(MENAFN - America News Hour) 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' report forecasts that the global Industry 4.0 market* will reach $214B by 2023. The Industry 4.0 transformation will change long-held dynamics in commerce and global economic balance of power.
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The report research team:
Reviewed and analyzed over 600 Industry 4.0 reports, papers, vendors and governmental information sources
Participated in 16 round table Industry 4.0 focus groups
Conducted 75 face-to-face interviews with industry executives
Conducted a meta research including more than 4000 industry executives from more than 2,700 companies in 29 countries across 5 continents
The report research team analyzed each dollar spent in the Industry 4.0 market via 5 bottom-up research vectors (see figure 3), thus providing a must have mega report for all decision makers in the Industry 4.0 market.
Some of the world technology giants recognizing the huge business opportunities of the Industry 4.0, invested in R & D, commercialization of Industry 4.0 technologies and acquired smaller technology companies especially in the AI and big data sector. The Industry 4.0 market share race is already led by the global tech. giants (see figure 2). They already invested billions of dollars in Industry 4.0 products R & D, M & A and Commercialization.
The Industry 4.0 competition is not only about technology or offering the best products, but also, about the companies that gather the best data and combine them to offer the best digital services. Those who know what the customer wants and can forecast consumer demand, will provide the information to develop an unfair competitive advantage.
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In the next decades, businesses will establish global networks that incorporate their machinery, warehousing systems and production facilities in the shape of Cyber-Physical Systems (CPS). In the manufacturing environment, these cyber-physical systems comprise smart machines, storage systems and production facilities capable of autonomously exchanging information, triggering actions and controlling each other independently. These changes add to the traditional business pressure on manufacturers, but also offer unprecedented opportunities to optimize production processes.
This facilitates fundamental improvements to the industrial processes involved in manufacturing, engineering, material purchasing & usage, supply chain and life cycle management, predictive maintenance and real-time management overview. The smart factories that have already appeared across most industries employ a completely novel approach to production. Smart products are uniquely identifiable, they can be located at all times, know their own history, current status and alternative routes to achieving their target state. The embedded manufacturing systems are vertically networked with business processes within factories and enterprises and horizontally connected to dispersed value networks that can be managed in real time from the moment an order is placed right through to outbound logistics. In addition, they both enable and require end-to-end engineering across the entire value chain.
Industry 4.0 holds immense potential. Smart factories allow individual customer requirements to be met and mean that even one-off items can be manufactured profitably. In 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.End-to-end transparency is provided over the manufacturing process, facilitating optimized decision-making. Industry 4.0 will also result in new ways of creating value and novel business models. It will provide start-ups and SMEs with the opportunity to develop and provide downstream services.
The major winners might be those that control Industry 4.0 platforms , software layers that syndicate various devices, information and services, on top of which other firms can build their own offerings.
The transformation of the economy being brought about by Industry 4.0 means that business processes such as supply, manufacturing, maintenance, delivery and customer service will all be connected via the Industrial IoT systems. These extremely flexible value networks will require new forms of collaboration between companies, both nationally and globally.
Governments and the private sector of countries with high labor costs (e.g., EU countries and the U.S.A.) invest in Industry 4.0 to increase their industrial base which has been taken over by low labor cost countries (see figure below). Low labor costs industries and their governments (e.g., China, India and Cambodia) are reacting to this trend by investing in Industry 4.0 as well. To maintain their industrial base, governments across the globe, fund Industry 4.0 projects, R & D, provide subsidies and tax incentives to Industry 4.0 investors.
In 2018-2023, the market will undergo a major transformation through the following drivers:
Global competition in the manufacturing sector is becoming fiercer and fiercer
The Nokia syndrome challenge, (by 2007 Nokia smartphone market share was 52%. Nokia's management didn't react to the 2007 launch of the iPhone, leading Nokia to a catastrophic fall in their market share to 2% by 2012).
When Industry 4.0 knocks on your door, open it or perish
Unprecedented opportunities to optimize production processes
Governments and the private sector of high labor costs economies invest in Industry 4.0 to increase their industrial base taken by low labor cost countries
Governments of low labor costs economies invest in Industry 4.0 to maintain their industrial base taken by high labor cost countries Industry 4.0 investments
Government-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
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' report is the most comprehensive review of this emerging market available today. It provides a detailed and reasoned roadmap of this rapidly growing market.
The report analyzes each dollar spent in the Industry 4.0 market via 5 bottom-up research vectors (see figure 3), thus providing a must-have mega report for all decision-makers in the Industry 4.0 market.
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The report is aimed at:
Industry 4.0 products vendors
Industry 4.0 systems integrators
Government industry agencies
Manufacturing companies, SME included
The report has been explicitly customized for the industry and government decision-makers to enable them to identify business opportunities, emerging technologies, market trends and risks, as well as to benchmark business plans.
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