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Global $254+ Bn Industry 4.0 Market is Expected to Grow at a CAGR of over 19.8% During 2022-2028 | Vantage Market Research

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WASHINGTON, May 02, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Industry 4.0 Market finds that the increasing adoption of artificial intelligence (AI) and internet of things (IoT) in manufacturing sector is expediting market growth. Primarily driven by rising adoption of rechargeable batteries, the total Global Industry 4.0 Market is estimated to reach USD 254.5 Billion by the year 2028.

The Global Market revenue was USD 86.1 Billion in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 19.8%.

Furthermore, the increase in adoption of blockchain technology is also anticipated to augment the growth of the Global Industry 4.0 Market, states Vantage Market Research, in a report, titled “Industry 4.0 Market Size, Share & Trends Analysis Report by Component (Solutions, Services), by Technology (3D Printing, Advanced Robotics, AR/VR Systems, Internet of Things (IoT), by Enterprise Size (Small & Medium Enterprises, Large Enterprises), by Industry (Manufacturing, Energy & Utilities, Automotive, Oil & Gas), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

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Market Dynamics:

Increasing Adoption of Artificial Intelligence (AI) and Internet of Things (IoT) in Manufacturing to Fuel Global Industry 4.0 Market

The increasing adoption of artificial intelligence (AI) and internet of things (IoT) in manufacturing sector is expected to fuel the growth of the Industry 4.0 Market during the forecast period. Manufacturers are incorporating new technology into their manufacturing facilities and operations, such as the Internet of Things (IoT) and AI and machine learning. Smart factories rely greatly on the Internet of Things (IoT). Sensors having an IP address are mounted on the factory floor, allowing machines to communicate with other web-enabled devices. Large volumes of important data can be collected, analysed, and distributed due to this mechanisation and connectivity technology. Furthermore, manufacturing companies may employ AI and machine learning to fully utilise and benefit from the massive amounts of data generated not only on the factory floor, but also across their entire organisation, as well as from partners and third-party sources. Artificial intelligence (AI) and machine learning can provide insights into operations and business processes, allowing for more visibility, predictability, and automation. Industrial machines, for example, are prone to failure during the manufacturing process. Businesses can use data generated from these assets to perform predictive analysis using machine learning algorithms, resulting in increased uptime and efficiency and hence driving Industry 4.0 Market.

Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Industry 4.0 market is predicted to grow at a CAGR of roughly 19.8% during the forecast period.
  • The Industry 4.0 market was estimated to be worth roughly USD 86.1 Billion in 2021 and is expected to reach USD 254.5 Billion by 2028; based on primary research.
  • On the basis of region, Asia Pacific is projected to dominate the worldwide Industry 4.0 market.

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Segmentation of the Global Industry 4.0 Market:

  • Component
    • Solutions
    • Services
  • Technology
    • 3D Printing
    • Advanced Robotics
    • AR/VR Systems
    • Internet of Things (IoT)
    • Artificial Intelligence
    • Others (Cyber Security)
    • Big Data
    • Predictive Maintenance
  • Enterprise Size
    • Small & Medium Enterprises
    • Large Enterprises
  • Industry
    • Manufacturing
    • Energy & Utilities
    • Automotive
    • Oil & Gas
    • Aerospace & Defense
    • Electronics & Consumer Goods
    • Food & Beverage
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/industry-40-market-1502

Rising Demand for Edge Computing to Augment Market Growth

The increasing demand for edge computing is anticipated to augment the growth of the Industry 4.0 Market within the estimated period. Because of the demands of real-time manufacturing, some data analysis must be performed at the “edge” that is, where the data is generated. This cuts down on the time it takes for data to be generated and a response to be required. Detecting a safety or quality issue with equipment, for example, would need a near-real-time response. The time it takes to move data from the manufacturing floor to the enterprise cloud and back might be lengthy, and it is dependent on network stability. Additionally, edge computing keeps data close to its source, reducing security risks. This is further expected to fuel the demand for battery management systems in near future. However, lack of skilled workforce conversant with new developments in AI and IoT technologies along with data security risks associated with integration of these technologies is anticipated to limit the growth of the market in near future. Moreover, rising popularity of 5G along with adoption of blockchain technology in manufacturing is expected to create immense opportunities for the growth of the market in the years to come.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the automation industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The report on Industry 4.0 Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

Asia Pacific to Dominate the Global Industry 4.0 Market

Asia Pacific has dominated the Global Industry 4.0 Market in 2021 and is likely to continue the same trend during the forecast period. China dominated Asia Pacific in 2021. This is attributable to the rising adoption of robotics in the manufacturing sector in economies like China, India and Japan in the region. Furthermore, the increasing implementation of advanced technologies in manufacturing is also anticipated to fuel the growth of the market in the region. Additionally, increasing government initiatives is also expected to support regional growth of the market in the years to come.

List of Prominent Players in the Industry 4.0 Market:

  • ABB Ltd.
  • Alphabet Inc.
  • Ansys Inc.
  • Cisco Systems Inc.
  • Cognex Corporation
  • FANUC Corporation
  • General Electric Company
  • HMS Networks AB
  • Intel Corporation
  • International Business Machines Corporation
  • KUKA AG
  • Microsoft Corporation
  • Mitsubishi Electric Corporation
  • Rockwell Automation Inc.
  • SAP SE
  • Schneider Electric SE
  • Siemens AG
  • Stratasys Ltd.
  • The Hewlett Packard Enterprise Company
  • The Yaskawa Electric Corporation

Browse market data Tables and Figures spread through 174 Pages and in-depth TOC on “Industry 4.0 Market Size, Share & Trends Analysis Report by Component (Solutions, Services), by Technology (3D Printing, Advanced Robotics, AR/VR Systems, Internet of Things (IoT), by Enterprise Size (Small & Medium Enterprises, Large Enterprises), by Industry (Manufacturing, Energy & Utilities, Automotive, Oil & Gas), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/industry-4.0-market-786563

Recent Developments:

April, 2021: Cyient announced the launch of its INTELLICYIENT suite of Industry 4.0 Market solutions that will enable digital transformation for industries that draw significant value from their assets such as manufacturing, industrial, aerospace, automotive and off-highway, utilities, and mining and natural resources.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?
  • Which are the top five players of the Industry 4.0 Market?
  • How will the Industry 4.0 Market change in the upcoming six years?
  • Which application and product will take a lion’s share of the Industry 4.0 Market?
  • What is the Industry 4.0 market drivers and restrictions?
  • What will be the CAGR and size of the Industry 4.0 Market throughout the forecast period?            

This market titled “Industry 4.0 Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered  • Component
     • Solutions
     • Services

 • Technology
     • 3D Printing
     • Advanced Robotics
     • AR/VR Systems
     • Internet of Things (IoT)
     • Artificial Intelligence
     • Others (Cyber Security)
     • Big Data
     • Predictive Maintenance

 • Enterprise Size
     • Small & Medium Enterprises
     • Large Enterprises

 • Industry
     • Manufacturing
     • Energy & Utilities
     • Automotive
     • Oil & Gas
     • Aerospace & Defense
     • Electronics & Consumer Goods
     • Food & Beverage
     • Others

 • Region
     • North America
     • Europe
     • Asia Pacific
     • Latin America
     • Middle East and Africa

Region & Counties Covered  • North America
     • U.S.
     • Canada
     • Mexico

 • Europe
     • U.K
     • France
     • Germany
     • Italy
     • Spain
     • Rest Of Europe

 • Asia Pacific
     • China
     • Japan
     • India
     • South Korea
     • South East Asia
     • Rest Of Asia Pacific

 • Latin America
     • Brazil
     • Argentina
     • Rest Of Latin America

 • Middle East & Africa
     • GCC Countries
     • South Africa
     • Rest Of Middle East & Africa

Companies Covered  • ABB Ltd.

 • Alphabet Inc.

 • Ansys, Inc.

 • Cisco Systems, Inc.

 • Cognex Corporation

 • FANUC Corporation

 • General Electric Company

 • HMS Networks AB

 • Intel Corporation

 • International Business Machines Corporation

 • KUKA AG

 • Microsoft Corporation

 • Mitsubishi Electric Corporation

 • Rockwell Automation, Inc.

 • SAP SE

 • Schneider Electric SE

 • Siemens AG

 • Stratasys Ltd.

 • The Hewlett Packard Enterprise Company

 • The Yaskawa Electric Corporation

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

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LG STRENGTHENS EUROPEAN PRESENCE WITH ITS KITCHEN SOLUTIONS SHOWCASE AT MDW 2024

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Featuring Advanced AI Technologies and Sleek Design, Company’s Expanded Lineup of Built-in Appliances Brings Outstanding Convenience and Style to the Kitchen
SEOUL, South Korea, April 18, 2024 /PRNewswire/ — LG Electronics (LG) is unveiling its latest built-in kitchen appliances at Milan Design Week (MDW) 2024, taking place in Milan, Italy, from April 16-21. At the center of LG’s Milan showcase are the brand-new Signature Kitchen Suite built-in oven, free zone induction hob, and downdraft hood. Boasting innovative, premium design and highly-convenient features, the company’s refined built-in solutions bring exceptional ease-of-use and effortless elegance to the kitchen.

Signature Kitchen Suite Built-in Oven with Advanced Cooking Technologies
Debuting at MDW 2024 and designed with European consumers in mind, the Signature Kitchen Suite 60-centimeter (24-inch) built-in oven offers a variety of cutting-edge features and AI technologies to elevate the culinary experience. Equipped with Gourmet AI™️, the oven can identify what the user is cooking and automatically select the appropriate cooking mode from 130 recipes. Gourmet AI also enables ‘browning’ control for foods such as pizza and steak, actively keeping tabs on the cooking process and notifying users via the ThinQ™️ app as soon as their food is done. Thanks to video-recognition, LG’s intelligent oven can suggest the optimal settings for the dish being prepared, while real-time video monitoring and time-lapse recording make it easy to check on the progress of one’s meal using the ThinQ app.
Employing enhanced ProBake powered by inverter technology, the new oven delivers uniform heat and fast, efficient cooking with an A++ energy rating. LG’s innovative technology rotates the convection fan back and forth to ensure shorter preheating times, even heating, and crispier results when using the oven’s Air Fry mode. The company’s unique InstaView™️ technology further enhances user convenience, making it possible to see inside simply by knocking twice on the oven door.
Free Zone Induction Hob for Convenient and Flexible Cooking
The Signature Kitchen Suite’s 90-centimeter (36-inch) free zone induction hob presents next-level flexibility and ease-of-use, allowing users to place any size and type of cookware – such as Paella pans and moka pots – anywhere on its cooking surface.* The new appliance can detect and track the position of cookware, eliminating the need to manually cancel and reapply settings when moving a saucepan or skillet from one part of the cooking surface to another. What’s more, the AI technology embedded in the hob can detect the temperature of cookware and automatically lower the heat when necessary, helping to minimize spills and splatter when boiling water or preparing soups and sauces.
Expanded Built-in Lineups for Diverse Kitchen Lifestyles
LG is further bolstering its built-in product lineup with the introduction of the new Signature Kitchen Suite downdraft hood. Made to integrate seamlessly into islands and countertops, the 90-centimeter (36-inch) hood offers a sleek, sophisticated look with its chic black glass and modern frame design. It also provides powerful ventilation, effectively extracting steam and odors for a more pleasant cooking experience.
Additionally, LG has expanded its portfolio of built-in appliances for the European market. Along with new products, such as an 80-centimeter (30-inch) induction hob and built-in combi refrigerators and microwave ovens, the company now provides a wider range of options within its oven lineups – from more product variation to a greater choice of colors and sizes. Among the new models are the Signature Kitchen Suite 122 centimeter (48 inch)-wide French-door refrigerator and stunning appliances from the Transitional lineup, featuring slim handles and satin stainless steel exteriors with a velvety matte finish. To help customers create a curated kitchen aesthetic, the company offers an array of new finishes for its premium built-in products, with black stainless steel and stainless steel joining the previously-introduced black glass finish.
“We are thrilled to showcase our latest built-in innovations at this year’s Milan Design Week, demonstrating our commitment to leading new design trends and meeting the diverse needs of European customers,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company. “LG will continue to strengthen its presence in Europe through an expanded range of built-in appliances delivering style, performance and convenience in the kitchen.”
Visitors to MDW 2024 in Milan from April 16-21 can experience LG’s latest built-in lineups at the LG booth at Milan Fairgrounds.
* Cookware recognition may vary depending on the size or number of items placed on the surface.
About LG Electronics Home Appliance & Air Solution Company 
The LG Home Appliance & Air Solution Company is a global leader in home appliances, air solutions as well as smart home solutions featuring LG ThinQ. The company is creating various solutions with its industry leading core technologies and is committed to making life better and sustainable for consumers and the planet by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.
 
 
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DataTracks Celebrates Completion of 19 Years

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SINGAPORE, April 18, 2024 /PRNewswire/ — DataTracks, a provider of cloud-based software to automate/generate compliance reports for filing with financial/security regulators to more than 28,000 business enterprises in 26 countries, celebrates the completion of 19 years of service and innovation.  Founded with a vision to make regulatory compliance “accurate, reliable, timely, and easy”, DataTracks has grown into a leading name in the industry, worldwide with cutting edge software that incorporates “artificial intelligence” aided features to reduce “time to prepare” and improve “accuracy”.

Decades of Dedication and Expertise
Over nearly two decades, DataTracks has achieved significant growth, with its software delivering more than 400,000 reports, showcasing its pivotal role in regulatory reporting. The software and service address regulations across diverse jurisdictions, including SEC in the USA, HMRC and FCA in the UK, Revenue in Ireland, CIPC in South Africa, ACRA in Singapore, MCA in India, SSM in Malaysia and ESMA, EBA, and EIOPA in Europe. 
DataTracks distinguishes itself in the industry
(a) with its global footprint (preferred by business enterprises whose regulatory obligations are spread across multiple jurisdictions)
(b) with its state-of-the art software that incorporates “AI/ML” features and
(c) with its credentials for information security (including ISO 9001:2015 and ISO 27001:2013 certifications)
Addressing the employees and spouses in a town hall meeting to celebrate the event, Vinod P John, President of DataTracks said: “We are happy to start our 20th year in the industry. I have to thank the 28,000 clients who trust us and the several hundred employees who developed our software and who helped customers (and our internal team) prepare compliance reports for reaching this milestone.  We’ve always believed in leveraging technology to make regulatory compliance as easy, quick, timely, and accurate as possible for our clients.  Our continuous investment in AI and machine learning is a testament to this belief, and it’s what keeps us at the forefront of the industry.”
Looking ahead, DataTracks is ready to address upcoming mandates such as the DATA Act and FTA in the US as well as the MBRS/XBRL mandate by SSM in Malaysia.
About DataTracks
DataTracks is a Singapore-based globally renowned leader in providing cloud-based regulatory compliance software for self-use and “black box services” using the same software, catering to 28,000 clients across 26 countries. In 19 years DataTracks has helped its client enterprises prepare more than 400,000 compliance reports for filing with financial/security regulators in several jurisdictions. Financial analysts have rated the quality of reports generated using DataTracks as top of industry for quality; significantly above that of several of its competitors.  For further information, visit www.datatracks.com.
For Business Enquiries: Email: [email protected]; Phone: Singapore: +6531582850, US: +1(646)9048324, UK: +44(0)2036088035
Media Contact: [email protected] 
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SAS advances industry solutions with packaged AI models

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Tailored, lightweight AI models facilitate rapid deployment with low overhead
LAS VEGAS, April 17, 2024 /PRNewswire/ — SAS INNOVATE — Today at SAS Innovate, SAS – a pioneer in data and AI solutions – unveiled a game-changing approach for organizations to tackle business challenges head-on. Introducing lightweight, industry-specific AI models for individual license, SAS is equipping organizations with readily deployable AI technology to productionize real-world use cases with unparalleled efficiency.

AI software provider SAS is uniquely positioned to flex its decades of expertise in applying scalable and trustworthy AI models for prominent global financial, health care, and manufacturing brands, as well as government institutions.
“SAS is evolving its portfolio to meet wider user needs and capture market share with innovative new offerings,” said Chandana Gopal, Research Director, Future of Intelligence, IDC. “An area that is ripe for SAS is productizing models built on SAS’ core assets, talent and IP from its wealth of experience working with customers to solve industry problems.”
In today’s market, the consumption of models is primarily focused on large language models (LLMs) for generative AI. In reality, LLMs are a very small part of the modeling needs of real-world production deployments of AI and decision making for businesses.  With the new offering, SAS is moving beyond LLMs and delivering industry-proven deterministic AI models for industries that span use cases such as fraud detection, supply chain optimization, entity management, document conversation and health care payment integrity and more.
Unlike traditional AI implementations that can be cumbersome and time-consuming, SAS’ industry-specific models are engineered for quick integration, enabling organizations to operationalize trustworthy AI technology and accelerate the realization of tangible benefits and trusted results.
Expanding market footprintOrganizations are facing pressure to compete effectively and are looking to AI to gain an edge. At the same time, staffing data science teams has never been more challenging due to AI skills shortages. Consequently, businesses are demanding agility in using AI to solve problems and require flexible AI solutions to quickly drive business outcomes. SAS’ easy-to-use, yet powerful models tuned for the enterprise enable organizations to benefit from a half-century of SAS’ leadership across industries.
Delivering industry models as packaged offerings is one outcome of SAS’ commitment of $1 billion to AI-powered industry solutions. As outlined in the May 2023 announcement, the investment in AI builds on SAS’ decades long focus on providing packaged solutions to address industry challenges in banking, government, health care and more.
“Models are the perfect complement to our existing solutions and SAS Viya platform offerings and cater to diverse business needs across various audiences, ensuring that innovation reaches every corner of our ecosystem,” said Udo Sglavo, Vice President for AI and Analytics, SAS. “By tailoring our approach to understanding specific industry needs, our frameworks empower businesses to flourish in their distinctive environments.”
Bringing AI to the massesSAS is democratizing AI by offering out-of-the-box, lightweight AI models – making AI accessible regardless of skill set – starting with an AI assistant for warehouse space optimization. Leveraging technology like large language models, these assistants cater to nontechnical users, translating interactions into optimized workflows seamlessly and aiding in faster planning decisions.
“SAS Models provide organizations with flexible, timely and accessible AI that aligns with industry challenges,” said Sglavo. “Whether you’re embarking on your AI journey or seeking to accelerate the expansion of AI across your enterprise, SAS offers unparalleled depth and breadth in addressing your business’s unique needs.”
The first SAS Models are expected to be generally available later this year. Learn more about SAS Applied AI and Modeling here: https://blogs.sas.com/content/tag/applied-ai-modeling/.
Today’s announcement was made at SAS Innovate, the data and AI experience for business leaders, technical users and SAS Partners. Keep up with the latest news from SAS by following @SASsoftwareNews on X/Twitter.
About SASSAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved. 
Editorial Contact:Jennifer [email protected] 202-210-4180 sas.com/news
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