Research Nester has released a report titled “Industry 4.0 Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the industry 4.0 market in terms of market segmentation by technology, by vertical, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global industry 4.0 market is segmented by technology 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. SCARA robots, which is sub-segment of the industrial robotics segment is anticipated to hold the largest market share on account of rising need amongst industries for leveraging their production capacities and further make their production process more efficient and also to imbibe automation of production processes. Moreover, the EMEA SCARA robotics market is anticipated to reach a CAGR of 7.45% over the forecast period (2019-2027) and the U.S. SCARA robotics market is anticipated to achieve a CAGR of 8.41% over the forecast period.
The global industry 4.0 market is anticipated to record a CAGR of around 10.19% during the forecast period, i.e. 2019-2027. Growing need for industrial automation, increasing utilization of robot technology and favorable government initiatives and expenditures for industrial automation, all of these factors are anticipated to contribute towards the growth of the global industry 4.0 market.
Regionally, the global industry 4.0 market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is expected to have largest market share on account of favorable initiatives for industry 4.0 by the governments of nations, such as China, Japan and India. For instance, Made in China 2025 taken by the Chinese government, Make in India by the Indian government and Industrial Value Chain Initiative in Japan are some of the initiatives favoring industry 4.0.
Increasing Adoption of Industrial Internet of Things (IIoT)
In the statistics by the International Federation of Robotics (IFR), value of robot installations in the world reached a value worth USD 16.5 billion in the year 2018. Moreover, in the same year, out of total robot installations share, automotive industry constituted the largest share with 30% share of total robot installations.
There is a rising need for operational efficiency amongst industries on the back of optimization of costs and better quality in the production process. As such, industry owners are shifting their focus towards the adoption of industrial internet of things (IIoT), which is slated to reach a CAGR of around 15.12% during the forecast period. IIoT deals with the deployment of sensors and industrial robots which are interconnected to each other and thereby helps in the automation of production processes, increasing efficiency of work processes. All of these factors are anticipated to promote significantly towards the growth of the global industry 4.0 market.
However, concerns regarding lack of standardization for transmission of data and the security concerns lying behind these interconnected sensors, all of these factors are considered to operate as key restraints to the growth of the global industry 4.0 market.
This report also provides the existing competitive scenario of some of the key players of the global industry 4.0 market, which includes company 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 encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industry 4.0 market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.