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The growing use of the internet of things (IoT) and artificial intelligence (AI) in the industrial sector is anticipated to bode well for the global industry 4.0 market in the years to come. In addition, increased spending by government on 3D printing and additive manufacturing, as well as expanding demand for industrial robots in the medical device production and pharmaceutical sectors, are projected to drive demand. The manufacturing industry is increasingly adopting blockchain technology, which is also expected to drive growth of the market in the near future.

The adoption of IoT and AI technologies in the manufacturing has accelerated since the advent of Industry 4.0. Integrated AI and IoT system enables the optimization of industrial processes, quality control, the prediction of equipment failure in machines, and the sending of early alarms. Manufacturers may differentiate themselves from their competitors by acquiring accurate data and developing new AI applications. In addition to that, the burgeoning use of IoT and AI in medical wearables is projected to propel the industry 4.0 market forward.

Read More at Tech Bullion

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