Industry 4.0 Market 2021: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2028
Posted on May 4 2021 3:10 AM
"Key Companies Covered in Industry 4.0 Market Research Report are ABB Ltd, Siemens AG, Cognex Corporation, Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Rockwell Automation, Inc., General Electric Company, Robert Bosch GmbH, Cisco Systems Inc., Denso Corporation, Intel Corporation, Fanuc Corporation, L&T Technology Services (LTTS)."
The global industry 4.0 market is set to gain impetus from the increasing demand for the Internet of Things (IoT). It has given rise to the surging usage of digital twins to remotely manage and track systems and equipment in real-time. In February 2020, for instance, China-based Huawei Technologies Co., Ltd. introduced its latest 5G digital engineering solution. It can develop a replica of a physical site and allow operations on the digital site. This information is given by Fortune Business Insights™ in a new report, titled, “Industry 4.0 Market, 2021-2028.” The report further states that the market size is projected to grow from USD 116.14 billion in 2021 to USD 337.10 billion in 2028 at a CAGR of 16.4% in the forecast period. It stood at USD 101.69 billion in 2020.
COVID-19 Pandemic: Surging Digitalization in Various Sectors to Affect Growth Positively
The outbreak of the COVID-19 pandemic has accelerated digitalization in a wide range of industries. It is providing multiple opportunities for prominent companies to adopt and create creative solutions for boosting digital transformation. The concept of industry 4.0 would help organizations run their businesses smoothly by adopting IoT and other similar technologies. But, some of the companies have stopped their manufacturing processes because of supply chain disturbances. Our reports will help you to better understand the current situation.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/enquiry/queries/industry-4-0-market-102375
Industrial Automation Segment Held Share of 21.0% in 2020
Based on the vertical, the market is categorized into manufacturing, energy & utilities, automotive, oil and gas, aerospace and defense, electronics and consumer goods, and others. By the application, it is trifurcated into industrial automation, smart factory, and industrial IoT. Amongst them, the industrial automation segment generated 21.0% in 2020 in terms of the industry 4.0 market share. Various manufacturers are connecting their industrial equipment wirelessly to collect data, which, in turn, is helping them to recognize potential failures of machines, improve their performance, and estimate their current state.
Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/industry-4-0-market-102375
The research report of the market delivers a brief analysis of existing companies that can affect the outlook in the near future. Also, it provides an accurate assessment by highlighting information on numerous factors that include growth drivers, opportunities, trends, and hindrances. It represents the market size from a global perspective by analyzing historical data and qualitative insights.
Drivers & Restraints-
Increasing Utilization of Robotic Engineering and Technologies to Boost Growth
Robots nowadays have become inexpensive and are capable of performing various tasks. Industrial robots are being rapidly used across the globe on account of evolution, development, and advancements. The manufacturing sector has also accepted robotic technologies and engineering to enhance their production processes. They can perform testing, product inspection, palletizing, pick and position, assembling, ironing, heavy-lifting, and welding. These factors are expected to bolster the industry 4.0 market growth in the upcoming years. However, the implementation of unique technologies can often lead to security and data breaches. Also, industry 4.0 solutions cannot prevent hackers from accessing the confidential data of manufacturers. It may hinder growth.
North America to Grow Steadily Fueled by Increasing Investments in R&D Activities
Geographically, North America is anticipated to remain in the dominant position throughout the forthcoming years. This growth is attributable to the rising acceptance of smart manufacturing by various reputed firms. Additionally, surging investments in R&D activities, coupled with favorable government initiatives would accelerate growth in this region. Europe, on the other hand, held USD 34.60 billion in terms of revenue in 2020. The presence of robust tech giants, namely, General Electric, Honeywell, and Siemens is set to spur the demand for industry 4.0 in this region. Coupled with this, the increasing establishment of real-time data processing and connectivity is anticipated to propel growth.
Key Players Focus on Developing New Solutions to Intensify Competition
The global market houses numerous manufacturers that are trying to develop state-of-the-art and easy-to-use solutions for various sectors. Most of them are participating in partnerships and acquisitions to compete in the market. Below are the two latest industry developments:
- February 2020: Tech Mahindra and Honeywell collaborated to develop ‘Industries of the Future.’ Both companies are planning to capitalize on software, Industry 4.0, 5G, and digital transformation capabilities.
- March 2019: Ericsson introduced a novel connectivity solution named Ericsson Industry Connect. It would help communication service providers to provide dedicated cellular networks at warehouses and factories.
A list of renowned providers of industry 4.0 present in the global market:
- ABB Ltd (Zürich, Switzerland)
- Siemens AG (Berlin, Germany)
- Cognex Corporation (Massachusetts, United States)
- Schneider Electric SE (Rueil-Malmaison, France)
- Honeywell International Inc. (North Carolina, United States)
- Emerson Electric Co. (Missouri, United States)
- Rockwell Automation, Inc. (Wisconsin, United States)
- General Electric Company (New York, United States)
- Robert Bosch GmbH (Stuttgart, Germany)
- Cisco Systems Inc. (California, United States)
- Denso Corporation (Aichi, Japan)
- Intel Corporation (California, United States)
- Fanuc Corporation (Yamanashi, Japan)
- L&T Technology Services (LTTS) (Vadodara, India)
Quick Buy – Industry 4.0 Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102375
Detailed Table of Content
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Industry 4.0 Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Primary Interviewee’s Key Responses
- Companies Profiled (Covered for key 10 players only)
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]
Company Press Release
- Global Antibacterial Drugs Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Vitamin B Complex Ingredients Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Temporary Pacemakers Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Medical Equipment Rental Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Colored Contact Lenses Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Central Nervous System Treatment Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027
- Global Cell Freezing Media Market Size And Share By Industry Demand, Worldwide Research, Prominent Players, Emerging Trends, Investment Opportunities And Revenue Expectation Till 2027