Pune, India -- (SBWIRE) -- 12/20/2019 -- A new report published by Infinium Global Research on "Industry 4.0 Market (Component - Hardware, and Software; Technology - Industrial Robotics, Internet of Things (IoT), 3D Printing, and Machine Learning; End User - Industrial Equipment, Automotive, and Other): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024." Industry 4.0 is the trend in automation and data exchange in the manufacturing technologies and processes that include cyber physical systems (CPS), Internet of Things (IoT), Industrial Internet of Things (IIOT), cloud computing, cognitive computing and artificial intelligence. Technology has played a vital role in progressing most areas in our day to day life. The global industry 4.0 market is projected to grow at a CAGR of 15.3% over the forecast period of 2018-2024.

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Adoption to Digitalization and Automation from Industries Generates Opportunities for Industry 4.0 Market

The rising technological advancements, improved productivity, manufacturing efficiency and enabling of faster, more flexible and efficient process boosts the growth of the global industry 4.0 market. Growing adoption to internet of things and its application in various industries enhance growth for industry 4.0 market. Technological advancements such as self-driving vehicles, expanding utilization of robot technology and investments by the government on digitalization drive the market for global industry 4.0 market. Moreover, adoption to digitalization and automation from industries generates opportunities for industry 4.0 market in the world.

Dominance Held by Asia-Pacific in the Global Industry 4.0 Market

Geographically, Asia-Pacific holds a dominant share in the global industry 4.0 market owing to the growing government endorsements for industry 4.0 in emerging countries like India, China and Japan. Projects like Make in India, Make in China and Industrial Value Chain Initiative in Japan gives a surging hike for the industry 4.0 market in the Asia-Pacific region. North America and Europe are projected to grow at a substantial rate over the forecast period. Due to rise in demand for internet of things and cloud-based computing North America region drives at a rapid pace in the global industry 4.0 market.

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Industrial Robotics Dominates in the Industry 4.0 Market

According to the analyst, the scope of the market is analyzed on the basis of component, technology, and end user. Based on component the study includes hardware and software. Based on technology the market includes industrial robotics, internet of things (IoT), 3D printing, and machine learning. Industrial robotics hold dominance in the global industry 4.0 market owing to their improved productivity, lower possibilities of human errors, rising production volume etc. Based on end user the study includes equipment, automotive, and other.

Main Market Players of the Industry 4.0 Market

Based on the analysis of the market the leading companies in the study include ABB, DENSO CORPORATION, SAP, Basler AG, GENERAL ELECTRIC, Intel Corporation, Microsoft, Cognex Corporation, Qualcomm Technologies, Inc and IBM. In October 2019, ABB Motors and Mechanical announced acquiring a majority of 67 percent stakes in Shanghai Chargedot New Energy Technology Co. Ltd. "This investment is a further demonstration of ABB's commitment to enabling sustainable mobility," Tarak Mehta, President, ABB's Electrification business. "With China forging ahead in the development of a comprehensive e-mobility ecosystem, this acquisition will give ABB a significant role in delivering growth, working closely with SAIC and other leading Chinese car manufacturers."

"Chargedot was one of the first high-tech enterprises in China to focus on new energy vehicle charging solutions. By joining with ABB, we will be positioned strongly to make the next big leap forward," Mao Chunhua, CEO, Chargedot.

In August 2019, European Commission announced clearance of acquisition of the Hirose plant by DENSO Corporation. In January 2019, SAP announced completion of the acquisition of Qualtrics International Inc.

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About Infinium Global Research
Infinium Global Research provides in-depth insight regarding the market, its trends, indicators, and factors that drive and restrain the growth of the market. IGR expertise in the analysis of the market growth using analytical tools, that were also used to analyze the market for the Industry 4.0 market. Other than industry automation, IGR also deals in the field of agriculture, food and beverage, aerospace and defense, chemical and materials, healthcare and medical devices, consumer goods and packaging, energy, infrastructure and mining, ICT, semiconductors and electronics and automotive.  

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the industry 4.0.

=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.