Industry 4.0 Market To Reach $618.39 Billion, Globally, By 2031 At 18.8% Cagr: Allied Market Research

The global Industry 4.0 market is estimated to reach $618.39 billion by 2031, witnessing a CAGR of 18.8% from 2022 to 2031. The rise in adoption of industrial robots and increase in deployment of additive manufacturing primarily drive the growth of the market. However, expensive deployment costs of industrial robots and complications in integration and interoperability of Industrial robot hamper the market growth to some extent. Moreover, an increase in adoption of 5G in the field of cloud automation is expected to provide lucrative opportunities for the market growth during the forecast period.