LOS ANGELES , Oct. 21, 2022 (GLOBE NEWSWIRE) -- The Global Industry 4.0 Market Size accounted for USD 68.2 Billion in 2021 and is estimated to achieve a market size of USD 261.9 Billion by 2030 growing at a CAGR of 16.3% from 2022 to 2030.
Industry 4.0 Market Statistics
- Global industry 4.0 market value was USD 68.2 Billion in 2021 and expected to grow at CAGR of 16.3% from 2022 to 2030
- From 2016 to 2020, the proportion of manufacturers that are predicted to be highly digitalized increased from 33% to 72%
- North America industry 4.0 market revenue gathered about 30% market share in 2021
- Asia-Pacific industry 4.0 market growth will record noteworthy CAGR throughout the forecast timeframe from 2022 to 2030
- As per a recent survey, first-wave IIoT users might gain a 30% progress in productivity
- Based on vertical, automotive segment accounted for around 22% of the overall market share in 2021
- Surging adoption of industrial IoT is a popular industry 4.0 market trend that is fueling the industry demand
Industry 4.0 Market Growth Factors
- Growing demand for industrial automation
- Rising SME’s emphasis in digital transformation initiatives
- Growing implementation of blockchain among manufacturing industry
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Industry 4.0 Market Report Coverage:
| Market | Industry 4.0 Market | |
| Industry 4.0 Market Size 2021 | USD 68.2 Billion | |
| Industry 4.0 Market Forecast 2030 | USD 261.9 Billion | |
| Industry 4.0 Market CAGR During 2022 - 2030 | 16.3% | |
| Industry 4.0 Market Analysis Period | 2018 - 2030 | |
| Industry 4.0 Market Base Year | 2021 | |
| Industry 4.0 Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Technology, By Vertical, And By Geography | |
| Advanced Analytics Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Maschinenfabrik Reinhausen GmbH, General Electric Company, SAS, Siemens AG, osch Rexroth AG, Wittenstein AG, Festo AG & Co. KG, Wittenstein AG, Klöckner & Co. SE, Daimler AG, and TRUMPF GmbH. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Industry 4.0 Market Dynamics
Industry 4.0, also known as the fourth industrial revolution, denotes a new stage in the organization and control of the industrial value chain. The manufacturing industry is in the midst of a major transformation in the way it produces products as a result of manufacturing digitization. The increasing adoption of artificial intelligence and the internet of things in the manufacturing industry is primarily driving the global industry 4.0 market value. Additionally, the rising adoption of the blockchain technology sector is another driving factor for the industry 4.0 market.
Growing demand for industrial robots in medical devices and pharma manufacturing also fuels the market. The rapid surge in government initiatives is a very popular industry 4.0 market trend that is fueling the industry demand. However, the dearth of skilled workforce in AI and IoT sectors could hamper the market from growing. In addition to that, the high implementation cost of industrial robots and other next-gen technologies is a big constraint for the market.
Besides that, the rising adoption of AI and IoT in medical devices and wearables, and the rising usage of 3D printing technology for medical devices are expected to generate numerous growth opportunities for the market in the coming years. Furthermore, the increasing popularity of 5G in the cloud robotics sector is likely to gain significant impetus for the industry 4.0 market value.
COVID-19 Impact on the Global Industry 4.0 Market Share
Every society affected by COVID-19 was forced to adjust to a new reality. As individuals and businesses sought solutions, Industry 4.0 technology became an essential component of not only surviving the pandemic but also surviving in a post-pandemic world. Cloud computing, artificial intelligence (AI), 5G networks, and big data are some of the digitally advanced technologies that were transforming the industry during the COVID-19 pandemic.
Global Industry 4.0 Market Business Strategies
- General Electric (GE) has altered its corporate strategy to place a greater emphasis on the emerging IIoT market environment. The business has been designing business tech applications based on big data through its subsidiary Intelligent Platforms. GE is also a founder partner of the Industrial Internet Consortium, which was formed to further the Collaborative IIoT Project.
- Industry 4.0 market trend participants ABB Ltd. (Switzerland) provides technology tools and applications like communication systems, human-machine interaction, and industrial robotics. In order to effectively extend the HMI market, the firm has created its extensive automated control systems and technologies across multiple vertical platforms and other machinery like power sector products, electrical products, and drives.
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Industry 4.0 Market Segmentation
The global Industry 4.0 is segmented into technology, vertical, and region. Based on technology, the market is segmented as 3D printing, advanced human-machine interface (HMI), artificial intelligence, augmented reality & virtual reality, big data, cybersecurity, industrial robotics, and industrial internet of things (IIoT). By vertical, the market is classified into aerospace, automotive, chemical & materials, electrical & electronics equipment, energy & power, food & agriculture, healthcare, industrial equipment, oil & gas, and others.
Industry 4.0 Market Share
As per the industry 4.0 industry analysis, the industrial internet of things (IIoT) technology generated a significant market share in 2021 and is expected to continue its trend during the forecast timeframe from 2022 to 2030. According to our industry 4.0 market forecast, the automotive industry vertical will acquire a considerable market share from 2022 to 2030. The high share in the automotive industry is credited to the surging adoption of industrial robots and the wide usage of artificial intelligence.
Industry 4.0 Market Regional Growth
The global Industry 4.0 market is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa (MEA).
Among all the regions, North America gathered substantial market share in 2021 owing to the early adoption of high-end technologies and continuous technological advancements. The growing support from government organizations and presence of technologically advanced players in the region are some of the factors that are also supporting North America industry 4.0.
Europe stood for the second position due to the presence of luxurious automobile industry, and significant investments by tech giants. On the other hand, Asia-Pacific region is expected to attain significant growth rate in the coming years. Industrial revolution in China, India, Japan, and South Korea will support the Asia-Pacific industry 4.0 market.
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Industry 4.0 Market Players
The major players involved in the industry 4.0 involve Bosch Rexroth AG, Daimler AG, Festo AG & Co. KG, General Electric Company, Klöckner & Co. SE, Maschinenfabrik Reinhausen GmbH, SAS, Siemens AG, TRUMPF GmbH, and Wittenstein AG.
Questions Answered By This Report
- What was the market size of Industry 4.0 Market in 2021?
- What will be the CAGR of Industry 4.0 Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Industry 4.0 Market?
- Which region held the largest share in Industry 4.0 Market in 2021?
- What are the key market drivers of Industry 4.0 Market?
- Who is the largest end user Industry 4.0 Market?
- What will be the Industry 4.0 Market value in 2030?
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