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Global Industry 4.0 Market Analyzed by Top 5 Key Players by Size, revenue and Forecasts To 2026 | Leading Key Players-Siemens, CISCO SYSTEMS INC., SAP SE, Intelligent Automation Inc., Qualcomm Technologies Inc., NGRAIN (Canada) Corporation, Beijer Electro
Market Analysis: Global Industry 4.0 Market
Global industry 4.0 market is set to witness a growing healthy CAGR of 15.35% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to the surge in the awareness among people concerning the advantages of using industry 4.0 is contributing to the market growth.
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Market Definition: Global Industry 4.0 Market
Industry 4.0 is the fourth industrial revolution in the industry. In this concept usually, the facilities and plant are equipped with the latest wireless technologies and sensors which display and visualize the entire option of the production or manufacturing process which helps the company to make various decisions as well increases the efficiency of the production. These are integrated with technologies such as cloud computing, artificial intelligence, machine learning and Internet of Things. It boosts up the material usage, asset performance, technology usage which helps the company to boosts their profit margins.
Market Drivers:
o The rising adoption of internet in industries is driving the growth of the market
o The surging focus of industries on efficiency and cost of production which is leading to digitization is boosting the market growth
o The surge in the adoption of automation for quality production is fueling the market growth
o The development and innovation in 3D printing technology is likely to drive the market growth
Market Restraints:
o The lack of cost benefit analysis is hindering the market growth
o The lack of skilled personnel is restraining the market growth
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Key Developments in the Market:
o In May 2019, Magic Software Enterprises Ltd. had launched FactoryEye for Industry 4.0 applications. It is specially built for the manufacturers. It has a very user friendly dashboard which will provide the analysis to the manufacturer and assist them in decision making. This launch has expanded the product portfolio of the company as well as expands their customer base.
o In May 2018, Siemens has expanded its product offering by the launch of four MindSphere application centers across the country. These centers will develop digital innovations and machine learning. This expansion will expand the market share of the company as their solutions will transform the entire value chain, and provide speed, quality, productivity and flexibility in their customer's operations.
Competitive Analysis
Global industry 4.0 market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of customer of global industry 4.0 market for Global, Europe, North America, Asia-Pacific, South America and Middle East and Africa.
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Major Market Competitors/Players
Few of the major competitors currently working in the global industry 4.0 market are Siemens, CISCO SYSTEMS INC., SAP SE, Intelligent Automation Inc., Qualcomm Technologies Inc., NGRAIN (Canada) Corporation, Beijer Electronics, Mitsubishi Electric Corporation, Stratasys Ltd., Microsoft, GENERAL ELECTRIC, Zebra Technologies Corp., General Vision, Splunk Inc., Worldsensing, Interset, AIBrain Inc., Rockwell Automation Inc., Hewlett Packard Enterprise Development LP, ABB, Facebook Technologies LLC., ExOne, SRI International, agenturetcetera, Advantech Co. Ltd., Oracle, SAMSUNG, Intel Corporation, Arcadia Data Inc., Sensory Inc. and DENSO CORPORATION among others.
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