Industry 4.0 Market Trends, Share, Size, Growth, Sales, Opportunities and Forecast to 2027

pranit savgave

Oct 20, 2022 • 3 min read

Industry 4.0 Market

Industry 4.0 Market Overview:

The growing digitalization of the world is a major factor driving the global industry 4.0 market. According to the World Economic Forum, 3 billion people use smartphones globally, with a 10 percent yearly growth rate. Industry 4.0 innovations such as IoT and voice assistants in smartphones give customers a wonderful shopping experience and help them decide whether or not to buy a product.

Industry 4.0, also known as the 4th Industrial Revolution (4IR), the Industrial Internet of Things (IIoT), or smart manufacturing, is a new phase in the industrial revolution that emphasises automation, real-time data, interconnection, and machine learning (ML). Adopting Industry 4.0 has a number of benefits, including increased productivity, efficiency, flexibility, agility, improved customer experience, and profitable potential for innovation, to name a few. The global report on industry 4.0 market provided with the segment analysis on the basis of technology, industry vertical and region.

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Industry 4.0 Market Scope:

PESTLE analysis is used in the study to assess the advantages and disadvantages of significant market participants. The researcher closely examines the Industry 4.0 market's size, share, trend, total profit, total revenue, and profit margin in order to forecast the market and provide advice to investors. advice from subject-matter experts on market changes.

The report also includes information on the key market participants, including company profiles, product images, specifications, data on capacity and production, price and cost information, and contact information. In this report, the global, regional, and corporate levels of the Industry 4.0 market's trends, size, and value are examined. Using past data and future projections, this study examines the size of the global market for Industry 4.0.

Lack of Security and skilled workers familiar with AI and IoT technologies:

Security is the missing growth component in the industry 4.0 market. Manufacturing is the second most targeted industry for attacks, according to the 2018 IBM-X Force Threat Intelligence Index. Industry 4.0 technologies are allowing hackers to assault manufacturers' data and infecting new systems to seize and vend confidential information due to a lack of protection.

Existing personnel will need to be trained on how to use new IoT and AI-enabled devices and software. While businesses are keen to adopt new technology, they are short on highly educated engineers and personnel who are familiar with AI and the Internet of Things.

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Industry 4.0 Market Key players:

3D SYSTEMS
BASLER
CISCO SYSTEMS
COGNEX CORPORATION
DAIFUKU
EMERSON ELECTRIC
GENERAL ELECTRIC
HONEYWELL INTERNATIONAL
IBM
INTEL
JOHN BEAN TECHNOLOGIES CORPORATION

COVID-19 Impact on Industry 4.0 market:

The COVID-19 outbreak has had a significant impact on the market for Industry 4.0s. Due to the global economic downturn and a labour shortage, Industry 4.0 production facilities have been put on hold. The COVID-19 pandemic has resulted in a significant and prolonged decline in production utilisation. Additionally, staff have been prevented from visiting their facilities due to travel bans and facility closures, which will restrain the growth of the Industry 4.0 market in 2020. However, due to the high demand for Industry 4.0, it is anticipated that the negative effects of COVID-19 on the market will only last temporarily. By early 2021, the industry is expected to fully recover.

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