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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Industry 4.0 Market Size
The global industry 4.0 market attained a value of nearly USD 136.37 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 18% to reach nearly USD 604.87 billion by 2032.
The Asia Pacific to Lead the Market for Industry 4.0
Increased robotics adoption in countries like China, Japan, and South Korea is a big force driving the growth of the global market for industry 4.0. The biggest factor for the robotics industry in the Asia Pacific is the low cost of development, which allows different manufacturers to set up manufacturing facilities. Because of ongoing technical advances and government financial support, the demand in the Asia Pacific is projected to expand at the fastest pace. The key factors that make the region a competitive area for Industry 4.0, with Japan and China being the major contributors, are government policies, investment in R&D, and an extensive industrial base.
Industry 4.0 Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global industry 4.0 market attained a value of nearly USD 136.37 billion.
The market is projected to grow at a CAGR of 18% between 2024 and 2032.
The major drivers of the market include the increase in public perception of the benefits of using industry 4.0, increased robotics adoption, low cost of development, ongoing technical advances, financial support by governments, investment in research and development, and an extensive industrial base.
The growing adoption of the Internet of Things and the advancement of the 3D printing industry are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The market is divided based on technology into industrial robotics, IIoT, AI and ML, blockchain, extended reality, digital twin, and 3D printing, among others.
On the basis of end user, the market is categorised into manufacturing, automotive, oil and gas, energy and utilities, electronics, food and beverage, aerospace and defence, among others.
The major players in the industry are ABB Ltd., Rockwell Automation, Inc., Schneider Electric, Cisco Systems Inc., and Intel Corporation, among others.
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