Press release
Industry 4.0 Market 2018 Global Leaders Overview: Daimler AG, SAS, Siemens AG, Wittenstein AG, TRUMPF GmbH, General Electric Company
Market Synopsis
The global industry 4.0 market is predicted to expand at an incredible CAGR during the forecast period (2017-2022) owing to the evolution of cloud computing technologies. Industry 4.0 stands for fourth industrial revolution. Grouping of several major innovations in digital technology is referred to as Industrial 4.0. Technologies comprise cloud computing, advanced robotics and artificial intelligence, sensors, other new marketing models, Internet of Things, data capture and analytics, digital fabrication (3D printing), software-as-a-service, smartphones, and other mobile devices. Industry 4.0 is the development of machines which uses self-configuration, self-optimization, and artificial intelligence to complete task and deliver better quality services and goods.
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Drivers and Constraints Impacting the Market
Evolution of cloud computing technologies, implementation of smart factory concept, technological advancements in the electronics industry, factory automation technology, and government initiatives by various countries are predicted to drive the market over the assessment period. Moreover, integration and digitization of horizontal and vertical value chains, digital business models, digitization of service and product offerings, customer access, faster and efficient production, and growing popularity of smart factories are some of the major factors stimulating the market growth over the review period. Development of value chains is one of the primary factors propelling the market growth over the assessment period.
On the flip side, the risk associated with cybersecurity along with slow pace of implementation is the major threat inhibiting the market growth over the assessment period.
Key Players
The prominent players in the Industry 4.0 Market are – Bosch Rexroth AG (Germany), Maschinenfabrik Reinhausen GmbH (Germany), SAS (U.S.), Siemens AG (Germany), Wittenstein AG (Germany), General Electric Company (U.S.), Daimler AG (Germany), Klöckner & Co. SE (Germany), TRUMPF GmbH (Germany), Festo AG & Co. KG (Germany), Wittenstein AG (Germany) among others.
Worldwide Industry 4.0 Market – Segments:
The Industry 4.0 market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
• By Technology: Comprising Cloud computing, IoT platforms, Augmented reality, Location detection technology, Advanced human machine interfaces, Big data Analytics, Smart sensors, 3D printing, Mobile devices, among others
• By Application: Industrial Automation, Smart Factory, Industrial internet of things (IIoT), among others
• By End-Users: Industrial manufacturing, Oil & gas, Construction, Aerospace & defense, Electronics, Automotive, Transportation, Chemical, Pharmaceuticals, Mining & metals, Food & beverages, among others.
• By Regions: North America, Europe, APAC and Rest of the World.
Worldwide Industry 4.0 Market – Regional Analysis:
North America and Europe regions would dominate the industry 4.0 market by the forecast period. However countries like in Japan and Germany are the farthest along in digitizing internal operations and partnering across the horizontal value chain owing to the high investments in technology and employee training. They view their digital transformation, primarily in terms of gains in operational efficiency, cost reduction and quality assurance. China is one of the countries that stand to gain the most from automating and digitizing labor-intensive manufacturing processes. In addition, Chinese companies are highly flexible and are open to digital change, and the Chinese workforce is embracing digital technologies. The study reveals that at present Asia Pacific companies report the highest digitization and digital integration levels.
Industry/ Innovations/ Related News
January 29, 2018 – Two Italian companies - Italtel, a leading telecommunications company in IT system integration, managed services, Network Functions Virtualization and Internet of Things solutions, and Rold Elettrotecnica, a leading household appliances component supplier, announced their partnership in the field of Industry 4.0.
The two companies have signed a Memorandum of Understanding that will see them work together to develop technological solutions and jointly launch innovation projects to improve industrial processes. These will be aimed at the Industry 4.0 market, both in Italy and across the world, through the creation of an ecosystem of partners.
January 11, 2018 – Announcing the vital acquisition of IoT ImpactLABS, the renowned Context Labs mentioned that the company will integrate IoT ImpactLABS expertise into its core blockchain-based offerings to accelerate the 'Supply Chain of Everything'.
January 04, 2018 – Bosch acquired 5 percent indirect ownership stake in HERE Technologies – seeing the possible synergies with data-based services for Industry 4.0, smart homes, and smart cities. The collaboration could happen in the Industry 4.0 domain, for example. One potential area of application is intralogistics. For example, high-definition indoor navigation maps could be used to automate and streamline flows of goods all the way to the production line.
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Intended Audience:
• Process Automation and Instrumentation Manufacturers
• Industrial Robot Manufacturers
• Semiconductor product designers and fabricators
• Automation product manufacturers
• Technology investors
• Hardware & software manufacturers
• MES (Manufacturing Execution System)
• MOM (Manufacturing Operations Management)
• System Integrators
• Government Organizations
• Research/Consultancy firms
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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