The global industry 4.0 market is projected to reach a market size of USD 240.55 Billion by 2027 at a rapid and steady CAGR over the forecast period, according to most recent analysis by Emergen Research. Projected steady growth of the global industry 4.0 market can be attributed to growing emphasis on production efficiency and reducing operation cost. Industry 4.0 enables increased operational efficiency and self-managing production methods, thus enabling humans, equipment, machines, and logistics and supply chain management systems to be interconnected and collaborate. Information and communication technology, which is an integral part of industry 4.0, uses multiple network components and communication protocols for centralized machine supervision and semi-automated/automated decision making, resulting in decreased downtime. Also, industry 4.0 allows for automatic process tracking and tracing and faster batch changeovers leading to improved productivity.
The Global industry 4.0 Market Research Report added by Emergen Research to its expanding repository is an all-inclusive document containing insightful data about the industry 4.0 market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the industry 4.0 industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2027. The report assesses the historical data and current scenario to offer accurate estimations of the industry 4.0 market in the coming years.
Industry 4.0 Market’s Potential is Expanded by Technological Revolution in Most Industries
The fourth industrial revolution, known as Industry 4.0, focuses on connectivity, automation, machine learning, and real-time data. It is also known as smart production combined with smart digital technology or the Internet of Things (IoT). Additionally, it makes use of machine learning and big data to create a more integrated and linked ecosystem for companies that focus on manufacturing and SCM. Accessing real-time information across processes, partners, products, and people can present a barrier for several firms from various industries. IoT measurements and key performance indicators that show operational improvement, consumer experience, logistics, and supply chain profits are currently being adopted by a number of significant enterprises.
Many companies are investing in cutting-edge technology like human-machine interaction, analytics, sophisticated engineering, connectivity, data, and processing power to improve production efficiency and save costs by reducing production downtime. Businesses can estimate and anticipate any problems that could develop with continuing operations thanks to Industry 4.0 technologies. Preventive maintenance is typically performed manually according to schedule or time. But with the development of IoT, preventive maintenance has become much more simplified and automated. Systems are able to predict problems before they occur or determine whether machinery needs to be repaired, which enables firms to address possible problems before they escalate.
Key Highlights of Report:
- In September 2019, the Factory Automation EMEA division of Mitsubishi Electric entered into a partnership with software developer ‘CONTACT’, to provide customized smart manufacturing solutions using digital twin technology.
- The Industrial Internet of Things (IIoT) uses smart sensors and actuators for improvement of industrial and manufacturing processes. The key advantage of IIoT is that it enables automation of production processes and thus optimizes operating efficiency. According to a study, automation results using IIoT indicate around 30.0% increase in productivity.
- Industry 4.0 in the pharmaceutical sector helps in the improvement of product quality and productivity, thereby resulting in increased profitability. Also, industry 4.0 makes pharmaceutical production more well-organized and safer. Pharma 4.0, based on industry 4.0, enables systematic automated processes to run by a unified manufacturing control strategy.
- The industry 4.0 market in the Asia Pacific dominated other regional markets in terms of revenue share contribution to the global market in 2019. This high revenue growth can be attributed to robust presence of leading manufacturing companies in countries such as Japan, China, and South Korea. Also, increasing use of IoT, robotics, AI, and additive manufacturing in industries in the region are among other factors driving market growth.
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The report also studies the key companies of the industry 4.0 market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Some players analyzed in the report are:
General Electric Company, Mitsubishi Electric Corporation, Cisco Systems Inc., ABB, KUKA, Stratasys Ltd., IBM Corporation, FANUC, Yaskawa Electric Corporation, and Siemens AG.
The report further divides the industry 4.0 market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the industry 4.0 market.
Emergen Research has segmented the global industry 4.0 market in terms of technology, industry vertical, and region:
Technology Outlook (Revenue, USD Million; 2017–2027)
- Artificial Intelligence
- Internet of Things
- 3D Printing
- Augmented Reality
- Virtual Reality
- Blockchain
- Industrial Robotics
- Digital Twin
- Industrial Metrology
- Others
Industry Vertical Outlook (Revenue, USD Million; 2017–2027)
- Manufacturing
- Energy & Utilities
- Chemical
- Transportation
- Pharmaceutical
- Metals
- Consumer Electronics
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides a comprehensive analysis of the factors that are likely to bolster or impede the growth of the market in the coming years. The report considers the COVID-19 pandemic that is currently unfolding as a key market influencer. The report provides a thorough estimation of the overall impact of the pandemic on the industry 4.0 market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the industry 4.0 market.
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the industry 4.0 market?
What are the key product types and applications of the industry 4.0 industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the industry 4.0 market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the industry 4.0 Market by 2027?
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