Industry 4.0 Market - Overview
The Industry 4.0 Market witnesses substantial
revenue growth. According to Market Research Future (MRFR), the global Industry
4.0 market is poised to create a substantial revenue pocket by 2027,
registering a moderate CAGR during the forecast period (2020-2027). Factors
such as rising deployments of IIoT devices and growing automation across
industries boost the market growth.
Industry 4.0 played a causal role in making
operation strategies when the unprecedented crisis of COVID-19 hit the world,
sustaining the global infrastructure and ensuring critical power supply. Many
industries leveraged advanced Industry 4.0 technologies to continue operations
by maintaining safe social distancing or working remotely while meeting
customers’ deadlines and continue product development programs.
Rising adoption of various advanced and futuristic
smart devices, including smart conveyors, sensors, cameras, robots & cobots
across manufacturing sectors worldwide push market size. Increasing adoption of
various services, including device management and connectivity management
provided by Industry 4.0 and their applications, escalates the market growth,
helping organizations enhance various business processes.
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Global Industry 4.0 Market – Segments
The market is segmented into technology,
application, vertical, and region. The technology segment is bifurcated into
augmented reality (AR), Internet of Things (IoT) platforms, cloud computing,
location detection technology, advanced human interactive machine interface,
big data, data fabrication/3D printing, data analytics, smart sensors,
robotics, and others (smart & connected handheld devices, smartphones,
laptops, and computers, etc.).
The application segment is bifurcated into smart
factory, industrial internet of things (IIoT), industrial automation, and
others. The vertical segment is bifurcated into mining, metals, food &
beverages, chemical industry, oil & gas refinery, pharmaceuticals,
industrial manufacturing, aerospace, construction, defense, electronics,
automotive, transportation, and others. The region segment is sub-segmented
into Europe, Americas, Asia-Pacific, and the Rest-of-the-World.
Global Internet of Things Market –
Geographical Analysis
North America and Europe lead the global Industry
4.0 market, witnessing the rising demand and early adoption of innovative
technologies. Besides, the rising penetration of smart devices led by automation
in increasing numbers of enterprises boosts the Industry 4.0 market share. The
presence of leading industry players and well-established technology
development centers in these regions fosters the Industry 4.0 market size.
Global Industry 4.0 Market – Competitive
Landscape
The Industry 4.0 market appears highly competitive
and fragmented due to the presence of many market players. Innovation, mergers
& acquisitions, and expansion remain key trends for these players to gain a
larger competitive share.
They make substantial R&D investments in the
development of new technologies and cost-effective portfolios. Also,
considerable investments are fostered in expanding global footprints and
gaining diverse expertise.
Major Players:
Active participants of the global Industry 4.0
market are SAS (US), MaschinenfabrikReinhausen GmbH (Germany), Bosch Rexroth AG
(Germany), Daimler AG (Germany), General Electric Company (US), Wittenstein AG
(Germany), Klockner & Co. SE (Germany), Wittenstein AG (Germany), Siemens
AG (Germany), Festo AG & Co. KG (Germany), and TRUMPF GmbH (Germany), among
others.
Industry/Innovation/Related News:
Sep. 20, 2021 --- Screevo (Italy), a provider of
hands-free voice assistants for Industry 4.0, announced raising a funding round
of approx. €510K to expand its operations nationally and internationally, such
as in the United States and beyond. LVenture Group would support Screevo in the
development of Italian and European markets. Simultaneously, Boost VC and its
network would help Screevo grow in the United States.
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