This report provides exclusive insights into the COVID-19 impact on the Industry 4.0 Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Industry 4.0 Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Industry 4.0 Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on industry 4.0 market provides in-depth analysis of
segments and sub-segments in the global as well as regional industry 4.0
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional industry 4.0 market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global industry 4.0 market. According to the
report, the global industry 4.0 market is projected to grow at a CAGR of 15.3%
over the forecast period of 2019-2025.
Industry 4.0 was first devised by
the German government that represents the implementation of artificial
intelligence, industrial internet of things and big data in the factories. From
smartphones to smart fridges, technology has played a foremost role in
progressing most areas of everyday lives nevertheless it is furthermore
transforming the world of industry. For instance, once computers can exchange
information from each other they automate themselves where AI (Artificial
Intelligence) can understand issues and address them quickly. Hence, there is
no need for humans to perform the assigned task. The use of industry 4.0 helps
in the congregation of the data and further integrates it with the digital
services. This is anticipated to enhance the demand for the industry 4.0 market.
Optimizing production is the key advantage of industry 4.0. Similarly, with the help of industry 4.0, it is possible to host microservices and it enables
execution of transactions with soft real-time.
The automation in the industry
4.0 delivers improved productivity, manufacturing efficiency and enables
faster, more flexible, and more efficient processes. Growing adoption of the
internet in different industrial applications drives the growth of the industry
4.0 market. Moreover, expansion in the use of robot technology and an increase
in government spending on digitalization is strengthening the growth of the
industry 4.0 market. Technological advancement in the electronics industry,
evolution in the cloud computing technologies and implementation of the smart
factory are further contributing to the growth of the industry 4.0 industry.
Self-driving vehicles in the
automotive sector are the primary example of the technological evolution of
industry 4.0 transforming the manufacturing sector. SDVs (self-driven vehicles)
such as “OTTO “offer intuitive light signals, much like vehicles on outdoor
roads, to effectively communicate behaviors such as turning, stopping, or
parking. This industrial revolution is anticipated to use the shared data to
the industry can reach up to new heights in safety driving the manufacturing
sector closer to the ultimate goals.
The scarcity of skilled workforce
is likely to curtail the growth of the industry 4.0 market. Perhaps the most
stimulating characteristic of implementing Industry 4.0 techniques is the IT
security risk. This online incorporation is anticipated to give the opportunity
to security breaches and data leaks. Therefore, research in security is
crucial. Furthermore, investing in big data analytics for cybersecurity is
anticipated to open several doors of opportunity for the key players in the
industry 4.0 market. On the other hand, the revolution will not be for just
factories. Nevertheless, entire sectors from fast-food giant McDonalds to
mega-retailer Walmart will move some of its operations towards automation and
digitization. Industrial units are starting to spend in 3D printers for cheaper
manufacturing, industrial internet of things for connectivity between machines,
and big data to analyze every process and boost efficiency.
Industry 4.0 is a fragmented
market. Among the geographies, Asia Pacific dominated the industry 4.0 market.
The growth in the Asia Pacific region is due to governments of the country such
as India, China and Japan are endorsing industry 4.0 as Make in India, Make in
China and Industrial Value Chain Initiative in Japan. China is the country that
outlook to gain the most from automating and digitizing labor-intensive
manufacturing processes. Moreover, North America and Europe are further
anticipated to grow at a faster rate by the forecast period. The demand for the
internet of things and cloud-based computing is probably to drive the market
growth in the North American region.
The report on global industry 4.0
market covers segments such as technology, and end-user. On the
basis of technology, the sub-markets include Industrial Robotics, Internet
of Things (IoT), 3D Printing, Artificial Intelligence, Augmented and Virtual
reality, and Others. On the basis of an end-user,
the sub-markets include Automotive,
Aerospace, Energy & Power, Industrial Equipment, Electrical & Electronics Equipment, and Others.
The report provides profiles of
the companies in the market such as ABB, DENSO CORPORATION, SAP, Basler AG,
GENERAL ELECTRIC, Intel Corporation, Microsoft, Cognex Corporation, Qualcomm
Technologies, Inc. and IBM.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of industry 4.0 market. Moreover, the study highlights current market
trends and provides forecast from 2019-2025. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.