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Industry 4.0 revolves around integrating information technology (IT) and operational technology (OT) with near-real-time connectivity to provide actionable intelligence to decision makers.

This research focuses on the adoption of digital technologies and smart devices in the industrial equipment industry. Industrial tools are the leading industry in commercial manufacturing. Such tools can produce metal machine parts for various industries, such as automotive, astronautics, national defense, machinery, modeling, electronics, and power generation. Just-evolved high technologies, such as semiconductors and panels, also require machine tools.

This research service provides an overview of digital technologies and smart devices in the industrial equipment industry and highlights major industry trends, technological advancements, new business models, and economic factors that drive the industry growth, not to mention the setbacks. The study dives deep into the key drivers and restraints that influence short-, medium-, and long-term growth, and major growth opportunities. The study also identifies and assesses key market participants in the ecosystem, case studies that use key solutions available in the market, their performance, and offers a glimpse into their strengths, weaknesses, opportunities, and threats.