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The Industry 4.0 market is estimated to reach $618.4 billion by 2031, growing at a CAGR of 18.8% from 2022 to 2031. Advanced technologies such as IoT, AI & automation are being adopted to enhance industrial processes and productivity. Factors such as rise in adoption of industrial robots and increase in deployment of additive manufacturing are driving the growth of the industry 4.0 market. Expensive deployment costs of industrial robots and complications in integration and interoperability of Industrial robot are hampering the market growth.
