Industry 4.0 Market Segmentation, Applications, Outlook and Size of Industry will reach USD 12.3 billion by 2030

Industry 4.0 Market Analysis

The global industry 4.0 market size is predicted to reach USD 12.3 billion by 2030, asserts Market Research Future (MRFR) in its report. Industry 4.0 is the term for industrial automation and rapidly being adopted by large industries to expedite their process in response to demand. MRFR’s report on the industry 4.0 market focuses on rapid changes in technologies and latest evolutions. It offers drivers, opportunities, and restraints for the forecast period (2022-2030). The COVID-19 pandemic and its implications are explored in depth in the market.

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Industry 4.0 Market Scope

The global industry 4.0 market is set to thrive over the forecast period owing to plans for digitization of processes and data by key leaders across various verticals. Adoption of internet of things and artificial intelligence for predictive maintenance of equipment, quality control, and optimizing processes can bode well for the market. Remote monitoring of facilities due to lack of workforce caused by the COVID-19 lockdown was assisted by industry 4.0. The technology will be a mainstay for tackling uncertain events and spike in demand.

The utilization of wearables in the healthcare sector for monitoring the health of patients and tracking equipment can bode well for the industry 4.0 market. Mobile personal emergency response systems had witnessed a surge for playing a huge role in remote patient monitoring.

But lack of skilled personnel with qualifications for running AI and IoT can be detrimental to the market.

Industry 4.0 Market COVID-19 Impact Analysis

The COVID-19 pandemic has propelled the industry 4.0 market demand as digital transformation initiatives are undertaken by small and large corporations for streamlining their supply chain. Investments in automated solutions to improve resiliency and efficiency and curb exorbitant costs can drive regional market growth. Rise in reshoring as well as increase in international trade can influence market growth in the coming years.

Segmentation Analysis

Industrial Automation Application to Register Huge Growth

The industrial automation application can register a phenomenal growth owing to the effects of the COVID-19 pandemic and use of sensors for monitoring, tracking, and maintaining of various assets.

Manufacturing to be Leading End-user

The manufacturing industry is anticipated to be the biggest user of industry 4.0 due to use of robots for repetitive tasks and encouraging rise of smart production. Automation provides an edge to manufacturing companies and a viable alternative to offshoring and maintain the product quality.

Industry 4.0 Market Regional Analysis

APAC to Capture Considerable Market Share by 2027

Asia-Pacific (APAC) is set to lead in the global industry 4.0 market owing to adoption of robotics in the manufacturing and ecommerce sectors. Rising rate of consumption of goods and needs to improve last-mile delivery can drive regional market demand.

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Industry 4.0 Market Competitive Analysis

General Electric Company (US), SAS (US), Wittenstein AG (Germany), Siemens AG (Germany), Festo AG & Co. KG (Germany), Daimler AG (Germany), TRUMPF GmbH (Germany), Bosch Rexroth AG (Germany), MaschinenfabrikReinhausen GmbH (Germany), and Klockner & Co. SE (Germany) are key players in the global industry 4.0 market.

Industry 4.0 Industry News

Bosch has decided to open 2 new education centers to train workers in processes and software pertaining to industry 4.0 and safeguard future jobs.

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 Industry 4.0 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 Industry 4.0 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH NETWORK SOLUTION

2.2 Industry 4.0 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 Industry 4.0 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS