WESTFORD, Mass. , April 30,
2024 /PRNewswire/ -- SkyQuest projects that the
Industry 4.0 market will attain a value of USD 513.89 billion by 2031, at a CAGR of 16.2%
over the forecast period (2024-2031). The adoption of Industrial
Internet of Things (IIoT) technologies is a significant opportunity
in the global Industry 4.0 market. Through a combination of
industrial tools, sensors and devices, companies can collect
real-time data and enable device-to-device communication. This data
can be used to streamline processes, reduce downtime and improve
overall operational efficiency. As systems become more
interconnected, ensuring technical connectivity and data security
becomes increasingly important.
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Browse in-depth TOC on "Industry 4.0 Market"
• Pages - 242
• Tables - 70
• Figures – 77
Industry 4.0 Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
USD 154.6
billion
|
Estimated Value by
2031
|
USD 513.89 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 16.2%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Technology, Industry
Vertical and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and the Rest of the world
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Internet of Things
(IoT) have risen in popularity
|
Key Market
Drivers
|
Rising internet
penetration and digitization
|
Internet of Things Segment to Dominate Market Due to Rapid
Adoption across Different Sectors
The Internet of things segment is dominating the global Industry
4.0 market. Offering comprehensive solutions for sectors such
as manufacturing, healthcare and energy, IoT technology enables
device systems that seamlessly talk to each other, enhancing
automation, predictive maintenance and real-time
decision-making.
Advanced Robotics Segment to Lead Market Owing
to Improvement and Flexibility in Traditional
Manufacturing Processes
The fastest growing segment within the Industry 4.0 market is
advanced robotics. Internet of Things (IoT), big data and
analytics, artificial intelligence (AI) and machine learning are
propelling the adoption of robotic solutions in many
industries such as manufacturing, logistics, and healthcare. These
smart robots have an edge over others with the additional
advantages of flexibility, accuracy and creativity. This results in
significant product improvement and flexibility in traditional
manufacturing processes.
North America to Dominate
Industry 4.0 Market Owing to Rise in R&D Activities
North America is dominating the
Industry 4.0 market as its players are increasingly embracing the
concept of smart products. Most factories in the regional market
now are equipped with new machinery and smart industrial
technologies, enabling other industries to shift from traditional
manufacturing to smart manufacturing. The presence of key market
players in the region, coupled with the increase in government
efforts and rise in investments in R&D activities are all
important factors for regional market growth.
Asia-Pacific market is expected
to grow at a significant CAGR during the forecast period. The
region is home to the world's largest manufacturing hubs, including
China, Japan and South
Korea. These countries have been early adopters of
technology, with China leading the
way in this regard. In addition, other countries in the region such
as Australia, Singapore and Malaysia are investing in technology.
Australia, for example, is
promoting the use of robotic technology in the mining industry that
improves efficiency and safety. Asia
Pacific market is growing due to extensive strategies of
companies for adopting industrial automation and disruptive
technologies to add to their production value chain.
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Industry 4.0 Market Insights:
Drivers
• Increasing Usage of Technology in Organizations
• Rising Internet Penetration and Digitization
Restraints
• Significant Implementation Costs
• Industrial Robot Deployment is Too Expensive
Prominent Players in Industry 4.0 Market
• Siemens AG
• ABB Ltd.
• Cisco Systems Inc.
• General Electric (US)
• Honeywell International (US)
• Emerson Electric (US)
• 3D Systems (US)
• Advantech (Taiwan)
• Basler (Germany)
• Cognex Corporation (US)
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/industry-4-0-market
Key Questions Answered in Industry 4.0 Market Report
• What specific growth drivers are projected to impact the
market during the forecast period?
• What are the different strategies adopted by key players
to maintain their position?
• In what ways do regional trends and patterns differ
within the global market, and how do these differences shape the
market's future growth?
This report provides the following insights:
• Analysis of key drivers (increasing usage of technology
in organizations, rising internet penetration and digitization),
restraints (industrial robot deployment is too expensive,
significant implementation costs), opportunities (Internet of
Things (IoT) have risen in popularity), influencing the growth of
global Industry 4.0 Market.
• Market Dynamics: Comprehensive information about the
various products offered by the dominant players in the global
Industry 4.0 Market.
• Product Development/Innovation: An overview of emerging
trends, R&D activities and product launches in the Industry 4.0
market.
• Market Growth: Detailed information on profitable
growing industries.
• Market Trends: Complete information about new products,
emerging geographical areas and recent developments in the
market.
• Competitive Analysis: An in-depth analysis of the market
segments, growth strategies, revenue analysis, and products of the
key market players.
Related Reports:
Global Digital Twin Market
Global Cyber Security Market
Global Artificial Intelligence Market
Global Internet Of Things (IoT) Market
Global Machine Learning Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology