In this rapidly changing environment, companies are expanding their scale of operations by increasing investments industrial internet of things (IIoT), high spending, growing economies of countries, and high investment in R&D segment. In Industry 4.0 market innovation is a key driver. Internet of things (IoT) is considered as a major component with respect to Industry 4.0 therefore industries adopting Internet of Things has increased the demand for Industry 4.0. The study reveals that evolution of cloud computing technologies, technological advancements are the factors driving Industry 4.0 market. The study indicates that data security issues are greatly increased by integrating new systems and more access to those systems. This factor is restraining the growth of Industry 4.0 Market. Apart from it a high degree of reliability and stability are required but it is difficult to achieve it, which results as challenge for Industry 4.0 market.
Industry 4.0 introduced a new concept called “smart factory”, in which cyber-physical systems monitor the physical processes of the factory and make decentralized decisions. Therefore the companies adopting smart factory would dominate the Industry 4.0 market by the forecast period. The early adopters of Industry 4.0 will have this advantage. By the recent news companies like Siemens and General Electric Company are already rushing to solidify themselves as platform providers and are fully embraced to approach towards Industry 4.0.
- Bosch Rexroth AG (Germany)
- Maschinenfabrik Reinhausen GmbH (Germany)
- SAS (U.S.)
- Siemens AG (Germany)
- Wittenstein AG (Germany)
- General Electric Company (U.S.)
- Daimler AG (Germany)
- Klöckner & Co. SE (Germany)
- TRUMPF GmbH (Germany)
- Festo AG & Co. KG (Germany)
- Wittenstein AG (Germany)
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Industry 4.0 Market Segmentation
The Industry 4.0 Market has been segmented on the basis of technology, application and end user. Considering the end-user segments it has been observed that Industrial manufacturing sector, electronics sector and construction sector would dominate the Industry 4.0 market by the forecast period. The electronics sector has witnessed high investments. The main focus of this investment projected on digital technologies like sensors or connectivity devices, as well as on software and applications like manufacturing execution systems (MES). In the application segment Industrial Automation is growing on a larger scale compare to smart factory and industrial IoT.
Market Research Analysis:
Market Research Future Analysis shows that the need for high quality and short delivery time at a competitive price, need for flexible and optimized production processes, shortened product life cycles and Increasing demand for service and others are driving the Industry 4.0 market.
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Regional analysis for Industry 4.0 market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. The study reveals that North America and Europe region would evolve as a leader in Industry 4.0 market. The study indicates large investments by countries towards digitization and innovation, would be responsible for the rapid growth in Industry 4.0 market by the forecast period. Countries like Japan, Germany and China are showing significant progress in Industry 4.0 market.
- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- Semiconductor product designers and fabricators
- Automation product manufacturers
- Technology investors
- Hardware & software manufacturers
- MES (Manufacturing Execution System)
- MOM (Manufacturing Operations Management)
- System Integrators
- Government Organizations
- Research/Consultancy firms
The market for global automotive sensors is projected to grow at a CAGR of about 8-9% during the forecast period https://www.marketresearchfuture.com/reports/automotive-sensors-market-959
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