USD 133.05 billion
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 2025-2032
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 154.6 Billion in 2023 and is poised to grow from USD 179.65 Billion in 2024 to USD 597.14 Billion by 2032, growing at a CAGR of 16.2% during the forecast period (2025-2032).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Internet of Things
Fastest Growth
Advanced Robotics
Growth Rate
16.2% CAGR
Global Industry 4.0 Market ($ Bn)
Country Share for North America Region (%)
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Industry 4.0 Market Segmental Analysis
The global Industry 4.0 market is segmented into technology type, end user, and Region. Based on technology type, the market is segmented into industrial internet of things (IIoT), blockchain, extended reality, artificial intelligence & machine learning, 3D printing, digital twin, robots, and others. Based on end user, the market is further sub-segmented into aerospace and defense, IT & telecom, government, banking, financial services, & insurance (BFSI), healthcare, retail, automotive, manufacturing, energy & utilities and others. Based on Region, North America, Europe, Latin America, Asia-Pacific, Middle East and Africa.
Industry 4.0 Market Analysis by Technology Type
Industrial internet of things (IIoT) is projected to hold a prominent share of the global Industry 4.0 market going forward. Advancements in connectivity technologies and rising availability of novel IIoT devices and solutions are contributing to the dominance of this segment. Moreover, IIoT devices are also elemental in enabling other Industry 4.0 technologies in industrials settings, which also makes this a highly rewarding segment.
Meanwhile, the demand for digital twin technology is projected to increase at an impressive CAGR across the study period. Easy integration of digital twin technology with IoT devices and growing demand for process optimization are key factors helping this segment boost market growth. Rapid prototyping and easy simulation are some key benefits of digital twin technology that are making it highly coveted among Industry 4.0 adopters.
Industry 4.0 Market Analysis by End User
Manufacturing industries are projected to spearhead Industry 4.0 demand outlook across the study period. The rising use of additive manufacturing and smart manufacturing practices is slated to majorly contribute to the high market share of this segment. Moreover, high investments in the digitization of manufacturing facilities will also help its dominance in the long run. Robotics will be a crucial part of Industry 4.0 adoption in the manufacturing industry.
On the other hand, the demand for Industry 4.0 in the automotive industry is slated to increase at a notable pace over the coming years. Growing demand for lightweight and complex automotive components and high emphasis on enhancing productivity are key trends that will boost Industry 4.0 market growth via this segment.
Global Industry 4.0 Market By Industry
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Industry 4.0 Market Regional Insights
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.
Meanwhile, the demand for Industry 4.0 in North America is predicted to rise at a stellar pace over the coming years. Presence of key technology companies, entrepreneurial environment, and growing establishment of smart factories are some key factors that help market growth in this region. The United States is slated to remain the most opportune space for Industry 4.0 companies looking to boost their business in this region.
Global Industry 4.0 Market By Geography
- Largest
- Fastest
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Industry 4.0 Market Dynamics
Industry 4.0 Market Drivers
Emphasis on Efficiency and Productivity
- 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.
Advancements in Industry 4.0 Technologies
- In an increasingly digital world, advancements in technologies have become a norm. From artificial intelligence to digital twins, almost all industry 4.0 technologies are witnessing rapid advancements, and this is also expected to benefit Industry 4.0 market development in the future.
Industry 4.0 Market Restraints
High Initial Investments
- Integrating Industry 4.0 solutions with existing infrastructure requires substantial investments to procure and deploy advanced technologies. Most companies are not willing to fork out this amount and thereby impede market growth potential.
Dearth of Skilled Professionals
- Skilled professionals who can manage and deal with Industry 4.0 technologies and trends are not widely available and this scarcity is projected to hamper Industry 4.0 adoption over the coming years.
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Industry 4.0 Market Competitive Landscape
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.
Industry 4.0 Market Top Player’s Company Profiles
- 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)
Industry 4.0 Market Recent Developments
- In October 2023, Siemens, a leading industrial automation provider partnered up with DMG Mori to advance the Industry 4.0 market. The collaboration was marked by the launch of a new digital twin for machine processing by Siemens.
- In July 2024, an agreement to establish an Industry 4.0 training center was signed by the EuroMed University of Fez (UEMF) and the Investment Facility for Employment (IFE). This move will help resolve the issue of skill gaps in industry 4.0 adoption in the Morocco region.
- In February 2024, a new wireless connectivity software for Industry 4.0 use was launched. Radisys Corporation was behind this launch and intended to improve 5G accessibility across Industry 4.0 and private 5G networks.
Industry 4.0 Key Market Trends
- 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.
Industry 4.0 Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapidly increasing digitization of the industrial sector and advancements in technologies are paving the way for lucrative Industry 4.0 market growth. However, dearth of skilled professionals, high initial investments, and complexity in integration are slated to be key constraints for Industry 4.0 demand in the future. Asia Pacific region is slated to hold a prominent chunk of the global Industry 4.0 market share owing to high demand for automation in industries. Digital twin technology will be highly sought-after across the study period and beyond. Incorporation of sustainability will be a major trend for Industry 4.0 companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 133.05 billion |
| Market size value in 2031 | USD 513.89 billion |
| Growth Rate | 16.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industry 4.0 Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industry 4.0 Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industry 4.0 Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industry 4.0 Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industry 4.0 Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industry 4.0 Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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