Artificial Intelligence
Global Mattress Market is anticipated to have USD 61.73 Billion market size, registering CAGR around 7% for 2022-2027: Bonafide Research
Clifton, New Jersey, May 26, 2023 (GLOBE NEWSWIRE) — The mattress industry is an integral part of the global sleep economy, catering to the essential need for comfortable and restful sleep. As people become increasingly aware of the importance of quality sleep for overall well-being, the mattress industry has witnessed significant growth and transformation. One of the prevailing trends in the mattress industry is the increasing demand for personalized comfort. Consumers are seeking mattresses that cater to their specific needs, body types, and sleep preferences. This has led to the development of technologies like adjustable firmness settings, customizable zones for pressure relief, and personalized sleep-tracking features. As wellness becomes a top priority for consumers, the mattress industry has shifted its focus to health-promoting features. Companies are incorporating antimicrobial and hypoallergenic properties into their mattresses to provide a cleaner sleep environment. Furthermore, there is a growing emphasis on ergonomic design, alignment support, and pressure point relief to alleviate common sleep-related issues like back pain and joint discomfort. In addition to that, demographic and lifestyle changes influence the mattress industry. Factors such as population growth, urbanization, and changing consumer behaviors impact market demand. For example, as more people live in urban areas with smaller living spaces, there is a demand for compact and versatile mattress options like foldable or roll-up mattresses.
The global population is aging, leading to an increased demand for mattresses tailored to the specific needs of older adults. Elderly individuals often require mattresses that offer enhanced support, pressure relief, and ease of movement. Developing mattresses with features such as better spinal alignment, reduced pressure points, and motion isolation can cater to this demographic and tap into a growing market segment. Emerging markets in regions such as Asia Pacific, South America, the Middle East, and Africa offer significant growth opportunities for the global mattress market. Rapid urbanization, improving living standards, and increasing disposable incomes in these regions drive the demand for mattresses. The rise of e-commerce and online sales channels has transformed the way mattresses are sold globally. Online mattress companies have gained popularity due to their convenience, competitive pricing, and direct-to-consumer sales models. With increasing environmental concerns, the adoption of mattress recycling and the promotion of a circular economy is growing across the globe. Major manufacturers are exploring partnerships with recycling facilities to ensure the proper disposal and recycling of used mattresses. Additionally, developing mattresses with recyclable or biodegradable materials and incorporating take-back programs are supporting sustainable practices and attacking environmentally conscious consumers.
Key Takeaways:
- Asia-Pacific region is expected to occupy 42.54% market share by 2027 as the region is home to the largest population in the world.
- The innerspring mattresses are most common across the world, holding up to a share of more than 65% in the market.
- Commercial application is anticipated to reach over USD 160 Million by 2027 owing to the emerging hospitality industry.
- Full or Double mattresses are often more affordable compared to larger sizes like Queen or King Mattresses, growing with 7.06% CAGR by 2022-27.
- The offline sales channel is expected to dominate the global market by 2027 with USD 51.72 Billon size.
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Increasing environmental concerns and regulations pose challenges for mattress manufacturers. Compliance with environmental standards, waste management practices, and the use of sustainable materials require investments in research, development, and operational changes. Balancing sustainability efforts with cost considerations is a challenge, especially for smaller manufacturers. Mature markets, such as North America and Europe, are relatively saturated with a high number of mattress manufacturers and established brands. The intense competition in these markets makes it challenging for new entrants to gain market share and poses difficulties for existing players to expand their customer base. Market saturation can limit growth opportunities and put pressure on pricing and profitability. Even though the market seems to be opportunistic, the challenges of less spacious houses and a high dominance of the unorganized market in developing countries hamper the growth. For instance, Serta Inc. launched the iComfort hybrid mattress with TempActiv cooling technology and a new coil support system, which infuses copper into materials such as natural latex. This provides immediate body contact or closeness to the element itself as copper relieves pain, reduces arthritis-related inflammation, helps to cure several other medical problems, and increases the overall energy level.
Innovations in mattress materials and construction techniques have revolutionized the industry. Memory foam, latex, and hybrid mattresses have gained popularity. Manufacturers are exploring sustainable and eco-friendly materials, such as organic cotton, natural latex, and plant-based foams, to meet the growing demand for environmentally conscious products. For instance, the Winkbed EcoCloud mattress is a natural latex hybrid that contains 100% natural Talalay latex, pocketed coils, and an organic cotton cover. Additionally, advancements in coil technology have improved the responsiveness and durability of innerspring mattresses. With the rise of the Internet of Things (IoT), the mattress industry has embraced technology integration. Smart mattresses equipped with sensors and connectivity features have emerged, allowing users to track their sleep patterns, adjust mattress settings remotely, and integrate with other smart home devices. Sleep tracking technology provides valuable insights into sleep quality and aids in optimizing sleep habits, contributing to overall well-being.
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Also, hybrid mattresses, which combine different materials such as memory foam, latex, and innerspring coils, have gained popularity. These mattresses aim to provide the benefits of multiple materials, such as pressure relief, motion isolation, and support. Hybrid mattresses offer a balance between comfort and responsiveness, catering to a wide range of sleep preferences. On the other hand, edge support refers to the reinforcement around the perimeter of the mattress to prevent sagging and provide stable support. Mattress manufacturers focused on improving edge support to enhance the usable sleep surface and prevent a “roll-off” feeling. Many consumers are concerned about sleeping hot and seek mattresses with enhanced cooling features. Mattress manufacturers are incorporating cooling technologies such as gel-infused foams, phase change materials, and breathable covers to dissipate heat and promote a cooler sleep environment. Temperature regulation is a crucial factor for those who tend to sleep hot or live in warm climates. Manufacturers are investing in research and development to introduce innovative features that enhance comfort, support, and sleep quality.
Integration of smart technologies, such as sleep tracking sensors, adjustable firmness settings, and connectivity with other smart home devices, has gained momentum. These features offer personalized sleep experiences, sleep data insights, and convenience, attracting tech-savvy consumers. Expanding the capabilities of smart mattresses and incorporating artificial intelligence (AI) to provide personalized sleep recommendations and optimize sleep quality present significant opportunities for innovation and product differentiation. As the smart home concept gains traction, there is an opportunity for mattresses to seamlessly integrate into the connected home ecosystem. Mattresses that communicate with other smart devices like lighting systems, thermostats, or personal assistant devices can create a unified sleep environment. For example, a mattress that adjusts its temperature or lighting based on the user’s sleep patterns or syncs with a smart alarm clock can enhance the overall sleep experience.
Memory foam mattresses are known for their exceptional pressure-relieving properties. The material conforms to the body’s shape, evenly distributing weight and alleviating pressure points. This can help reduce discomfort and pain, particularly for individuals with joint or back issues. Memory foam mattresses are inherently hypoallergenic. The dense foam material helps resist common allergens such as dust mites, mould, and pet dander. This makes memory foam mattresses an ideal choice for individuals with allergies or asthma. High-quality memory foam mattresses are known for their durability. They can withstand years of use without significant sagging or deterioration. This long lifespan makes them a cost-effective investment compared to mattresses that may require more frequent replacement. However, latex mattresses are often made from natural latex derived from rubber trees. This makes them an attractive choice for environmentally conscious consumers seeking sustainable and eco-friendly bedding options. Natural latex is biodegradable, renewable, and free from harmful chemicals, making latex mattresses a greener choice compared to mattresses made from synthetic materials which is growing at the highest CAGR of 10.93% by 2022-27. Some latex mattresses also offer customizable comfort zones or dual firmness options for couples with different preferences. Blended mix latex mattresses are dominating the latex market with a 40.80% share in 2021.
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Other mattresses such as air mattresses, also known as inflatable mattresses or airbeds, have gained popularity across the globe as they can be easily inflated and deflated, making them portable and convenient for camping trips, sleepovers, or accommodating guests. Their ability to be easily stored and transported makes them a popular choice for outdoor activities and travel. Some air mattresses come with dual-zone or adjustable options, allowing couples with different firmness preferences to customize their individual sides of the bed. This feature eliminates the need for compromise and ensures a comfortable sleep experience for both partners. Air mattresses play a role in emergency and disaster relief efforts. They are often used to provide temporary sleeping arrangements in emergency shelters or for individuals displaced by natural disasters or other crises. On the other hand, water mattresses, also known as waterbeds, have a fascinating history and unique characteristics that make them stand out in the mattress industry. Water mattresses offer a unique sleeping experience due to their buoyancy. The water inside the mattress provides even support to the body, reducing pressure on joints and promoting proper spinal alignment. This can be particularly beneficial for individuals with back pain or arthritis. Traditional water mattresses require a significant amount of water to fill and maintain. However, modern innovations have led to the development of water mattresses that use less water and are more water-efficient, addressing sustainability concerns.
Based on the bed size, king-size mattresses are designed for couples or individuals who prefer extra sleeping space. They offer ample width and length, providing room for unrestricted movement during sleep. King-size mattresses are typically 72 inches wide and 84 inches long. They are available in two variants: standard king and California King, with slight differences in width and length. However, queen-size mattresses are among the popular choices for couples. They offer more width and length compared to full-size mattresses, providing additional space for comfort. Queen-size mattresses are typically 60 inches wide and 71 inches long. Double or full-size mattresses are larger than single mattresses and provide more sleeping space. They are typically 52 inches wide and 59 inches long. Full-size mattresses are suitable for single adults or couples who prefer a cozy sleeping arrangement. In addition to the standard sizes mentioned above, the global mattress market also includes specialty sizes to cater to specific needs. These include variants like twin XL (extra-long), full XL (extra-long), split king (two separate mattresses for adjustable beds), and custom sizes tailored for specific requirements.
The rising consumer preference for customized mattresses is one of the major trends being observed in the North American region’s mattress market. Immersed in a work-from-home revolution, people are working from their beds, watching movies in the sack, spending more time at home, and, consequently, deciding to upgrade their sleep setup. The upshot is that after years of turmoil caused by bankruptcies, store closures, and intense competition, the mattress industry is suddenly flourishing during a pandemic that has reoriented people’s budgets. Also, the increasing construction activities in the North America region were the prime driver for its mattress industry. For instance, metropolitan Atlanta, US has been witnessing rapid urbanization, with the addition of more than 69000 residents every year. This trend is projected to drive the market during the forecast period.
On the other hand, migration is a major reason for the rising population in urban areas, which is driving the real estate industry. In Europe, urbanization is an ongoing phenomenon, both in terms of urban land expansion and increasing population share. The rising purchasing power of people in the continent that allows them to buy premium-quality mattresses but also replace them more frequently than before is boosting the market growth. Countries like Germany, the United Kingdom, and France are among the largest mattress markets in Europe. The demand for high-quality, ergonomic mattresses is strong in Europe, with an emphasis on health and wellness. Sustainability and eco-friendly materials are gaining importance in the European market, with a focus on certifications and responsible sourcing.
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The history of mattresses in Asia was commonly crafted around the culture and society of countries. The resources available also influenced it as they dictated the material of these mattresses. Due to trading and globalization, more comfortable mattresses became available and people were no longer limited in their mattress choices. The growth of the mattress market in Asia-Pacific can be attributed to the increasing demand for home furnishings due to rapid urbanization and a growing middle class. Moreover, increasing per capita disposable incomes have led to rising sales of luxury mattresses. Asia-Pacific is considered to be the largest user of mattresses owing to the large population of India, China, and Indonesia. The mattress market is driven by an increase in the number of households, a shift in consumer preferences, an increase in innovative technologies, an increase in demand for hybrid and gel-filled mattresses, favorable government policies, an increase in disposable income, and a shift in lifestyle. The Asia Pacific is among the fast-growing and most promising areas for online mattress sales. Consumers are more comfortable making big purchases over the internet, which is constantly changing the way people think about buying durable consumer products such as mattresses.
The South American mattress market has been experiencing steady growth in recent years. Factors such as improving economic conditions, rising disposable incomes, and increasing consumer awareness about the importance of quality sleep contribute to the market’s expansion. The trend toward the demand for smart Mattresses further owes to the growth of the mattress market. South America is a diverse region with various cultural preferences and sleeping habits. Different countries within South America have unique market dynamics and consumer preferences. Local manufacturers and international brands cater to these diverse needs and preferences. The increasing disposable income of people worldwide has improved their living standards, which creates a demand for comfort and convenience. Thus, there is a demand for luxury furnishing, including mattresses. In South America, the mattress industry is moving from unbranded to branded market slowly. The branded market comprising large, mid-size, and smaller manufacturers constitute a great share in the market, with around 20-25 players spread across the geographies. As a larger market still wishes for a touch and feel shopping for the mattress, the offline retail market dominates the region’s market in 2021.
The efficient increase in the accommodation facilities owing to the effective increase in tourism is one of the foremost increasing trends in the respective countries of Middle East & Africa. As the infrastructure and the property improvement involving hospitals, houses, and hotels being underwritten augmented, the effective need for mattresses has progressively grown. The growing inhabitants and their inclination towards urbanization and modernization were also proved as the aspects that are propelling the growth in the Middle East mattress market. The number of households has increased effectively in the recent past. The rising sale of natural mattresses having hypo-allergic properties is a growing trend in the Middle East & Africa region. Furthermore, users are increasingly becoming aware of the harmful effects of synthetic mattresses used regularly. Manufacturers and distributors sell their natural material-based mattresses for the quality of sleep and comfort they offer.
Considered in the Repor
- Geography: Global
- Historic Year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Table of Contents
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Global Mattress Market Outlook
4.1. Market Size
4.1.1. By Value
4.1.2. By Volume
4.2. Market Share
4.2.1. By Mattress Type
4.2.2. By Mattress Size
4.2.3. By Region
4.2.4. By Country
4.2.5. By Sales Channel
4.2.6. By End User
4.2.7. By Company
4.3. Global Innerspring Mattress Market Outlook
4.4. Global Latex Mattress Market Outlook
4.5. Global Memory Foam Mattress Market Outlook
4.6. Global Other (Water, Air, Hybrid, etc) Mattress Market Outlook
5. North America Mattress Market Outlook
5.1. Market Size
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share
5.2.1. By Mattress Type
5.2.2. By Mattress Size
5.2.3. By Country
5.2.4. By Sales Channel
5.2.5. By End User
5.3. North America Innerspring Mattress Market Outlook
5.4. North America Latex Mattress Market Outlook
5.5. North America Memory Foam Mattress Market Outlook
5.6. North America Other (Water, Air, Hybrid, etc) Mattress Market Outlook
5.7. US Mattress Market Outlook
5.7.1. Market Size by Value
5.7.2. Market Share
5.7.2.1. By Mattress Type
5.7.2.2. By Application
5.7.2.3. By Sales Channel
| Market Segmentation | Details |
| By Product Type |
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| By Application |
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| By Sales Channel |
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| By Bed Size |
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| By Region | |
| By Country | |
| Company profiles |
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| Other Market Details |
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The Global Artificial Turf Market is expected to grow at a 6.59% CAGR during 2023–2028, increasing from USD 4608.26 Million in 2022. As people become busier and more environmentally conscious, they are turning to artificial lawns as a practical and sustainable option for their outdoor spaces. Furthermore, the increasing availability of high-quality and realistic synthetic grass products. Advances in technology and manufacturing processes have made it possible to create synthetic grass that looks and feels like natural grass. Europe is the major market for artificial lawns, with a 35% share, with countries such as the UK, Germany, and France leading the way in terms of market share. The region’s strict environmental regulations have led to a growing demand for eco-friendly landscaping solutions, including artificial lawns. In North America, natural grass has traditionally been seen as a symbol of the American dream, but lately, it has been replaced by nylon grass with a 49.25% share. Many countries in the Asia-Pacific region have a hot and dry climate, which makes it difficult to maintain natural grass. As a result, artificial lawns are becoming increasingly popular as a water-saving and low-maintenance alternative to natural grass and are expected to witness the fastest growth rate of 8.15%. The Middle East and African artificial turf market accounts for less than 5% of global sales but is an emerging market. In South America, Brazil is the major market for artificial lawns.
The Global Light Control Switches Market is anticipated to cross-market size of USD 18 Billion, growing at a CAGR of 8.46% during 2023–28. The evolution of technology has led to the development of various devices that make life more convenient and efficient. With growing concerns about energy consumption and sustainability, businesses and homeowners are looking for ways to reduce energy consumption while maintaining comfort levels. Light control switches provide a cost-effective solution to reduce energy consumption, as they can be used to automatically turn off lights when they are not needed. For example, in the United States, the Department of Energy (DOE) has established minimum energy efficiency standards for light control switches sold in the country. The Asia-Pacific region is home to some of the fastest-growing cities in the world, with a rapidly growing population, whereas there is an increasing adoption of Internet of Things (IoT) technology in lighting control systems in Europe and North America. In the Middle East & Africa, and South America regions; there is an increasing adoption of smart lighting systems in commercial and public spaces.
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Artificial Intelligence
Data Center Chip Market Size was Valued at USD 11.7 Billion in 2022 and is Expected to Reach USD 45.3 Billion by 2032 at a CAGR of 14.6% | Valuates Reports
BANGALORE, India, July 26, 2024 /PRNewswire/ — Data Center Chip Market By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Data Center Size (Small and Medium Size, Large Size), By Industry Verticals (BFSI, Manufacturing, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Data Center Chip Market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
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Major Factors Driving the Growth of Data Center Chip Market
Because of the growing need for data processing and storage solutions brought about by the quick development of cloud computing, artificial intelligence, and big data analytics, the data center chip market is expanding significantly. High-performance chips are necessary for data centers to process massive volumes of data quickly and efficiently. As a result, advances in chip technology, including CPUs, GPUs, and specialist AI processors, have been made. The need for more resilient and scalable data center infrastructure is fueled in part by the expansion of digital services and Internet of Things (IoT) devices. The market is expanding due to key areas including Asia-Pacific, with its investments in technology and fast digital transformation, and North America, with its top tech businesses and vast data center networks.
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TRENDS INFLUENCING THE GROWTH OF THE DATA CENTER CHIP MARKET:
In data centers, Graphics Processing Units (GPUs) are essential for speeding up computing operations and data processing. They are perfect for managing workloads related to artificial intelligence (AI), machine learning, and large-scale data analytics because of their parallel processing capabilities. The need for GPUs in data centers is growing as these technologies become increasingly essential to corporate operations. Businesses are purchasing GPUs in order to increase the effectiveness of their data processing, lower latency, and boost overall performance. The need for data center chips is being driven by the increasing reliance on GPUs for sophisticated computing activities, which is considerably contributing to the market’s rise. This need is further increased by the growing use of AI and machine learning in a variety of sectors, which puts GPUs at the forefront of the data center semiconductor industry.
Compared to general-purpose chips, Application Specific Integrated Circuits (ASICs) provide better performance and efficiency since they are designed specifically for a given application. ASICs are extensively utilized in data centers for specific tasks including networking, data compression, and encryption. ASICs are becoming more and more common as a result of the growth of cloud computing, big data analytics, and blockchain technology, which has increased demand for high-performance, energy-efficient processors. Their capacity to provide tailored performance for certain applications aids data centers in better workload management, power conservation, and operating expense reduction. The market is expanding as a result of the increased preference for ASICs in data centers, which is fueling the need for specialized data center chips.
Large data centers are important users of data center chips; they are run by well-known IT firms and cloud service providers. To manage enormous volumes of data and provide a wide range of services, these facilities need a great deal of processing power and sophisticated computing skills. High-performance data center chips are becoming more and more necessary as a result of the growth of massive data centers and the rising demand for online streaming, cloud services, and digital transactions. These chips are necessary to ensure effective data management, processing, and storage, which helps big data centers fulfill the increasing expectations of its clientele. Large data center proliferation is anticipated to considerably boost the data center chip industry as the digital economy continues to grow.
Data centers are becoming more and more important to the Banking, Financial Services, and Insurance (BFSI) industry as a means of safely and effectively managing high transaction volumes, consumer data, and financial records. The need for sophisticated data center processors is being driven by the sector’s requirement for real-time data processing, high-performance computing, and strong security measures. BFSI organizations may improve their operational efficiency, guarantee data integrity, and deliver superior client services by utilizing data centers fitted with robust chips. The BFSI sector’s need for data center chips is being driven by the increasing use of online banking, digital banking, and financial analytics tools, all of which increase the requirement for sophisticated data center infrastructure.
The market for data center chips is significantly influenced by the cloud computing industry’s explosive growth. There is a growing need for scalable, effective, and high-performance data center infrastructure as more companies move their operations to the cloud. In order to handle enormous volumes of data, facilitate virtualization, and guarantee flawless service delivery, cloud service providers need sophisticated data center chips. Sturdy data center chips are becoming more and more necessary as cloud-based solutions become more and more popular. Benefits like cost savings, flexibility, and scalability are driving this trend. In places like North America and Europe, where cloud adoption rates are high and data center chip demand is rising rapidly, this tendency is especially significant.
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DATA CENTER CHIP MARKET SHARE
In 2022, North America gained a sizable portion of the market.
In 2022, the GPU made up the largest portion of the market share.
Throughout the projection period, large data centers are expected to gain a significant portion.
The BFSI market is anticipated to be one of the most profitable markets.
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Key Companies:
Advanced Micro Devices IncTaiwan Semiconductor Manufacturing Company LimitedBroadcomHuawei Technologies Co LtdIntel CorporationNVidia CorporationSamsung Electronics Co LtdQualcomm Technologies IncGlobalFoundriesARM LIMITED (SOFTBANK GROUP CORP.)Purchase Chapters @ https://reports.valuates.com/request/chaptercost/ALLI-Auto-2B326/Data_Center_Chip_Market
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Artificial Intelligence
Industry 4.0 Market to Surpass USD 513.89 Billion by 2031 with Automation Surge | SkyQuest Technology
WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
Industry 4.0 or the fourth industrial revolution emphasizes the use of automation and interconnectivity. Employment of advanced technologies such as artificial intelligence, machine learning, robotics, and connected devices to improve the productivity and efficiency of industries. Rapid digitization and advancements in technology are forecasted to bolster the Industry 4.0 market growth over the coming years. The global Industry 4.0 market is segmented into technology, industry vertical, and region.
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Industry 4.0 Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 154.6 billion
Estimated Value by 2031
$ 513.89 billion
Growth Rate
Poised to grow at a CAGR of 16.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights
Internet of Things (IoT) technology takes centerstage for Industry 4.0 adoption
Key Market Opportunities
Adoption of smart manufacturing and additive manufacturing practices
Key Market Drivers
Rising demand for automation across all industry verticals
Segments covered in Industry 4.0 Market are as follows:
TechnologyRobots (Traditional Industrial Robots {Articulated robots, Cartesian Robots, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Others}, Collaborative Robots), Blockchain in Manufacturing, Industrial Sensors (Level Sensors, Temperature Sensors, Flow Sensors, Position Sensors, Pressure Sensors, Force Sensors, Humidity & Moisture Sensors, Gas Sensors), Industrial 3D Printing, Machine Vision (Camera {Digital Camera, Smart Camera}, Frame Grabbers, Optics, and LED Lighting, Processor and Software), HMI (Offering {Hardware [Basic HMI, Advanced Panel-based HMI, Advanced PC-based HMI, Others], Software [On-premises HMI, Cloud-based HMI], Services}), Configuration ({Embedded HMI, Standalone HMI}, Technology {Motion HMI, Bionic HMI, Tactile HMI, Acoustic HMI}, End-user Industry {Process industries [Oil & Gas, Food & beverages, Pharmaceuticals, Chemicals, Energy & power, Metals & mining, Water & wastewater, Others], Discrete industry [Automotive, Aerospace & defense, Packaging, Medical devices, Semiconductor & electronics, Others]}), AI In Manufacturing (Offering {Hardware [Processor MPU, GPU, FPGA, ASIC, Memory, Network], Software [AI solutions- | On-premises, Cloud |, AI platform- | Machine learning framework, Application program interface |], Services [Deployment & integration, Support & maintenance]}, Technology {Machine learning [Deep learning, Supervised learning, Reinforcement learning, Reinforcement learning, Others], Natural language processing [Context-aware computing, Computer vision]}, Application {Predictive maintenance and machinery inspection, Material movement, Production planning, Field services, Quality control, Cybersecurity, Industrial robots, Reclamation}, Digital Twin {Technology [Internet of Things (IOT), Blockchain, Artificial intelligence & machine learning, Artificial intelligence & machine learning, Big data analytics, 5G], Usage Type [Product digital twin, Process digital twin, System digital twin], Application [Product design & development, Performance monitoring, Predictive maintenance, Inventory management, Business optimization, Others]}, Automated Guided Vehicles (AGV) {Type [Tow vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks, Others], Navigation Technology [Laser guidance, Magnetic guidance, Inductive guidance, Optical tape guidance, Vision guidance, Others]}, Machine Condition Monitoring {Monitoring Technique [Vibration monitoring, Embedded systems, Vibration analyzers and meters, Thermography, Oil analysis, Corrosion monitoring, Ultrasound emission, Motor current analysis], Offering [Hardware – Vibration sensors, Accelerometers, Tachometers, Infrared sensors, Spectrometers, Ultrasound detectors, Spectrum analyzers, Corrosion probes], Software [Data integration, Diagnostic reporting, Order tracking analysis, Parameter calculation], Deployment Type [On-premises deployment, Cloud deployment], Monitoring Process [Online condition monitoring, Portable condition monitoring]})IndustryManufacturing, Automotive, Energy, Medical, Semiconductor & Electronics, Food & Beverage, Oil & Gas, Aerospace, Metals & Mining, Chemicals, and OthersRequest Free Customization of this report:
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Internet of Things (IoT) Technology to Remain Indispensable for Industry 4.0
Internet of Things (IoT) remains the most crucial technology in global Industry 4.0 market growth owing to its role in interconnectivity and automation across different verticals. Advancements in connectivity technologies and rising use of automation in different industry verticals are also estimated to help this sub-segment gain an impressive market share. Surging demand for predictive maintenance will also boost the adoption of IoT technology in the long run.
Advanced robotic technologies are also slated to gain traction in the Industry 4.0 market. Growing acceptance of robots and high investments in advancements of robotic technologies are also slated to create new opportunities for providers of advanced robotics in the Industry 4.0 market. The low margin of error and the immense scope of automation are key benefits of robotics that help this sub-segment flourish.
Artificial intelligence (AI) will be another popular technology in the Industry 4.0 world going forward. Increasing demand for continuous monitoring, real-time analytics, and predictive maintenance are slated to help the demand for artificial intelligence in the future. The rising use of IoT devices will also boost the demand for cloud computing technology in the long run.
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Manufacturing Vertical to Spearhead Industry 4.0 Market Development
The manufacturing vertical is estimated to be at the forefront when it comes to Industry 4.0 adoption. The surge in use of robotics, advanced technologies, and smart manufacturing practices sets the tone for Industry 4.0 in this industry vertical. High emphasis on improving manufacturing efficiency, reducing downtime, and maximizing profits are all contributing to the high market share of this sub-segment.
The automotive industry is another vertical where Industry 4.0 market players could invest to get good returns. The high adoption of advanced robotics and other smart manufacturing technologies to maximize production allows this sub-segment to become a crucial one for Industry 4.0 providers. The aerospace and defense industry vertical also shows a lot of promise for Industry 4.0 companies going forward. Growing demand for advanced manufacturing techniques and technologies to create complex aerospace components is helping Industry 4.0 market growth via this segment.
The oil & gas industry is also estimated to embrace Industry 4.0 trend with open hands as they try to improve their operations and promote better resource utilization. High demand for predictive maintenance to reduce downtime and the growing adoption of digital oilfield solutions are estimated to bolster Industry 4.0 market development in the long run.
To sum it up, the application scope for Industry 4.0 is endless as automation and digitization pick up pace around the world. High investments in development of IoT and AI technologies will create better opportunities for Industry 4.0 companies in the future. The manufacturing industry will remain the top revenue generating sub-segment and more opportunities for aerospace, automotive, and oil & gas verticals will be seen over the coming years.
Related Report:
Digital Twin Market
Cyber Security Market
Artificial Intelligence (AI) Market
Internet Of Things (IoT) Market
Machine Learning Market
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Artificial Intelligence
Generative AI Cybersecurity Market worth $40.1 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2024 /PRNewswire/ — The Generative AI cybersecurity Market is anticipated to experience substantial expansion, ascending from a value of USD 7.1 billion in 2024 to a substantial worth of USD 40.1 billion by the year 2030, according to a new report by MarketsandMarkets™. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 33.4% over the forecast period.
Browse in-depth TOC on “Generative AI cybersecurity Market”
350 – Tables 60 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Million)
Segments Covered
Offering, Generative AI-based Cybersecurity, Cybersecurity for Generative AI, Security Type, End-user, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), SentinelOne (US), AWS (US), NVIDIA (US), Cisco (US), CrowdStrike (US), Fortinet (US), Zscaler (US), Trend Micro (Japan), Palo Alto Networks (US), BlackBerry (Canada), Darktrace (UK), F5 (US), Okta (US), Sangfor (China), SecurityScorecard (US), Sophos (UK), Broadcom (US), Trellix (US), Veracode (US), LexisNexis (US), Abnormal Security (US), Adversa AI (Israel), Aquasec (US), BigID (US), Checkmarx (US), Cohesity (US), Credo AI (US), Cybereason (US), DeepKeep (Israel), Elastic NV (US), Flashpoint (US), Lakera (US), MOSTLY AI (Austria), Recorded Future (US), Secureframe (US), Skyflow (US), SlashNext (US), Snyk (US), Tenable (US), TrojAI (Canada), VirusTotal (Spain), XenonStack (UAE), and Zerofox (US).
This dramatic surge is being fueled by a number of causes. The primary growth driver is the enhancement of existing cybersecurity tools through generative AI algorithms by improving anomaly detection, automating threat hunting and penetration testing, and providing complex simulations for security testing purposes. These techniques enable various cyber-attack scenarios that can be simulated using the Generative Adversarial Networks (GANs), thus enabling the development of better preparedness and response strategies. On the other hand, it requires special cyber security tools to protect generative AI workloads against unique vulnerabilities such as adversarial attacks, model inversions and LLM poisoning. These tools include differential privacy and secure multi-party computation that are integrated into AI systems for training and deployment data protection purposes.
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Generative AI apps security segment will account for largest market share during the forecast period.
The cybersecurity landscape is rapidly changing for generative AI apps, which are already making their way into chatbots, content creation tools like word processors, and personalized recommendation systems. According to McAfee, 55% of these programs have had security breaches. This highlights the dire need for stronger protective measures from unauthorized access. Several generative AI applications that use adversarial techniques to force the desired reaction out of intelligent machines.
Therefore, there is a pressing demand in the number of developers who ensure that such machines are made more robust through techniques like adversarially trained models and resistant architectures. Finally, the usage of secure enclaves plus hardware-based security measures is growing off late, mainly aimed at safeguarding vulnerable AI computations from being tampered with. For instance, OpenAI has very strict security rules meant to protect GPT models thereby ensuring data integrity and user privacy.
By end-user, government & defense sector is poised to account for larger market share in 2024.
Government as well as defense industries are increasingly resorting to generative AI for cyber security purposes due to the urgency of protecting sensitive information and national security. According to a recent CSIS report, AI is being integrated into the cybersecurity framework of 43% of government agencies which resultantly improves their ability to identify and counter threats. As an example, the United States Department of Defense has started using artificial intelligence (AI) based security solutions backed by generative AI that can create fictitious cyber-attacks, thereby providing them with enhanced preparedness against advanced types of threats.
This technology also helps these sectors handle and analyze large volumes of data more effectively, giving valuable insights that will enable them prevent or mitigate cyber threats. This trend demonstrates an increasing reliance on generative AI in fortifying cyber security measures so as to ensure that critical infrastructure and sensitive data remain secure in today’s intricate digital landscape.
By region, North America to hold the largest share by market value in 2024.
In 2024, North America will be the leading region based on market share due to its excellent technology infrastructure, substantial investments in AI-enabled cybersecurity and the presence of key players. Major cyber security research universities and tech companies such as Google, AWS, CrowdStrike, SentinelOne and IBM are present in this area, pushing them on the forefront of potent risk management technologies and generative AI tools for threat detection. For example, IBM’s security platform powered by AI has improved detection rates for threats up by 40%, thus proving the relevance of AI technology to enhancing cybersecurity.
Moreover, legislative instruments such as Cybersecurity Information Sharing Act (CISA) are being put in place to promote advanced cybersecurity technologies. As internet attacks continue getting more complicated, North American enterprises prefer generative artificial intelligence (AI), so as to enhance their safety measures pertaining to personal data and digital infrastructure.
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Top Key Companies in Generative AI cybersecurity Market:
The major players in the generative AI cybersecurity market include Palo Alto Networks (US), AWS (US), CrowdStrike (US), SentinelOne (US), and Google (US), along with SMEs and startups such as MOSTLY AI (Austria), XenonStack (UAE), BigID (US), Abnormal Security (US), and Adversa AI (Israel).
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