Global Industry 4.0 Market by Technology, Industry Vertical - Global Forecast 2031
The Global Industry 4.0 Market is projected to witness notable growth owing to the increasing usage of technology in organizations around the world, rising internet penetration and digitization. The market value stood at USD 133.05 Billion in 2022 and is expected to grow from USD 154.6 Billion in 2023 to reach USD 513.89 Billion by the end of 2031.
Manufacturing Sub-segment to Hold Dominant Share in Industry Vertical Segment
The manufacturing segment is expected to dominate the global market throughout the forecast period. The automotive, transportation and medical sectors are expected to be the most promising for the 4.0 deployment. In recent years, the use of intelligent robotic devices in the construction industry has increased. R&D funds are being invested to develop integrated systems where robots and humans can cooperate in complex tasks through sensor-linked human-machine interfaces.
View more info and detailed Table of Contents here:
https://www.skyquestt.com/report/industry-4-0-market
Asia Pacific to Lead Market with Major Revenue from China
Asia-Pacific dominated the market by 2023 with more than 35.0% in revenue share. In recent years, the market has grown rapidly in this region. This region is home to the world’s largest manufacturing hubs, including China, Japan and South Korea. In addition, other countries in the region such as Australia, Singapore and Malaysia are investing in technology. For example, Australia is promoting the use of robotic technology in the mining industry that improves efficiency and safety. The regional market is expected to grow further in the coming years.
China is leading the growth of the Asia Pacific region due to several initiatives to embrace industrial automation and disruptive technologies to integrate into their manufacturing value chains. The plan covers top ten industries such as semiconductors, advanced robotics, electric vehicles and artificial intelligence. This state-led technology initiative, inspired by the German government’s 4.0 growth strategy, needs to make China a global leader in high-tech. Japan developed Society 5.0 policies to solve economic, social and technological problems.
The global Industry 4.0 Market is semi-consolidated, occupied by major manufacturers like ABB Ltd, Siemens AG, Robert Bosch GmbH, and Rockwell Automation Inc., ABB Ltd, Schneider Electric, Swisslog Holding AG (Kuka AG), Cognex Corporation, Honeywell International Inc., Johnson Controls International PLC, Emerson Electric Company catering to market needs.
Future Growth Opportunities in Market
A key trend in the current competitive environment of the global Industry 4.0 market is the integration of multiple Industry 4.0 technologies to create a complete integrated solution to overcome complex manufacturing challenges and performance managing effort, performance and innovation. This convergence enables companies to create holistic solutions that leverage the strengths of different technologies in business. For example, IoT sensors can gather vast amounts of data from equipment and manufacturing processes, which can then be analyzed by AI algorithms to gain actionable insights and optimize operations in real time. Combining robotics and automation technologies with AI enables autonomous decision-making and adaptive manufacturing processes.
To know more about the Global Industry 4.0 Market, refer to Industry 4.0 Market Size to Surpass USD 442.2 billion by 2030 (skyquestt.com)
Related Reports:
Global Smart Manufacturing Platform Market
Global Robotic Flexible Washer Market
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
USA (+1) 351-333-4748
