Global Industry 4.0 Market – Industry Trends and Forecast to 2024
Market Analysis: Global Industry 4.0 Market
The Global Industry 4.0 Market accounted for USD 68.83 billion in 2016 growing at a CAGR of 15.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Industry 4.0 Market
Global 4.0 industry market refers to the fourth industrial revolution. The introduction of internet and its incorporation in operational processes has led to real time connection between humans, machines & objects. It has its wide applications in automotive, electrical & electronics equipment, industrial equipment, aerospace, chemical & materials, food & agriculture, oil & gas, energy & power, healthcare, and others. Increase in acquisition of industrial internet is the major driver of industry 4.0 market. Industry 4.0 is also driven by multiple challenges in the supply chain and customer expectations.On the other side lack of skilled manpower may hinder the market.
Major Market Drivers& Restraints:
- Increasing adoption of industrial internet
- Growth in the adoption of automation for quality production
- Increased focus on efficiency and cost of production leading to digitization
- Shortage of proficient workforce
- Lack of cost-benefit analysis
Market Segmentation: Global Industry 4.0 Market
The global industry 4.0 market is segmented on the basis of technology which is further segmented into industrial robotics cyber security, internet of things (IoT), 3D printing, advanced human–machine interface (HMI), big data, augmented reality & virtual reality, artificial intelligence, and others. The industrial robotics segment is further segmented into collaborative industrial robot, articulated robot, cylindrical robot, scara robot, parallel robot, cartesian robot, and others.
On the basis of application, the global industry 4.0 market is also segmented into industrial automation, smart factory, industrial internet of things (IIOT), and others.
The global industry 4.0 market is also segmented on the basis of vertical which is segmented into automotive, electrical & electronic equipment, industrial equipment, aerospace, chemical & material, food & agriculture, oil & gas, energy & power, healthcare, and others.
On the basis of geography, global industry 4.0 market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Company Share Analysis: Global Industry 4.0 Market
The report for global industry 4.0 market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
Major Market Competitors: Global Industry 4.0 Market
Some of the major players of the global industry 4.0 market are General Electric, Microsoft Corporation, Stratasys Ltd., Oculus VR, ABB Ltd., Mitsubishi Electric Corp., Intel Corporation, Hewlett Packard Enterprise Company, Siemens AG, Cisco Systems, Samsung Electronics Co. Ltd., Rockwell Automation, Inc., Denso Corporation, Qualcomm Inc., Oracle Corporation, SAP SE, Aibrain, Inc., Eos GmbH, Intelligent Automation, Inc., Zih Corporation, Exone Company, Advantech Co. Ltd., Sensory Inc., Rethink Robotics, Ngrain, Interset Software, Inc., Arcadia Data, Inc., U-Blox, General Vision, Inc., Magic Leap, XJET, Splunk Inc., Beijer Electronics Ab, Worldsensing, Sri International, Cyberx, and others.