Industry 4.0 Market 2023 – 2030 by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV's, Machine Condition Monitoring), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Electronics & Semiconductors | Pages : 149 Pages | Published On : Jul 2023

The global market size for Industry 4.0 is estimated to reach USD 165.5 billion by 2030, showing significant growth from USD 73.9 billion in 2023, with a compound annual growth rate (CAGR) of 20.6% during the forecast period. The growth rate observed between 2021 and 2022 was 39.12%. Within the Industry 4.0 market, AI in Manufacturing is expected to have the highest CAGR of 49.07%.

The primary driving factors for the Industry 4.0 market include the increased adoption of automated equipment and tools in manufacturing, warehouses, and factories, growing investments in additive manufacturing, and the emergence of digital technologies such as IoT, AI, ML, cloud services, and 5G. These factors are expected to create significant demand for the Industry 4.0 industry.

The Industry 4.0 ecosystem consists of various technologies, including AI in Manufacturing, Industrial Sensors, Industrial Robots, Machine Vision, Human Machine Interface, Digital Twin, Machine Condition Monitoring, Industrial 3D Printing, and Automated Guided Vehicles. The demand for computers, monitors, network peripherals, and wireless connectivity solutions has increased in recent years, driving digital adoption in both industrial and commercial sectors. This exponential market growth is due to consumers realizing the benefits of Industry 4.0.

Market Dynamics:

Driver: Increasing Adoption of Additive Manufacturing

3D printing and additive manufacturing are innovative technologies with diverse applications. They have been extensively used, for example, in the production of ventilator valves during the surge in demand in hospitals worldwide. 3D printing technology is poised to revolutionize trends in the manufacturing industry, and governments globally are providing funding and support for its development. The US, the UK, and Canada have implemented national programs to promote 3D printing research, leading to advancements and the establishment of startups. The emergence of new applications for 3D printing will attract industrialists and governments worldwide.

Restraint: High Implementation Costs Limit Industrial Robot Use in Startups

Industrial robots are highly beneficial for saving time, reducing downtime, and eliminating manual labor in smart factories. However, the deployment of industrial robots is expensive, with costs upwards of USD 20,000 per robot. This makes it financially challenging for startups with limited resources to deploy industrial robots in their manufacturing units, especially considering the significant repair and maintenance costs associated with them.

Opportunity: Growing Popularity of 5G in Cloud Robotics

Cloud robotics has gained traction due to the increased deployment of robots in manufacturing facilities globally. Cloud robotics involves placing system intelligence in the cloud and integrating it with robots in the factory. As the use of cloud robotics expands across the manufacturing sector, the demand for high-performance networks like 5G increases. 5G provides higher bandwidth and lower latency than Wi-Fi, enabling smooth integration of robots with the cloud network. Consequently, 5G is increasingly preferred in robotics applications.

Challenge: Interoperability and Integration Issues of Industrial Robots

The widespread use of industrial robots in manufacturing facilities has led to significant integration challenges. Integrating robots with assembly lines can be a complex and time-consuming task, often requiring the expertise of integrators to redesign and repurpose robot workcells. Large manufacturers with legacy technologies and infrastructure struggle to integrate 15- to 20-year-old systems with new robotics technologies on the same manufacturing line. For small and medium-sized enterprises (SMEs), integration costs become burdensome and unsustainable, making robot adoption challenging.

North America Shows the Highest Growth Rate in the Industry 4.0 Market

North America is experiencing rapid growth in the Industry 4.0 market due to continuous technological advancements, government support, and efforts to ensure real-time quality control and visibility in the manufacturing sector. The United States, with its strong industrial base and high production capacity, is expected to be a major contributor to the Industry 4.0 market in North America.

Top Industry 4.0 Companies - Key Market Players

The industry 4.0 players have implemented various types of organic as well as inorganic growth strategies, such as new product launches,  and acquisitions to strengthen their offerings in the market. The major players in the industry 4.0 market are  General Electric(US), Siemens (Germany), Honeywell International (US), ABB (Switzerland), Emerson Electric (US), 3D Systems (US), Advantech (Taiwan), Basler (Germany), Cisco Systems (US), Cognex Corporation (US), Daifuku (Japan), IBM (US), Intel (US), John Bean Technologies Corporation (US), Nvidia (US), Stratasys (Israel), Techman Robot (Taiwan), Universal Robots (Denmark), Addverb Technologies (India), AIBrain (US), Algolux (Canada), Beckhoff Automation (Germany),  BigchainDB GmbH (Germany), LogiLube (US), Pratiti Technologies (India), Sculpteo (France), Sigfox(France)

The study includes an in-depth competitive analysis of these key players in the industry 4.0 market with their company profiles, recent developments, and key market strategies.

By Technology:

 • Industrial Robots
• Blockchain
• Industrial Sensors
• Industrial 3D Printing
• Machine Vision
• AI in Manufacturing
• Digital Twin
• AGV’s
• Machine Condition Monitoring
By Region • North America
o US
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia Pacific (APAC)
o China
o Japan
o India
o South Korea
o Rest of APAC
• Rest of the World (RoW)
o Middle East & Africa
o South America

Recent Developments in Industry 4.0 Market Share

• In February 2022, IBM acquired Sentaca, one of the leading telco consulting services and solutions providers. This acquisition will accelerate IBM’s hybrid cloud consulting business, adding critical skills to help Communication Service Providers (CSPs) and media giants modernize on multiple cloud platforms, innovate, and transform their businesses.
• In February 2021, Siemens agreed on a joint venture with IBM to apply cloud services, built on RedHat’s Openshift, and extended the deployment flexibility of MindSphere, the industrial IoT, as a service solution from Siemens. This will enable consumer to run MindSphere on premises, unlocking the speed and agility in factory and plant operations, and though cloud for seamless product support, updates, and enterprise connectivity.


Table and Figures


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