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Industry 4.0 Market Size & Analysis Report By Technology and By Region – Global Opportunities and Forecast, 2020-2027
Industry 4.0 Market Size & Analysis Report By Technology (IoT, Artificial Intelligence, Industrial Metrology, Industrial Robotics, AR & VR, Blockchain, 3D Printing, Digital Twin, and 5G- Offering, Application, and End Users), By Region- Global Opportunities and Forecast, 2020-2027
Published Date: Nov-2020 | Report Format: Excel/PPT | Report Code: UP704A-00-0620
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Industry 4.0 Market was valued at USD 42,200 Million in 2019 and is expected to register a CAGR of 20.6% during the forecast period.
Industry 4.0 is the subcategory of the fourth industrial revolution that concerns the industry. It is the rise of new industrial technology that focuses heavily on interconnectivity, automation, machine learning, and real-time data. It enables us to gather and analyze data across machines, thus allowing faster, more flexible, and efficient processes to produce higher-quality goods at a lower cost. It also connects physical with digital and allows for better collaboration and access across departments, partners, vendors, products, and people. Industry 4.0 enables business owners to improve controlling, understand every phase of their operation, and allow them to control instant data to increase productivity and develop processes. Technologies such as automation, AI, IoT, and more are becoming more and more popular. Industry 4.0 is more about the advancement of technologies and its impact on daily lives. The manufacturing revolution has helped in increasing productivity, economics, and faster industrial growth.
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Rapid digitalization, emerging need for industrial automation, and growing demand for industrial robots in pharmaceutical and medical device manufacturing industry are the chief factors driving the Industry 4.0 market size. In addition, increasing adoption of Internet of Things and Artificial Intelligence in the manufacturing industries to optimize the production process and reduce human reliance will further strengthen the market growth. As per the Industry 4.0 Market report, growing emphasis on improving the efficiency of machinery and rising demand for industrial automation has bolstered the market size. With the increase in connected devices and rising data volume, the need to adapt products and services to digital world has increased, fueling the global Industry 4.0 market growth. Moreover, the advent of fourth industrial revolution has improved the efficiency and productivity of businesses, thus, helping them develop new business models. For example, in May 2021, Robert Bosch Engineering and Business Solutions Private Limited Introduced Phantom Edge to offer a real-time view of appliance level information, electrical energy consumption, and operational usage. The Phantom Edge incorporates Artificial Intelligence and the Internet of things (IoT) to be used in various sectors, including industrial manufacturing, retail, healthcare, agriculture, and mobility.
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Based on the technology, the IoT segment is expected to dominate the market during the forecast period. Several industrial equipments manufacturers are implementing IoT due to the various advantages of IoT, such as it improves communication and enhances performance at a lower cost. Manufacturers can accurately identify the current state of machines, increase their performance, identify potential failures, and plan maintenance schedules accordingly by connecting industrial equipment with each through a wireless connection. Additionally, it provides the ability to monitor enterprise assets remotely and perform predictive maintenance, which is increasing the adoption of IoT in the industry 4.0 market. Remote monitoring offers some degree of automation and design to control large or complex facilities such as factories, power plants, network operations centers, airports, and spacecraft.
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Based on the region, Asia-pacific region is expected to dominate the industry 4.0 market during the forecast period owing to the increasing adoption of robotics in various industries such as automation, manufacturing, electronics, among others, especially in countries such as China, Japan, India, and Korea. Lower cost of production and labor cost in this region is encouraging the manufacturers to set the manufacturing plant in these countries. Moreover, continuous technological advancements and increasing government investment, coupled with a broad industrial base in this region are also propelling the market growth.
Various notable players in the Industry 4.0 market include ABB Group, Mitsubishi Corporation, Siemens AG, Denso Corporation, IBM Corporation, Google LLC, Cisco Systems, Honeywell International Inc., Microsoft Corporation, Kuka AG, Intel Corporation, SAP SE, and General Electric, among others.
Key Developments:
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- In 2021, ABB introduced its latest SWIFTI cobot, which incorporates a payload of 4 kg offering benefits of safe collaborative operation and user-friendliness. This will offer new opportunities for enhances productivity in a wide range of applications and enable more businesses to adopt automation.
- In 2021, ABB launched GoFa higher payload cobot, to help workers with repetitive and ergonomically challenging tasks.
- In 2020, Siemens launched the Simatic Real-time Locating Systems (RTLS) plus SieTrace software, offering real-time location information to be used by customers to control their production processes during the COVID-19 crisis and design their operating procedures accordingly.
- In Nov 2019, Microsoft Corporation announced a collaboration with Nokia to accelerate digital transformation and Industry 4.0 across industries including smart factories, smart cities, healthcare, and transportation hubs such as ports, airports, and other industries with cloud, Artificial Intelligence (AI) and Internet of Things (IoT) for communication services and enterprises.
- In Apr 2018, ABB announced a partnership with Ericsson, and both the companies signed Memorandum of Understanding (MoU) at Hannover Messe 2019 to accelerate wireless automation for flexible factories and bring 5G and Industry 4.0 into the industrial ecosystem.
The Global Industry 4.0 market has been segmented based on the technology and region. Based on the technology market is categorized into IoT, Artificial Intelligence, Industrial Metrology, Industrial Robotics, AR & VR, Blockchain, 3D Printing, Digital Twin, and 5G. IoT segment is further bifurcated into offering and end-user. Based on Artificial intelligence, the market is further segmented into offering and application. Based on Industrial Metrology, the market is further segmented into the offering, use, and end-user. Based on Industrial Robotics, the market is further segmented into the offering, application, and end-user. Based on AR & VR, the market is further segmented into offering and end-user. Based on Blockchain, the market is further segmented into application and end-user. Based on 3D printing, the market is further segmented into offering, application, and end-user. Based on Digital Twin, the market is segmented into type and end-user.
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Key questions answered in this research report:
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- At what pace is the global Industry 4.0 market growing? What will be a growing trend in the future?
- What are the key drivers and restraints in the global Industry 4.0 market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Industry 4.0 market?
- Which Technology generated maximum revenues in 2019 and identify the most promising Technology during the forecast period?
- What are the various application areas of the global Industry 4.0 market, and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
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Report Coverage |
Details |
| Market Base Year |
2019 |
| Market Forecast Period |
2020-2027 |
| Market Revenues (2019) |
USD 42,200 Million |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Technology, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | ABB Group, Mitsubishi Corporation, Siemens AG, Denso Corporation, IBM Corporation, Google LLC, Cisco Systems, Honeywell International Inc., Microsoft Corporation, Kuka AG, Intel Corporation, SAP SE, General Electric, among others; A total of 13 Companies Covered. |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Industry 4.0 Market by Technology
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- 3D Printing
- By Offering
- 3D Printing Material
- 3D Printers
- Software
- By Application
- Prototyping
- Tooling
- Functional Part Manufacturing
- By End-User Industry
- Energy & Power
- Automotive
- Electronics
- Aerospace & Defense
- Healthcare
- Foundry
- By Offering
- Industrial Robotics
- By Offering
- Collaborative Industrial Robots
- Articulated Robot
- Cylindrical Robots
- Scara Robots
- Parallel Robots
- Cartesian Robots
- Others
- By Application
- Handling
- Welding & Soldering
- Assembling & Disassembling
- Dispensing
- Processing
- By End-User Industry
- Automotive
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Semiconductor
- Manufacturing
- Pharmaceuticals & Cosmetics
- Aerospace & Defense
- By Offering
- Blockchain
- By Application
- Predictive 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 Industry
- Energy & Power
- Pharmaceuticals
- Food & Beverages
- Automotive
- Aerospace & Defense
- Manufacturing
- Internet of Things (IoT)
- By Offering
- Sensors
- Nodes
- Actuators
- Gateways
- By End-User
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- By Offering
- Artificial Intelligence (AI)
- By Offering
- Processors/Hardware
- Software
- By Application
- Predictive Maintenance & Machinery Inspection
- Material Movement
- Production Planning
- Field Services
- Reclamation
- Quality Control
- Energy & Power
- Pharmaceuticals
- Food & Beverages
- Automotive
- Electronics
- Aerospace & Defense
- Healthcare
- By Offering
- Industrial Metrology
- By Offering
- CMM
- ODS
- Software
- By Application
- Quality Control & Inspection
- Reverse Engineering
- Mapping & Modeling
- By End-User
- Automotive
- Semiconductor
- Aerospace & Defense
- Manufacturing
- By Offering
- Digital Twin
- By Type
- Product Digital Twin
- Process Digital Twin
- System Digital Twin
- By End-User
- Energy & Utilities
- Oil & Gas
- Automotive
- Aerospace & Defense
- Healthcare
- Home & Commercial
- By Type
- Augmented Reality & Virtual Reality
- By Offering
- Sensors
- Cameras
- Software
- By End-User
- Energy & Power
- Automotive
- Aerospace & Defense
- Healthcare
- Electronics
- By Offering
- 5G
- By Application
- 3D Printing
Global Industry 4.0 Market by Region
-
- North America Industry 4.0 Market (Option 1: As a part of the free 25% customization)
- By Technology
- US Market All-Up
- Canada Market All-Up
- Europe Industry 4.0 Market (Option 2: As a part of the free 25% customization)
- By Technology
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
- Asia-Pacific Industry 4.0 Market (Option 3: As a part of the free 25% customization)
- By Technology
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
- RoW Industry 4.0 Market (Option 4: As a part of the free 25% customization)
- By Technology
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
- North America Industry 4.0 Market (Option 1: As a part of the free 25% customization)
Major Players Operating the Industry 4.0 (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- ABB Group
- Mitsubishi Corporation
- Siemens AG
- Denso Corporation
- IBM Corporation
- Google LLC
- Cisco Systems
- Honeywell International Inc.
- Microsoft Corporation
- Kuka AG
- Intel Corporation
- SAP SE
- General Electric
Frequently Asked Question About This Report
Industry 4.0 Market [UP704A-00-0620]
The top players in the industry 4.0 market include ABB Group, Mitsubishi Corporation, Siemens AG, Denso Corporation, IBM Corporation, Google LLC, Cisco Systems, Honeywell International Inc., Microsoft Corporation, Kuka AG, Intel Corporation, SAP SE, and General Electric, among others.
The growth rate of industry 4.0 Market during 2020-2027 is 20.6%.
The IoT segment is expected to dominate the market during the forecast period owing Several industrial equipment manufacturers are implementing IoT due to the various advantages of IoT, such as it improves communication and enhances performance at a lower cost.
The Asia-pacific region is expected to dominate the industry 4.0 market during the forecast period owing to the increasing adoption of robotics in various industries such as automation, manufacturing, electronics, among others.