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The global industry 4.0 market size is expected to reach USD 380,217.9 million by 2030, expanding at a compound annual growth rate (CAGR) of 21.7%. The market is reported to be USD 79,014.7 million in 2021. The key factors fueling the growth of industry 4.0 industry include growing government investments in 3D printing and additive manufacturing, rising demand for industrial robots in pharmaceutical and medical device manufacturing sector, and surging adoption of artificial intelligence (AI) and internet of things (IoT) in manufacturing sector. Growing application of AI and IoT in medical wearables is expected to provide lucrative opportunities for the global market throughout the forecast period.
On the basis of region, the report offers an analysis on of industry 4.0 industry in Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to be the leading regional market during forecast period, driven by continuous developments in smart manufacturing processes. In terms of revenue, Europe captured the second position in the industry 4.0 market. The industry 4.0 market in Asia Pacific region is projected to grow at lucrative growth rate over the forecast period. The growth of the industry 4.0 market in Asia Pacific is likely to be driven by rising labor costs.
Based on technology, the industry 4.0 market is segmented into industrial robots, blockchain, industrial sensors, industrial 3D printing, machine vision, HMI, AI in manufacturing, digital twin, AGV’s, and machine condition monitoring.
The companies operating in the global industry 4.0 market have implemented various business strategies to increase their market share, and capitalize existing opportunities in the market. Some of companies profiled in report include 3D Systems, ABB, Addverb Technologies, Advantech, AIBrain, Algolux, Basler, Beckhoff Automation, BigchainDB GmbH, Cisco Systems, Cognex Corporation, Daifuku, Emerson Electric, General Electric, Honeywell International, IBM, Intel, John Bean Technologies Corporation, LogiLube, Nvidia, Pratiti Technologies, Sculpteo, Siemens, Sigfox, Stratasys, Techman Robot, and Universal Robots.
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