The global Industry 4.0 Market size is predicted to reach USD 260.71 billion by 2026, exhibiting a CAGR of 16.3% during the forecast period. The rising digitization and emphasis on smart robots and machines can have a positive impact on the industry 4.0 market growth during the forecast period. Moreover, the growing connectivity of machines and systems, along with the exchange of real-time information, can consequently enhance the potential of the industry 4.0 market forecast. The penetration of the internet is likely to create lucrative business opportunities for the market in the forthcoming years. In addition, the introduction of Big Data and innovative methods to handle enormous amounts of data will significantly accelerate the industry 4.0 market trends. For instance, Big Data has impacted the logistics industry by enhancing existing concepts such as fully-automated order fulfilment and delivering products directly to customers.
According to the report, published by Fortune Business Insights in a report, titled “Industry 4.0 Market Size, Share and Global Trend By Application (Industrial Automation, Smart factory, Industrial IoT), By Vertical (Manufacturing, Energy & Utilities, Automotive, Transportation, Chemical, Pharmaceuticals, Consumer Electronics, Metals, Others) and Geography Forecast till 2026” the market size stood at USD 78.19 billion in 2018.The report is aimed at delivering a comprehensive description of the industry 4.0 market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing market expansion, growth patterns, restricting factors, and market strategies.
Lists of the Major Companies Leading in the Industry 4.0 Market are:
- ABB Ltd.
- General Electric Company
- Hewlett Packard Enterprise Company
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Mitsubishi Electric Corp.
- Siemens AG
- Stratasys LTD.
- Yaskawa Electric Corporation
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Transformation in Automation Techniques to Boost Market in Europe
The market in Europe generated a revenue of USD 27.84 million in 2018 and is predicted to remain at the forefront during the forecast period owing to the deployment of connected machines and devices. The transformation in automation techniques will also bolster healthy growth of the market in Europe. Moreover, the increasing network connectivity and real-time data processing will aid the market in the region. Asia Pacific is likely to grow rapidly in the forthcoming years due to the growing adoption of industrial automation and implementation of disruptive technologies.
Key Industrial Development:
May 2019 – Magic Software Enterprises Ltd. unveiled Factory Eye for Industry 4.0 specific applications. The innovative system is aimed at providing detailed analysis to the manufacturer and guide them in real-time decision making.
September 2019: Cisco Systems, Inc. partnered with Emerson Electric Co. to introduce a next-generation industrial wireless networking solution. The solution is designed to transform data management leading to improved plant productivity, reliability, and safety.
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