Industry 4.0 Market Size & Trends Expected to Grow USD 210 Billion by 2026, Globally – Facts and Factors
Oct 20, 2020
Global industry 4.0 market in 2019 was approximately USD 70 Billion. The market is expected to grow at a CAGR of around 17% and is anticipated to surpass USD 210 Billion by 2026.
Pune, India - October 20, 2020 /MarketersMedia/ —
According to Facts and Factors Research Report, the global industry 4.0 market in 2019 was approximately USD 70 Billion. The market is expected to grow at a CAGR of around 17% and is anticipated to surpass USD 210 Billion by 2026.
Industry 4.0, also referred to as the fourth industrial revolution, is composed of robotic control, automation tools, and big data analytics that support efficient production and maneuver in any manufacturing sector. It not only augments the technology used but also enhances asset performance, material utilization, and other industrial procedures implicated in the industries. The global industry 4.0 market will witness remarkable growth in the coming years owing to the rising adoption of industrial automation, growing usage of robot technology, and an upsurge in government funding to promote digitalization. However, the installation of advanced robotic and data analytics technology needs a huge initial investment along with a team of expert personnel, which are the two key factors hampering market growth.
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By technology, IoT segment dominates the global industry 4.0 market during the study timeframe
IoT is gaining popularity among several manufacturing industries, as technology enhances the efficiency of industrial production processes. The industrial gears connected with wireless technology, sensors, and data processing equipment would help industries to optimize the production rate, determine equipment’s real-time state, locate possible malfunctioning within the equipment, and organize proximity schedules for servicing & repairing of gears. The rising trend for remotely handling the industrial manufacturing processes, especially under adverse conditions such as mining and submerged oil extraction sectors, is the leading factor for the growing adoption of IoT, which in turn propels the global industry 4.0 market.
Top Market Players:
Some of the key players driving the global industry 4.0 market are General Electric, Google, AIBrain, General Vision, Microsoft, Siemens, Amazon Web Services, Mitsubishi, FANUC, Cisco, HP, Yaskawa, SAP, KUKA, Intel, ABB, Stratasys, Ansys, and IBM, among others.
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Industry 4.0, also referred to as the fourth industrial revolution, is composed of robotic control, automation tools, and big data analytics that support efficient production and maneuver in any manufacturing sector. It not only augments the technology used but also enhances asset performance, material utilization, and other industrial procedures implicated in the industries. The global industry 4.0 market will witness remarkable growth in the coming years owing to the rising adoption for industrial automation, growing usage of robot technology, and an upsurge in government funding to promote digitalization. However, the installation of advanced robotic and data analytics technology needs huge initial investment along with a team of expert personnel, which are the two key factors hampering the market growth.
The global industry 4.0 market research report delivers an acute valuation and taxonomy of the global industry 4.0 industry by practically splitting the market on the basis of different technologies, end-users, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the global industry 4.0 industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the global industry 4.0 industry is provided for the leading economies of the world.
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The global industry 4.0 market is segmented based on technology, end-user, and region. Technology-wise, the global industry 4.0 market is categorized into artificial intelligence, 5G, internet of things (IoT), blockchain, augmented reality & virtual reality, and 3D printing. The end-user segment bifurcates the sector into energy & power, aerospace, logistics, automotive, and others.
The Asia Pacific region is witnessing a remarkable growth for the industry 4.0 market during 2020–2026
The majority of the leading companies have established their manufacturing plants in the Asia Pacific region owing to the rapid technological advancement and relatively moderate investment for setting up a plant. China, South Korea, and Japan are the key countries within the region that are widely adopting robotics and wireless technology in production industries, thereby flourishing the Asia Pacific industry 4.0 market.
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This report segments the global industry 4.0 market as follows:
Global Industry 4.0 Market: Technology Segmentation Analysis
Artificial Intelligence
5G
Internet of Things (IoT)
Blockchain
Augmented Reality & Virtual Reality
3D Printing
Global Industry 4.0 Market: End-User Segmentation Analysis
Energy & Power
Aerospace
Logistics
Automotive
Others
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Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
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