Global Industry 4.0 Market Projected to Grow at a CAGR of 10.19% by 2027
Research Nester has released a report titled “Industry 4.0 Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
International Federation of Robotics (IFR), in one of its statistics stated that in the year 2018, value of robot installations in the world reached a value worth USD 16.5 billion and automotive industry held the largest share of around 30% of the total share of robot installations.
The statistics portray the rising deployment of robots worldwide on the back of growing need amongst industry owners for greater operational efficiency in the industries and for the deployment of industrial internet of things (IIoT), which is slated to reach a CAGR of around 15.12% during the forecast period (2019-2027). Growing need for automation of industrial processes along with favoring policies of the government for automation, all of these factors together are contributing towards the growth of the global industry 4.0 market.
The global industry 4.0 market is anticipated to record a CAGR of around 10.19% during the forecast period, i.e. 2019-2027. The market is segmented by technology into cyber security, internet of things (IoT), 3D printing, industrial robotics, advanced human-machine interface (HMI), big data, augmented reality & virtual reality, artificial intelligence and others. The industrial robotics segment is further sub-segmented into collaborative industrial robots, SCARA robots, parallel robots, cartesian robots, and others. Among all these sub-segments, SCARA robots sub-segment is anticipated to hold the largest market share on the back of growing need to leverage the production capacities of the end user industries, for instance, automotive, food and beverage, semiconductor and chemical & petrochemical among others.
Geographically, the global industry 4.0 market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia-Pacific is anticipated to hold the largest market share on account of nations, for instance, China, Japan and India among others, who are promoting with Industry 4.0 initiatives in their countries, such as Made in China 2025 (China), Make in India (India) and Industrial Value Chain Initiative (Japan).
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However, concerns for data security on the back of lack of standardization for transmission of data amongst all the interconnected devices in the industry 4.0 network is estimated to act as a barrier to the growth of the global industry 4.0 market.
This report also studies existing competitive scenario of some of the key players of the global industry 4.0 market, which includes profiling of Cisco Systems, Inc. (NASDAQ: CSCO), General Electric Company (NYSE: GE), Arm Limited, Rockwell Automation, Inc. (NYSE: ROK), Intel Corporation (NASDAQ: INTC), Honeywell (NYSE: HON), IBM (NYSE: IBM), ABB (NYSE: ABB), Siemens (ETR: SIE), and Huawei Technologies Co., Ltd.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Industry 4.0 Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall global industry 4.0 industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global industry 4.0 market in the near future.
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This post was originally published on Aerospace Industry