Pune, India, Aug. 08, 2022 (GLOBE NEWSWIRE) — The global industry 4.0 market size was valued at USD 114.55 billion in 2021. The market is projected to grow from USD 130.90 billion in 2022 to USD 377.30 billion by 2029, exhibiting a CAGR of 16.3% during the forecast period.
This information is published by Fortune Business Insights, in its report, titled, “Industry 4.0 Market, 2022-2029.”
Key Industry Development:
March 2021: NOKIA Corporation collaborated with WEG Industries, a power and automation corporation, which is located in Brazil, to thrust the advancement of the Nokia Digital Automation Cloud (DAC) platform and unveil an industry 4.0 solution.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 16.3% |
| 2029 Value Projection | USD 377.30 Billion |
| Base Year | 2021 |
| Industry 4.0 Market Size in 2021 | USD 114.55 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Application, Vertical and Geography |
| Industry 4.0 Market Growth Drivers | Increased Adoption of Industrial Robots and Surge in Industrial Automation Demand Drive the Market Growth
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| Data Risks Associated with Integration of Advanced Technologies to Restrict Growth |
COVID-19 Increased Product Demand Backed by Incorporation of Advanced Solutions in Business Operations
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