Press release
Industry 4.0 Market 2021 Net Worth is US$ 337.10 billion And Grow At A 16.4% CAGR Forecasts by 2028 | With Top Key Vendors: ABB Ltd, Siemens AG, Cognex Corporation, Schneider Electric SE
Industry 4.0 Market 2021-2028
New study report " Industry 4.0 Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview:
The global industry 4.0 market size is expected to gain momentum by reaching USD 337.10 billion by 2028 while exhibiting a stellar CAGR of 16.4% between 2021 to 2028. In its report titled “Industry 4.0 Market,” Fortune Business Insights mentions that the market stood at USD 101.69 billion in 2020.
The increasing internet penetration is boosting the market growth opportunity. The recent advancements in digital technologies, along with industrial automation, have widened the opportunity for the market. For instance, in May 2021, Robert Bosch Engineering and Business Solutions Private Limited announced the launch of Phantom Edge to offer real time view of electric parameters, appliance level information, electrical energy consumption, and operating usage. The Phantom Edge combines of Artificial Intelligence and Internet of things (IoT) and can be used in various sectors including retail, industrial manufacturing, healthcare, agriculture and mobility among others.
List of Key Players Profiled in the Report:
ABB Ltd (Zürich, Switzerland)
Siemens AG (Berlin, Germany)
Cognex Corporation (Massachusetts, U.S.)
Schneider Electric SE (Rueil-Malmaison, France)
Honeywell International Inc. (North Carolina, U.S.)
Emerson Electric Co. (Missouri, U.S.)
Rockwell Automation, Inc. (Wisconsin, U.S.)
General Electric Company (New York, U.S.)
Robert Bosch GmbH (Stuttgart, Germany)
Cisco Systems Inc. (California, U.S.)
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Competitive Landscape:
Key Players to Focus on Collaborations to Strengthen their Market Prospects
The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development:
March 2020 - Cisco Systems Inc. announced its collaboration with Microsoft Corporation. This collaboration will allow seamless data orchestration from Cisco IoT Edge to Azure IoT Cloud, and it also empower users to get a pre-integrated IoT edge-to-cloud application solution and seamless flow of data through IoT edge.
Market Segmentation:
By application, the market is segmented into industrial automation, smart factory, and industrial IoT.
Based on application, the industrial automation system held the market share of 21.0% in 2020. This is attributable to increasing adoption of automated services by businesses to increase their efficiency.
By vertical, the market is divided into manufacturing, energy & utilities, automotive, oil and gas, aerospace and defense, electronics and consumer goods, and others.
Lastly, in terms of geography, the market is divided into North America, Europe, South America Asia Pacific, and the Middle East & Africa.
Regional Insights:
Europe to Dominate Backed by Increasing Investments
Europe is expected to remain at the forefront and hold the largest position in the market during the forecast period owing to the substantial investment in technologies and skills to maintain its position in the global market. The deployment of connected objects and automation techniques has transformed the German manufacturing process and has given rise to the fourth industrial revolution. The region’s market stood at USD 34.60 billion in 2020.
North America is expected to showcase significant industry 4.0 market share in upcoming years, owing to the presence of major players operating in the region, government initiatives, and increasing funding in research and development activities are vital factors that is propelling the regional market.
What does the Report Provide?
The market report offers a comprehensive analysis of various factors such as the key drivers, and restraints which are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.
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Table Of Content:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Industry 4.0 Key Players Market Share Insights and Analysis, 2020
Continue….
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Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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