Industry 4.0 Market

Market Leader - Industry 4.0 Market

The Industry 4.0 market was valued at USD 66.67 Billion in 2016 and is expected to reach USD 152.31 Billion by 2022, at a CAGR of 14.72% between 2017 and 2022. The major factors driving the growth of the Industry 4.0 market include the increasing adoption of the industrial Internet and increased focus on efficiency and cost of production.

The companies operating in the Industry 4.0 market have adopted strategies such as new product launches; mergers & acquisitions; and partnerships, alliances, agreements, collaborations, and expansions between 2014 and 2016 to grow in the market. New product launches accounted for a share of 58.7% of the overall developments carried out in the market between 2014 and 2016, mergers & acquisitions accounted for 13.0%, and partnerships, alliances, agreements, collaborations, and expansions accounted for a share of 28.3%.

General Electric Company (US) is a leader for the Internet of Things (IoT) technology. The company's broad product portfolio and revenue streams reduce the business risks and provide cross-selling opportunities, which in turn enables the company to tap opportunities in new as well as existing markets. GE has successfully adopted the inorganic strategy to further enhance its overall competitiveness in the market. For instance, in November 2016, GE entered into a global partnership with Reliance Industries Ltd. (India) to develop joint applications on GE’s Predix platform. The partnership will provide industrial IOT solutions to customers in oil & gas, fertilizer, power, healthcare, telecom and other industries. GE will provide its Predix cloud Platform and industrial Internet applications. Reliance would develop solutions on the Predix platform.

Mitsubishi Electric Corp (Japan) is a leader in the industrial robotics technology. Mitsubishi Electric Corporation is primarily involved in the development, manufacture, and marketing of electric and electronic equipment used in energy and electric systems, industrial automation, information and communication systems, electronic devices, and home appliances. The company's broad product portfolio enables it to cater to a larger customer base enhancing its revenues and margins. In May 2016, the company introduced the latest in its line of RV-F Series 6-axis robots in 35, 50, and 70 kg payloads.

These new robots extend the Mitsubishi Electric RV-F Series product line to address applications that require higher payloads and longer reaches, including CNC machine tending, large material handling, and assembly applications.

Intel Corporation (US) is a leader in the cyber security technology. Intel Corporation designs and manufactures advanced integrated digital technology platforms. The security products consist of different areas such as data protection and encryption, database security, endpoint protection, network security, security management, server security, security information and event management (SIEM), and web security. Intel Corporation used to deal in the semiconductor chip manufacturing business, but in 2011 Intel acquired McAfee, a security giant, and started offering cyber security products worldwide. The rapid adoption of cloud-based services, big data, and the growing trend of IoT & BYOD encouraged the company to develop and offer advanced solutions for cyber security.

Related Reports:

Industry 4.0 Market by Technology (Industrial Robotics, Cyber Security, Internet of Things, 3D Printing, Advanced Human-Machine Interface, Big Data, Augmented Reality & Virtual Reality, Artificial Intelligence), Vertical, Region - Global Forecast to 2022

Mr. Rohan
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Report Code
SE 5279
Published ON
May, 2017
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