Dublin, July 18, 2023 (GLOBE NEWSWIRE) -- The "Industry 4.0 Market By Technology Type, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
This report provides an extensive and detailed analysis of the global Industry 4.0 market, examining the transformative impact of emerging technologies, regional market dynamics, key players, and growth opportunities from 2021 to 2031.
Industry 4.0 is transforming how businesses produce, enhance, and disseminate their goods. The Internet of Things (IoT), cloud computing, analytics, AI, and machine learning are among the cutting-edge technologies that manufacturers are incorporating into their manufacturing processes.
Advanced sensors, embedded software, and robotics are all featured in these "smart factories," which gather and analyze data to help with decision-making. When operational data from ERP, supply chain, customer support, and other enterprise systems is combined with data from production operations, even greater value from previously archived information is produced.
Moreover, a significant amount of demand is anticipated for the industry 4.0 market as a result of the rise in adoption of automated tools and equipment in factories, warehouses, and manufacturing facilities, as well as increased investment in additive manufacturing and the emergence of new digital technologies like 5G, loT, AI, and ML.
Furthermore, factors such as rise in adoption of industrial robots and increase in deployment of additive manufacturing primarily drive the growth of the industry 4.0 market. However, expensive deployment costs of industrial robots and complications in integration and interoperability of Industrial robot hamper the market growth to some extent. Moreover, an increase in adoption of 5G in the field of cloud automation is expected to provide lucrative opportunities for the market growth during the forecast period.
Depending on the technology type, the industry automation segment dominated the industry 4.0 market share in 2021 and is expected to continue this dominance during the forecast period, owing to essential elements of Industry 4.0 to detect, measure, analyze, and process various transitions in industrial production facilities, such as changes in positions, length, height, exterior, and dislocations. However, the blockchain segment is expected to witness the highest growth in the upcoming years, owing to enhanced security, privacy, and data openness. Moreover, blockchain technology is widely recognized to benefit the supply chain and manufacturing environments.
Region wise, the industry 4.0 market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to to ongoing technical breakthroughs, financial assistance from regional governments, and initiatives to achieve real-time quality control and real-time visibility across the manufacturing sector.
The U.S. has a sizable industrial base and several businesses with high production capacities; hence it is anticipated to dominate the North America industry 4.0 market. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to the analytics, automation, and machine-learning algorithms that have released human operators from performing a significant percentage of the detailed work. Moreover, Artificial intelligence and machine learning can generate insights that give business operations visibility, predictability, and automation.
Market Dynamics
Drivers
- Rise in adoption of industrial robots
- Rise in deployment of additive manufacturing
Restraints
- Expensive deployment costs of industrial robots
- Complications in integration and interoperability of Industrial robot
Opportunities
- Increase in adoption of 5G in the field of cloud automation
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industry 4.0 market analysis from 2021 to 2031 to identify the prevailing industry 4.0 market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industry 4.0 market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industry 4.0 market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology Type
- Industry Automation
- 3D Printing
- Digital Twin
- Artificial Intelligence (AI) and Machine Learning (ML)
- BlockChain
- Extended Reality (XR)
- Industrial Internet of Things (IIoT)
- Others
By End User
- Manufacturing
- Automotive
- Oil and Gas
- Energy and Utilities
- Food and Beverages
- Aerospace and Defense
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Cognex Corporation
- Schneider Electric SE
- Emerson Electric Co.,
- Rockwell Automation Inc.
- Cisco Systems Inc.
- ABB Ltd.
- Siemens AG
- Honeywell International Inc.
- General Electric Company
- International Business Machines Corporation
For more information about this report visit https://www.researchandmarkets.com/r/51zfzv
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