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The Industry 4.0 Market was valued at USD 127 Bn in 2023 and is expected to reach USD 735 Bn by 2032 and grow at a CAGR of 21.53% over the forecast period of 2024-2032.
The steady rise in CAGR is subject to market growth and demand reverting to pre-epidemic levels after the pandemic is over. The technical market, such as ABB Ltd, offers items such as robots, PLC automation, control room solutions, and motors and generators. Siemens AG, on the other hand, focuses on a variety of fields, including building technology, automation systems, and transportation.
As a consequence of various industries' increased emphasis on effectiveness and cost-effective performance, the market's development potential is being enhanced by expanding internet penetration and digitalization trends. The scope of possible disruption in the industrial value chain has begun to grow as a result of recent breakthroughs in digital technology and industrial automation. As a result of the fourth industrial revolution, businesses are experiencing more efficiency, lower costs, improved productivity, personalized products, and, most crucially, new revenue and business models (4.0).
Phantom Edge, for example, was released in May 2021 by Robert Bosch Engineering and Business Solutions Private Limited to provide a true perspective of electric attributes, device-level information, electrical power usage, and operating utilization. The Phantom Edge combines artificial intelligence (AI) and the internet of things (IoT) and may be utilized in a range of industries, including retail, manufacturing, medicine, agriculture, and mobility.
AI technology, the internet of things (IoT), augmented and virtual reality, 3D printing, and blockchain are all altering the business model, including product design, distribution network, production process, and customer experience. Furthermore, major government attempts to digitize production processes in a variety of industries assisted global manufacturing industry giants such as Germany, the United States, France, and Japan.
With the COVID-19 pandemic creating mayhem on the international economy, digitalization across industries is accelerating. This aspect gives digital leaders a new chance to innovate and deploy creative solutions to accelerate digitalization across the enterprise. The coming of the fourth industrial revolution (Industry 4.0) is expediting the emergence of the coronavirus, which will force organizations across industries to a larger degree of IoT technology (lol) technology and workflow. The global supply chain is undergoing unprecedented disruption as a result of the COVID-19 pandemic. Some manufacturing businesses have shut down, while others have witnessed a significant decline in demand, with only a few reporting an increase.
Organizations are implementing inventive strategies to reduce the disruption caused by virus spread. Logistics management is becoming extremely relevant in terms of risk management. Firms that have not yet started or are in the early process of implementing Industry 4.0 may face difficulties. Manufacturers and enterprises throughout the world will need to be flexible in monitoring and altering inventory requirements, simplifying supply chains, and leveraging contemporary technologies to improve industrial capacity in this circumstance. Positive government efforts are also likely to assist businesses in surviving the outbreak.
Drivers
The industrial industry is increasingly embracing robotics engineering and technology in its manufacturing processes as a result of substantial technical developments in robotics.
Industrial robotics are versatile manipulator devices that can be programmed and controlled autonomously. Welding, lifting, pressing, soldering, pick - and - place, stacking pallets, quality assurance, and testing are just a few of the popular industrial robot applications.
Restraints
Integration and implementation of industry solutions have various benefits, but they also have several drawbacks that might stifle business growth shortly.
Data and security issues connected with integrating complex technologies are expected to stymie the expansion of industry 4.0.
Opportunities
AI and IoT technologies have quickly permeated the medical business in the previous five years.
Medical wearables are increasingly incorporating artificial intelligence (AI) and Internet of Things (IoT) technologies, culminating in a unified healthcare setting
Challenges
Artificial intelligence (AI) and the Internet of Things (IoT) are major elements of intelligent industrial systems. The concept of Industry 4.0 is based on devices that are connected throughout the whole ecosystem. This interconnection generates security problems throughout the system
Data visibility is the most serious cybersecurity issue for smart manufacturing on the factory floor.
By Technology:
Industrial Robots
Industrial Sensors
Industrial 3D Printing
Machine Vision
HMI
AI in Manufacturing
Digital Twin
AGV’s
Machine Condition Monitoring
By Application:
Industrial Automation
Smart Factory
By Vertical:
Manufacturing
Energy and Utilities
Automotive
Oil and Gas
Aerospace & Defense
Electronics and Consumer Goods
Others
Regional Analysis:
The Asia Pacific region dominates the Industry 4.0 market, holding a revenue share of more than 34% in 2023, driven by manufacturing companies in countries such as China, Japan, and South Korea. These countries are actively adopting new technologies to stay competitive. Other countries in the region are following suit, with Australia promoting robotics in mining for better efficiency and safety. The main driver for this adoption is the pressure to compete in a globalized market. By integrating with advanced technologies, businesses can improve their efficiency, reduce costs, and improve the product quality.
The North America region is growing at a significant growth rate due to its strong tech ecosystem, research institutions, and skilled workforce, and is expected to experience the fastest growth in this market. A supportive regulatory environment and a culture of innovation in North America further help to increase investment in these emerging technologies.
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North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Industry 4.0 companies have used several organic and inorganic development techniques, such as new product launches and acquisitions, to boost their market offerings. General Electric (US), Honeywell International (US), ABB (Switzerland), Emerson Electric (US), 3D Systems (US), Advantech (Taiwan), Basler (Germany), Cisco Systems (US), Cognex Corporation (US), Daifuku (Japan), IBM (US), Intel (US), John Bean Technologies Corporation (US), Nvidia (US), Stratasys (Israel), Techman Robot (Taiwan), Universal Robot (Denmark) & Others are some of the major key players in the market.
| Report Attributes | Details |
| Market Size in 2023 | USD 127 Bn |
| Market Size by 2032 | USD 735 Bn |
| CAGR | CAGR of 21.53% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV's, Machine Condition Monitoring) • by Application (Industrial Automation, Smart Factory, Industrial IoT) • by Vertical (Manufacturing, Energy and Utilities, Automotive, Oil and Gas, Aerospace & Defense, Electronics and Consumer Goods and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | General Electric, Honeywell International, ABB, Emerson Electric, 3D Systems, Advantech, Basler, Cisco Systems, Cognex Corporation, Daifuku, IBM, Intel, John Bean Technologies Corporation, Nvidia, Stratasys, Techman Robot, Universal Robot |
| Key Drivers | • The industrial industry is increasingly embracing robotics engineering and technology in its manufacturing processes as a result of substantial technical developments in robotics. |
| Market Opportunities | • AI and IoT technologies have quickly permeated the medical business in the previous five years. • Medical wearables are increasingly incorporating artificial intelligence (AI) and Internet of Things (IoT) technologies, culminating in a unified healthcare setting |
The market size of the Industry 4.0 Market was valued at USD 78.44 billion in 2022.
The growth rate of the Industry 4.0 Market is 18.5% over the forecast period 2023-2030.
The key players of the Industry 4.0 Market are General Electric, Honeywell International, ABB, Emerson Electric, 3D Systems, Advantech, Basler, Cisco Systems, Cognex Corporation, Daifuku, IBM, Intel, John Bean Technologies Corporation, Nvidia, Stratasys, Techman Robot, and Universal Robot.
The Industry 4.0 Market is segmented into 3 types: By Technology, By Vertical, and By Application.
The Covid-19 pandemic impacted the Industry 4.0 Market significantly. The detailed analysis is included in the final report.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Industry 4.0 Market Segmentation, By Technology:
8.1 Industrial Robots
8.2 Blockchain
8.3 Industrial Sensors
8.4 Industrial 3D Printing
8.5 Machine Vision
8.6 HMI
8.7 AI in Manufacturing
8.8 Digital Twin
8.8 AGV’s
8.10 Machine Condition Monitoring
9. Industry 4.0 Market Segmentation, By Application
9.1 Industrial Automation
9.2 Smart Factory
9.3 Industrial IoT
10. Industry 4.0 Market Segmentation, By Vertical
10.1 Manufacturing
10.2 Energy and Utilities
10.3 Automotive
10.4 Oil and Gas
10.5 Aerospace & Defense
10.6 Electronics and Consumer Goods
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 General Electric
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Honeywell International
12.3 ABB
12.4 Emerson Electric
12.5 3D Systems
12.6 Advantech
12.7 Basler
12.8 Cisco Systems
12.9 Cognex Corporation
12.10 Daifuku
12.11 IBM
12.12 Intel
12.12 John Bean Technologies Corporation
12.14 Nvidia
12.15 Stratasys
12.16 Techman Robot
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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