Global Industry 4.0 Market to Garner USD 280.2 billion by 2030, with 21.0% CAGR 2022 to 2030; confirms MRFR

Global Industry 4.0 Market to Garner USD 280.2 billion by 2030, with 21.0% CAGR 2022 to 2030; confirms MRFR

The Industry 4.0 market is likely to witness substantial revenue growth worldwide. The rising adoption of various futuristic smart devices would drive the market. Market Research Future (MRFR) expects the global Industry 4.0 market value to escalate from USD 73.81 billion in 2022 to USD 280.2 billion by 2030, registering a 21.0% CAGR throughout the forecast period (2022-2030). 


The growing integration of new technologies, including the IoT, cloud computing & analytics, and AI and machine learning into manufacturing production facilities and operations, substantiate the Industry 4.0 market shares. The development of value chains would enhance the industry 4.0 market growth. Besides, rising deployments of IIoT devices and growing automation across industries boost the industry 4.0 market size.


On Apr 2023, Nokia, a Finnish Telecom equipment manufacturer, launched four new third-party applications for the MX Industrial Edge (MXIE) to help accelerate its transition to Industry 4.0. Expanding its industrial-edge applications will also help leverage the GPU capability of the Nokia MXI, allowing enterprises to connect, collect, and analyze data of operational technology (OT) assets on an on-premises edge.


Market Segments


The market is segmented into technologies, applications, verticals, and regions. The technology segment comprises AR, AI, IoT & industrial IoT (IIoT) platforms, cloud computing, advanced human interactive machine (HIM) interface, big data, location detection technology, data analytics, data fabrication/3D printing, robotics, smart sensors, and others (smart & connected handheld devices, smartphones, etc.). 


The industrial IoT segment holds the largest share of the Industry 4.0 market revenue. Industrial equipment producers are increasingly implementing IIoT to leverage its potential benefits, such as the ability to determine the state of machines, improve their performance, and identify possible breakdowns while planning maintenance programs by connecting industrial equipment.


The application segment s smart factory, industrial automation, and others. The vertical segment s mining, metals, food & beverages, chemical industry, oil & gas refinery, pharmaceuticals, industrial manufacturing, aerospace, construction, defense, electronics, automotive, transportation, and others. Industrial manufacturing is the largest segment in the Industry 4.0 market, witnessing the increasing digitization in the automotive, transportation, and chemical industries. 


Over the past few years, research and development funds have been increasing continually to improve manufacturing techniques and integrated systems, enabling humans and robots to collaborate via sensor-connected human-machine interfaces. Also, the increasing implementation of intelligent robots and machinery in industrial sectors worldwide substantiates the segment’s growth. The region segment is sub-segmented into Europe, the Americas, Asia-Pacific, and the Rest-of-the-World.


Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Industry 4.0 Market Research Report


Geographical Analysis


North America and Europe are major markets for Industry 4.0, witnessing the growing demand and early adoption of innovative technologies. Also, the rising penetration of smart devices and automation in growing numbers of enterprises boosts the region's Industry 4.0 market share. The strong presence of leading technology providers and futuristic technology development centers in these regions fosters the Industry 4.0 market size. 


The Asia-Pacific region is becoming a promising market for Industry 4.0. The adoption of smart manufacturing and robotics has dramatically increased in manufacturing sectors across China, Japan, and India. Besides, the growing digitalization and rising adoption of cloud computing explain the growing industry 4.0 market landscape in recent years. The APAC Industry 4.0 market will likely register the fastest CAGR from 2022 to 2030. 


Competitive Analysis


The Industry 4.0 market appears highly competitive, with many notable players forming a competitive landscape. Innovation, mergers & acquisitions, and expansion are key trends these players follow to gain a larger competitive share. They make substantial R&D investments in developing new technologies and cost-effective portfolios. They also invest in expanding global footprints and gaining diverse expertise. 


On Aug. 3, 2023, Rockwell Automation, a leading global industrial automation, and digital transformation company, hosted its first ROKLive Jakarta event. Earlier this year, the company hosted the ROKLive event in Ho Chi Minh City, Vietnam. The event focuses on manufacturing success for Indonesia's key industries, such as food & beverage, consumer packaged goods (CPG), mining, oil & gas, life sciences, water & wastewater, and automotive & tire.


Active Industry 4.0 market participants are MaschinenfabrikReinhausen GmbH (Germany), SAS (US), Bosch Rexroth AG (Germany), General Electric Company (US), Daimler AG (Germany), Klockner & Co. SE (Germany), Wittenstein AG (Germany), Festo AG & Co. KG (Germany), Siemens AG (Germany), and TRUMPF GmbH (Germany), among others.

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