Industry 4.0 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Industry 4.0 Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global industry 4.0 market size reached US$ 118.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 350.9 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.

Industry 4.0, also known as the fourth industrial revolution, promotes connected manufacturing and a digital convergence between businesses, industries, and other processes. It offers numerous advantages, including improved efficiency and productivity, better flexibility and agility, and increased profitability. It aids in enhancing automation, manufacturing oversite, machine-to-machine communication, and decision-making. It also assists in the creation of smart factories and enables digital manufacturing. Besides this, it helps automate compliance, including tracking and tracing, quality inspections, serialization, and data logging.

Industry 4.0 Market Trends:
Rapid urbanization and the emerging trend of digitization due to the rising focus of various industries to improve operational efficiency and cost-efficiency represent one of the key factors positively influencing the market. With the launch of the fourth industrial revolution (i4.0), organizations are witnessing low-cost benefits, improved efficiencies, increased output, customized offerings, and the development of new revenue and business models. In addition, various digital technologies and industrial automation advancements are extending the opportunities for industrial value chain disruption. For instance, the rising integration of artificial intelligence (AI) and the internet of things (IoT) technologies is enabling users to optimize industrial processes, conduct quality checks, send early alarms, and predict machine failure. Apart from this, the increasing use of industrial robots in manufacturing hubs results in rapid advancements, development, and evolution, which is propelling the market growth. Furthermore, companies nowadays are incorporating digital twin technology that detects anomalies and irregularities in operations to get a holistic vision of the performance of the equipment. Moreover, increasing investments by leading industry players in extensive research and development (R&D) activities are anticipated to impel the market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industry 4.0 market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology type and end use industry.

Breakup by Component:

Hardware
Software
Services

Breakup by Technology Type:

Industrial Robotics
Industrial IoT
AI and ML
Blockchain
Extended Reality
Digital Twin
3D Printing
Others

Breakup by End Use Industry:

Manufacturing
Automotive
Oil and Gas
Energy and Utilities
Electronics and Foundry
Food and Beverages
Aerospace and Defense
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Cisco Systems Inc., DENSO Corporation, Fanuc Corporation, Hewlett Packard Enterprise Company, Intel Corporation, International Business Machines Corporation, Nvidia Corporation, Robert Bosch GmbH, SAP SE, Schneider Electric SE, Stratasys Ltd., Swisslog Holding AG (Kuka AG) and Techman Robot Inc. (Quanta Storage Inc.).

Key Questions Answered in This Report:
How has the global industry 4.0 market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industry 4.0 market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology type?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industry 4.0 market and who are the key players?
What is the degree of competition in the industry?