Industry 4.0 Global Market – Overview
The trend itself, turned out to be one of the most highly growing market covering each and every sector in it. Industry 4.0 refers to fourth industrial revolution. The most widely adopted trend in the fourth revolution is the rise in the new digital industry technology like automation. The industry 4.0 mostly covers the manufacturing enterprises trying to adopt the technology of automation for more efficient and smart manufacturing, producing quality products. The industrial revolution started from mechanization, like in oil rigs, water power and steam power, to second industrial revolution, including the assembly line and mass production, to the third industrial revolution, including computer and automation and the fourth industrial revolution to physical cyber systems.
Certain factors like advancement in robotics and artificial intelligence, sensors, cloud computing, data analytics and software as a service are some of the factors that drive the growth of the global Industry 4.0 Market. Another factor actors contributing to the growth of the market are evolution of cloud computing technologies, technological advancements in electronics industry, implementation of smart factory concept & factory automation technologies and government initiatives by different countries across the globe, majorly in Asia Pacific and Europe.
The prominent players in the Industry 4.0 Market are – 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) among others.
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Industry 4.0 Global Market – Segmentation
- Segmentation by Technology: Cloud Computing, IOT platform, Augmented reality, Location detection technology, advanced human machine interfaces, big data analytics, smart sensors, 3D printers, mobile devices..
- Segmentation by Application: Industrial Automation, smart factory, industrial internet of things (IIoT).
- Segmentation by End users: Industrial manufacturing, Oil & gas, Construction, Aerospace & defence, Electronics, Automotive, Transportation, Chemical, Pharmaceuticals, Mining & metals, Food & beverages.
December, 2017, HCL and Siemens collaborate on Industry 4.0 Solutions. HCL Technologies (HCL), a leading global IT services company, has entered into a strategic partnership with Siemens on Industry 4.0 solutions, with a strategic collaboration on the Siemens Industry Software Suite. The global partnership with Siemens on Mind sphere, a cloud–based open Internet of Things (IoT) operating system, comprises technology, application development, connectivity solutions, system integration and go–to–market strategy. This collaboration will be a growth factor for the market to grow in Asian Countries. This partnership will give both HCL and Siemens a better opportunity to enter market with products having advanced technology such as IoT (Internet of things), connectivity solutions, system integration etc.
December, 2017, Industry 4.0’s Impact on Aviation Design and MRO. The aerospace industry is an early adopter of smart manufacturing as the transition to what has become known as Industry 4.0. 62% of aerospace and defence companies had a smart manufacturing initiative as of March 2017, putting aerospace ahead of not only the automotive sector (50%) but also energy and utilities (42%), consumer goods (40%) and life sciences and pharmaceuticals (37%) in adoption of the digital factory. This increased adoption of smart manufacturing and automation, in addition with the Internet of Things (IoT) can potentially provide a real-time data connection to thousands of physical aerospace components so that a huge level of opportunity arises because understanding how the system is working while flying. This provides many key players in the space of aviation across the U.S. and Europe to capture the market of industry 4.0
December, 2017, Industry 4.0 to affect retail banking. The trend towards non-cash payments and digitalization in retail banking and the maturation of FinTech (financial technology) companies in Vietnam present major opportunities as well as challenges for retail banks during the fourth industrial revolution (Industry 4.0). the effect of Industry 4.0 is supposed to hit globally and majorly the countries in Asia Pacific and the Middle East, as these regions possess some of the fastest developing countries adopting the latest industrial technology.
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Industry 4.0 Global Market – Regional Analysis
The geographical analysis of the Industry 4.0 market covers regions like North America, Europe, Asia Pacific and the rest of the world. Among these regions, the Europe is the dominating region with most of the automotive, and aerospace industry present across this regions. And with the impact of industry 4.0 on Aerospace & defence, the companies are going to be affected in a positive way and therefore many enterprises can capture the market in smart manufacturing and industrial automation. Countries like in Japan and Germany are the farthest along in digitizing internal operations and partnering across the horizontal value chain owing to the high investments in technology and employee training. However, Asia Pacific is one of the highest growing regions with China, as one of the countries that stand to gain the most from automating and digitizing, and labour-intensive manufacturing processes. In addition, Chinese companies are highly flexible and are open to digital change, and the Chinese workforce is embracing digital technologies.
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