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The US and China Invest Heavily in Industry 40 Technologies to be the Worlds Largest Manufacturer

Added: (Fri Jun 21 2019)

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The United States, the world’s second largest manufacturer, with a 2017 industrial output reaching a record level of $2.2 trillion, will apply Industry 4.0 technologies to replace China as the world’s largest manufacturer. The” Industry 4.0 Market & Technologies. Focus on the U.S. ““2018-2023” report forecasts that the U.S. Industry 4.0 2016-2023 market will grow at a CAGR of 12.9%.



Restoring manufacturing jobs to the United States struggling Rust Belt communities and corporate tax cuts were two of President Donald Trump’s biggest campaign promises. It is expected that Trump’s administration will follow Obama’s (2011) Industry 4.0 policy, the formation of the Advanced Manufacturing Partnership (AMP), a national effort bringing together industry and the Federal Government to invest in Industry 4.0 technologies.



Since 2002, large-scale transfers of production to other parts of the world have resulted in a sharp increase in the U.S. dependency on imports. The number of people employed in the industry fell by 33% between 2002 and 2015. However, there have been some signs of a gradual recovery since 2010 with rises in both domestic and export demand.



The Federal Government and the private sector are investing in Industry 4.0 technologies to increase the American industrial base which has been taken over by China and low labor cost countries such as Mexico, Brazil and Asia-Pacific. During Trump administration’s first year, American factories are adding jobs at the fastest pace since 2014. The U.S. media has been quick to seize on terms such as” re-shoring” and” insourcing boom” to describe what it already perceives as a fundamental change.



The global Industry 4.0 market race is led by U.S. tech giants, which have invested billions of dollars in Industry 4.0 core technologies, products R&D, M&A, commercialization & internal use. The transformation of the economy, being brought about by Industry 4.0, means that business processes such as supply, manufacturing, maintenance, delivery and customer service will all be connected via the Industrial IoT systems. These extremely flexible value networks will require new forms of collaboration between companies, both nationally and globally.



Source Link: https://industry40marketresearch.com/u-s-china-invest-heavily-industry-4-0-technologies-worlds-largest-manufacturer/




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