Industry 4.0 Market By Technology Type (Industry Automation, 3D Printing, Digital Twin, Artificial Intelligence (AI) and Machine Learning (ML), BlockChain, Extended Reality (XR), Industrial Internet of Things (IIoT), Others), By End User (Manufacturing, Automotive, Oil and Gas, Energy and Utilities, Food and Beverages, Aerospace and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Industry 4.0 is transforming how businesses produce, enhance, and disseminate their goods. The Internet of Things (IoT), cloud computing, analytics, AI, and machine learning are among the cutting-edge technologies that manufacturers are incorporating into their manufacturing processes. Advanced sensors, embedded software, and robotics are all featured in these smart factories, which gather and analyze data to help with decision-making. When operational data from ERP, supply chain, customer support, and other enterprise systems is combined with data from production operations, even greater value from previously archived information is produced. Moreover, a significant amount of demand is anticipated for the industry 4.0 market as a result of the rise in adoption of automated tools and equipment in factories, warehouses, and manufacturing facilities, as well as increased investment in additive manufacturing and the emergence of new digital technologies like 5G, loT, AI, and ML.
Furthermore, factors such as rise in adoption of industrial robots and increase in deployment of additive manufacturing primarily drive the growth of the industry 4.0 market. However, expensive deployment costs of industrial robots and complications in integration and interoperability of Industrial robot hamper the market growth to some extent. Moreover, an increase in adoption of 5G in the field of cloud automation is expected to provide lucrative opportunities for the market growth during the forecast period.
Depending on the technology type, the industry automation segment dominated the industry 4.0 market share in 2021 and is expected to continue this dominance during the forecast period, owing to essential elements of Industry 4.0 to detect, measure, analyze, and process various transitions in industrial production facilities, such as changes in positions, length, height, exterior, and dislocations. However, the blockchain segment is expected to witness the highest growth in the upcoming years, owing to enhanced security, privacy, and data openness. Moreover, blockchain technology is widely recognized to benefit the supply chain and manufacturing environments.
Region wise, the industry 4.0 market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to to ongoing technical breakthroughs, financial assistance from regional governments, and initiatives to achieve real-time quality control and real-time visibility across the manufacturing sector. The U.S. has a sizable industrial base and several businesses with high production capacities; hence it is anticipated to dominate the North America industry 4.0 market. However, Asia-Pacific is expected to witness the highest growth in the upcoming years, owing to the analytics, automation, and machine-learning algorithms that have released human operators from performing a significant percentage of the detailed work. Moreover, Artificial intelligence and machine learning can generate insights that give business operations visibility, predictability, and automation.
Segment reviewThe industry 4.0 market is segmented on the basis of technology, end user, and region. On the basis of technology, it is segregated into industry automation, 3D printing, digital twin, artificial intelligence (AI) and machine learning (ML), blockchain, extended reality (XR), industrial internet of things (IIoT), others. On the basis of end user, it is divided into manufacturing, automotive, oil and gas, energy and utilities, food and beverages, aerospace and defense, others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global industry 4.0 market is dominated by key players such as Cognex Corporation, Schneider Electric SE, Emerson Electric Co., Rockwell Automation Inc., Cisco Systems Inc., ABB Ltd., Siemens AG, Honeywell International Inc., General Electric Company, International Business Machines Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industry 4.0 market analysis from 2021 to 2031 to identify the prevailing industry 4.0 market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the industry 4.0 market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global industry 4.0 market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Technology TypeIndustry Automation
3D Printing
Digital Twin
Artificial Intelligence (AI) and Machine Learning (ML)
BlockChain
Extended Reality (XR)
Industrial Internet of Things (IIoT)
Others
By End UserManufacturing
Automotive
Oil and Gas
Energy and Utilities
Food and Beverages
Aerospace and Defense
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Cognex Corporation
Schneider Electric SE
Emerson Electric Co.,
Rockwell Automation Inc.
Cisco Systems Inc.
ABB Ltd.
Siemens AG
Honeywell International Inc.
General Electric Company
International Business Machines Corporation
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