Industry 4.0 Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Technology, Industry Vertical and Region

Industry 4.0 Market Overview & Dynamics:

Industry 4.0, also known as the 4th Industrial Revolution (4IR), the Industrial Internet of Things (IIoT), or smart manufacturing, is a new phase in the industrial revolution that emphasises automation, real-time data, interconnection, and machine learning (ML). Adopting Industry 4.0 has a number of benefits, including increased productivity, efficiency, flexibility, agility, improved customer experience, and profitable potential for innovation, to name a few. The global report on industry 4.0 market provided with the segment analysis on the basis of technology, industry vertical and region.

 

 

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Industry 4.0 and Smartphone Use:

 

The growing digitalization of the world is a major factor driving the global industry 4.0 market. According to the World Economic Forum, 3 billion people use smartphones globally, with a 10 percent yearly growth rate. Industry 4.0 innovations such as IoT and voice assistants in smartphones give customers a wonderful shopping experience and help them decide whether or not to buy a product.

 

Industry 4.0's Rapid Growth in the Manufacturing Industry to Propel Market Growth:

 

Various industrial plants are implementing digital technologies as part of Industry 4.0 in the manufacturing industry to automate, upgrade, and modernise the entire process, hence boosting the plants' performance metrics. In the industrial industry, robot automation automates repetitive activities, reduces error margins to nominal levels, and frees up personnel to focus on more productive aspects of the operation. Manufacturing automation allows organisations to remain competitive on a global scale, providing a compelling and practical option to filling the skills gap. The global Industry 4.0 Market is likely to develop even faster as individuals become more aware of the benefits of embracing.

 

Lack of Security and skilled workers familiar with AI and IoT technologies:

 

Security is the missing growth component in the industry 4.0 market. Manufacturing is the second most targeted industry for attacks, according to the 2018 IBM-X Force Threat Intelligence Index. Industry 4.0 technologies are allowing hackers to assault manufacturers' data and infecting new systems to seize and vend confidential information due to a lack of protection.

 

Existing personnel will need to be trained on how to use new IoT and AI-enabled devices and software. While businesses are keen to adopt new technology, they are short on highly educated engineers and personnel who are familiar with AI and the Internet of Things.

 

Industry 4.0 Market Emerging Trends:

• Production Facility Opportunities - Industry 4.0 provides a number of opportunities for production facilities that use small batch and mixed manufacturing processes. Consumers can customise their products individually using this technique, and it also opens up new business opportunities for businesses in the industry 4.0 sector, such as a wider choice of contract options.

 

• Companies Shifting from B2B to B2B2C — Industry 4.0 offers a variety of benefits, including the ability to sell products directly to customers via e-commerce platforms. Price management, greater customer data, brand control, increased profit, and faster time delivery are some of the benefits provided by I4.0 in B2B2C. Secure payment, order fulfilment and tracking, sales, customer service management, and marketing are all included.

 

• Usage of Virtual, Augmented, and Mixed Reality — Production line development, technical and engineering support, and inventory management are all examples of how virtual, augmented, and mixed reality is used in industry 4.0 manufacturing facilities.

 

Technology Insight:

Industrial Sensors segment dominated the industry 4.0 market, with market size of US$ XX Bn. in 2020 and to reach US$ XX Bn. by 2027, with a CAGR of 16.40%. Within a smart factory, industrial sensors are used to track, monitor, and repair diverse equipment. These sensors are the foundation of the industry 4.0 ecosystem, allowing for communication across all industrial processes.

 

 

Industry Vertical Insight:

The automotive segment held the largest industry 4.0 market share of XX% in 2020 and is projected to grow at the highest CAGR of 17.38% to reach US$ XX Bn. by 2027. The automobile industry's deployment of machines and smart robots is credited with the increase. Furthermore, investments in automotive research & development are being made to improve the industry, which will drive market growth throughout the projection period.

 

Industry Developments:

Companies are involved in adopting sustainable strategies to gain competitive edges such as new product launch, product up gradation and collaborative agreements. For example:

 

• Siemens AG released a Simatic real-time locating system (RTLS) in July 2020 to give businesses with real-time location data that customers can use to regulate the manufacturing process during COVID-19 and further assist in operating procedures.

 

• SWIFTI cobot, a collaborative robotic family developed by ABB Ltd in February 2021, combines better safety and precision of an industrial robot, resilience, and ease of use with speed to a variety of applications, including manufacturing and logistics, among others.

 

Regional Overview:

APAC accounted for the largest market share in 2020, with a market value of US$ XX Bn; the regional market is expected to register a CAGR of XX% during the 2021-2027. Thanks to the quick technical improvement and relatively little investment required to start up a plant, the bulk of the leading firms have opened manufacturing operations in the Asia Pacific region. In recent years, China, Japan, and even India have seen a remarkable increase in the usage of smart manufacturing and robots in manufacturing activities. This helps to explain why the Asia-Pacific region has the fastest-growing industry 4.0 market.

 

In the Asia-Pacific, Industry 4.0 technologies are continually improving. This is also a crucial factor in the industry 4.0 market's explosive expansion in this region. Increased digitalization and cloud computing use are also projected to contribute to a greater growth rate in the Asia-Pacific region in terms of industry 4.0 market growth.

 

Strategic Expansion:

In recent years, major players in the Industry 4.0 Market have taken several strategic measures, such as facility expansions and partnerships.

 

• In March 2020, Cisco Systems collaborated with Microsoft Corporation to allow seamless data orchestration from Cisco IoT Edge to Azure IoT Cloud. This collaboration will empower customers to get a pre-integrated IoT edge-to-cloud application solution and seamless data flow through IoT edge.

 

• In February 2021, Software and SAP SE partnered to combine SAP's S/4HANA Cloud with Software AG's analytics platform, TrendMiner. This alliance will bring sensor-generated data into analytics for companies looking to opt for industry 4.0 solutions.
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The objective of the report is to present a comprehensive analysis of the Industry 4.0 Market to the stakeholders in the industry. The report provides trends that are most dominant in the Industry 4.0 Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Industry 4.0 Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Industry 4.0 Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Industry 4.0 Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Industry 4.0 Market is aided by legal factors.

 

Global Industry 4.0 Market Scope:

Industry 4.0 Market
Market Size in 2022	USD 82.64 Bn.
Market Size in 2029	USD 224.41 Bn.
CAGR (2023-2029)	15.34 %
Historic Data	2017-2021
Base Year	2022
Forecast Period	2023-2029
Segment Scope	By Technology   Industrial Robots Blockchain Industrial Sensors Industrial 3D Printing Machine Vision HMI AI in Manufacturing Digital Twin AGV’s Machine Condition Monitoring
	By Industry Vertical Automotive Electrical & Electronics Equipment Aerospace Oil & Gas Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Global Industry 4.0 Market Major Players :

• ABB
• ADVANTECH
• 3D SYSTEMS
• BASLER
• CISCO SYSTEMS
• COGNEX CORPORATION
• DAIFUKU
• EMERSON ELECTRIC
• GENERAL ELECTRIC
• HONEYWELL INTERNATIONAL
• IBM
• INTEL
• JOHN BEAN TECHNOLOGIES CORPORATION
• NVIDIA
• SIEMENS
• STRATASYS
• TECHMAN ROBOT
• UNIVERSAL ROBOTS
• ADDVERB TECHNOLOGIES
• AIBRAIN
• ALGOLUX
• BECKHOFF AUTOMATION
• BIGCHAINDB GMBH
• LOGILUBE
• PRATITI TECHNOLOGIES
• SCULPTEO
• SIGFOX