Industry 4.0 Market : A Deep Dive into the Industry's Key Applications and Technologies
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Growing emphasis on production efficiency and reducing operation costs in industries is are significant factors influencing market growth.
VANCOUVER, B.C., CANADA, April 24, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the worldwide industry 4.0 market is expected to grow quickly and steadily over the projection period, reaching a market value of USD 240.55 billion by 2027. The steadily increasing emphasis on manufacturing efficiency and lowering operating costs can be blamed for the industry 4.0 market's anticipated stable expansion.
Increased operational effectiveness and self-managing production techniques are made possible by Industry 4.0, allowing for the collaboration and interconnection of people, machinery, equipment, and supply chain management systems. Industry 4.0's information and communication technology uses a variety of network components and communication protocols for centralised machine supervision and semi- or fully automated decision making, which reduces downtime. Additionally, industry 4.0 enables faster batch changeovers and automatic process tracking and tracing, both of which increase productivity.
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Key Highlights of Report
Mitsubishi Electric's Factory Automation EMEA division and software developer "CONTACT" partnered in September 2019 to offer specialised smart manufacturing solutions based on digital twin technology.
Smart sensors and actuators are used by the Industrial Internet of Things (IIoT) to enhance manufacturing and industrial operations. The main benefit of IIoT is that it makes it possible to automate industrial processes, which maximises operational effectiveness. A study found that the outcomes of automation utilising IIoT point to an increase in productivity of about 30.0%.
The pharmaceutical industry benefits from Industry 4.0 by improving product quality and production, which raises profitability. Industry 4.0 also improves the efficiency and safety of the production of pharmaceuticals. Based on industry 4.0, Pharma 4.0 enables the operation of systematic automated processes under a single manufacturing control strategy.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Industry 4.0 market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Industry 4.0 market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Industry 4.0 market.
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
Others
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
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)
What Questions Should You Ask before Buying a Market Research Report?
How is the Industry 4.0 market evolving?
What is driving and restraining the Industry 4.0 market?
How will each Industry 4.0 submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2027?
How will the market shares for each Industry 4.0 submarket develop from 2020 to 2027?
What will be the main driver for the overall market from 2020 to 2027?
Will leading Industry 4.0 markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2027 and which geographical region will lead the market in 2027?
Who are the leading players and what are their prospects over the forecast period?
What are the Industry 4.0 projects for these leading companies?
How will the industry evolve during the period between 2020 and 2027? What are the implications of Industry 4.0 projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the Industry 4.0 market?
Where is the Industry 4.0 market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?
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