Industry 4.0 Market Sustainability: Eco-Friendly Solutions for Modern Manufacturing Practices
The global Industry 4.0 market size is expected to reach USD 627.59 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 19.9% from 2023 to 2030. The growth of the market is attributed to the widespread adoption of the Internet of Things (IoT) devices and sensors, facilitating seamless data integration, while the infusion of Artificial Intelligence (AI) and Machine Learning (ML) is propelling predictive analytics and autonomous operations. Furthermore, the rising consumer spending on digitalization and cutting-edge factory solutions will increase demand for Industry 4.0 solutions. Industry 4.0 emphasizes the creation of interconnected ecosystems where devices, machines, and systems communicate and collaborate seamlessly. This trend leads to streamlined information flow, enabling real-time decision-making based on accurate and up-to-date data. Edge computing, which processes data closer to its source, and cloud integra...