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Industry 4.0 Market Overview 2023-2032 - Market Size, Growth Rate And Key Growth Drivers By 2032
Industry 4.0 Market
The Business Research Company's Industry 4.0 Global Market Report 2023 identifies increased adoption of industrial robots as the major driver for the Industry 4.0 market's growth in the forecast period. Industrial robots refer to mechanical machines that are designed to do production-related tasks automatically in industrial settings. Industrial robots make use of industry 4.0 by merging cutting-edge technologies like automation, IoT, and artificial intelligence to enable intelligent, autonomous, and linked robotic systems for improved productivity, adaptability, and efficiency in production operations.
The global industry 4.0 market is expected to grow from $139 billion in 2022 to $167.12 billion in 2023 at a compound annual growth rate (CAGR) of 20.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The industry 4.0 market is expected to reach $341.49 billion in 2027 at a CAGR of 19.6%.
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Major competitors in the Industry 4.0 market are Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., NVIDIA Corporation
A key trend in the Industry 4.0 market includes Technological innovation. Companies operating in the industry 4.0 market are adopting innovations to sustain their position in the market. For instance, in August 2022, Unbox Robotics, an Indian-based robotic technology company, launched UnboxSort, a first-of-its-kind vertical robotic sortation solution. It enables e-commerce merchants to scale up logistics to accommodate high parcel volumes. UnboxSort is the company's industry 4.0 plug-and-play robotics system driven by Swarm Intelligence. It also uses Autonomous Mobile Robots (AMRs) to sort parcels vertically into smart racks in small spaces at fulfillment centers and warehouses.
Read More On TheGlobal Industry 4.0 Market Report Here: https://www.thebusinessresearchcompany.com/report/industry-4-0-global-market-report
The Industry 4.0 market is segmented -
•By Technology: Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, Human Machine Interface (HMI), Artificial Intelligence In Manufacturing, Digital Twin, Automatic Guided Vehicles (AGV), Machine Condition Monitoring
•By Component: Solution, Services
•By Enterprise Size: Small And Medium Enterprises, Large Enterprise
•By End-User: Manufacturing, Automotive, Oil And Gas, Energy And Utilities, Electronics And Foundry, Food And Beverage, Aerospace & Defense, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Industry 4.0 market.
The Business Research Company's "Global Industry 4.0 Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industry 4.0 Market Include:
1. Executive Summary
2. Industry 4.0 Market Characteristics
3. Industry 4.0 Market Trends And Strategies
4. Industry 4.0 Market - Macro Economic Scenario
5. Global Industry 4.0 Market Size and Growth
..................
32. Global Industry 4.0 Market Competitive Benchmarking
33. Global Industry 4.0 Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industry 4.0 Market
35. Industry 4.0 Market Future Outlook and Potential Analysis
36. Appendix
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