Industry 4.0 Equipment Market - Forecast(2024 - 2030)
Industry 4.0 Equipment Market Overview
Industry 4.0 Equipment
Market is forecast to reach $125.6 billion by 2026, growing at a CAGR 12.0%
from 2021 to 2026. Industry 4.0 is a term that describes a group of rapid
changes in the design, manufacture, operation and service of production systems
and products. Industry 4.0 is the broad industrial transformation of the whole industrial
production ecosystem by combining digital technology and the internet with
conventional industry. Industry 4.0 equipment is notable for its extensive
generation and use of 'big data,' facilitated by constant, widespread internet
connectivity. As LPWANs proliferate in factories, warehouses and industrial
campuses, the supply chain will increasingly be able to share real-time
monitoring data with sophisticated cloud analytics software about products,
inventories and assets. The increasing number of investments by vertical
end-users and the global acceptance of technology innovation to improve
operational efficiency, a collaboration between humans and machines are driving
the growth of the market of the industrial internet of things, which in turn
affects the growth of the market of Industry 4.0 Equipment.
Report Coverage
The report: “Industry 4.0 Equipment Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of Industry 4.0 Equipment Market.
By Type: Linear Shafts, Washers, Shaft Supports, Shaft
Collar, Linear Bushings, Oil Free Bushings, Washers, Linear Guides, Cable
Carriers, Ball Screw, Lead Screws, Slide Screws, Actuators, Locating Pins,
Bushings, Plungers, Clamps, Motorized Stages, Manual stages, Micro Switches,
Limit Switches, Control switches, Contact Probes, Lamps for Inspection,
Sensors, Lens, Temperature Sensors, Heaters, General Motors, Chain Sprockets,
Rollers, Gas Springs Bearings, Gears, Chain, Others
By Technology: Internet of Things, Artificial
Intelligence, 3D Printing, Augmented Reality & Virtual
Reality, Industrial Robotics, Industrial Metrology, Blockchain, Digital
Twin, 5G
By End Use
Industry: Automotive, Aerospace
and Defense, Energy and Power, Industrial Equipment, Consumer Electronics,
Metals, Chemical, Oil & Gas, Consumer Electronics, Pharmaceutical, Food and
Beverage, Paper and Pulp, Packaging, Others
By Geography: North America (U.S., Canada and Mexico); Europe (U.K., Germany,
Italy, France,Spain, Russia, Rest of Europe); APAC (China, Japan, South Korea,
India, Australia, Rest of APAC); South America (Brazil, Argentina, Rest of
South Americas); RoW (Middle East & Africa)
Key Takeaways
- The increasing number of investments made by vertical end-users and the global acceptance of technology innovation to improve operational efficiency, collaboration between humans and machines is driving the growth of the industrial internet of things market, which in turn affects the growth of the Industry 4.0 Equipment Market.
- The
major factors that make APAC a dynamic region for Industry 4.0 are
government initiatives, R&D funding and an extensive industrial base,
with Japan and China being the major contributors.
Industry 4.0 Equipment Market, By Region, 2020
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Industry 4.0 Equipment Market Segment Analysis - By Technology
During the forecast
period Internet of Things segment is expected to grow at a CAGR of 14.1%
through 2026. The potential benefits of IoT have prompted several manufacturers
of industrial equipment to implement IoT. By connecting industrial equipment
together using wireless connectivity and collecting sensor data from the
equipment, manufacturers can accurately determine the machine's current state,
optimize its performance, identify potential failures and plan maintenance
schedules accordingly. IoT’s ability to monitor company assets remotely and to
carry out predictive maintenance is the primary reason for its increasing
adoption. Remote monitoring is a necessity in industries, especially for
equipment that is deployed under extreme conditions, such as wells or mines
under subsea oil. Failure of equipment operating under such conditions can be
potentially disastrous, as it can lead to heavy financial losses and can also
threaten people's lives. The increasing usage of IoT in self-driving cars is
anticipated to strengthen the Industry 4.0 Equipment Market.
Industry 4.0 Equipment Market Segment Analysis - By End Use Industry
The Aerospace and
Defense Industry is projected to grow during the forecast period at the highest
CAGR of 15.0% CAGR. The aerospace & defense industry needs to tackle
unplanned downtime that could have a major impact on its operations. To this
end, manufacturers are increasingly spending on smart fabrication solutions to
enable asset monitoring in real-time. Manufacturers focus primarily on
controlling the supply of components, improving product quality, shortening the
production cycle and employing efficient production processes.
Industry 4.0 Equipment Market Segment Analysis - By Geography
APAC is expected to
dominate the Industry 4.0 Equipment Market with a share of more than 35.2%.
Increasing robotics adoption in countries such as China, Japan, and South Korea
is the major factor for the Industry 4.0 Equipment Market to grow. The APAC
market is also expected to grow at the fastest rate of 14.9% CAGR through 2026.
The major factors that make APAC a dynamic region for Industry 4.0 are
government initiatives, R&D funding and an extensive industrial base, with
Japan and China being the major contributors. The Asia-Pacific region is highly
diverse with localised features, ranging from technologically advanced,
high-cost manufacturing countries to low-cost, low-productivity nations.
Countries such as China, Japan, South Korea, Taiwan and Singapore can be
classified as mature manufacturing countries The market for Industry 4.0 is
expected to register positive growth across Asia Pacific in the coming years
and eventually it will help the growth of Industry 4.0 Equipment Market.
Industry 4.0 Equipment Market Drivers
A significant rise in the adoption of industrial internet
One of the major factors
estimated to encourage the development of the global 4.0 industry market in the
coming years is a significant rise in the adoption of industrial internet.
Prominent players' increasing focus on the cost and efficiency of manufacturing
is expected to lead to digitization. This is expected to speed up overall market
development in the coming few years. Besides this, the increasing adoption of
automation for high-quality production is likely to ensure market growth in the
coming years.
Industry 4.0 and Interactive Robots
The growing digitized
world is the major factor attributing global industry growth to the 4.0 market.
Industry 4.0 innovations such as IoT and smartphone voice assistants provide
good shopping experience for customers. Another factor that fuels market growth
is the manufacture of robots using Industry 4.0. Robots made using I4.0 will
interact and work safely beside humans without causing any harm to them. These
robots work more effectively than humans, and are available on the market at
low cost.
Industry 4.0 Equipment Market Challenges
Lack of Security
Manufacturing is the
second-largest targeted industry for attacks, according to the 2019 IBM-X Force
Threat Intelligence Index. Because of less security, Industry 4.0 technologies
allow hackers to attack the manufacturer's data and also to infect new detention
systems and to sell confidential information. The scarcity of skilled workers
is also estimated to reduce the rise of the industry 4.0 market over the next
few years.
Industry 4.0 Equipment Market Landscape
Technology launches, acquisitions,
and R&D activities are key strategies adopted by players in Industry 4.0
Equipment Market. Industry 4.0 Equipment Market is expected to be dominated by
major companies such as Bosch Rexroth AG, Hewlett Packard Enterprise Company,
Oculus VR, ABB Ltd., General Electric Company, Stratasys Ltd., Mitsubishi
Electric Corp., Intel Corp., Microsoft Corporation and others.
Acquisitions/Technology Launches
- In May 2019, PTC launched its Industry 4.0 technology suite at IITD-AIA Foundation for Smart Manufacturing (FSM), at IIT Delhi, India to the Manufacturing Industry.
- In
Feb 2020, LTTS Launched Industry 4.0 NOW to help global manufacturers
scale up their digital initiatives.
Related Reports:
IoT In Manufacturing Market - Industry Analysis, Market
Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026
Report Code: ITR 37031
Industry 4.0 Market - Forecast(2021 - 2026)
Report Code: ITR 0181
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