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