Industry 4.0 Market Size, Share | Growth Analysis 2020-2027
The Industry 4.0 Market was calculated around USD 42,200 million in 2019 and is predicted to grow at a CAGR of 20.6% over the forecast period (2020-2027).
The factors driving the growth of Industry 4.0 Market includes rise in the number of connected devices around the world, Government initiatives promoting digitization, increasing use of industrial robots at manufacturing hubs, growing focus on companies on reducing the production costs. Moreover, growing adoption of advanced technologies such as Blockchain, Artificial Intelligence (AI) and Machine Learning (ML) in the manufacturing sector, development of value chain, rapid urbanization, and increasing demand for futuristic smart devices, are some of the addition factors supplementing the Industry 4.0 Market size. In addition, the increasing investments by leading players on research and development, rise in the volumes of data generated across industries, improvements in the living standards and growing population growth rates, are further contribution towards the market growth.
However, growth of the Industry 4.0 Market is hindered attributed to insufficient availability of skilled workforce.
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The leading players operating in the Industry 4.0 Market are IBM Corporation, Google LLC, Cisco Systems, ABB Group, Mitsubishi Corporation, Siemens AG, Honeywell International Inc., Microsoft Corporation, Kuka AG, Denso Corporation, Intel Corporation, SAP SE, and General Electric, among others.
Based on Technology, the Internet of Things (IoT) segment is predicted to projected to capture the largest market share during the forecast period
As per the Industry 4.0 Market Trends, Internet of Things (IoT) reduces the manufacturing costs, helps in monitoring enterprise assets remotely, enhances the production process, improves communication, and is extensively used at power plants, factories, and airports, are some of the factors responsible for the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share over the forecast period
According to the Industry 4.0 Market Report, growing adoption of advanced technologies, Government initiatives promoting industrial automation, rapid urbanization, rising per capita incomes, improvements in the living standards and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In 2021, ABB launched its latest SWIFTI cobot, which integrates a payload of 4 kg offering benefits of safe collaborative operation and user-friendliness. This will offer new opportunities for improving productivity in a wide range of applications and enable more businesses to adopt automation.
In 2021, ABB introduced GoFa higher payload cobot, to help workers with repetitive and ergonomically challenging tasks.
In 2020, Siemens introduced the Simatic Real-time Locating Systems (RTLS) plus SieTrace software, which offers real-time location information used by customers to control their production processes during the COVID-19 crisis and design their operating procedures accordingly.
Market Segmentation
Segmentation by Technology
3D PrintingBy Offering3D Printing Material
3D Printers
Software
By ApplicationPrototyping
Tooling
Functional Part Manufacturing
By End-User IndustryEnergy & Power
Automotive
Electronics
Aerospace & Defense
Healthcare
Foundry
Industrial RoboticsBy OfferingCollaborative Industrial Robots
Articulated Robot
Cylindrical Robots
Scara Robots
Parallel Robots
Cartesian Robots
Others
By ApplicationHandling
Welding & Soldering
Assembling & Disassembling
Dispensing
Processing
By End-User IndustryAutomotive
Chemicals
Pharmaceuticals
Food & Beverages
Semiconductor
Manufacturing
Pharmaceuticals & Cosmetics
Aerospace & Defense
BlockchainBy ApplicationPredictive Maintenance
Asset Tracking and Management
Business Process Optimization
Logistics and Supply Chain Management
Real-Time Workforce Tracking and Management
Quality Control and Compliance
Counterfeit Management
By End-User IndustryEnergy & Power
Pharmaceuticals
Food & Beverages
Automotive
Aerospace & Defense
Manufacturing
Internet of Things (IoT)By OfferingSensors
Nodes
Actuators
Gateways
By End-UserAutomotive
Electronics
Oil & Gas
Energy & Power
Chemicals
Pharmaceuticals
Food & Beverages
Manufacturing
Artificial Intelligence (AI)By OfferingProcessors/Hardware
Software
By ApplicationPredictive Maintenance & Machinery Inspection
Material Movement
Production Planning
Field Services
Reclamation
Quality Control
Energy & Power
Pharmaceuticals
Food & Beverages
Automotive
Electronics
Aerospace & Defense
Healthcare
Industrial MetrologyBy OfferingCMM
ODS
Software
By ApplicationQuality Control & Inspection
Reverse Engineering
Mapping & Modeling
By End-UserAutomotive
Semiconductor
Aerospace & Defense
Manufacturing
Digital TwinBy TypeProduct Digital Twin
Process Digital Twin
System Digital Twin
By End-UserEnergy & Utilities
Oil & Gas
Automotive
Aerospace & Defense
Healthcare
Home & Commercial
Augmented Reality & Virtual RealityBy OfferingSensors
Cameras
Software
By End-UserEnergy & Power
Automotive
Aerospace & Defense
Healthcare
Electronics
5G
Segmentation by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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