A recent report published by Infinium Global Research on industry 4.0 market provides in-depth analysis of segments and sub-segments in the global as well as regional industry 4.0 market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industry 4.0 market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industry 4.0 market.
Industry 4.0 is the new dimension that is touching every industry. Industry 4.0 consists of multiple aspects such as the industrial Internet of things, Artificial Intelligence, Machine Learning, Big Data analytics, smart sensors, robotics, and other things. Industry 4.0 is being adopted by every industry; even social networking sites are no different from this. Recently, Facebook changed its name to Meta Platforms, Inc. to focus on augmented and virtual reality in social networking. Big Data analytics has actively helped businesses to make crucial business decisions and provided ways to optimize business processes. Industry 4.0 removes the requirement for human intervention, thereby speeding up the completion of tasks. Industry 4.0 aims to improve productivity, reduce costs, enhance quality, and enable greater flexibility in manufacturing and supply chain operations by creating a connected and data-driven ecosystem in which machines, devices, and systems can communicate and collaborate autonomously.
Multiple factors are boosting the growth of the Industry 4.0 market. The widespread adoption of the Industrial Internet of Things has aided the growth of the market greatly. Automotive, Aerospace, and Energy Power have been the front runners in the adoption of IIoT. IIoT has enabled the easy handling of complex production activities. Also, maintaining the highest quality of the finished product. Easy deployability and the ongoing trend of plug and play have made industries prefer IIoT. IIoT has led to saving up costs and times for businesses. Another factor driving the market is the increasing use of robotics. Apart from manufacturing and production facilities robotics are being actively used in restaurants, transportation, research fields, space exploration, and many other areas. Thus, there has been a huge demand for robotics and its assisting technology. The use of robotics is also growing in defense and search and rescue operations as well as commercial ocean exploration projects. Its use greatly reduces the danger to human life and provides unrestricted capabilities to conduct operations in these areas. Large investments both public and private in digitalization have been also assisting market growth. Digitalization has made processes quick, effortless, and paperless. Thus, governments are focusing on digitalizing their processes. A major example of digitalization is the creation of the Uniformed Payment Interface in India. The only restraint market faces is the cyber security threats. There has been a surge in cyber security crimes around the world. Thus, Industry 4.0 is also vulnerable to cyber security threats. New opportunities are expected to arise in technological advancements such as deep neural networks and the roll-out of 5G are taking place in the market.
North America commands a substantial share of the Industry 4.0 market due to several key factors. The region boasts a robust ecosystem of technology innovators, well-established industrial sectors, and a strong focus on digital transformation. Companies in North America have invested heavily in automation, data analytics, IoT, and smart manufacturing, driving the adoption of Industry 4.0 solutions. Additionally, a skilled workforce and supportive government initiatives further stimulate growth. North America's leadership in Industry 4.0 is marked by its ability to harness cutting-edge technologies, improve operational efficiency, and maintain a competitive edge in the global market, making it a dominant player in this transformative industrial revolution. Additionally, Asia-Pacific is expected to be the fastest growing region in the market. Countries such as India and China are hubs of Information Technology and technological innovations. Japan and South Korea are among the top countries in the use of technology. Furthermore, the region's economic prosperity has been a catalyst for the widespread adoption of Industry 4.0 technologies, contributing to its fastest growing position in the market.
|Market Size in 2022||USD 155.80 Billion|
|Market Size by 2030||USD 632.78 Billion|
|Growth Rate from 2023 to 2030||CAGR of 16.64%|
|Largest Market||North America|
|No. of Pages||180|
|Market Segmentation||By Technology, and By End User|
|Regional Scope||North America, Europe, Asia Pacific, and RoW|
The report on global industry 4.0 market covers segments such as technology, and end user. On the basis of technology, the sub-markets include industrial robotics, industrial internet of things (iiot), 3d printing, artificial intelligence, blockchain, augmented and virtual reality, and others. On the basis of end user, the sub-markets include automotive, aerospace, energy & power, industrial equipment, electrical & electronics equipment, social networking, and others.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., Microsoft, IBM Corporation, ABB Ltd., Intel Corporation, Siemens, SAP SE, General Electric, HMS Networks, and Festo Inc..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industry 4.0 market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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