Asia Industry 4.0 Market To Witness the Highest Growth Globally in Coming Years 2021 to 2026 - Mitsubishi Electric, Omron Corporation, Yokogawa Electric Corporation, Fanuc Corporation

The “Asia Industry 4.0 Market” Research Report 2021-2026 is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The Asian industry 4.0 market was valued at USD 20.19 billion in 2020 and expected to reach USD 71.59 billion by 2026 and grow at a CAGR of 23.41% over the forecast period (2021 - 2026).

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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.

Top Companies in the Asia Industry 4.0 Market: Mitsubishi Electric, Omron Corporation, Yokogawa Electric Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Robert Bosch GmbH, General Electric Company, ABB Ltd, Cisco Systems Inc., Intel Corporation, IBM Corporation, Denso Corporation, and Other.

Industry News and Update:

- November 2019 - Rockwell Automation teamed up with Accenture’s Industry X.0 to develop a digital offering to help industrial clients move beyond existing manufacturing solutions to transform their entire connected enterprise. The collaboration is designed to capitalize on the expertise of both companies to deliver new capabilities for greater industrial supply chain optimization.

Key Market Trends:

Manufacturing Industry Expected to Hold a Significant Share

- The manufacturing industry is one of the most significant contributors to the economy of Asia-Pacific and is currently undergoing a rapid digital transformation. Low-end global manufacturing firms are increasingly moving their operations to Southeast Asia to cut costs due to inexpensive workforce availability.

- Industrial IoT (IIoT) is being adopted significantly in the region in the manufacturing industry. As per the CIC estimates, IIoT in China was approximately CNY 115.7 billion in 2014, which accounted for roughly an 18% share of the global IIoT, and is expected to reach CNY 150 billion by 2020. Further, computer and network technologies, such as cloud computing and mobile computing, are also being implemented in these systems, which is expected to boost the adoption of industry 4.0 in the country.

- Furthermore, in India, the manufacturing industry has gradually emerged as one of the high-growth sectors. 'Make in India' program places India on the world map as a manufacturing hub and provides global recognition to the Indian economy. Also, India is poised to become the fifth-largest manufacturing country in the world by the end of 2020. Moreover, manufacturing giants, such as GE, Siemens, HTC, Toshiba, and Boeing, have either set up or are in the process of setting up manufacturing plants in India. These trends are expected to boost the adoption of industry 4.0 in their plants in the future.

- The trend is also augmented by the recent investment of more than JPY 30 billion by Mitsubishi to increase the output of its factory automation system products to meet growing demand. Further, the company also plans to establish a new plant near its existing facility in Aichi Prefecture and rebuilding an existing plant in Nagoya to bolster production capacity. Similar initiatives are expected to boost the adoption of Industry 4.0 technologies across the region's manufacturing industry.

Regional Analysis:

Japan Expected to Hold a Significant Share

- In Asia-Pacific, Japan has been at the forefront of transforming into an automated industrial economy, and the country is adopting industry 4.0 faster. The country has emerged as a manufacturing hub for factory automation products and supplies it to other regional markets in the Asia-Pacific region.

- Presence of multiple automobile manufacturers, electronic product manufacturing industry, food processing industry makes Japan an important market in this region. Japan, with its highly-developed robotic sector and automation technologies, can be regarded as one of the global leaders in the employment of robotics and automation in the production processes.

- According to the latest report by IFR published in 2019, Japan stands second in the world with 55.2 thousand annual installations of industrial robots, after China with 154 thousand annual installations. Also, the country is the largest manufacturer of industrial robots, catering to 52% of the global demand.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Asia and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: The Asia Industry 4.0 Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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