Industry 4.0 Global Market Report 2024

Industry 4.0 denotes intelligent and interconnected production systems designed to perceive, anticipate, and interact with the physical world, enabling real-time decision-making to support production. This concept is instrumental in creating intelligent factories and facilitating smart manufacturing.

The primary categories of Industry 4.0 technologies include industrial robots, blockchain, industrial sensors, industrial 3D printing, machine vision, human-machine interface (HMI), artificial intelligence in manufacturing, digital twin, automatic guided vehicles (AGV), and machine condition monitoring. Industrial robots are mechanical machines engineered to automate production-related tasks in industrial settings. These technologies encompass solutions and services tailored for both small and medium enterprises as well as large enterprises. The end-users of Industry 4.0 technologies span various industries, including manufacturing, automotive, oil and gas, energy and utilities, electronics and foundry, food and beverage, aerospace and defense, among others.

The industry 4.0 market research report is one of a series of new reports from The Business Research Company that provides industry 4.0 market statistics, including industry 4.0 industry global market size, regional shares, competitors with an industry 4.0 market share, detailed industry 4.0 market segments, market trends and opportunities, and any further data you may need to thrive in the industry 4.0 industry. This industry 4.0 market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The industry 4.0 market size has grown exponentially in recent years. It will grow from $167.12 billion in 2023 to $200.77 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The expansion observed in the historical period can be credited to progress in connectivity, automation and robotics, the adoption of big data and analytics, the uptake of cloud computing, and the implementation of cyber-physical systems (CPS).

The industry 4.0 market size is expected to see rapid growth in the next few years. It will grow to $413.22 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The anticipated growth in the forecast period can be ascribed to the expansion of AI and machine learning, the integration of advanced robotics, the impact of 5G technology, the application of blockchain in the supply chain, and advancements in edge computing. Key trends projected for the forecast period encompass the establishment of smart factories, the implementation of digital twins, collaboration between humans and machines, an emphasis on cybersecurity, and the adoption of remote operations and monitoring.

The industry 4.0 market is anticipated to experience growth due to the rising adoption of industrial robots. Industrial robots, which are mechanical machines designed for automated production tasks in industrial settings, leverage industry 4.0 by integrating advanced technologies such as automation, IoT, and artificial intelligence. This integration enables intelligent, autonomous, and interconnected robotic systems, enhancing productivity, adaptability, and efficiency in production operations. For example, in June 2023, the International Federation of Robotics reported an expected installation of 72,000 industrial robot units in 2022 in the European Union, marking a 6% year-on-year increase from 67,000 units in 2021. The increased adoption of industrial robots is thus a driving force in the industry 4.0 market.

The industry 4.0 market is expected to grow due to the escalating adoption of cloud technology. Cloud adoption involves the migration of computing infrastructure, data, applications, and services from on-premises environments to cloud-based solutions. This adoption is pivotal in enabling Industry 4.0, providing the necessary infrastructure and tools for manufacturers to undergo digital transformation, improve efficiency, and maintain competitiveness in a connected and data-driven industrial landscape. As an illustration, a December 2021 survey by O'Reilly Media Inc. revealed that 90% of 2,834 global respondents have already implemented cloud-based applications in their organizations. Looking ahead, 48% of respondents plan to transition over half of their applications to the cloud within the next year, with 20% aiming for a complete migration to cloud-based solutions. The increasing adoption of cloud technology is therefore a significant driver of growth in the industry 4.0 market.

Technological innovation is emerging as a prominent trend in the industry 4.0 market, with companies strategically incorporating innovations to maintain their market position. For example, in August 2022, Unbox Robotics, an Indian robotic technology company, introduced UnboxSort, a pioneering vertical robotic sortation solution. This industry 4.0 plug-and-play robotics system, driven by Swarm Intelligence, utilizes Autonomous Mobile Robots (AMRs) to efficiently sort parcels vertically into smart racks within limited spaces at e-commerce fulfillment centers and warehouses, enabling merchants to scale up logistics for high parcel volumes.

Major industry players are also launching new products to enhance profitability, such as IoT controllers in the field of Industry 4.0. An IoT controller in this context serves as a device or system responsible for managing and coordinating connected devices, sensors, and machines within smart industrial environments. For instance, in May 2023, NOVUS Automation, a Brazil-based manufacturer specializing in data solutions and process control, unveiled the N20K48 IoT controller. Featuring a robust core controller and expandable micromodules, including a Wi-Fi micromodule for enhanced Industry 4.0 integration, the N20K48 facilitates seamless communication, legacy device incorporation, and centralized data management on a single network. This innovation streamlines real-time monitoring and issue identification in production, showcasing NOVUS Automation's commitment to delivering cutting-edge instruments for control, data acquisition, and SCADA systems.

In November 2022, Lear Corporation, a US-based automotive technology company, acquired InTouch Automation Inc. for an undisclosed amount. This acquisition strengthens Lear's capabilities in automation and manufacturing flexibility. InTouch Automation's product line aligns with Lear's Industry 4.0 strategy, focusing on deploying technology to automate the validation and testing of components and finished seats. InTouch Automation Inc., based in the US, is a provider of automated testing equipment and Industry 4.0 technologies.

Major companies operating in the industry 4.0 market report are Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., NVIDIA Corporation, Emerson Electric Co, Rockwell Automation Inc., Omron Corporation, Bosch Rexroth AG, Fanuc Corporation, Dassault Systemes SE, Daifuku Co Ltd., KUKA AG, Advantech Co Ltd., PTC Inc., Cognex Corporation, Stratasys Ltd., 3D Systems Inc., John Bean Technologies Corporation, Universal Robots A/S, Basler AG, Techman Robot Inc., Addverb Technologies Limited, Algolux, AIBrain Inc., Beckhoff Automation Pvt. Ltd.

Europe was the largest region in the industry 4.0 market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industry 4.0 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the industry 4.0 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The industry 4.0 market consists of revenues earned by entities by providing services such as implementation and integration, support and maintenance, and consulting and training. The market value includes the value of related goods sold by the service provider or included within the service offering. The industry 4.0 market also includes sales of hardware, software, and industrial automation solutions. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Industry 4.0 Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on industry 4.0 market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for industry 4.0 ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industry 4.0 market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Technology: Industrial Robots; Blockchain; Industrial Sensors; Industrial 3D Printing; Machine Vision; Human Machine Interface (HMI); Artificial Intelligence In Manufacturing; Digital Twin; Automatic Guided Vehicles (AGV); Machine Condition Monitoring
• 2) By Component: Solution; Services
• 3) By Enterprise Size: Small And Medium Enterprises; Large Enterprise
• 4) By End-User: Manufacturing; Automotive; Oil And Gas; Energy And Utilities; Electronics And Foundry; Food And Beverage; Aerospace & Defense; Other End-Users
• Companies Mentioned: Siemens AG; General Electric Company; Intel Corporation; International Business Machines Corporation; Cisco Systems Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.