Global Industry 4.0 Market is Projected to Grow at a CAGR of 19% from 2021 to 2028

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The Industry 4.0 market is showing rapid growth due to the increasing prevalence of digitalization across the globe. The factors such as industrial automation, growing internet penetration, and technical innovations are driving the market growth. Besides, ever-increasing demand for industrial robots medical device and pharmaceutical production segment and rising implementation of blockchain technology in manufacturing sector are playing a vital role in market growth.

Global Industry 4.0 market size was estimated at 210.5 USD Billion by 2028 and is anticipated to grow at a CAGR of 19% during the projected time frame (2021-2028).

The fourth industrial revolution of manufacturing segment is referred to industry 4.0 emphases mainly on machine learning, automation, interconnectivity, and real-time data. Industry 4.0 basically are integrated systems that encompass several tools such as sensors, the internet of things, artificial intelligence, sensors, cloud computing and so on.

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OVERVIEW

The latest manufacturing technologies are provided by industry 4.0 and can be used for a wide range of applications like product design, robotics control, logistics, and sensors. Industry 4.0 is valuable for a company owing to factors such as it increases efficiency, addresses potential issues, trim costs, boosts growth, optimizes manufacturing processes, high outputs, and so on.

The Industry 4.0 market is showing rapid growth due to the increasing prevalence of digitalization across the globe. The factors such as industrial automation, growing internet penetration, and technical innovations are driving the market growth. Besides, ever-increasing demand for industrial robots medical device and pharmaceutical production segment and rising implementation of blockchain technology in manufacturing sector are playing a vital role in market growth. In addition, onset of utilizing Internet of Things and Artificial Intelligence for medical wearables is expected to create lucrative growth opportunities for this market.

On the other hand, factors such as high capital investment, lack of security and dearth of skilled workforce are projected to hamper the growth of Industry 4.0 market.

The outburst of COVID-19 pandemic has considerably impacted the Industry 4.0 market. The automotive sector has faced a setback due to reduced demand which ultimately decreases the manufacturing undertakings. Also, some of the manufacturing companies have completed ceased their production. Moreover, there is an instability recorded in the supply chain across the globe because of the COVID-19 pandemic. A wide range of confronts are being faced in several regions due to the pandemic.

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Technology Analysis of Industry 4.0 Market

By technology, the Industry 4.0 market is classified into AGV’s, AI in Manufacturing, Blockchain, Industrial 3D Printing, HMI, Digital Twin, Industrial Robots, Industrial Sensors, Machine Condition Monitoring and Machine Vision. The industrial sensors segment is projected to account for the largest contribution to the market. Since sensors establish the foundation of industry 4.0 network empowering connectivity during production procedures.

 Vertical Analysis of Industry 4.0 Market

By vertical, the Industry 4.0 market is classified into Automotive, Aerospace & defense, Energy & Utilities, Electronics & Consumer Goods, Manufacturing, Food & Beverages, Oil & Gas and others. The manufacturing segment is anticipated to hold a major share in the Industry 4.0 market. Whereas automotive sector is likely to present promising growth rate in the upcoming years.

 Global Regional Analysis of Industry 4.0 Market

By region, the global Industry 4.0 market has been classified by North America, Europe, Asia Pacific, Middle East & Africa, and South America. In terms of revenue, Asia Pacific held a dominant position in the global Industry 4.0 market.

The region’s dominance is mainly attributable to growing implementation of robotics in production segment in India, China, South Korea, and Japan. In addition, factors such as financial government support, low manufacturing cost, technical innovations are projected to boost the growth of this region. Also, extensive industrial base and funding in R&D are chief elements that make Asia Pacific a dynamic region for Industry 4.0 with China and Japan being leading sponsors.

Market Segmentation

By Technology:

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

By Vertical:

  • Automotive
  • Aerospace & defense
  • Energy & Utilities
  • Electronics & Consumer Goods
  • Manufacturing
  • Food & Beverages
  • Oil & Gas

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Key Companies listed

The major companies listed in the Industry 4.0 market are 3D Systems, ABB, Addverb Technologies, Advantech, BigchainDB GmbH, Basler, Cisco Systems, Cognex Corporation, Daifuku, Emerson Electric, IBM, Intel, General Electric, Honeywell International, John Bean Technologies Corporation, Nvidia, Stratasys, Universal Robots, AIBrain, Algolux, Beckhoff Automation, BigchainDB GmbH, LogiLube, Pratiti Technologies, Sculpteo, Sigfox, Siemens, Techman Robot.

These companies are spread over North America, Europe, South America, and Asia Pacific markets, which empowers it to consider clients over the globe. The company’s leading position in the Industry 4.0 market is endorsed by its wide technology portfolio.

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