Frontier technologies market is anticipated to grow at a CAGR of 18.5% during the forecast period (2023-2030). As a group, these 11 technologies already represent a more than $1.2 trillion market in 2022. Frontier technologies are a group of advanced technologies that leverage digitalization and connectivity which enable innovation, automation, and sustainable solutions. These technologies can be used to boost productivity and improve livelihoods. The market is driven by the surge in the integration of artificial intelligence (AI) and the realization of the Internet of Things in various industries, including BFSI, retail, automotive, manufacturing, consumer electronics, and others. Convergence of these technologies can transform production and business processes. For instance, AI in robotics has automated several industries using industrial-grade robots combined with artificial intelligence. AI has revolutionized these industries by shifting complex, resource-intensive, and laborious tasks to machines that can operate for long hours and with high precision.
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Further, accelerating toward Industry 4.0 is also benefiting the growth of these technologies globally. Many national and local governments are working to stimulate the growth of new industries and services. In manufacturing, industry 4.0 can increase productivity, energy efficiency, and sustainability. Low-income economies are facing several challenges such as demographic changes, lower technological and innovation capabilities, slow diversification, and weak financing mechanisms which have limited the adoption of these frontier technologies. Developing countries would not be able to broadly deploy Industry 4.0 with weak manufacturing. They need to diversify their production towards more technologically advanced sectors. To foster the adoption of Industry 4.0 in low economies, governments should raise awareness of the private sector, promote investments, and facilitate financing for the deployment of Industry 4.0.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Frontier Technologies Market Report Segment
By Product
- Artificial Intelligence (AI)
- Big Data
- Internet of Things (IoT)
- Blockchain
- Drone
- Robotics
- Solar PV
- 3D Printing
- 5G
- Gene Editing
- Nanotechnology
Global Frontier Technologies Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global frontier technologies market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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