Industry 4.0 Market Research Report - Forecast 2027

Industry 4.0 Market, By Technology (Cloud computing, IoT platforms, Big data Analytics, Smart sensors), By Application (Industrial Automation, Smart Factory, Industrial IoT)), By End-User (Industrial manufacturing, Oil & gas, Construction, Electronics, Automotive, Chemical) - Forecast 2027

ID: MRFR/SEM/1752-HCR | February 2021 | Region: Global | 100 pages

Industry 4.0 Market Overview:


Industry 4.0 Market is expected to generate a revenue of more than 12.3 billion US dollars by 2022. The Industry 4.0 Market is expected to register a CAGR of more than 20.71% by the year 2022.


The fourth Industrial revolution termed ‘Industry 4.0’ is stated as the digital and automotive rise in technology. The advancement in technology by combing all the major innovations and aspects of the available infrastructure is the ‘Industry 4.0’. Artificial Intelligence, deep learning, The Internet of Things, robotics, cloud computing, sensors, data analysis, data capturing, software-as-a-service, digital fabrication, etc. all are included in the technologies that can be collectively joined to form Industry 4.0. Smartphones, smart handheld devices, other mobile devices, smart laptops, and computers, etc. serve are the hardware to the Industry 4.0 Market. Artificial Intelligence, automation, self-optimization, and self-configuration are to be achieved by the models built on Industry 4.0.


Industry 4.0 deals with continuous connectivity between two devices, interactive algorithms, and conversion of digital data on physical commands. The Industry 4.0 technology is spread and communicated to the core of the organization spread vertically in form of processes. A greater number of companies shifting to cloud computing due to the increase in data volume and the number of devices that can be connected using the Internet of Things have driven the industrial revolution.

COVID-19 Analysis:


The world woke up to the outbreak of the COVID-19 virus in 2019. The virus that was generated from a flea market in Wuhan, China had affected human life to a greater extent. The world came to a standstill in these tough times. Governments around the world had imposed day and night curfews and lockdowns to contain the spread of the virus. The highly communicable virus affected the growth of many industries. Schools, colleges, offices, businesses, etc. all had to be run from home. Continuous availability of Internet and high bandwidth providing networks from different operators made work from home success. Internet of things was the major driver that helped the industrial revolution in the COVID-19 times. The industry 4.0 market has seen growth during the pandemic owing to the growth to cloud computing.


Market Dynamics:



  • Drivers:


The advancement in technology by combing all the major innovations and aspects of the available infrastructure is the ‘Industry 4.0’. Artificial Intelligence, deep learning, The Internet of Things, robotics, cloud computing, sensors, data analysis, data capturing, software-as-a-service, digital fabrication, digitization of product, value chain analysis done for product horizontally and vertically, efficient, faster, and flexible production, etc. all are included in the technologies that can be collectively joined to boost the growth of Industry 4.0. Smartphones, smart handheld devices, other mobile devices, smart laptops, and computers, etc. serve are the hardware advancements that led to the growth of the Industry 4.0 Market. The government actively supporting automation in various industries is also one of the major drivers of the Industry 4.0 market.



  • Challenges:


Cybersecurity risk, hacking, data loss, etc. are a few of the major challenges the Industry 4.0 market suffers. With data at threat over the transfer over the internet, companies avoid the use of cloud-based technology. If the network doesn’t support huge data, communication between machines and humans could be made tough, making the Industrial revolution suffer. Easily hacking smart devices can also hinder the growth of the Industry 4.0 market.



  • Technology Analysis:


The fourth Industrial revolution termed ‘Industry 4.0’ is stated as the digital and automotive rise in technology. The Industry 4.0 technology is spread and communicated to the core of the organization spread vertically in form of processes. Industry 4.0 deals with continuous connectivity between two devices, interactive algorithms, and conversion of digital data on physical commands. Artificial Intelligence, automation, self-optimization, and self-configuration are to be achieved by the models built on Industry 4.0. Artificial Intelligence, deep learning, The Internet of Things, robotics, cloud computing, sensors, data analysis, data capturing, software-as-a-service, digital fabrication, digitization of product, value chain analysis done for product horizontally and vertically, efficient, faster, and flexible production, etc. all are included in the technologies that can be collectively joined to boost the growth of Industry 4.0. Smartphones, smart handheld devices, other mobile devices, smart laptops, and computers, etc. serve are the hardware advancements that led to the growth of the Industry 4.0 Market.


Study Objectives:



  • - Share meaningful insight on the market drivers.

  • - To brief about the market structure, revenue, and CAGR for the forecast period.

  • - Enlist the segments on which the Industry 4.0 Market is distinguished.

  • - To study the regional analysis of the Industry 4.0 market namely, North America, Europe, Asia-Pacific, Middle East, and others.

  • - To share strategic analysis, competitive analysis, strategic alliance, joint ventures, new product developments, merger and acquisition, research and development, and recent developments in the field of study.


Segment Overview:


By Technology:


The global Industry 4.0 market is segmented by technology like Internet of Things platforms, cloud computing, augmented reality, location detection technology, advanced human interactive machine interface, big data, data analytics, smart sensors, data fabrication or 3D printing, robotics, etc. Smartphones, smart handheld devices, other mobile devices, smart laptops, and computers, etc. serve are the hardware to the Industry 4.0 Market.


By Application:


The global Industry 4.0 market is segmented by application in three major zones i.e. Industrial Internet of Things, smart factory, and Industrial Automation.


By Vertical:


The global Industry 4.0 market is segmented by vertical as food and beverages, mining metals, chemical industry, pharmaceuticals, oil, and gas refinery, Industrial manufacturing, construction, aerospace, defense, automotive, electronics, transportation, and many more.


Regional Analysis:


The global Industry 4.0 market is wide-spread over North America, the European region, Asia-Pacific, the Middle East, and the Rest of the World (ROW). As per the market analysis, North America and Europe are the market dominants of Industry 4.0. Smart manufacturing is the major motto of the companies of North America, giving it an edge over the rest of the world. The core benefits of the adoption of Industry 4.0 are cost optimization, reduced downtime, enhanced productivity, operational efficiency attracting companies around the world. Germany and Japan have been considered as the countries with the highest investments in the Industry 4.0 market due to the digitization of internal operation and partnering with different companies to provide a platform easily accessible by partner companies. China has seen a major rise in the Industry 4.0 accounting to automation and cloud-based industry. Asia-Pacific countries are expected to rise and register a higher CAGR in upcoming years due to the adoption of digital integration, digitization, and cloud computing.


Competitive Landscape:


Most of the companies around the world are adapting to new technology, making innovations in product forms, developments in already existing products, etc. to enhance the opportunities leading to a global industrial revolution. The audiences attracted by Industry 4.0 as per market statistics are consultancy firms, research and development departments, Process Instrumentation and automation manufacture, semiconductor product designers, semiconductor product fabricators, robotics, technology investors, software and hardware manufacture, Manufacturing Execution Systems (MES), Manufacturing Operations Management (MOM), and government organizations. The prominent player in the Industry 4.0 leading to the revolution are Bosch Rexroth AG (Germany), SAS (US), MaschinenfabrikReinhausen GmbH (Germany), Wittenstein AG (Germany), Daimler AG (Germany), General Electric Company (US), Siemens AG (Germany), Klockner & Co. SE (Germany), Wittenstein AG (Germany), Festo AG & Co. KG (Germany), TRUMPF GmbH (Germany), and others.


Recent Developments:


- Robotics industry is expected to register more than 3000 thousand units by 2022. Thus, in Feb 2020, Advanced Handling Systems (AHS) partnered with a robotic supplier called Mobile Industrial Robots (Denmark) to increase the use of their product based on certified Systems Integrator.


- In Oct 2020, Sandia National Laboratories often called Sandia signed an agreement with the Intel Federal LLC to estimate the technology that calculated the neuromorphic computing value for computational problems.


- In March 2020, Microsoft Corporation partnered with Cisco Systems for seamless data transfer and orchestration between Azure Internet of Things cloud and Cisco Internet of Things cloud to provide pre-integrated application solutions to problems.


Report Overview:


Industry 4.0 Market Research shares a brief analysis on the market structure, market growth, strategic analysis, competitive analysis, strategic alliance, joint ventures, new product developments, merger and acquisition, research and development, and recent developments in the field of study. It shares a detailed study on the segmentation, drivers leading to the adoption of technology, and challenges faced by the Industry 4.0 Market. The report also briefs about the regions where the market is studied i.e. North America, European region, Asia-Pacific, Middle East, and the Rest of World (ROW).



Frequently Asked Questions (FAQ) :


The various applications of industry 4.0 include industrial automation, smart factory and industrial internet of things (IIOT).

The major technologies of the market include sensors; advanced robotics and artificial intelligence; the Internet of Things; cloud computing; digital fabrication (3D printing); data capture and analytics; software-as-a-service and other new marketing models; smartphones as well as other mobile devices.

Cloud computing technology can note the highest adoption rate in the near future.

The global industry 4.0 market is expected to register substantial growth in the near future, attributed to growth in demand for industrial automation, upsurge in the use of robot technology, and increase in government expenditure on digitalization.

The region-wise segments in the Industry 4.0 market are Asia pacific, Europe, North America, and the Rest of the World (RoW).