Industry 4.0 Market size is forecasted to reach $6,230.29 million by 2027,
growing at a CAGR of 10.91% during the forecast period from 2022-2027. The
growing requirement for predictive analytics, maintenance or repair services of
the industrial or automation control equipment, and growing industrial safety
concerns to improving the efficiency level of operational activities, fuel the
growth of this market. Furthermore, rapid digitalization, increasing
penetration of automation across industries along with high adoption of
artificial intelligence, machine-to-machine communication, big data analytics,
cloud computing, cyber security and internet of things (IoT) across various industry
verticals such as oil and gas, transportation, energy, mining, power and others.
Hence the above-mentioned factors are boosting the growth of this market.
Big Data and Analytics segment held the major market share in 2021 and will witness significant growth during the forecast period 2022-2027. The growth of this market is mainly driven by the paradigm shift of Brazil toward Industry 4.0. This shift in turn boosts the adoption rate of Big Data services across various industries. According to Software.org, 21 to 24 percent of Brazilian small and medium-sized businesses believe digitization will aid in the development of more personalized products and services. Furthermore, the usage of Big data is increasing to enhance the efficient use of inputs across various sectors such as oil & gas, agriculture, power, mining and others; to boost performance. According to a report, the use of these technologies has reduced the use of fertilizers by up to 10% and the use of chemicals for plant protection by up to 3%. Other advantages of using this technology include gasoline savings, efficiency gains in the management of processes, better tracking of machines and the collection of vast amounts of data. Hence, the above-mentioned factors will drive the growth of this market during 2022-2027.
The market size of Brazil Industry 4.0 market for Power was around $250.50 Million in 2021 and is analyzed to reach $535.4 Million by 2027, with a CAGR of 13.46% during 2022-2027. Rapid growth in demand for power due to exponential growth in industrialization and population growth triggers the adoption rate of industry 4.0 across Brazil. According to the International Trade Administration, Brazil generates as well as distributes electricity to over 85 million residential, commercial, as well as industrial sectors. The country holds the largest electricity market across Latin America with 173.2 GW. Such factors will drive the growth of this industry during the forecast period 2022-2027. Furthermore, high investment in renewable energy projects for power generation plays a major role in the growth of this market. A report by National Electric System Operator (ONS) stated that the electric power plan requires a $23.9 billion investment to execute various projects, including wind and photovoltaic generation plants and others in January 2022. Hence, the rise in investment toward advanced power plants and transmission lines in respect to generating sustainable power aids the market growth in the coming years. Such factors will drive the growth of this market during 2022-2027.
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Brazil Industry 4.0 Market Growth Drivers:
Growing demand for precision farming, agricultural drones and others will drive the growth of this market
The agricultural sector in Brazil is under intense pressure to adopt innovative technologies and optimize production. As the demand for food production is growing continuously, Brazil needs to increase the food production rate to help eliminate the issues of food scarcity and hunger. The industry is embracing cutting-edge technologies to collect more data about production with crop sensors or use satellite imagery to collect data for predictive analytics, with an aim to generate greater yields of higher quality. The rising adoption of precision farming, livestock monitoring, climate monitoring, crop management and end-to-end farm management systems are some of the major factors, which are set to positively impact the Brazil Industry 4.0 market in the future years. As per the news published by Agropages in March 2022, Bayer's digital agriculture platform use in Brazil jumped from 12.8 million hectares monitored to 22 million hectares, an increase of 72% between 2020 and 2021. Such factors are propelling the growth of the market. Furthermore, rising investment in drones and agricultural robots is carrying out weed detection and control with high precision, which also creates enormous opportunities for this market to grow during the forecast period 2022-2027.
The Major Players in this Market Include
Major players in Brazil Industry 4.0 market include:
Iastech Automação De Sistemas Ltda
Simatec Tecnologia em Automacao Ltda
Techplus Automacao, Automind Automação
Greylogix BrasilIn August 2021, CI&T, a global digital specialist collaborated with the Brazilian Network of the UN Global Compact. The business collaboration was developed to denote ESG practices of CI&T for educational and workforce development, and also, create the Sustainable Development Goals (SDGs).
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