Sarasota, FL -- (SBWIRE) -- 10/15/2018 -- Global Industry 4.0 Market: Overview

Fourth industrial revolution is termed as Industry 4.0 which is the evolution of the new industrial technology that is completely digitalized. By making use of the advanced technologies such as artificial intelligence, cloud computing, advanced robotics, and other technologies the industrial technology has revolutionized. A lot of changes has been seen in the development of the machines such as they are now self-optimized and have the ability of self-configuring which yields benefits in delivering efficient services and quality goods.

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Global Industry 4.0 Market: Growth Factors

The major factors that are driving the industry 4.0 market are the growing popularity of the smart factories, digitalization in the services and solutions, integration and digitalization of the horizontal and vertical value chains, and the increased flexibility in the production. Owing to the industry 4.0, immense opportunities are opening up as the smart factories gain the ability to satisfy individual customer requirements. Other benefits that are gained through industry 4.0 are end-to-end transparency in the manufacturing processes, flexibility to deliver last-minute changes owing to the dynamic nature of the engineering processes, and optimized decision-making ability. Owing to all these factors, the demand and the popularity of the industry 4.0 market is growing rapidly. Start-ups and the small and medium enterprises will benefit immensely from industry 4.0 as it will help them in developing value-based business models.

Global Industry 4.0 Market: Segmentation

The global industry 4.0 market can be segmented on the basis of technology and vertical. In terms of technology, the industry 4.0 market can be segregated into cybersecurity, 3D printing, big data, artificial intelligence, industrial robotics, internet of things, advanced human-machine interface, and augmented reality & virtual reality. Based on the vertical, the market can be categorized into aerospace, electrical & electronics equipment, food & agriculture, energy & power, oil & gas, automotive, chemicals & materials, healthcare, industrial equipment, and others which can be further fragmented into metal & mining, water & wastewater, textile & cloth, pharmaceutical, paper, pulp, & packaging, foundry & forging, and precision & optics.

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Global Industry 4.0 Market: Regional Analysis

It is anticipated that the Asia Pacific will dominate the industry 4.0 market. The countries that will majorly contribute to the market development are China and Japan. The increasing applications of industry 4.0 in China contribute to the growth of the market. Increased adoption of the robotics in the countries such as South Korea, Japan, and China has triggered the demand for industry 4.0. Other factors that are driving the industry 4.0 market in the Asia Pacific are supporting government policies such as Make in India, Made in China 2025, and Industrial Value Chain Initiative in Japan and the initiatives taken for developing smart factories. Other regions such as North America and Europe are also witnessing a significant growth in the industry 4.0 market.

Global Industry 4.0 Market: Competitive Players

The key market players that are trending in the global industry 4.0 market are International Business Machines Corporation, Microsoft Corporation, Alphabet Inc., Mitsubishi Electric Corporation, Hewlett-Packard Enterprise Company, Qualcomm Inc., Texas Instruments Inc., 3D Systems Corporation, Basler AG, General Electric Company, Cisco Systems, Stratasys Ltd., ABB Ltd., Intel Corporation, Siemens AG, Samsung Electronics Co. Ltd., Rockwell Automation Inc., Cognex Corporation, and Denso Group.

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