PUNE, India, March 4, 2020 /PRNewswire/ -- 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 fulfilment and delivering products directly to customers.
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."
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 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 implementation of disruptive technologies.
Key Industrial Development:
May 2019 - Magic Software Enterprises Ltd. unveiled Factory Eye for Industry 4.0 specific applications. The innovative system is aimed at providing detailed analysis to the manufacturer and guide 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.
Lists of the Major Companies Leading in the Industry 4.0 Market are:
Blockchain Technology Market Size, Share and Industry Analysis by Product Type (Vertical Solutions, Blockchain-as-a-Service), Deployment, Industry Vertical (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom, Media & Ent., Retail & Consumer Goods, Travel and Transportation), and Regional Forecast 2018-2025
Internet of Things (IoT) Market Size, Share and Industry Analysis By Platform (Device Management, Application Management, Network Management), By Software & Services (Software Solution, Services), By End-Use Industry (BFSI, Retail, Governments, Healthcare, Others) And Regional Forecast, 2019 - 2026
Cyber Security Market Size, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027
Big Data in Manufacturing Industry Size, Share & Industry Analysis, By Offering (Solution and Services), By Deployment (On Premise, Cloud-based and Hybrid), By Application (Customer Analytics, Operational Analytics, Quality Assessment, Supply chain management, Production Management, and Others) and Regional Forecast, 2019 – 2026
Cloud Analytics Market Size, Share & Industry Analysis, By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (Small And Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Education, and Others) and Regional Forecast, 2019-2026
Predictive Maintenance Market Size, Share & Industry Analysis, By Component (Solution, Services), By Techniques (Power System Assessments, Infrared thermography, Fluid Analysis, Circuit Monitor Analysis), By Deployment (On-Premises and Cloud), By Organization Size (Small and Middle Enterprises (SMEs) and Large Enterprises), By End-User (Manufacturing, Government, Energy and Utilities, Transportation, Healthcare) and Regional Forecast, 2019-2026
Artificial Intelligence (AI) in Retail Market Size, Share & Industry Analysis, By Offering (Solutions, Services), By Function (Operations-Focused, Customer-Facing), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), and Regional Forecast, 2019-2026
Artificial Intelligence (AI) Market Size, Share and Industry Analysis By Component (Hardware, Software, Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecast, 2019-2026
Vertical Farming Market Size, Share & Industry Analysis, By Type (Hydroponics, Aeroponics, and Aquaponics), By Structure (Building-Based, Shipping-Container), By Component (Lighting System, Irrigation and Fertigation System, Climate Control, Sensors, and Others) and Regional Forecast, 2019-2026
3D Printing Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Technology (Fused Deposition Modeling, Selective Laser Sintering, Stereolithography, Direct Metal Laser Sintering, PolyJet, Multi Jet Fusion (MJF), Others) By Applications (Prototyping, Production, Proof of Concept, and Others), By End-Use (Automotive, Aerospace and Defense, Healthcare, Others) and Regional Forecast, 2019-2026
Blockchain in Energy Utilities Market Size, Share & Industry Analysis, By Offerings (Vertical Solutions, Blockchain-as-a-Service), By Deployment (Proof of Concept, Pilot, and Production) and Regional Forecast, 2019-2026
Home Automation Market Size, Share and Industry Analysis by Product Type (Luxury, Mainstream, Managed, DIY Do It Yourself Home Automation System), Application (Safety and Security, Lighting, Entertainment, Heating, Ventilation and Air conditioning), Networking Technology (Wired & Wireless) and Regional Forecast 2018-2025
Push-To-Talk Market Size, Share and Industry Analysis by Network (PoC, LMR), Component (Hardware, Software, Services), Application (Public Safety & Security, Transportation & Logistics, Manufacturing & Construction, Travel & Hospitality Defense), And Regional Forecast 2018-2025
Contact Center Software Market Size, Share and Industry Analysis By Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), By Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Regional Forecast, 2019-2026
Identity And Access Management Market Size, Share and Industry Analysis By Component (Provisioning, Directory Services, Single Sign-On, Others), By Deployment Model (Cloud, On-Premises), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, IT and Telecom, Retail and Consumer Packed Goods, Others) And Regional Forecast 2019-2026
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