Who are the key vendors in the Global Industry 4.0 Market?

The global industry 4.0 market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Siemens AG', 'ABB Ltd.', 'Cisco Systems Inc.', ' General Electric(US) ', ' Honeywell International (US) ', ' Emerson Electric (US) ', ' 3D Systems (US) ', ' Advantech (Taiwan) ', ' Basler (Germany) ', ' Cognex Corporation (US) ', ' Daifuku (Japan) ', ' IBM (US) ', ' Intel (US) ', ' John Bean Technologies Corporation (US) ', ' Nvidia (US) ', ' Stratasys (Israel) ', ' Techman Robot (Taiwan) ', ' Universal Robots (Denmark) ', ' Addverb Technologies (India) ', ' AlBrain (US) ', ' In October 2023, Epson Robots introduced a new generation of its high-power-density SCARA robots, the GX-B Series powered by the RC700E controller with integrated SafeSense technology. These second-generation robots use the advanced GYROPLUS vibration reduction technology to provide some of the fastest production speeds, smooth motion control, and fast settling times. ', ' In June 2023, ABB Robotics is expanding its large robot offering with 4 new models and 22 variants, these next generation model series include the IRB 6710, IRB 6720, IRB 6730 and IRB 6740, suitable for payloads ranging from 150kg to 310kg, with a reach from 2.5m to 3.2m, offering customers greater choice and significant performance and energy efficiency improvements. '

What is the key driver of Global Industry 4.0 Market?

3D printing and additive manufacturing are two of today's most cutting-edge technologies. In recent years, 3D printing has been widely employed to meet the massive increase in demand for ventilator valves in hospitals around the world. Currently, 3D printing technology is positioned to alter a number of industrial industry trends. Globally, governments are launching projects and offering financing to educational institutions, research centers, and research and technology organizations to further investigate and stimulate the development of 3D printing technology. The United States, the United Kingdom, and Canada are developing government initiatives to encourage university-level 3D printing research, which is propelling technological innovation and the establishment of start-ups. In the future, the introduction of new uses for 3D printing will entice businessmen and governments all over the world to invest in the technology.

What is the key market trend for Global Industry 4.0 Market?

Digital twins have received a lot of attention as the Internet of Things (IoT) has risen in popularity in recent years. A virtual model that mimics the lifecycle of a physical entity or mechanism is known as a digital twin. By offering near real-time insights between the physical and digital worlds, this technology has enabled OEM manufacturers and automakers to remotely track and manage equipment and systems. Digital twin technology delivers unmatched insight into assets and production to identify bottlenecks, improve operations, and create product growth. Companies are implementing digital twin technology, which can detect anomalies and irregularities in operations quickly and provide a comprehensive perspective of the equipment's performance. Spare component maintenance and replacement can be planned in advance to reduce time-to-service and avoid costly asset breakdowns. Predictive maintenance using digital twins would assist OEMs in generating new service-based revenue while enhancing product reliability. Additionally, market players are introducing innovative digital twin solutions that improve equipment visibility and operational efficiency.

Which region accounted for the largest share in Global Industry 4.0 Market?

North American corporations are increasingly adopting the notion of smart manufacturing, and the region is expected to dominate the market. The majority of factories in the market are now outfitted with new machinery and smart factory technology, allowing other enterprises to shift from traditional production processes to smart manufacturing. Major market players, government efforts, and increased financing for research and development activities are all important aspects that contribute to North America being a dynamic place for market growth.

Industry 4.0 Market Size, Share, Growth Analysis, By Technology Type(Industrial Internet of Things (IIoT), Blockchain, Extended Reality, Artificial Intelligence & Machine Learning), By End User(Aerospace And Defense, IT & telecom, Government, Automotive), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Industry 4.0 Market?

Global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).

Report ID: SQMIG45D2056 | Region: Global | Published Date: October, 2024
Pages: 242 | Tables: 70 | Figures: 77

Industry 4.0 Market Insights

Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).

Integration of advanced digital technologies in industrial processes and activities to enhance efficiency and productivity is termed as Industry 4.0. this is the fourth iteration of industrial revolution focusing on digitization of the industrial sector. Rapid adoption of Internet of Things (IoT) and artificial intelligence (AI) technologies in the industrial space is setting the tone for lucrative Industry 4.0 market growth. Rising investments in the development of smart factories and adoption of automation are also expected to bolster the demand for novel Industry 4.0 solutions and services in the future. Advancements in digital twin and robotic technologies will also create new opportunities for Industry 4.0 market going forward. However, challenges in integration with legacy infrastructure, high costs, and dearth of skilled professionals are estimated to be the key constraints for Industry 4.0 companies in the long run.

Industry 4.0 Market Report Snapshots

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The global Industry 4.0 market is rife with opportunities and innovation will be the key to cashing in these opportunities. Collaborations and partnerships are also expected to be highly popular strategies among Industry 4.0 companies as they look to expand their business. Combining two or more technologies to create a better Industry 4.0 solution will also be a popular trend among Industry 4.0 providers going forward. 'Siemens AG', 'ABB Ltd.', 'Cisco Systems Inc.', 'General Electric (US)', 'Honeywell International (US)', 'Emerson Electric (US)', '3D Systems (US)', 'Advantech (Taiwan)', 'Basler (Germany)', 'Cognex Corporation (US)', 'Daifuku (Japan)', 'IBM (US)', 'Intel (US)', 'John Bean Technologies Corporation (US)', 'Nvidia (US)', 'Stratasys (Israel)', 'Techman Robot (Taiwan)', 'Universal Robots (Denmark)', 'Addverb Technologies (India)', 'AlBrain (US)'

Industries and organizations around the world are focusing on maximizing their profit by improving productivity and efficiency. Industry 4.0 emerges as a preferred way of achieving this thereby driving market growth as well. Industry 4.0 technologies prove their mettle in improving productivity whilst maximizing profit margins as well.

Incorporation of Sustainability: Industry 4.0 companies should focus on incorporating sustainability in their operations to maximize business scope going forward. Industry 4.0 technologies that help build a better world will be popular in the future and companies need to hop on to the sustainability bandwagon to expand their revenue generation potential through 2031 and beyond.

The Asia Pacific region is estimated to hold sway over global Industry 4.0 demand. Presence of a robust industrial infrastructure and launch of several new digital transformation initiatives are primarily boosting Industry 4.0 market growth in this region. Increasing labor costs and incentivization for automation through governments is also acting in favor of Industry 4.0 companies in this region. Japan, China, India, and South Korea are the top markets for Industry 4.0 providers to target in the long run.

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Industry 4.0 Market Size, Share, Growth Analysis, By Technology Type(Industrial Internet of Things (IIoT), Blockchain, Extended Reality, Artificial Intelligence & Machine Learning), By End User(Aerospace And Defense, IT & telecom, Government, Automotive), By Region - Industry Forecast 2024-2031

Industry 4.0 Market Insights

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What is the global market size of Industry 4.0 Market?

Who are the key vendors in the Industry 4.0 Market?

What is the key driver of Industry 4.0 Market?

What is the key market trend for Industry 4.0 Market?

Which region accounted for the largest share in Industry 4.0 Market?

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