopting Industry 4.0 technologies. From advanced robotics and automation to IoT integration and data analytics, these solutions empower businesses to enhance productivity, efficiency, and competitiveness. Moreover, supportive regulatory frameworks and government initiatives further fuel the adoption of Industry 4.0, positioning Europe as a key player in shaping the future of industrial manufacturing on a global scale.
Some of the prominent industry 4.0 market include Cisco Systems Inc., Honeywell International Inc., Robert Bosch GmbH, Siemens AG, Schneider Electric, Oracle Corporation, and General Electric Company, among others
The Industry 4.0 market demand is fueled by concerted efforts from companies across various sectors. Recognizing the transformative potential of Industry 4.0 technologies, businesses are investing heavily in research, development, and deployment of innovative solutions tailored to this market. From integrating AI and IoT into manufacturing processes to implementing predictive maintenance systems and digital twin technologies, companies strive to optimize efficiency, reduce costs, and enhance competitiveness. These proactive initiatives meet the growing demand for Industry 4.0 solutions while driving continuous innovation, shaping the future of industrial production, and paving the way for sustainable growth and success.
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In April 2024, Portuguese telecommunications company Nos initiated an open application program targeted specifically at Industry 4.0 startups. They aim to attract startups addressing manufacturing challenges such as optimizing logistics, ensuring quality control, managing production, providing remote assistance and automation systems, and developing robotics.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 4.0 market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 - 2032
2.3 Regional trends
2.4 Technology trends
2.5 End-user trends
Chapter 3 Industry 4.0 Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier Landscape
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.5.1 Partnership/Collaboration
3.5.2 Merger/Acquisition
3.5.3 Investment
3.5.4 Product launch & innovation
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing adoption of digital technologies
3.7.1.2 Rising investments in IoT and Cloud computing
3.7.1.3 Emergence of automated equipment in manufacturing industry
3.7.1.4 Increasing government initiatives for Industry 4.0
3.7.2 Industry pitfalls & challenges
3.7.2.1 Data security and privacy concerns
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.3.1 Siemens AG
4.3.2 General Electric Company
4.3.3 Cisco Systems Inc.
4.3.4 Honeywell International Inc.
4.3.5 Robert Bosch GmbH
4.3.6 Schneider Electric
4.3.7 Mitsubushi Electric
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
