Industry 4.0 Market touched USD 60.5 billion in 2021 and is projected to reach USD 261.8 billion

Gmi Research23 Mar, 2023Business

Industry 4.0 Market size was estimate at USD 60.5 billion in 2021 and is expected to reach USD 261.8 billion in 2029, growing at a CAGR of 20.1% over the forecast period 2022-2029 attributed to advancements in digital technologies and industrial computerization. Major factors driving industry 4.0 market are growing adoption of advanced technologies like Artificial Intelligence (AI) and Internet of Things (IoT), investments in additive manufacturing and increasing internet penetration rates.