Industry 4.0 Solution Ongoing Trends and Recent Developments by 2027
Industry 4.0 solution is the transformation of traditional manufacturing and industrial practices combined with the latest smart technology. It consists of robotics control, automation tools, big data analytics, and artificial intelligence (AI) for effective operation and production in the manufacturing industries. Advancement in technology, rising digitalization across the globe, and increasing focus on automation is fueling the growth of the industry 4.0 solution market.
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Growing adoption of the industrial IoT, rising focus on enhanced efficiency of machinery and systems, and need to reduced production cost are the major factor driving the growth of the industry 4.0 solution market. However, high initial investment and a dearth of skilled workforce may restrain the growth of the industry 4.0 solution market. Further, upsurge in the use of robot technology, rising demand for industrial automation, and an increase in industry expenditure on digitalization are expected to propel the growth of the industry 4.0 solution market.
The global industry 4.0 solution market is segmented on the basis of component, technology, end-user. On the basis of component the market is segmented as hardware, software, services. On the basis of technology the market is segmented as internet of things (IoT), artificial intelligence (AI), robotics, 3D printing, machine learning, others. On the basis of end-user the market is segmented as aerospace and defense, automotive, manufacturing, energy and power, oil and gas, healthcare, electronics, others.
The Prominent / Emerging Players Industry 4.0 Solution :
·ABB
·Cisco Systems
·FANUC
·General Electric
·HP Development
·IBM
·KUKA
·Mitsubishi Group
·Siemens AG
·Stratasys