Industry 4.0 Market Share, Historical Analysis, Emerging Trends, Global Industry Forecast by Technology, Application and End-User
Global Industry 4.0 Market – The Logical Industrial Evolution From Manufacturing To The Data Stage Coupled With Larger Value Addition Possibilities Is Expected To Result In Handsome Gains.
Pune, India – April 24, 2018 /MarketersMedia/ —
Market Scenario:
‘Industry 4.0’ refers to the fourth industrial revolution comprising of new digital industries which include advanced robotics, artificial intelligence, sensors, cloud computing, the Internet of Things, data capture and analytics, digital fabrication (3D printing), software-as-a-service, mobile devices and others. In general Industry 4.0 refers to self-optimized, self-configured and artificial intelligent machine technologies employing data, computational power, connectivity, analytics and artificial intelligence systems.
Dominant Players:
The major players in the Industry 4.0 market are Maschinenfabrik Reinhausen GmbH (Germany), Bosch Rexroth AG (Germany), Festo AG & Co. KG (Germany), SAS (U.S.), Siemens AG (Germany), TRUMPF GmbH (Germany), General Electric Company (U.S.), Daimler AG (Germany), Wittenstein AG (Germany), Klöckner & Co. SE (Germany), and others.
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Market Dynamics:
Drivers
Progressive evolution of industries from hunter gathering stage to manufacturing culminating in their logical end in digital and data based industries is the prime driver of the market. If material and design were the prominent value addition of the manufacturing stage of industrial evolution (Stage 3), then it is data, and artificial intelligence in the stage 4 of the industrial evolution cycle.
The technological drivers of the market are development of machines, artificial intelligence, analytics, falling cost of devices, growing adoption and integration of machines and others.
Emerging technologies such as cloud computing, automation, explosive increase in computational power, and growing capabilities and capacities of electronics, are the technical drivers of the market. The attractive economics of industry 4 such as the economies of scale and scope which renders scaling at a negligible cost makes it a highly attractive investment. Thus cost of serving an additional customer is nil as compared to the installation cost.
The psychometric drivers such as demand for high paying and skilled jobs over the manual, high market enthusiasm over the potential advantages of the industry 4 technologies, implementation of smart factory concept, high return on investment and momentous market equity possibilities. The government initiatives by different countries considering the strategic nature of the industry and the generation of beneficial exigencies and in-house skills are the regulatory stimulants of the market.
Restraints
Cyber security risks, concerns over the fluidity, and fragility of the industry, concerns over privacy and intellectual property and the risk of privatization of technology due to the proprietary nature of the technologies are the major threat to the Industry 4.0 Market.
Segments:
To generate an intensive and accurate understanding of the complex intricacies of the global Industry 4.0 market the report has been segmented by technology, application, end users and regions.
On the basis of technology, the market has been sub segmented by Cloud computing, IoT platforms, augmented reality, location detection technology, advanced human machine interfaces, big data analytics, smart sensors, 3d printing, mobile devices, and others.
On the basis of applications, the market has been sub segmented by industrial automation, smart factory, industrial internet of things (IIoT),
On the basis of end user, the market has been sub segmented by industrial manufacturing, oil & gas, construction, aerospace & defense, electronics, automotive, transportation, chemical, pharmaceuticals, mining & metals, food & beverages, others.
On the basis of regions, the market has been sub segmented by North America, Europe, Asia Pacific, Middle East and Africa, Rest of the World.
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Regional Analysis:
The developed regions of North America and Europe have an absolute dominance on the industry 4.0 market owing to their first comer advantage and are expected to do so during the forecast period. The U.S. leads the market due to its large innovation ecology, close collaboration between the industry and academics, high investments in technology, presence of global players, trained manpower and others. Europe is led by Germany, France and the U.K.
However the market is expected to shift towards the Asia Pacific region nations of China and India. Japan holds the largest market in the Asia Pacific region. China and India are expected to generate the fastest growth owing to the service sector led growth, support of the government to data centric industries due to their strategic nature and availability of cheaper and trained man power. Moreover the Chinese and Indian companies are demonstrating high flexibility and are embracing the transition to digital technologies reporting the highest rate of digitization.
Middle East and Africa are expected to generate moderate growth owing to poor social and eco0nomic conditions, large digital divide, and are at lower levels of industrial revolution.
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