Globally, the Industry 4.0 market has been growing continuously and exhibiting high growth potential. The market is expected to cross $200 billon market with a CAGR of 16.2% by 2023. Asia-Pacific is the fastest growing market during the forecast period. The global acceptance of technology innovation to improve operational efficiency, collaboration between humans and machines are driving the growth of the industrial internet of things market, which in turn affects the growth of the Industry 4.0 market.
What is Industry 4.0?
Industry 4.0 is the next industrial revolution that makes it possible to gather and analyze data across industrial machines that enable improvement of operational efficiency by reduction in costs associated with the transportation, manufacturing, storing, maintenance and others. Industry 4.0 comprises of different types of technologies such as big data and analytics, augmented reality, autonomous robots, simulation, horizontal and vertical system integration, cloud computing, cyber security, internet of things (IoT), advanced human-machine interfaces, additive manufacturing (3D Printing) and others. The increasing number of investments by end user verticals is anticipated to propel the market growth during the forecast period. However, availability of large amount of structured and non-structured data that has no proper connection is anticipated to provide challenges to the market growth
Who are the major end user verticals for Industry 4.0?
The major end user verticals for Industry 4.0 include automotive, energy, healthcare, transportation, manufacturing, oil & gas, agriculture, chemicals and others. The electronics industry is anticipated to have major growth during the forecast period owing to the significant investments by the industry. The IoT is transforming healthcare through clinical wearables and sophisticated surgical equipment. The increasing usage of IoT in self-driving cars, intelligent transportation and logistics systems is anticipated to strengthen the Industry 4.0 market.
Market Research and Market Trends of Industry 4.0 Ecosystem
- Increasing number of startups such as Oden Technologies, Argus Cyber Security, Neuron Soundware and others that provides data analytics services to the end user industries such as manufacturing, transportation and others is anticipated to escalate the Industry 4.0 market in the near future
- In Australia, the decline in conventional manufacturing and the rise in educational attainment has resulted in the rise of additive manufacturing (AM) adoption in the country, thereby affecting the growth of Industry 4.0 market
- Burgeoning number of companies with significant investments is anticipated to upsurge the growth of the Industry 4.0 market. One such company is Rittal which invested nearly €120m to build a new digitalized plant for manufacturing of large enclosures
- The logistics industry is clearly striving towards digital transformation, with IoT-based solutions, used along with robotics, automation and machine learning to transform the way that goods are manufactured, stored and delivered. Thus, the companies that proactively invest in these technologies will be able to operate more securely and profitably across their supply chain.
Who are the Major Players in Industry 4.0 market?
The companies referred in our report includes Hewlett Packard Enterprise Company, Oculus VR, ABB Ltd., General Electric Company, Stratasys Ltd., Mitsubishi Electric Corp., Intel Corp., Microsoft Corporation and others
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.