Industry 4.0 Market

Global Industry 4.0 market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.

Industry 4.0 Market – Industrial Automation Penetrates Deeper, Adoption of Industrial Robots Soars

There has been a steady increase in the prevalence of industrial robotics in various manufacturing hubs around the world. Earlier, these robots were considered to be expensive machines that had minimal capabilities. However, these days these machines are not as expensive and can perform a wide range of tasks owing to rapid advancements, development, and evolution in technology. Additionally, the steady increase in industrialization has also contributed to further growth of the global industry 4.0 market. With the manufacturing industry growing at a rapid pace due to higher population figures and urbanization, the demand for these machines is slated to have a profound influence on the trajectory of the market in the coming years.

Industry 4.0 Market – Additive Manufacturing Major Growth Driver

In recent times, there has been robust growth experienced by the additive manufacturing, and 3D printing industries. The 3D printing technology has rapidly grown in popularity and is presently used for a host of applications, such as the increased use of 3D printing to cater to the increase in the demand for ventilator valves, more specifically since the onset of COVID-19. Factors such as this are expected to play a significant part in boosting growth prospects for the players engaged in Industry 4.0 market. Moreover, the integration of AI and the IoT with the new Phantom Edge, which has applications in various industries including retail, industrial manufacturing, agriculture, healthcare, and mobility.

Industry 4.0 Market – Potential Opportunities for Start-ups Held Back by High Implementation Costs

While industrial robots have proven their worth in completing repetitive tasks resulting in reduced downtime, greater efficiency, and the elimination of manual labour, these machines are expensive. A single industrial robot can cost upwards of US$20,000. Thus, the costs incurred by start-up companies are substantial, with most of these businesses finding this an unfeasible strategy. This is expected to be a notable factor that could adversely impact the growth trajectory of the global Industry 4.0 market in the coming years.

Industry 4.0 Market – COVID-19 Impact

The onset of the COVID-19 pandemic resulted in the imposing of restrictions by respective governments on the movement of people and goods, as well as the hampered supply of necessary raw materials, among other operational hurdles. This led to a significant decline in generated revenues for many industries and was no different for the Industry 4.0 market. Market growth was temporarily halted for Industry 4.0. However, the onset of this pandemic sped up the implementation and adoption of Industry 4.0 solutions. Several manufacturers implemented these technological solutions in workflows which resulted in a substantial increase in output and efficiency. This is slated to continue having a positive impact on the further progression of this global market.

Industry 4.0 Market – North America to Experience Robust Growth

Owing to a wide range of factors such as the significant presence of industry players in this region, the increasing adoption of smart manufacturing solutions, favourable initiatives by respective governments, as well as greater investments towards the further development of innovations in this field, markets in North America are slated to account for the majority share of the global industry 4.0 market, followed by those markets in Europe. On the other hand, the regional market of the Asia Pacific is also expected to index a notable CAGR over the forecast period. This is due to the robust growth being experienced by powerhouse manufacturing hubs such as India, Japan, South Korea, and China.

Industry 4.0 Market – Competitive Landscape    

Major players in the Industry 4.0 market include General Electric, Siemens, Honeywell International, ABB Ltd., Emerson Electric, 3D Systems, Advantech, Basler, Cisco Systems, Cognex Corporation, Daifuku, IBM, Intel, John Bean Technologies Corporation, and Nvidia, to name a few. To gain a competitive edge, various established industry players are now more focused on new product launches, partnerships, collaborations, acquisitions, and alliances.

Recent Notable Developments

• In October 2020, Cisco Systems Inc. Announced the acquisition of BabbleLabs Technology, a speech technology organization. This move was expected to improve the video meeting experience with noise removal and speech enhancement technology
  
  
• In November 2020, Ansys Inc. Announced a partnership with LG Electronics Inc. This was done to develop a virtual learning portal created by Ansys Inc.
  
  
• In March 2021, ABB Ltd. Collaborated with Nestle to install monitoring software in confectionary factories
  
  
• Nokia Corporation collaborated with WEG Industries, a power and automation company, to facilitate the advancement of the Nokia Digital Automation Cloud (DAC), and unveil an Industry 4.0 solution
  
  
• In February 2022, IBM acquired Sentaca, a leading telco consulting services and solutions provider. This acquisition is expected to accelerate IBM’s hybrid cloud consulting business

Regional Classification of Global Industry 4.0 Market Can be Given as Below:

North America

• U.S.
• Canada

Europe

• Russia
• Germany
• France
• Spain
• U.K.
• Italy
• Rest of Europe

Latin America

• Brazil
• Mexico
• Rest of Latin America

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Middle East and Africa

• GCC
• South Africa
• North Africa
• Rest of MEA

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Industry 4.0 Market

• Industry 4.0 Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2019 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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