See full analysis Learn more Industry 4.0 SiLC Technologies' Smart Vision is expected to disrupt the global LiDAR market in the next three to five years by providing in-depth, detailed information about objects in many user environments. The Asian industry 4.0 market is expected to register a CAGR of approximately 24% during the forecast period (2020-2025). The global AI market is expected to touch $118.6 billion by 2025, and the innovation in the arena of AI is gaining momentum. The market for the Industry 4.0 is projected to reach a 3.4 billion euros next year. The market for 5G cellular connections in manufacturing is expected to reach US$ 10.8 billion by 2030, at a Compound Annual Growth Rate of 187%. The global industry 4.0 market is anticipated to record a CAGR of around 10.19% during the forecast period, i.e. 2019-2027. Global industry 4.0 market is set to witness a growing healthy CAGR of 15.35% in the forecast period of 2019 to 2026. Global industrial sectors will invest $907 billion per year through to 2020 to embrace Industry 4.0. Manufacturers will spend upwards of $70 billion by 2020 on technology to meet the demands of Industry 4.0. A Mckinsey Report reveals that companies expect Industry 4.0 to increase revenues by 23% and productivity by 26% and many are preparing for changes to their business model. In the German manufacturing sector, industry 4.0 will drive productivity by 5-8% in the next 10 years, creating 390,000 new jobs and increasing investments by US$269bn. Industry 4.0 has a value creation potential for manufacturers and suppliers of $3.7 trillion in 2025, but today only 30% of global companies are capturing value from Industry 4.0 solutions on a large scale. The impact of Industry 4.0 could see productivity gains between US$216 billion to US$627 billion. Making the most of the benefits of Industry 4.0 will demand significant cooperation throughout global business boundaries. Companies who are actively implementing measures to implement Industry 4.0 solutions expected more than 18% higher productivity over the next five years. Industry 4.0 creates new risks and requires companies to integrate security and privacy safeguards into their businesses. Within the next five years, advanced implementation of Industry 4.0 will become a qualifier to compete and is also likely to be seen by investors as a qualifier for funding. Industrial products companies in all regions are pressing hard on the Industry 4.0 accelerator and expect to secure significant benefits. Just 8% of UK manufacturers have a significant understanding of Industry 4.0 processes despite 59% recognising that the fourth industrial revolution will have a big impact on the sector. A third of UK manufacturers are at risk of falling behind global competition because they have not invested in Industry 4.0 technology or processes in the past two years. The Industrial Internet or Industry 4.0 will make a considerable contribution to growth in Europe in the next years. While today only one fifth of the industrial companies have digitized their key processes along the value chain; in five years' time, 85% of companies will have implemented Industry 4.0 solutions in all important business divisions. Data analytics is the driver for Industry 4.0 Over 80% of companies expect data analytics will have a significant influence on their decision-making processes in five years' time. Last updated: 10 January 2021 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No