Industry 4.0 Market Forecasts to 2028 – Global Analysis By Technology (5G, IoT), Component (Memory, RFID), Connectivity (Wireless, Wired), Platform (Cloud, Hybrid), End User (Logistics, Healthcare, Chemicals) and By Geography
According to Stratistics MRC, the Global Industry 4.0 Market is accounted for $83.83 billion in 2020 and is expected to reach $334.83 billion by 2028 growing at a CAGR of 18.9% during the forecast period. Rising adoption of industrial robots for cost-effective and enhanced quality production, growing demand for industrial robots, and increasing adoption of the industrial internet worldwide are driving the market growth. However, lack of cost-benefit analysis of Industry 4.0 solutions and significant capital investments are hampering the growth of the market.
Industry 4.0 is the fourth revolution of the manufacturing industry which is fuelled by data and machine learning. Industry 4.0 is the integrated system consisting of automation tools, robotics control, and big data analytics for effective production and operation in the manufacturing industries. It also provides the opportunity to enhance the operations efficiently and quickly for the manufacturers. Industry 4.0 has a wide range of applications such as sensors, robotics control, product design, and logistics.
Based on the technology, the Internet of Things segment is going to have lucrative growth during the forecast period as the potential benefits of IoT encouraged several industrial equipment manufacturers to implement IoT. IoT in the industrial sector combines advancements of transformative revolutions. By connecting industrial equipment together using wireless connectivity and gathering sensor data from the equipment, manufacturers can accurately determine the current state of machines, optimize their performance, identify potential failures, and plan maintenance schedules. By geography, Asia Pacific is going to have high growth during the forecast period due to the continuous technological advancements, financial support from the governments, exhaustive measures to adopt industrial automation and implement disruptive technologies in their manufacturing system value chain.
Some of the key players profiled in the Industry 4.0 Market include Yaskawa, Stratasys, AIBrain, Google, Mitsubishi, Amazon Web Services, KUKA, Intel, General Vision, HP, General Electric, FANUC, Cisco, Ansys, IBM, Microsoft, ABB, Siemens and SAP.
Estimated Market Size in 2020:
USD 83.83 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 334.83 billion
Tables, Graphs& Figures
Software, Technology, Component, Connectivity, Platform, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Operations Performance Management
• Field Service Management
• Asset Performance Managements
• Industrial Robotics & Smart Controllers
• Internet of Things
• Additive Manufacturing (3D Printing)
• Artificial Intelligence
• Digital Twin
• Industrial Metrology
• Augmented Reality & Virtual Reality
• Smart Factory
• Machine Learning
• Location Detection Technology
• Industrial Automation
• Horizontal and Vertical System Integration
• Cybersecurity & Cloud Computing
• Big Data and Analytics
• Advanced Human Machine Interface (HMI)
• Networking Components (Gateway & Routers)
• Battery Management
• Device and Equipment
• Radio Frequency Identification (RFID)
• Control Systems
• Yield Monitors
• Robotics & Drones
• Camera Systems
• Sensors & Actuators
• Display & Monitors
• Wireless Technologies
• Wired Technologies
• Cellular Technologies
End Users Covered:
• Pharmaceuticals & Cosmetics
• Oil & Gas
• Home & Commercial
• Food & Beverages
• Energy & Power
• Consumer Goods
• Aerospace & Defense
• Electronics & Semiconductor
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Industry 4.0 Market is majorly driven by growing demand for industrial robots, increasing adoption of the industrial internet worldwide and rising adoption of industrial robots for cost-effective and enhanced quality production.
The internet of things segment is growing at a highest CAGR as the IoT in the industrial sector combines advancements of transformative revolutions. By connecting industrial equipment together using wireless connectivity and gathering sensor data from the equipment, manufacturers can accurately determine the current state of machines, optimize their performance, identify potential failures, and plan maintenance schedules.
North America dominated with a significant market share due to the rising acceptance of smart manufacturing by various reputed firms and surging investments in R&D activities, coupled with favorable government initiatives.
Asia Pacific region is growing at a highest CAGR owing to the increasing adoption of robotics in the manufacturing sector and low production cost enabling market players to set up manufacturing facilities in this region.
Key players in Industry 4.0 Market include Yaskawa, Stratasys, AIBrain, Google, Mitsubishi, Amazon Web Services, KUKA, Intel, General Vision, HP, General Electric, FANUC, Cisco, Ansys, IBM, Microsoft, ABB, Siemens and SAP.
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