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Industry 4.0 Market Size worth US$ 547.1 Billion by 2032, Growing at a CAGR of 16% | Report By IMARC Group

12-05-2023 01:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Industry 4.0 Market

Industry 4.0 Market

IMARC Group, a leading market research company, has recently releases report titled "Industry 4.0 Market Report by Component (Hardware, Software, Services), Technology Type (Industrial Robotics, Industrial IoT, AI and ML, Blockchain, Extended Reality, Digital Twin, 3D Printing, and Others), End Use Industry (Manufacturing, Automotive, Oil and Gas, Energy and Utilities, Electronic and Foundry, Food and Beverages, Aerospace and Defense, and Others), and Region 2024-2032." The study provides a detailed analysis of the industry, including the global industry 4.0 market growth, trends, size, share and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global industry 4.0 market size reached US$ 139.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 547.1 Billion by 2032, exhibiting a growth rate (CAGR) of 16% during 2024-2032. The increasing trend of digitization, continuous advancements in technologies such as the Internet of Things (IoT), artificial intelligence (AI), and robotics, and significant investments in extensive research and development (R&D) activities are some of the major factors propelling the market.

Request For Sample Copy of Report: https://www.imarcgroup.com/industry-4-0-market/requestsample

Factors Affecting the Growth of the Industry 4.0 Industry:

• Technological Innovations:
Technological advancements, such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, and automation, assist in improving industrial processes. IoT devices enable machines and equipment to communicate and share data in real-time, fostering efficient decision-making. Besides this, AI algorithms can analyze vast datasets and allow predictive maintenance and process optimization. Moreover, big data analytics extract valuable insights from huge databases and provide informed decision-making. In line with this, automation streamlines manufacturing processes, reduces human error, and increases productivity.

• Rising Focus on Improving Resource Utilization:
Industry 4.0 solutions focus on optimizing processes, reducing waste, and improving resource utilization. Companies can identify inefficiencies, predict maintenance needs, and streamline operations through real-time monitoring and data analytics. Apart from this, Industry 4.0 assists in decreasing production downtime, lowering energy consumption, and reducing material wastage. Additionally, automation and robotics can replace repetitive and labor-intensive tasks, which benefits in reducing labor costs and improving consistency. Besides this, Industry 4.0 aids in promoting sustainable and improved profitability over the long term, which is bolstering the market growth.

• Growing Demand for Data-Driven Decision-Making:
The growing demand for data-driven decision-making in various sectors is positively influencing the market. In addition, companies operate in dynamic environments where market trends and competitive landscapes change rapidly. Apart from this, data-driven decision-making offers a competitive advantage by providing real-time insights and predictive capabilities. Moreover, Industry 4.0 technologies, such as the Internet of Things (IoT) and advanced analytics, enable the collection and analysis of vast amounts of data, which allows organizations to make informed choices, optimize processes, and identify opportunities and risks.

Inquire Before Buying: https://www.imarcgroup.com/request?type=report&id=6062&flag=F

Industry 4.0 Market Report Segmentation:

Breakup by Component:
• Hardware
• Software
• Services

On the basis of component, the market has been divided into hardware, software, and services.

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

Industrial IoT accounted for the largest market share as it enables operators to adjust settings and troubleshoot issues without physical presence.

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

Manufacturing holds the biggest market share due to the rising need to reduce downtime and enhance productivity.

Breakup by Region:
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Europe enjoys the leading position in the Industry 4.0 market on account of the increasing focus on sustainable practices.

Global Industry 4.0 Market Trends:

The rising focus on optimizing supply chains in organizations is supporting the growth of the market. Apart from this, companies are increasingly seeking to enhance supply chain visibility and improve agility, which is impelling the market growth. Moreover, Industry 4.0 technologies enable real-time tracking of inventory, predictive maintenance of logistics equipment, and efficient demand forecasting.
Furthermore, Industry 4.0 plays a vital role in maintaining sustainability by optimizing resource usage, minimizing waste, and reducing energy consumption, which is strengthening the growth of the market.

Who Are The Key Players Operating In The Industry?

The report covers the major market players including:

• 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)
• Techman Robot Inc. (Quanta Storage Inc.)

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

Explore More Reports:
https://www.imarcgroup.com/micro-lending-market
https://www.imarcgroup.com/mobile-crushers-screeners-market
https://www.imarcgroup.com/medium-voltage-cables-market
https://www.imarcgroup.com/it-outsourcing-market

Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800

About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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