We salute industry experts
helping companies survive and sustain in this economic pandemic; they are
working day and night to help companies take rapid-decisions by finding
- Covid Impact on Industry
4.0 Market, growth/decline in product type/use cases of Industry
4.0 Market due to cascaded impact of Covid on Extended Ecosystem..
- How top 50 companies in Industry
4.0 Market are making rapid shifts in their strategies as we speak
here...
- Outside-in view of top 50 companies
client and client's clients shifting short-term priorities
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.
On
the basis of technology, IoT segment is largest contributor in Industry 4.0
market during forecasted period
The potential benefits of IoT have encouraged
several industrial equipment manufacturers to implement IoT. By connecting
industrial equipment together using wireless connectivity and gathering sensor
data from the equipment, manufacturers can accurately determine the current
state of machines, optimize their performance, identify potential failures, and
plan maintenance schedules accordingly. Its ability to remotely monitor
enterprise assets and perform predictive maintenance is the prime reason for
its increasing adoption. Remote monitoring is a necessity in industries,
especially for equipment deployed under extreme conditions, such as in subsea
oil wells or mines. The failure of equipment operating under such conditions
can be potentially disastrous, as it may result in heavy financial losses and
can also threaten the lives of people in the neighborhood.
Industrial
robotics is expected to be second-largest market for Industry 4.0 market during
forecasted period
The price of industrial robots has decreased
in recent years and has become much easier to program. As a result, the
integration of peripherals, such as end effectors and vision systems, has also
become easier. Manufacturers are turning to automation in response to the
increasing shortage of skilled workers in the manufacturing sector. Robot
density is expected to increase, especially in developed countries, in response
to this skill gap.
Download
PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102536746
APAC
to hold major share of Industry 4.0 market during forecasted period
Increasing the adoption of robotics in
countries such as China, Japan, and South Korea is the major factor for the
growth of the Industry 4.0 market. The low cost of production, enabling various
manufacturers to set up manufacturing facilities, is the key driver for the
robotics market in APAC. The market in APAC is also expected to grow at the
fastest rate, considering the continuous technological advancements and
financial support from the governments. Government initiatives, funding in
R&D, and extensive industrial base are the major factors that make APAC a
dynamic region for Industry 4.0, with Japan and China being the major
contributors.
About
MarketsandMarkets™
MarketsandMarkets™
provides quantified B2B research on 30,000 high growth niche
opportunities/threats which will impact 70% to 80% of worldwide companies’
revenues. Currently servicing 7500 customers worldwide including 80% of global
Fortune 1000 companies as clients. Almost 75,000 top officers across eight
industries worldwide approach MarketsandMarkets™ for their painpoints around
revenues decisions.
Our
850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high
growth markets following the “Growth Engagement Model – GEM”. The GEM aims at
proactive collaboration with the clients to identify new opportunities,
identify most important customers, write “Attack, avoid and defend” strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this
year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s
flagship competitive intelligence and market research platform,
“Knowledgestore” connects over 200,000 markets and entire value chains for
deeper understanding of the unmet insights along with market sizing and
forecasts of niche markets.
Contact:
Mr.
Sanjay Gupta
MarketsandMarkets™
INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
newsletter@marketsandmarkets.com
No comments:
Post a Comment