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Industry 4.0 Market to Reach Valuation of US$ 1 Trn by 2031 Due to Rise in Demand for Connected Solutions, Digital Technologies during COVID-19 Pandemic, Says TMR- Rapid adoption of smart factory solutions and connected device systems to control varied supply chain operations to present considerable growth opportunities for the Industry 4.0 market - Focus on improving efficiency and lowering production costs to offer immense growth prospects ALBANY, N.Y., Sept. 7, 2021 /PRNewswire/ -- Industry 4.0 Market: Growth Summary The Fourth Industrial Revolution or Industry 4.0 is vital for the manufacturing sector for a multitude of reasons. Representing the next phase of technological revolution in the manufacturing industry, the Industry 4.0 market highlights the growing trend toward data exchange and automation. Thus, the rising adoption of such technologies across the manufacturing sector is projected to offer profitable opportunities for the Industry 4.0 market players during the forecast period of 2021-2031. Need for connectedness and access to real-time data by partners, employees, and processes in the manufacturing sector is a common factor driving the Industry 4.0 market growth. Industry 4.0 assists various businesses to optimize and operate their supply chains and production operations. These aspects present an array of opportunities for the Industry 4.0 market players. Request a sample to get extensive insights into the Industry 4.0 Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30515 Earlier, manufacturing plants took considerable time to adopt new technologies and processes. With the introduction of Industry 4.0-based technologies, this time limit has reduced due to the interconnectivity between various processes. The adoption of Industry 4.0 ensures flexibility and agility, eventually boosting growth opportunities in the market. Transparency Market Research (TMR) has conducted detailed research on various aspects related to the growth of the Industry 4.0 market. TMR analysts expect the global market for Industry 4.0 to expand at a CAGR of 26.7% during the forecast period. The global Industry 4.0 market was valued at US$ 89.4 Bn in 2020 and is expected to reach US$ 1 Trn by 2031. To understand how our report can bring difference to your business strategy, Ask for a brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=30515 With features such as automatic track and trace, issues can be quickly resolved, and fewer problems will be detected regarding product quality and product availability. Precisely, these technologies provide end-to-end solutions, thus managing operational challenges effectively. Such factors are projected to strengthen the growth trajectory of the Industry 4.0 market. Key Findings of Report Big Data to Witness Demand from Automobile Sector Even though the automobile sector is recovering at a slow pace due to the COVID-19 pandemic, R&D activities in the sector have accelerated substantially with the emergence of new technologies. The use of Big Data in the automobile sector has increased extensively, as it helps in capturing real-time data insights from a vehicle to enhance its performance and assure safety of the driver. From optimizing the vehicle production process to offering a brilliant driving experience, Big Data analytics are being utilized to their fullest in the automotive industry. Thus, Big Data is anticipated to witness considerable demand from the automotive sector. Stuck in a neck-to-neck competition with other brands? Request a custom report on Industry 4.0 Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=30515 3D Printing Solutions to Gain Traction The 3D printing is one of the important technologies that come under the category of the Industry 4.0. This technology is no longer viewed only as a prototyping solution. Various firms and researchers are finding new ways to adopt 3D printing in their processes. The 3D printing is fast becoming a viable production method. This factor is beneficial for the exponential growth of the Industry 4.0 market. Buy Premium Research Report on Industry 4.0 market at https://www.transparencymarketresearch.com/checkout.php?rep_id=30515<ype=S Industry 4.0 Market: Major Growth Contributors
Some well-established players in the Industry 4.0 market are General Electric Company, Schneider Electric SE, Mitsubishi Electric Corporation, Cognex Corporation, HMS Networks AB, and Cisco Systems, Inc. Global Industry 4.0 Market: Segmentation Industry 4.0 Market, by Component
Industry 4.0 Market, by Technology
Industry 4.0 Market, by Enterprise Size
Industry 4.0 Market, by Industry
Industry 4.0 Market, by Region
With the penetration of internet, every business across the globe is fast migrating to the digital space. Moreover, the growing adoption of automation, penetration of 4G and 5G network services, and easy availability of connected devices, will revolutionize the technology space. Explore Transparency Market Research's award-winning coverage of the global IT & Telecom Industry:
About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Logo: https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg |