According to HSRC, the Global Industry 4.0 Market will reach $214B by 2023, outweighing the projected 2023 cybersecurity market by 33%.
WASHINGTON DC, DISTRICT OF COLUMBIA, UNITED STATES, January 16, 2018 /EINPresswire.com/ — The “Industry 4.0 Market and Technologies – 2018-2023 – Focus on Europe” 4-volume report is the most comprehensive (granulated into 58 submarkets) and data driven market research available today concerning the European Industry 4.0 market. According to HSRC, the Global Industry 4.0 Market will reach $214B by 2023, outweighing the projected 2023 cybersecurity market by 33%.
Europe is at the end of the beginning of the industry 4.0 revolution. The proliferation of industrial sensors, the expansion of radio communication and networks, the deployment of intelligent industrial robots and Industrial IoT as well as increased computing power and the development of artificial intelligence and big data analytics, will transform the way products are manufactured in Europe.
In response to a four-decade deterioration of the manufacturing sector, the EU set a target that manufacturing should represent 20% of total value-added in the EU by 2020. As part of its new Digital Single Market Strategy, the European Commission is interested in helping all industrial sectors exploit modern technologies and manage a transition to a smart, Industry 4.0 industrial system. European governments and the private sector invest tens of billions in Industry 4.0 projects each year to increase their industrial base, which has been taken over by low labor cost countries (specifically China) to maintain their industrial base.
European governments and the EC support Industry 4.0 through investments in R&D, infrastructure, tax incentives and Industry 4.0 projects subsidies. Member States are also sponsoring national initiatives such as “Industria 4.0” in Italy and Portugal, “Industrie 4.0” in Germany, “Industrie du futur” in France and “Catapult centers” in the UK. Industry 4.0 may help to reverse the decline in industrialization and increase the total value-added from manufacturing to a targeted 20% of all value-added by 2020.
In a series of face-to-face interviews HSRC conducted, by Q4 2017, with European executives of 76 multi-billion manufacturing primes we learned that:
• 64 of the respondents said they are fully aware of the risks of a “wait and see how industry 4.0 evolves” policy
• 35 did not know the underlying business models of the Industry 4.0 and its long-term implications for their industry
• 14 respondents stated that their enterprises are already in some stage of conversion to Industry 4.0.
• Even those convinced of the value of Industry 4.0 foresaw a series of barriers ahead
According to the report, The European Industry 4.0 market will undergo a major transformation in 2018-2023 through the following drivers:
• The risk of continued “de-industrialization” of Europe
• Global competition in the manufacturing sector is becoming fiercer and fiercer
• Unprecedented opportunities to optimize production processes and customer services
• European governments and their private sector invest in Industry 4.0 to increase their industrial base taken by low labor cost economies
• Government and EU funded Industry 4.0 projects, R&D, subsidies and tax incentives
• Industry 4.0 offers start-ups and SMEs the opportunity to develop and provide downstream services
• Industry 4.0 dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers and customers
• Industry 4.0 provides the link to the consumer, and can forecast consumer demand
Questions answered in this 481-page market report include:
• What was the 58 submarkets size and what were the trends during 2016 & 2017?
• What is the 2018-2023 forecast for each of the 58 submarkets?
• Which industries and technologies provide attractive business opportunities?
• What drives the Industry 4.0 managers to purchase solutions and services?
• What are the technology & services trends?
• What are the market SWOT (Strengths, Weaknesses, Opportunities and Threats)?
Related HSRC reports available on our Website:
• Industry 4.0 Market & Technologies – 2018-2023
• Industry 4.0 Technologies Market (Industrial Robotics, 3D Printing, AI, Big Data, Cybersecurity, Cloud Computing, H&V System Integration, Industrial IoT, Sensors, Simulation, VR, AR) – 2018-2023
• The Industry 4.0 Market by Industry (Aerospace & Defense, Agriculture, Food, Automotive, Chemical, Electronic & Electrical Hardware, Energy, Power, Oil & Gas, Machine Industry, Pharmaceutical & Biotechnology, Semiconductor and Other Industries) – 2018-2023
• Industry 4.0 Market & Technologies. Focus on U.S. – 2018-2023
• Industry 4.0 Market & Technologies. Focus on Asia-Pacific – 2018 -2023
• Quantum Computing Market & Technologies 2017-2024
• Big Data & Data Analytics Market 2017-2022
Explore more HSRC reports at www.hsrc.biz
HSRC is an international market and technology research firm specializing in transformational technologies, homeland security & public safety industries. HSRC provides premium market off-the-shelf and custom reports on present and emerging technologies and industry expertise, enabling global clients to gain time-critical insight into business opportunities. HSRC’s clients include the EU, NATO, U.S. Congress, Army, DOD and DOT among others; as well as government agencies in Japan, Korea, Taiwan, Israel, Canada, UK, Germany, Australia, Sweden, Finland and Singapore. With over 1000 private sector clients (72% repeat customers), including major Fortune 2000 companies, HSRC has earned the reputation as the industry’s Gold Standard for Transformational Technologies, Homeland Security & Public Safety off-the-shelf and customized market reports.
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Source: EIN Presswire