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Industrial Control & Factory Automation Market worth $197 8 billion by 2026 - Exclusive Report by MarketsandMarkets™
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Industrial Control and Factory Automation Market to Reach US$ 231 Bn, Globally, by 2027 at 9 1 % CAGR
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Industry 4.0 Market revenue to hit $165.5 billion by 2026
iCrowd Newswire
According to the new market research report Industry 4.0 Market by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGVs, Machine Condition Monitoring) and Geography - Global Forecast to 2026 , published by MarketsandMarkets™, the Industry 4.0 market is projected to grow from USD 64.9 billion in 2021 to USD 165.5 billion by 2026; it is expected to grow at a CAGR of 20.6%from 2021 to 2026.
Increasing adoption of the industrial internet worldwide in manufacturing units and growing focus on enhanced efficiency of machinery and systems and reduced production costs play a significant role in the growth of the market worldwide. Also, the growing demand for industrial robotics is expected to fuel the growth of the Industry 4.0 market
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According to the new market research report
“Industrial IoT Market by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Forecast to 2026”, published by MarketsandMarkets™, the global IIoT market size is expected to grow from USD 76.7 billion in 2021 to USD 106.1 billion by 2026, at a CAGR of 6.7% during the forecast period.
The growth of the IIoT market is driven by factors such as technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments of different countries for R&D activities related to IIoT.
Industrial IoT Market worth $106 1 billion by 2026 - Exclusive Report by MarketsandMarkets™
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