Industry 4.0 is transforming the way businesses make, enhance, and distribute their products. Manufacturers are implementing new technologies, such as the Internet of Things (IoT), cloud computing and analytics, AI, and machine learning, into their production facilities and methods. The Global Industry 4.0 Market size is expected to grow from USD 104.83 billion in 2022 to USD 456.79 billion by 2030, at a CAGR of 20.2% during the forecast period (2023-2030). Major players in the market include General Electric, IBM, Siemens, AB, Emerson Electric, Honeywell International, Advantech, Basler, Cisco Systems, 3D Systems, Techman Robot, AIBrain, Addverb Technologies, Cognex Corporation, Intel, John Bean Technologies Corporation, Nvidia, Stratasys, Daifuku, Universal Robots, Algolux and others. The use of AI and IoT technologies in industrial manufacturing has accelerated the growth of the market.
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