Industry 4.0 Market Will Reach $214B by 2023

WASHINGTON - Feb. 22, 2019 - PRLog -- According to the new 4-volume report by Industry 4.0 Research; Global Industry 4.0 Market & Technologies 2018-2023, the Industry 4.0 market is projected to .reach $214B by 2023, outweighing the projected 2023 cybersecurity market by 33%. The Industry 4.0 market is dominated by global technology giants including Alphabet-Google, HP, Samsung, IBM, NEC, Microsoft, and more.

The new report is based on extensive research activities including:

• 31 Industry 4.0 round table focus groups with 87 leading industry executives from 17 countries
• 79 face-to-face interviews with industry 4.0 executives
• Meta-research based on.>4000 industry respondents in 27 countries and over 2000 companies
• Review of 477 reports and papers
• 49 Industry 4.0 vendors research
• Cross-check of 188 submarkets via 5 bottom-up research vectors.

With 640 pages, this 4-volume report covers 10 industries, 10 technologies, 4 revenue sources, 5 regional markets and 22 national markets, offering for each of the 188 submarkets 2016-2017 market size and 2018-2023 forecasts and detailed analyses.

Following three. Decades of decline in the manufacturing sector of Western and other economies,. Governments and private companies are adopting technologies of the 4^th.industrial revolution to resuscitate manufacturing and create R&D and management jobs in their home countries. The 4^th.Industrial revolution is set to swiftly alter the competitiveness of nearly all industrial sectors across the world, as well as change long-held dynamics in commerce and global economic balance of power.

In the U.S., despite the country's long-time dependency on imports, since 2010 there have been signs of gradual change, with rises in both domestic and export demand. One of President Donald Trump's principal campaign promises was restoring manufacturing jobs in the United States' struggling Rust Belt communities. It is expected that the Trump administration will follow the Obama government's 2011 Industry 4.0 policy, bringing together the industry and federal government to invest in Industry 4.0 technologies. Such efforts to reinvent the U.S. manufacturing industry by creating smart factories will have a substantial impact on U.S. economic growth.

The industrial sector is also important to the EU economy, which comprises 2 million manufacturing companies and is responsible for over 80% of EU exports. In response to a four-decade deterioration of the industrial sector, the EU set a target that manufacturing should represent 20% of total value added in the EU by 2020. As part of its new Digital Single Market Strategy, the European Commission wants to help all industrial sectors exploit new technologies and manage the transition to a smart, Industry 4.0 industrial system.

On the one hand, these changes may add to the traditional business pressure on manufacturers, but on the other hand, they offer unprecedented opportunities to optimize production and manufacturing processes.

According to the report, the Industry 4.0 revolution will be driven by an ensemble of emerging technologies, such as Industrial Internet of Things (Industrial IoT), Big Data analytics, advanced industrial robots, Artificial Intelligence (AI) and predictive maintenance. 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 that can be managed in real time. These extremely flexible value networks will require new forms of collaboration between companies, both nationally and globally.

Explore more Industry 4.0 Research reports at https://industry40marketresearch.com/industry-4-0-market-will-reach-214b-2023/

About Industry 4.0 Research

Industry 4.0 Market Reports (https://industry40marketresearch.com/market_reports/) (a division of HSRC) provides premium off-the-shelf market reports on present and emerging technologies and industry expertise, enabling global clients to gain time-critical insights into business opportunities. All reports include in-depth information and analysis of emerging markets and technologies, granulated by geography, vertical, technology, product, and revenue sources. Our reports support Industry 4.0 and Quantum Technologies communities worldwide in their strategic decision-making process, providing up-to-date market knowledge, analysis, and insights.