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Industry 4.0, often referred to as the fourth industrial revolution, is a transformative shift in manufacturing and industrial processes driven by digitalization, automation, and the integration of advanced technologies. The global industry 4.0 market size reached US$ 139.8 Billion in 2023 and is expected to reach US$ 547.1 Billion by 2032, at a CAGR of 16% during 2024-2032. Key components of Industry 4.0 include 3D printing technology, augmented reality (AR), virtual reality (VR), collaborative robots, the internet of things (IoT), artificial intelligence (AI), big data analytics, cloud computing, and other advanced technologies.
