The global industry 4.0 market size is predicted to reach USD 260.71 billion by 2026, exhibiting a CAGR of 16.3% during the forecast period. The rising digitization and emphasis on smart robots and machines can have a positive impact on the industry 4.0 market growth during the forecast period. Moreover, the growing connectivity of machines and systems, along with the exchange of real-time information, can consequently enhance the potential of the industry 4.0 market forecast. The penetration of the internet is likely to create lucrative business opportunities for the market in the forthcoming years. In addition, the introduction of Big Data and innovative methods to handle enormous amounts of data will significantly accelerate the industry 4.0 market trends. For instance, Big Data has impacted the logistics industry by enhancing existing concepts such as fully-automated order fulfillment and delivering products directly to customers.
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According to the report, published by Fortune Business Insights in a report, titled "Industry 4.0 Market Size, Share and Global Trend By Application (Industrial Automation, Smart factory, Industrial IoT), By Vertical (Manufacturing, Energy & Utilities, Automotive, Transportation, Chemical, Pharmaceuticals, Consumer Electronics, Metals, Others) and Geography Forecast till 2026" the market size stood at USD 78.19 billion in 2018.The report is aimed at delivering a comprehensive description of the industry 4.0 market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER's analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing market expansion, growth patterns, restricting factors, and market strategies.
Acquisition of Schneider for L&T's Electrical and Automation Business to Propel Growth
Schneider Electric SE, a French multinational corporation and leader of electrical equipment, announced to acquire Larsen & Toubro's electrical and automation business by early 2020. The agreement will include a transaction of Rs 14,000 crore, include the state investment from Temasek Holdings, an investment company headquartered in Singapore. The agreement between the company will strengthen the process management systems and improve operating challenges, which in turn will boost the industry 4.0 market share. Chaudhry, zone president, and managing director of Schneider Electric India Pvt Ltd. said in a statement, "L&T's electrical automation business has a very strong team, a very strong engineering capability, and R&D capability. This can also contribute to Schneider Electric's growth in new and developing economies, especially in the Middle East, Africa, and East Asia where we can export more. He also added, "More importantly, with this India will be a very strong fourth engineering and manufacturing hub for the group. Today we have three hubs - one in France, one in China and one in the US. With this (deal), we will be setting up the fourth hub in India."
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Transformation in Automation Techniques to Boost Market in Europe
The market in Europe generated a revenue of USD 27.84 million in 2018 and is predicted to remain at the forefront during the forecast period owing to the deployment of connected machines and devices. The transformation in automation techniques will also bolster the healthy growth of the market in Europe. Moreover, the increasing network connectivity and real-time data processing will aid the market in the region. Asia Pacific is likely to grow rapidly in the forthcoming years due to the growing adoption of industrial automation and the implementation of disruptive technologies.
Key Industrial Development:
May 2019 - Magic Software Enterprises Ltd. unveiled FactoryEye for Industry 4.0 specific applications. The innovative system is aimed at providing detailed analysis to the manufacturer and guides them in real-time decision making.
September 2019: Cisco Systems, Inc. partnered with Emerson Electric Co. to introduce a next-generation industrial wireless networking solution. The solution is designed to transform data management leading to improved plant productivity, reliability, and safety.
List Of Key Companies Profiled In Industry 4.0 Market:
-- ABB Ltd.
-- Cisco Systems, Inc.
-- General Electric Company
-- Hewlett Packard Enterprise Company
-- IBM Corporation
-- Intel Corporation
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Major Table of Content for Industry 4.0 Market:
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