Industry 4.0 Market Forecast 2022-2027: Industry Trends, Share, Size and Growth

The latest research study "Industry 4.0 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global industry 4.0 market size reached US$ 97.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 299.24 Billion by 2027 exhibiting a growth rate (CAGR) of 18.50% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Industry 4.0, alternatively known as the fourth industrial revolution, concentrates on automation, interconnectivity, machine learning, and real-time data. It comprises of 3D printing, advanced robotics, AR and VR systems, the internet of things (IoT), artificial intelligence (AI), big data, predictive maintenance, etc.
These industry 4.0 solutions provide a more integrated and connected ecosystem for businesses that center on manufacturing and supply chain management (SCM). Consequently, they find extensive applications across numerous sectors, including, energy and utilities, automotive, oil and gas, aerospace and defense, electronics, consumer goods, food and beverage, etc.

Industry 4.0 Market Trends and Drivers:

The inflating investments undertaken by multiple businesses on high-end technologies, such as human-machine interaction, analytics and intelligence, connectivity, etc., to enhance production efficiency, avoid downtime, and reduce costs is primarily driving the industry 4.0 market.

Additionally, the elevating adoption of digital work instructors, basic retrofit automation systems for loading, digital performance management, and robotic process automation systems by manufacturing companies to increase profitability is also positively influencing the global market. Furthermore, the growing focus among automobile companies towards setting up new production units based on smart factory solutions is acting as another significant growth-inducing factor.

Apart from this, the development of digital twin technology that can effectively detect irregularities and anomalies in operations and offer a holistic view of the performance of the machinery and equipment is expected to propel the industry 4.0 market in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:
• Hardware
• Software
• Services

Breakup by Technology Type:
• Industrial Robotics
• Industrial IoT
• AI and ML
• Blockchain
• Extended Reality
• Digital Twin
• 3D Printing
• Others

Breakup by End Use Industry:
• Manufacturing
• Automotive
• Oil and Gas
• Energy and Utilities
• Electronics and Foundry
• Food and Beverages
• Aerospace and Defense
• Others

By Geography:
•North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, •Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, •Spain, Russia, Others)
•Latin America (Brazil, Mexico, Others)
•Middle East and Africa

List of Major Key Players:

The major players in the market are Cisco Systems Inc., DENSO Corporation, Fanuc Corporation, Hewlett Packard Enterprise Company, Intel Corporation, International Business Machines Corporation, Nvidia Corporation, Robert Bosch GmbH, SAP SE, Schneider Electric SE, Stratasys Ltd., Swisslog Holding AG (Kuka AG) and Techman Robot Inc. (Quanta Storage Inc.).

Also, Read Latest Research Reports by IMARC Group:
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Blockchain Identity Management Market Report 2022-2027: https://www.imarcgroup.com/blockchain-identity-management-market

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