Why Invest in North America Industry 4.0 Market Size Reach USD 189.62 Billion by 2032

The growing attraction of 5G in the field of cloud robotics significantly boosted the North America industry 4.0 market size.

PORTLAND, PORTLAND, OR, UNITED STATE, May 24, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Why Invest in North America Industry 4.0 Market Size Reach USD 189.62 Billion by 2032." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The North America industry 4.0 market was valued at USD 38.59 billion in 2022 and is projected to reach USD 189.62 billion by 2032, growing at a CAGR of 17.6% from 2023 to 2032.

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The North America industry 4.0 market is experiencing significant growth and transformation as companies in the manufacturing sector adopt innovative digital technologies to build smart factories and boost operational efficiency. The fourth industrial revolution is characterized by the integration of IoT, cyber-physical systems, AI, robotics, and data analytics. To acquire a competitive edge, major companies in the North American Industry 4.0 market have made investments in R&D, establishing strategic alliances, and launching cutting-edge goods and solutions.

The North America industry 4.0 market is segmented on the basis of technology and end user. On the basis of technology, it is segregated into industry automation, 3D printing, digital twin, artificial intelligence (AI) & machine learning (ML), blockchain, extended reality (XR), industrial internet of things (IIoT), and others. On the basis of end user, it is divided into manufacturing, automotive, oil & gas, energy & utilities, food & beverages, aerospace & defense, and others.

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Key Findings of the Study

● By technology type, the industry automation segment accounted for the highest North America industry 4.0 market share, in terms of revenue in 2022.

● By end user, the aerospace & defense segment is expected to exhibit the fastest growth rate during the forecast period.

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On the basis of end user, the manufacturing segment acquired the highest share in North America industry 4.0 market in 2022. This is owing to the increasing adoption of automation technologies such as robotics, artificial intelligence (AI), and machine learning (ML) among manufacturers. These technologies help streamline operations, increase productivity, and improve efficiency.

Depending on the technology type, the industry automation segment dominated the North America industry 4.0 market share in 2022 and is expected to continue this dominance during the forecast period, owing to essential elements of Industry 4.0 to detect, measure, analyze, and process various transitions in industrial production facilities, such as changes in positions, length, height, exterior, and dislocations.

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The key players operating in the North America industry 4.0 market analysis include Cognex Corporation, Schneider Electric SE, Emerson Electric Co., Rockwell Automation Inc., Cisco Systems Inc., ABB Ltd., Siemens AG, Honeywell International Inc., General Electric Company, International Business Machines Corporation.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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