The global Industry 4.0 market will reach $214B by 2023

NEW YORK, March 7, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05312286



The 4.0 Industry technology revolution is not only about using data during production, or even integrating data from a wide variety of manufacturing systems throughout the supply chain. It is about analyzing and integrating total product and process life cycle, so that product and customer communicate directly with manufacturing systems and personnel to ensure that the product accommodates the needs of individual customers.

The "Industry 4.0 Technologies Market (Industrial Robotics, 3D Printing, AI, Big Data, Cybersecurity, Cloud Computing, H&V System Integration, Industrial IoT, Sensors, Simulation, VR, AR) – 2018-2023" report forecasts that the global Industry 4.0 market* will reach $214B by 2023.

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The report's research team:
Reviewed and analyzed over 600 Industry 4.0 reports, papers, vendors and governmental information sources.
Participated in 16 round table Industry 4.0 focus groups,
Conducted 75 of face-to-face interviews with industry executives,
Conducted a meta research including more than 4000 industry executives of over 2,700 companies in 29 countries across 5 continents.
The report analyzes each dollar spent in the Industry 4.0 market via 4 bottom-up research vectors (see figure 3), thus providing a must-have report for decision-makers in the Industry 4.0 market.

According to a HSRC meta research***, 63% of responders to HSRC, BCG, PwC, The Economist Intelligence Unit, Roland Berger, Rittal and Siemens stated that their business future depends on Industry 4.0 transformation.

Manufacturing executives from all industries have squarely identified and, in many cases, begun addressing the need for industrial transformation. The responders that have implemented Industry 4.0 conversion have already seen improvements and expect more progress in the near future.

Some of the world technology giants (see Figure 2) recognized the huge business opportunities of the Industry 4.0, invested in R&D, commercialization of Industry 4.0 technologies and acquired smaller technology companies especially in the AI sector.

In the next decades, businesses will establish global networks that incorporate their machinery, warehousing systems and production facilities in the shape of Cyber-Physical Systems (CPS).

In the manufacturing environment, the Cyber-Physical Systems comprise smart machines, storage systems and production facilities capable of autonomously exchanging information, triggering actions and controlling each other independently. These changes add to the traditional business pressure on manufacturers, but also offer unprecedented opportunities to optimize production processes.

Industry 4.0 technologies hold immense potential. Smart factories allow individual customer requirements to be met and mean that even one-off items can be manufactured profitably. In Industry 4.0, dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers.

End-to-end transparency is provided over the manufacturing process, facilitating optimized decision-making. Industry 4.0 Technologies will also result in new ways of creating value and novel business models. It will provide start-ups and SMEs with the opportunity to develop and provide downstream services.

The major winners might be those that control "Industry 4.0 Technology Platforms", software layers that syndicate various devices, information and services, on top of which other firms can build their own offerings.

Governments and the private sector of countries with high labor costs (e.g., EU countries and the U.S.A.) invest in Industry 4.0 Technologies to increase their industrial base which has been taken over by low labor cost countries (see figure above).

Low labor costs industries and their governments (e.g., China, India and Cambodia) are reacting to this trend by investing in Industry 4.0 Technologies as well. To maintain their industrial base, governments across the globe, fund Industry 4.0 projects, R&D, and provide subsidies and tax incentives to Industry 4.0 Technologies investors.

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