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Industry 4.0 Market is Expected to Cross USD 305.01 Billion by 2030 as a Result of Growing Need for Manufacturers to Embrace Digital Transformation to Remain Competitive | Research by SNS Insider

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Pune, March 13, 2023 (GLOBE NEWSWIRE) — As per SNS Insider, the Industry 4.0 Market had a worth of USD 78.44 billion in 2022, and it is anticipated to grow at a CAGR of 18.5% from 2023 until 2030, thereby attaining a value of USD 305.01 billion by 2030.

Market Overview:

Industry 4.0 is a revolutionary concept that has transformed the face of modern manufacturing. This movement is characterized by the seamless integration of autonomous robots, smart machinery, and other advanced technologies, all working together to create a more efficient and productive industrial ecosystem. The main objective of Industry 4.0 is to harness the power of smart technology and connectivity to streamline manufacturing processes, enhance productivity, and reduce costs.

Market Analysis:

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Industry 4.0 technologies enable the collection and analysis of real-time data from various manufacturing processes, enabling manufacturers to make informed decisions quickly. This need for real-time data analysis is driving the growth of the industry 4.0 market.  Industry 4.0 technologies enable manufacturers to reduce costs and improve efficiency by automating processes and reducing waste. This increasing focus on cost reduction and efficiency is driving the growth of the market. The demand for automation and digitization is increasing rapidly in industries such as automotive, healthcare, and consumer goods, which is driving market growth.

Get a Sample Report of Industry 4.0 Market@ https://www.snsinsider.com/sample-request/1226

Key Company Profiles Listed in this Report Are:

  • General Electric
  • Honeywell International
  • ABB
  • Emerson Electric
  • 3D Systems
  • Advantech
  • Basler
  • Cisco Systems
  • Cognex Corporation
  • Daifuku
  • IBM
  • Intel
  • John Bean Technologies Corporation
  • Nvidia
  • Stratasys
  • Techman Robot
  • Universal Robot

Impact of Recession on Industry 4.0 Market Growth

A recession can have a significant impact on the industry 4.0 market, as companies may delay or cancel their plans to adopt advanced technologies, and the demand for manufactured goods may decrease. However, the impact may vary depending on the industry and the region, and it is important for businesses and policymakers to consider these factors when planning for the future of the market.

Industry 4.0 Market Report Scope:

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Report Attributes Details
Market Size in 2022 US$ 78.44 Bn
Market Size by 2030 US$ 305.1 Bn
CAGR CAGR of 18.5% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Key Market Segments • By Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV’s, Machine Condition Monitoring)
• By Application (Industrial Automation, Smart Factory, Industrial IoT)
• By Vertical (Manufacturing, Energy and Utilities, Automotive, Oil and Gas, Aerospace & Defense, Electronics and Consumer Goods and Others)
Key Regional Coverage North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Market Growth Drivers • The industrial industry is increasingly embracing robotics engineering and technology in its manufacturing processes as a result of substantial technical developments in robotics.
Key Market Opportunities • AI and IoT technologies have quickly permeated the medical business in the previous five years.
• Medical wearables are increasingly incorporating artificial intelligence (AI) and Internet of Things (IoT) technologies, culminating in a unified healthcare setting

Do you have any specific queries related to this research?

Ask Your Query@ https://www.snsinsider.com/enquiry/1226

Key Regional Development:

The Asia Pacific region is poised to experience the fastest growth in the Industry 4.0 market, thanks to ongoing technological advancements and support from governments. This is due to various factors, including government initiatives, funding for research and development, and a robust industrial base that make APAC a vibrant region for Industry 4.0. Japan and China, in particular, are leading contributors to the growth of the industry in the region.

Key Takeaway from Industry 4.0 Market Study

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  • The industrial internet of things (IIoT) technology type segment is poised to dominate the market, according to industry experts. This is due to the significant advantages that IoT can provide in the industrial sector, such as increased efficiency, cost savings, and improved safety.
  • The machine condition manufacturing sector is currently the most profitable segment in the market. This is because companies operating in this space are primarily focused on implementing advanced automated process control systems that facilitate seamless connectivity between production networks and enable real-time monitoring of assets and manufacturing processes.

Recent Developments Related to Industry 4.0 Market

  • In a bid to accelerate its Industry 4.0 efforts, China has increased its focus on research and development of 6G technology. The move comes as part of China’s broader push to establish itself as a leader in cutting-edge technologies and maintain its position as a global economic powerhouse. China’s focus on 6G technology is part of its broader efforts to promote Industry 4.0, a term used to describe the integration of advanced technologies such as the Internet of Things, artificial intelligence, and robotics into manufacturing processes.
  • L&T Technology Services, a global engineering solutions company, has announced its plans to expand its suite of Industry 4.0 offerings in North America. The move comes as part of the company’s efforts to further strengthen its position in the region and help its customers accelerate their digital transformation journey. These solutions will help customers to gain greater visibility and control over their operations, reduce downtime, and improve the quality of their manufacturing processes.

Buy Single-User PDF of Industry 4.0 Market Report@ https://www.snsinsider.com/checkout/1226

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Complete Report Details@ https://www.snsinsider.com/reports/industry-4-0-market-1226


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Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.

The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development. 
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference. 
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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CGTN: China honors individuals with highest awards in celebration of 75th National Day

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.

The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
 

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Kazakhstan Government Delegation Visited SUPCON

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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.

The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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