Industry 4.0 Market Forecast to 2027 - Covid-19 Impact and Global Analysis
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Growing emphasis on production efficiency and reducing operation costs in industries is are significant factors influencing market growth. Market Size – USD 71.63 Billion in 2019, Market Growth – at a CAGR of 16.3%, Market Trends –Proliferation of Internet in industrial applications.
The global industry 4.0 market size was USD 71.63 Billion in 2019 and is projected to reach USD 240.55 Billion by 2027, at a CAGR of 16.3% during the forecast period. Smooth functioning of worldwide supply chains is essential for global economic growth, but face certain efficiency problems owing to time zones and distances. Industry 4.0 provides interconnection of businesses from various regions to resolve communication issues between business organizations and improve the customer-supplier relationship.