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Growing emphasis on production efficiency and reducing operation costs in industries is are significant factors influencing market growth.

VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ -- The global industry 4.0 market 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. Industry 4.0 enables increased operational efficiency and self-managing production methods, thus enabling humans, equipment, machines, and logistics and supply chain management systems to be interconnected and collaborate. 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. Also, industry 4.0 allows for automatic process tracking and tracing and faster batch changeovers leading to improved productivity.

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Some major players in the global market include

General Electric Company, Mitsubishi Electric Corporation, Cisco Systems Inc., ABB, KUKA, Stratasys Ltd., IBM Corporation, FANUC, Yaskawa Electric Corporation, and Siemens AG.

Emergen Research has segmented the global industry 4.0 market in terms of technology, industry vertical, and region:

Technology Outlook

Artificial Intelligence

Internet of Things

3D Printing

Augmented Reality

Virtual Reality

Blockchain

Industrial Robotics

Digital Twin

Industrial Metrology

Others

Industry Vertical Outlook (Revenue, USD Million; 2017–2027)

Manufacturing

Energy & Utilities

Chemical

Transportation

Pharmaceutical

Metals

Consumer Electronics

Others

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Detailed Regional Analysis covers:

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)

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.

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Valuable Market Insights:

The report highlights the latest trends observed in the consumption pattern of each regional segment.

Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.

The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Industry 4.0 market.

The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

Questions addressed in the report:

What is the estimated market growth rate throughout the forecast period?

Which end-use industry is expected to witness the highest demand for Industry 4.0 in the near future?

What is the regulatory framework governing the application of Industry 4.0 in the food industry?

Which manufacturing processes are utilized for the production of Industry 4.0?

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