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Industry 4.0 market forecasts to 2022 detailed in new research report

IT Market Research

The overall Industry 4.0 market was valued at USD 66.67 billion in 2016 and is expected to reach USD XXX billion by 2022, at a CAGR of XX% between 2017 and 2022.

Industry 4.0 market is expected to grow at a CAGR of XX% between 2017 and 2022

Increasing adoption of industrial Internet and increased focus on efficiency and cost of production plays a significant role in the growth of the Industry 4.0 market.

However, lack of cost–benefit analysis and a shortage of skilled workforce are key factors limiting the growth of this market.

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Artificial Intelligence technology expected to grow at the highest rate during the forecast period

Artificial Intelligence (AI) constitutes various technologies, which are vital in developing the ecosystem.

As AI enables machines to perform activities as that of human beings, it has opened up enormous opportunities in the Industry 4.0 market.

NVIDIA Inc. (US) and FANUC Corporation (Japan) have entered into a collaboration to implement AI on the FANUC Intelligent Edge Link and Drive (FIELD) system to increase robotics productivity and bring new capabilities to automated factories worldwide. Adding AI to the FIELD system will give robots the ability to teach themselves to do tasks faster and more efficiently.

The Industry 4.0 market has been segmented on the basis of technology, vertical, and region. The market, based on technology, has been segmented into industrial robotics, cyber security, Internet of Things, 3D printing, advanced Human Machine Interface, big data, augmented reality & virtual reality, and artificial intelligence.

On the basis of vertical, the Industry 4.0 market has been segmented into automotive, food & agriculture, chemical & materials, energy & power, oil & gas, aerospace, industrial equipment, electrical & electronics equipment, and healthcare. The market, on the basis of region, has been segmented into North America, Europe, Asia Pacific, and RoW.

This Industry 4.0 market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors.

Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

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