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

VANCOUVER, BC, UNITED STATES, April 28, 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.

The study further explores and provides an in-depth analysis of current market dynamics and recent trends, focusing on various key factors and potential growth opportunities and risks. The report focuses on leading regions and their major countries to anticipate market growth in the forecast years.

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The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Industry 4.0 market players.

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.

Highlights of 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.

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The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.

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

Technology Outlook (Revenue, USD Million; 2017–2027)

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

Regional Segmentation;

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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Key Points of Industry 4.0 Market:

Extensive coverage of the analysis of the Industry 4.0 market

Key insights into the regional spread of the industry in key geographies

Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market

Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Industry 4.0 market

Complete data about the key manufacturers and vendors in the Industry 4.0 market

Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.

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