Asia Industry 4.0 Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021Posted by Statzy Market Research on April 24th, 2021 Digitization and industry 4.0 revolution are acting as catalysts for the growth of automation among manufacturing industries, by using smarter and automated solutions, such as robotics and control systems, that enhances the performance metrics of the production processes. - With IoT at the center of new technological approaches for development, production, and the entire logistics chain, it drove the country's adoption of industrial automation. For instance, according to the Chinese government, Industrial IoT (IIoT) is expected to grow, accounting for around USD 65 billion by 2020. These goals have been attributed by enabling companies to draw up medium and long-term strategic plans to embrace the advantages of industry 4.0. - The launch of Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Udyog Bharat 4.0 by the Department of Heavy Industry, Government of India under its scheme on Enhancement of Competitiveness in Indian Capital Goods Sector led the first step. In February 2020, the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) and QLEAP Academy reported that large manufacturing companies in Pune are actively deploying sensors, IoT, data analytics, AI, and other technologies. - However, amid the COVID-19 outbreak and Asian countries experiencing strict lockdowns, the developments concerning Industry 4.0 are expected to be impacted for the next couple of 6-8 months. Factory closures and shifts in investments are primary factors for the same. Multiple vendors of factory automation solutions have shut their facilities in the wake of curbing the spread of the virus. - Industrial IoT (IIoT) is being adopted significantly in the region in the manufacturing industry. As per the CIC estimates, IIoT in China was approximately CNY 115.7 billion in 2014, which accounted for roughly an 18% share of the global IIoT, and is expected to reach CNY 150 billion by 2020. Further, computer and network technologies, such as cloud computing and mobile computing, are also being implemented in these systems, which is expected to boost the adoption of industry 4.0 in the country. - Furthermore, in India, the manufacturing industry has gradually emerged as one of the high-growth sectors. 'Make in India' program places India on the world map as a manufacturing hub and provides global recognition to the Indian economy. Also, India is poised to become the fifth-largest manufacturing country in the world by the end of 2020. Moreover, manufacturing giants, such as GE, Siemens, HTC, Toshiba, and Boeing, have either set up or are in the process of setting up manufacturing plants in India. These trends are expected to boost the adoption of industry 4.0 in their plants in the future. - The trend is also augmented by the recent investment of more than JPY 30 billion by Mitsubishi to increase the output of its factory automation system products to meet growing demand. Further, the company also plans to establish a new plant near its existing facility in Aichi Prefecture and rebuilding an existing plant in Nagoya to bolster production capacity. Similar initiatives are expected to boost the adoption of Industry 4.0 technologies across the region's manufacturing industry. Free Sample report for this report is available :- https://www.statzyreports.com/report/sr496788/asia-industry-4-0-market - Presence of multiple automobile manufacturers, electronic product manufacturing industry, food processing industry makes Japan an important market in this region. Japan, with its highly-developed robotic sector and automation technologies, can be regarded as one of the global leaders in the employment of robotics and automation in the production processes. - According to the latest report by IFR published in 2019, Japan stands second in the world with 55.2 thousand annual installations of industrial robots, after China with 154 thousand annual installations. Also, the country is the largest manufacturer of industrial robots, catering to 52% of the global demand. - Moreover, the automotive and electronics sectors are the most productive manufacturing sectors in the country, heavily reliant on automation. This is likely to drive automation and digital transformation in the manufacturing processes of various goods. For sample report please visit : https://www.statzyreports.com/report/sr496788/asia-industry-4-0-market Like it? Share it! More by this author |