Global Industry 4.0 market size is projected to reach a market size of USD 240.55 Billion by 2027 at a rapid and steady CAGR over the forecast period, according to most recent analysis by Emergen Research.
Projected steady growth of the global industry 4.0 market can be attributed to growing emphasis on production efficiency and reducing operation cost.
Information and communication technology, which is an integral part of industry 4.0, uses multiple network components and communication protocols for centralized machine supervision and semi-automated/automated decision making, resulting in decreased downtime.
The analysis is done on the basis of the authentic and relevant information obtained from in-depth primary and secondary research. Additionally, the factors expected to drive or restrain the growth of the market are studied extensively in the report.
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Major Key Companies:
- General Electric Company
- Mitsubishi Electric Corporation
- Cisco Systems Inc.
- ABB
- KUKA
- Stratasys Ltd.
- IBM Corporation
- FANUC
- Yaskawa Electric Corporation
- Siemens AG.
Some Key Highlights From the Report
- In September 2019, the Factory Automation EMEA division of Mitsubishi Electric entered into a partnership with software developer ‘CONTACT’, to provide customized smart manufacturing solutions using digital twin technology.
- The Industrial Internet of Things (IIoT) uses smart sensors and actuators for improvement of industrial and manufacturing processes. The key advantage of IIoT is that it enables automation of production processes and thus optimizes operating efficiency. According to a study, automation results using IIoT indicate around 30.0% increase in productivity.
- Industry 4.0 in the pharmaceutical sector helps in the improvement of product quality and productivity, thereby resulting in increased profitability. Also, industry 4.0 makes pharmaceutical production more well-organized and safer. Pharma 4.0, based on industry 4.0, enables systematic automated processes to run by a unified manufacturing control strategy.
Regional Analysis of the Industry 4.0 Market includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The Asia Pacific region is witnessing high growth owing to the presence of a high geriatric population. The adoption of smart technology in the healthcare sector will also impact the market positively.
Elements analyzed in the report:
The Global Industry 4.0 Market report offers an elaborate analysis of the different elements of the industry, such as product development and technological advancements, product types, applications, and major expansion strategies undertaken by prominent companies.
Major companies operating in the global industry 4.0 market include General Electric Company, Mitsubishi Electric Corporation, Cisco Systems Inc., ABB, KUKA, Stratasys Ltd., IBM Corporation, FANUC, Yaskawa Electric Corporation, and Siemens AG.
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