Global Industry 4.0 Market by Component (Hardware, Software and Services), by Technology (3D Printing, Industrial Robotics, Blockchain, Internet of Things (IoT), Artificial Intelligence (AI), Industrial Metrology, Digital Twin, Augmented Reality & Virtual Reality and Others (5G, Machine Learning, Cyber security, Cloud Computing and Others), By Application (Industrial Automation, Smart Factory and Industrial internet of things (IIoT)), by End-User Industry(Automotive, Electronics, Oil & Gas, Energy & Power, Chemicals, Pharmaceuticals, Food & Beverages, Manufacturing and Others) and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)- Global Forecast to 2027
Global Industry 4.0 Market Overview:
Industry 4.0 is based on the division made at different stages of industrial development. Industry 4.0 is the age of using information technology to promote industrial transformation that is the era of intelligence. The concept of Industry 4.0 includes the transformation from centralized control to decentralized enhanced control. The goal is to establish a highly flexible production model of personalized and digital products and services. In this model, traditional industry boundaries will disappear, and various new fields of activity and forms of cooperation will emerge. The process of creating new value is changing, and the division of labor in the industrial chain will be reorganized.
Global Industry 4.0 Market Insights
Global Industry 4.0 market size was valued at USD 74.8 billion in 2019 and is anticipated to which expected to reach USD 213.84 billion by 2027, growing at a CAGR of 12.77 % from 2020–2027. The growth of the market is based on rising adoption of smart devices across multiple industrial processes in the manufacturing sector. Further, the growing application of industry 4.0 in gathering the data and further integrate it with the digital services will spur the growth of the market. Additionally, the growth in demand for industrial automation, upsurge in the use of robot technology, and the increase in government expenditure is expected to witness remarkable growth of the Industry 4.0 market. Also, the growth technologies such as 3D printing, industrial robots, blockchain, AR &VR, AI, and 5G are estimated to propel the growth in future periods.
Moreover, the surge in the trend of processing the sensors using machine learning and artificial intelligence and real-time data streams generated by the IoT networks is positively impacting the demand of the Industry 4.0. The digitization of product and service offerings, digital business models, and customer access will boost the Industry 4.0. in the forecast periods. Furthermore, the growing popularity of intelligent manufacturing techniques to enhance productivity across various industry verticals is projected to drive the growth of Industry 4.0 in the coming years. The development of 3D printing to improve the supply chain management and manufacturing industry is anticipated to trigger the growth of the global Industry 4.0 market share in the analysis period.
Growth Driver
Growing demand for industrial robots
An industrial robot is a multi-joint manipulator or multi-degree-of-freedom machine device for the industrial field. It automatically perform work and is a machine that realizes various functions by its power and control capabilities. Typical applications of industrial robots include painting, welding, assembly, collection, and placement (such as packaging, palletizing, and SMT), product inspection and testing, etc. The work is completed with high efficiency, durability, speed, and accuracy. Industrial robots are widely used in various industrial fields such as electronics, logistics, and the chemical industry.
Rising adoption of industrial internet of things for cost-effective and enhanced quality production
The introduction of industrial things brings time-critical synchronization, high network reliability, and efficiency suitable for motion control and safety applications. Unlike in an office environment, industrial Ethernet requires connectors and cable routing to have a higher level of ruggedness. Still, more importantly, it requires a higher level of decision-making mechanism, which is specifically from industrial specific protocols. The Internet of Things and Industry 4.0 can correctly assume the vital task and will continue to be the platform of choice on the factory floor. Typical application examples include motion and machine control, where speed and system performance are critical.
COVID-19 Impacts Insights
The COVID-19 pandemic will fundamentally change the direction of global economic development and accelerate the changes that have already begun. The digital infrastructure implementation increasingly fuels the digital transformation initiatives within an organization. But due to the pandemic, the transition will see significant changes in industries, especially in technology, food delivery services, customer service, and virtual events. These include smart manufacturing, smart factory, dark factories, and industrial IoT technology. All four of these reflect a more significant trend: Automation. Much of Industry 4.0 involves using improved data collection to streamline workflow and manufacturing processes.
Component Segmental Analysis
Based on the component, the global Industry 4.0 market classified into hardware, software, and services. The software segment held maximum Industry 4.0 market share in 2019. It is attributable to the software that create new business models, enables the integration of systems and sensors and ensure better operational efficiency.
The Services will be the fastest-growing segment in the forecast period. It is owing to services provide consulting in the field of Industry 4.0 to various industries, including collaborative projects to test new business models and help in discovering new potentials.
Technology Segmental Analysis
Based on technology, the global Industry 4.0 market segregated into 3D Printing, Industrial Robotics, Blockchain, Internet of Things (IoT), Artificial Intelligence (AI), Industrial Metrology, Digital Twin, Augmented Reality & Virtual Reality and Others (5G, Machine Learning, Cybersecurity, Cloud Computing, and Others. The Internet of Things (IoT), the segment accounted for a higher revenue share in 2019 and projected to dominate the Industry 4.0 market by 2027. It is primarily attributed to the growing usage of IoT by manufacturing industries for the current state of machines, optimizing their performance, identifying potential failures, planning maintenance schedules accordingly, and being able to monitor enterprise assets remotely and perform predictive maintenance.
The Industrial Robotics will grow with a lucrative growth rate in the forecast period. It is utilized in modern factories to eliminate the requirement of humans for several basic & complex tasks and increase operational efficiency & productivity.
Application Segmental Analysis
Based on the application, the global Industry 4.0 market classified into Industrial Automation, Smart Factory, and Industrial Internet of things (IIoT). The Industrial Internet of things (IIoT) segment will hold higher market potential by 2027. It is owing to it play a decisive role in the implementation of digital manufacturing and the growing demand for IIoT for connected supply chain, which enables operational efficacy, flexibility, and conformance to regulations.
The smart factory held a significant market share in 2019. It is due to the growing demand for automation in SMEs and government initiatives for supporting innovation in the manufacturing industry.
End-User Industry Segmental Analysis
Based on the end-user industry, the global Industry 4.0 market segmented into Automotive, Electronics, Oil & Gas, Energy & Power, Chemicals, Pharmaceuticals, Food & Beverages, Manufacturing, and Others. The manufacturing segment is projected to witness the fastest growth over the forecast period by 2027. It is on account of industry 4.0 enhanced efficiency of machinery and systems and reduced production cost.
Food & Beverages will showcase a lucrative CAGR during the forecast period. It is due to the Industry 4.0 help in productivity and cost-saving benefits associated with the industry offering. Additionally, it provides the determining ideal operational parameters and managing employee allocation for various tasks.
Region Segmental Analysis
Based on geography, the global Industry 4.0 market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is slated to account for a significant share by 2027 in the Industry 4.0 market. The growth in the region can be attributed to the low cost of production, enabling various manufacturers to set up manufacturing facilities along with technological advancements and financial support from the governments.
North America is projected to provide significant growth opportunities due to the presence of the key players in this region and the growing demand for decentralized and autonomous real-time production, smart automation, and data exchange in manufacturing technologies.
Competitor Analysis
Companies such as ABB, Mitsubishi, Yaskawa, KUKA, FANUC, General Electric, IBM, Cisco, Microsoft, Stratasys, Google, Intel, HP, Siemens, Ansys, AIBrain, SAP, Amazon Web Services, Texas Instruments, and General Vision, are the key players in the global Industry 4.0 Market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global Industry 4.0 service providers
- Research organizations and consulting companies
- Organizations, associations, and alliances related to Industry 4.0
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Component
- Hardware
- Software
- Services
By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Others
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Global Industry 4.0 Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Landscape
- Competitors & Product Analysis
- Policy & Regulatory Framework
- Company market share analysis, 2018
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- COVID-19 Impact on Industry 4.0 Market
- Economic Factor Analysis
- Global Industry 4.0 Market Overview
- Market Size & Forecast, 2016-2027
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Component
- Market Size & Forecast, 2016-2027
- North America Industry 4.0 Market Overview
- North America Industry 4.0 Market Size & Forecast, 2016-2027
- By Value (USD Million)
- North America Industry 4.0 Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Country
- USA
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Industry 4.0 Market
- By Component
- North America Industry 4.0 Market Size & Forecast, 2016-2027
- Europe Industry 4.0 Market Overview
- Europe Industry 4.0 Market Size & Forecast, 2016-2027
- By Value (USD Million)
- Europe Industry 4.0 Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Country
- UK
- Germany
- France
- Netherlands
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Industry 4.0 Market
- By Component
- Europe Industry 4.0 Market Size & Forecast, 2016-2027
- Asia Pacific Industry 4.0 Market Overview
- Asia Pacific Industry 4.0 Market Size & Forecast, 2016-2027
- By Value (USD Million)
- Asia Pacific Industry 4.0 Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Country
- China
- Japan
- India
- Singapore
- South Korea
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Industry 4.0 Market
- By Component
- Asia Pacific Industry 4.0 Market Size & Forecast, 2016-2027
- South America Industry 4.0 Market Overview
- South America Industry 4.0 Market Size & Forecast, 2016-2027
- By Value (USD Million)
- South America Industry 4.0 Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Industry 4.0 Market
- By Component
- South America Industry 4.0 Market Size & Forecast, 2016-2027
- Middle East & Africa Industry 4.0 Market Overview
- Middle East & Africa Industry 4.0 Market Size & Forecast, 2016-2027
- By Value (USD Million)
- Middle East & Africa Industry 4.0 Market Share & Forecast, 2016-2027
- By Component
- Hardware
- Software
- Services
- By Technology
- 3D Printing
- Industrial Robotics
- Blockchain
- Internet of Things (IoT)
- Artificial Intelligence (AI)
- Industrial Metrology
- Digital Twin
- Augmented Reality & Virtual Reality
- Others (5G, Machine Learning, Cyber security, Cloud Computing etc.)
- By Application
- Industrial Automation
- Smart Factory
- Industrial internet of things (IIoT)
- By End-User Industry
- Automotive
- Electronics
- Oil & Gas
- Energy & Power
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Manufacturing
- Healthcare
- Others (Logistics, IT, etc.)
- By Country
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Industry 4.0 Market
- By Component
- Middle East & Africa Industry 4.0 Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- ABB LTD.
- Mitsubishi Electric Corp.
- Yaskawa
- KUKA
- FANUC
- General Electric Company
- International Business Machines Corporation
- Cisco Systems, Inc.
- Microsoft Corporation
- Stratasys LTD.
- Intel Corporation
- Hewlett Packard Enterprise Company
- Siemens AG
- Ansys
- Other Prominent Players