The “Industry 4.0 – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Industry 4.0 Market to Reach $219.8 Billion by 2026
The global market for Industry 4.0 estimated at US$90.6 Billion in the year 2020, is projected to reach a revised size of US$219.8 Billion by 2026, growing at a CAGR of 16.5% over the analysis period.
Internet of Things, one of the segments analyzed in the report, is projected to record a 17.3% CAGR and reach US$68.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial Robotics segment is readjusted to a revised 18.7% CAGR for the next 7-year period.
i4.0 is a concept in which manufacturing facilities are fitted with state-of-the-art sensors and wireless technologies which visualize and display the entire manufacturing process. These sensors and wireless technologies are integrated with various technologies, including artificial intelligence (AI), the IoT, machine learning and cloud computing.
The integrated use of these technologies by an i4.0-enabled manufacturing environment enables the manufacturers to make well informed business decisions and improve their production efficiency. By optimizing technology and material usage, as well as asset performance, an i4.0-enabled manufacturing environment enhances the profitability of businesses.
The growth of the market is being propelled by the increasing awareness among businesses of the several advantages that these technologies offer.
Other factors spurring the projected growth within the worldwide market for i4.0 technologies include the increasing implementation of the Industrial Internet of Things (IIoT); the increasing demand for efficient and cost effective manufacturing processes from a wide range of industries; and the significant increase in the demand for automation systems for enhancing the quality of finished goods. Additional factors powering the market`s growth include innovations and technological advancements in additive printing technology; and advancements in smart sensing technologies and controls.
Additionally, the increasing trend of automating manufacturing facilities, together with the increasing demand for energy-efficient machinery and processes, together with the IoT-enabled sensors` integrated computing capabilities, are also projected to fuel the growth of the worldwide market for i4.0 technologies.
Furthermore, IoT sensors, smart devices, and data collection are leveraged by i4.0-based systems for improving operational efficiency, a factor that is also expected to provide significant opportunities for growth of the worldwide i4.0 market. In the coming 10 years, businesses would set-up global networks incorporating their production facilities, machinery and warehousing systems as cyber-physical systems.
Such systems, in the production environment, consist of storage systems, production facilities, and smart machines that could exchange information autonomously, and exercise independent control over each other. These changes provide huge opportunities for optimization of manufacturing and production processes. On the flip side, such changes put manufacturers under conventional business pressure
The U.S. Market is Estimated at $25.5 Billion in 2021, While China is Forecast to Reach $40.9 Billion by 2026
The Industry 4.0 market in the U.S. is estimated at US$25.5 Billion in the year 2021. China, the world’s second largest economy, is forecast to reach a projected market size of US$40.9 Billion by the year 2026 trailing a CAGR of 20.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.7% and 14.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Impact on Industry 4.0
- Industry 4.0 Concepts
- Vital Lessons for Manufacturing Industry during Pandemic Crisis
- Industry 4.0 in Pre-COVID-19 Period
- Industry 4.0 in Post COVID-19 Period
- Impact of Technology on Transformation of Industries
- An Introduction to Industry 4.0
- History of Industry 4.0
- Key Industry 4.0 Technologies
- Horizontal and Vertical Integration in Industry 4.0
- Current Stage of Industry 4.0 Adoption
- Benefits and Advantages of Industry 4.0
- Key Risks and Challenges of Industry 4.0
- Industry 4.0: Prospects & Outlook
- Analysis by Technology
- Vertical-based Analysis
- Competitive Landscape
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 310 Featured)
- 3D Systems, Inc.
- ABB Group
- Alphabet, Inc.
- Arcadia Data, Inc.
- Cisco Systems, Inc.
- Denso Corporation
- General Electric Company
- General Vision
- Hewlett Packard Enterprise Development LP (HPE)
- IBM Corporation
- Intel Corporation
- MAXST Co., Ltd.
- Microsoft Corporation
- Mitsubishi Electric Corporation
- NGRAIN Corporation
- Qualcomm, Inc.
- Rethink Robotics, Inc.
- Rockwell Automation, Inc.
- Samsung Electronics Co., Ltd.
- Siemens AG
- Stratasys Ltd.
- Texas Instruments, Inc.
- XJet Ltd.
3. MARKET TRENDS & DRIVERS
- The Ever Growing IoT Ecosystem, A Cornerstone for Growth
- Increasing Number of Connected Devices and Growth of IoT Adoption in Industrial Control Systems Enhance Need for Effective Cybersecurity Solutions
- HMI Technologies Take Center Stage in Industrial Automation Ecosystem
- Evolution of IoT Drives Robust Innovation in HMI Technology
- Industrial Robotics Market Recording Strong Growth
- Growing Automation Rapidly Changing Manufacturing Sector Landscape
- 3D Printing: A High Growth Market
- Industry 4.0 Trends Impacting the Manufacturing Processes
- IT/OT Convergence Brings Forth Cybersecurity Gaps in Manufacturing Industry
- Chemical Processing Industry at High Risk of Cyber Crimes, Driving Need for Security Solutions
- With Transportation Systems Worldwide Facing High Risk of Cyberattacks, the Need for Effective Cybersecurity Solutions Grows
- Rising Risk of Cyber Threats in Auto Industry: An Opportunity for IoT Solutions
- Amidst Rapidly Changing and Evolving Cyber Threats, Energy Sector Adopts Advanced Solutions to Enhance Security
- As a Prime Target for Cyber Criminals, Power Sector Witnesses High Demand for Cybersecurity Solutions
- Threat of Cyberattacks on the US Electric Power Sector: Assessing the Impact of Attacks by Various Actors for Power Utilities
- Evolution of Cyberattacks on Industrial Control Systems in Power Sector: A Historical Timeline
- Shift towards Smart Factories and the Potential Risk of Cyberattacks Fuels Importance of Cybersecurity for Intelligent Factories
- Challenges Facing the Industry 4.0 Market
- Challenges Commonly Confronted by Manufacturers and Measures to Develop More Cyber Resilient Networks
- Challenges Confronting Implementation of Industry 4.0
- Challenges Posed by Continuously Evolving Technology Environment
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.