Industry 4.0 Market

Industry 4.0 Market size was valued at USD 72.7 billion in 2022 and is forecast to touch USD 314.5 billion in 2030, and the market is expected to grow at a whopping CAGR of 20.1% from 2023-2030 attributed to growing adoption of automated equipment in the manufacturing sector and increasing investments in 3D printing.

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Major Industry 4.0 Market Trends and Drivers

Industry 4.0 market is primarily driven by surge in the adoption of technologies such as Artificial Intelligence, 5G and Machine Learning (ML), on-going investments in additive manufacturing and rising focus of companies on adopting industry 4.0 practices for increasing their profitability and efficiency in manufacturing processes. In last few years, demand for 3d printing has increased significantly in the healthcare industry for manufacturing personal protective equipment like shield and masks, nasal swabs, and ventilator parts. Governments worldwide are funding educational institutes and research centers and enterprises to promote 3D printing. United States Department of Defense (DoD) in 2021 launched Additive Manufacturing for Defense program, which focuses on developing modernized defense systems in the country by utilizing Additive manufacturing equipment. Under the program, U.S DoD will fund advanced additive manufacturing technologies for defense related purposes. Chinese government is promoting additive manufacturing under its Made in China 2025 initiative, which focusses on upgrading industrial capability and promoting smart manufacturing in China. Under the initiative Chinese government will offer funding’s and financial incentives to enterprises, to increase the adoption of additive manufacturing technologies in the country. Such programs and initiatives are boosting the growth of industry 4.0 growth.

Cloud robotics is gaining popularity in the industry 4.0 market as it provides massive volumes of data to robotic devices. Low latency and higher through of 5G networks combined with cloud robotics data processing capabilities, are creating growth opportunities for industry 4.0 market. Furthermore, since industrial robots are used in high scale in manufacturing plants, these robots often create integration problems. Integration of Industrial robots with assembly lines is a hectic process, many times, companies need to take expertise from an integrator, to ensure these robots are working efficiently. Since small medium size enterprises have budget constraints and they operate on comparatively smaller manufacturing plants than large sized companies, they hesitate to adopt industrial robots. These robots can cost more than USD 20,000, which makes unfeasible for many start-ups, as they have limited funding options. All these factors are hampering the industry 4.0 market growth.

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Based on Technology, Machine Condition Monitoring segment is forecast to capture the largest industry 4.0 market share.

Machine condition manufacturing technology is becoming popular in the industry 4.0 market as it automates process control systems in smart factories coupled with rising awareness amongst end-users about the benefits of installing condition monitoring systems, is accelerating the segment’s growth.

As per industry 4.0 market report, Manufacturing segment is projected to dominate the market

Rise in the deployment of smart robots by companies in manufacturing plants and advancements in the field of digital twin and Internet of Things (IoT) technologies, are accelerating the adoption of industry 4.0 practices in manufacturing sector, which is driving the segment’s growth. These robots find their applications majorly in picking and position, product inspection and heavy lifting in the manufacturing industry. Furthermore, major companies operating in the manufacturing sector are collaborating with each other to boost to expand their automation portfolio. ABB partnered collaborated with Planar Motor Inc, which is a global leader in magnetically levitated planar motors, to expand its flexible manufacturing portfolio. ABB integrated magnetic levitation technology into its Machine Automation Division’s (B&R) portfolio, to offer its customers precise manufacturing solutions.

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According to industry 4.0 market research report, North American region is expected to expand at the fastest rate

North American industry 4.0 market is majorly driven by financial support offered by governments to boost the production of products manufactured using 3D printing techniques and rise in funding to research institutions. In addition, United States has substantial industrial base and various companies in the country have high production capacity, thus U.S is projected to remain a major contributor in the North American region in coming years. Asia-Pacific industry 4.0 market is propelled by increasing focus of companies on establishing smart factories, favorable government policies and rising adoption of advanced technologies like big data and robotics.

Industry 4.0 Market Companies

Various industry 4.0 vendors operating in the market are are 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:

• • In February 2021, ABB, major automation company based in Switzerland introduced its latest SWIFTI cobot, which incorporates a payload of 4 kg and will help businesses to increase productivity in production  and product handling applications.
  • In June 2020, Siemens announced the launch of its Simatic Real-time Locating Systems (RTLS) plus SieTrace software, which will enable enterprises to model employee interaction, production line and plant line. Using Simatic RTLS plus software, companies can continuously measure distances between employees and provide them real-time feedback about spacing.
  • In August 2020, Cisco Systems completed the acquisition of BabbleLabs, Inc., a software company based in United States. This acquisition helped the company to improve the video meeting experience of its customer and promote privacy and cloud privacy.
  • In March 2020, Cisco Systems announced that it has entered into partnership with Microsoft. This partnership will enable their customers to move data seamlessly from Cisco’s IoT edge to Microsoft’s Azure IoT Cloud.
  • In November 2019, Microsoft, leading technology corporation based out of United States collaborated with Nokia to boost digital transformation and Industry 4.0 across smart factories, smart cities and transportation, combining Microsoft’s cloud solutions and Nokia’s mission-critical networking.
  • In April 2018, ABB entered into a partnership with Ericsson, which is a Swedish telecommunication company. Both companies signed Memorandum of Understanding (MoU) to boost the wireless automation for flexible factories.

Industry 4.0 Market Segmentation

Global Industry 4.0 market has been segmented based on Technology, Vertical and Region. Based on Technology, market is segmented into Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV’s and Machine Condition Monitoring. Based on Vertical, market is segmented into Manufacturing, Energy & Utilities, Automotive, Oil and Gas, Aerospace & Defense, Electronics and Consumer Goods and Others.

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Market Segmentation

Global Industry 4.0 Market by Technology

• • Industrial Robots
  • Blockchain
  • Industrial Sensors
  • Industrial 3D Printing
  • Machine Vision
  • HMI
  • AI in Manufacturing
  • Digital Twin
  • AGV’s
  • Machine Condition Monitoring

Global Industry 4.0 Market by Vertical

• • Manufacturing
  • Energy & Utilities
  • Automotive
  • Oil and Gas
  • Aerospace & Defense
  • Electronics and Consumer Goods
  • Others

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
    • By Vertical
    • US Market All-Up
    • Canada All-Up

  • Europe Industry 4.0 Market (Option 2: As a part of the free 25% Customization)

    • By Technology
    • By Vertical
    • 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
    • By Vertical
    • 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
    • By Vertical
    • 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

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)

• • 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