Global Industry 4.0 Market is Expected to Reach USD 156.6 Billion by 2024, at a CAGR of 16.9% from 2019 to 2024 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Industry 4.0 Market by Technology (IoT, Artificial Intelligence, Industrial Metrology, Industrial Robotics, AR & VR, Blockchain, 3D Printing, Digital Twin, and 5G – Offering, Application, and End Users) and Geography – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The Industry 4.0 market is estimated to be valued USD 71.7 billion in 2019 and is expected to reach USD 156.6 billion by 2024, at a CAGR of 16.9% from 2019 to 2024. Increasing adoption of the industrial internet worldwide in manufacturing units, growing focus on enhanced efficiency of machinery and systems, and reduced production costs play a significant role in the growth of the market worldwide. Also, the growing demand for industrial robotics is expected to fuel the growth of the Industry 4.0 market.

IoT is accelerating the speed of modernization in the manufacturing industry. IoT helps the industry to solve challenges such as safety, transportation efficiency, and infrastructure challenges. For instance, IoT is driving the automotive industry space through innovations such as autonomous cars, intelligent transportation infrastructure, and smart fleet management. Moreover, increasing penetration of the internet in technologically advancing economies and growing adoption of wireless sensors and networks across major end-user applications such as healthcare, retail, consumer electronics, industrial, and automotive and transportation has resulted in the growth of the IoT market.

In industrial automation, IoT and M2M communication are the key technologies. Massive applications based on these technologies require high-speed networking, low-latency communication, ultra-fast response times, and a large number of simultaneously connected smart devices. The 5G network is a key enabler of IoT, providing a platform to connect all devices to the internet for using high-speed data transmission and processing.

Industries are opting for digitization and connecting functions and processes, such as supply chain, product development planning, and products across the value chain. The US is expected to be the major contributor to the Industry 4.0 market in North America as it offers a large industrial base and high production capacity of companies. In the technological sphere, the US has been a leader in adopting and applying technologies. Continuous investment in the manufacturing industry in the US would enable the country to continue to retain its technological superiority. 3D printing is now being widely used by manufacturing industries such as automotive, aerospace, and industrial equipment to develop tools, molds, and casts, as well as to develop and repair machinery parts that allow manufacturers to maximize functional integration and consistency while minimizing costs.

This research report categorizes the global Industry 4.0 market on the basis of technology (including offering, application, and end users) and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Industry 4.0 market and forecasts the same to 2024.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in Industry 4.0 Market

4.2 Market, By Technology

4.3 Market, By Technology and Region

4.4 Market, By Geography

5 Market Overview

5.1 Introduction

5.2 Evolution

5.3 Market Dynamics

6 Industry 4.0 Market, By Technology

6.1 Introduction

6.2 3D Printing

6.3 Industrial Robotics

6.4 Blockchain

6.5 Internet of Things (IoT)

6.6 Artificial Intelligence (AI)

6.7 Industrial Metrology

6.8 Digital Twin

6.9 Augmented Reality & Virtual Reality

7 Geographic Analysis

8 Competitive Landscape

8.1 Overview

8.2 Market Ranking Analysis 2019: Industry 4.0 Market

8.3 Recent Developments

8.4 Competitive Leadership Mapping

8.5 Business Strategies Excellence (27 Companies)

8.6 Strength of Product Portfolio (27 Companies)

9 Company Profiles

10 Appendix

Companies Mentioned

  • ABB LTD.
  • AIBrain
  • Amazon Web Services
  • Ansys
  • Cisco Systems, Inc.
  • FANUC
  • General Electric Company
  • General Vision
  • Google
  • Hewlett Packard Enterprise Company
  • Intel Corporation
  • International Business Machines Corporation
  • KUKA
  • Microsoft Corporation
  • Mitsubishi Electric Corp.
  • Right to Win
  • SAP
  • Siemens AG
  • Stratasys LTD.
  • Yaskawa

For more information about this report visit https://www.researchandmarkets.com/r/vzhlp8

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