Global Market Size of Industry 4.0 Market – 10 Year Market Forecast

ICT

Industry 4.0 Market Size Forecast 2022-2029

Industry 4.0 is estimated to have a market value of USD 167.12 Billion in the year 2022 and is expected to grow to 399.97 Billion by the year 2029, giving a CAGR of 13%. Rapid Adoption of Artificial Intelligence and internet of things in manufacturing sector could act as a driver in this market. However, Lack of skilled workforce conversant with new developments in AI and IoT technologies could hamper this growth.

Frequently Asked Questions(FAQ)

• What is a major driver for the growth of this market?

• Rapid Adoption of Artificial Intelligence and Internet of Things in manufacturing sector is a major driver for the growth of this market.
• What is a restraint in the growth of this market?

• Lack Of skilled workforce conversant with new developments in AI and IoT technologies is a restraint in the growth of this market.
• What is an opportunity for the growth of this market?

• Increasing application of AI and IoT in medical Wearables is an opportunity for the growth of this market.
• What is a challenge for the growth of this market?

• Susceptibility of IoT and AI technologies to cyber attacks is a challenge for the growth of this market.
• What is Global Market Database?

• The Industry 4.0 is studied by Global Market Database to provide relevant market information to industry players.

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