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Industry 4.0 Market Expands with Rise in Digitalization, Says TMR Study

Transparency Market Research
Transparency Market Research

The Industry 4.0 market is estimated to be valued at US$ 1 Trn by 2031, Rise in spending of consumers on next-gen smart factory solutions is propelling the Industry 4.0 market

ALBANY, N.Y., April 19, 2022 (GLOBE NEWSWIRE) -- The global Industry 4.0 market is estimated to register growth at a CAGR of 26.7% during the forecast period, according to a research report by Transparency Market Research (TMR).

Companies operating in the automobile and manufacturing industries are increasing their focus on improving production efficiency. Hence, they are seen developing new production plants using smart factory solutions. Moreover, these enterprises are focusing on replacing conventional production techniques with next-gen smart manufacturing technologies and connected production systems, which, in turn, is creating business prospects in the global Industry 4.0 market.

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Industry 4.0 Market: Key Findings

  • Industry 4.0 includes various industrial solutions such as connected production assets, cyber-physical systems, and next-gen automation equipment in order to ensure safety, quality, and improved efficiency of several production processes. Industry 4.0 solutions are gaining popularity, owing to their ability to assist enterprises in smart energy consumption, remote monitoring and control for different production processes, and real-time supply chain optimization. Rise in awareness on advantages of these solutions is prognosticated to help in creating profitable business prospects in the global Industry 4.0 market during the forecast period.

  • Companies operating in the Industry 4.0 market are providing industrial connected solutions that can be incorporated with current system infrastructure. Moreover, latest solutions are helping in decreasing additional infrastructural cost for latest technologies. Besides, many companies in the Industry 4.0 market are providing advanced solutions in predictive maintenance, mobile workforce management, field surveillance & monitoring, demand & supply monitoring, and smart production operations. These solutions are helping in the management of supply chain operations using connected devices and digital platforms.

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Industry 4.0 Market: Growth Boosters

  • Rise in focus of various companies on improving their efficiency and minimizing production costs is projected to create business prospects in Industry 4.0 market

  • Increase in inclination of consumers toward the adoption of digitalization and next-gen smart factory solutions is generating lucrative opportunities in the Industry 4.0 market

Industry 4.0 Market: Regional Analysis

  • The Industry 4.0 market in North America is prognosticated to gain lucrative opportunities during the forecast period due to increased technological advancements, rising number of consumers spending on Industry 4.0 solutions such as AR/VR systems, advanced robotics, 3D printing solutions, and presence of key market players in the region

  • The Europe Industry 4.0 market is projected to expand in the upcoming years, owing to the presence of many Industry 4.0 providers in several regional nations such as Germany and the U.K. together with a surge in commercial investment in Industry 4.0 in the region

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Industry 4.0 Market: Competition Landscape

  • Companies are increasing investments toward the development of cost-efficient Industry 4.0 and next-gen technologies in order to expand their commercial customer base

  • Many enterprises in the Industry 4.0 market are using strategies such as partnerships and acquisitions in order to maintain their market position and expand their businesses

  • Players are increasing the use of budget-friendly technologies in varied production operations so as to boost their productivity and maintain the quality of the production line. Moreover, several solution providers are focusing on offering cost-efficient solutions and expanding their presence in small regions.

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Industry 4.0 Market: Key Players

Some of the key players profiled in the report are:

  • Alphabet Inc.

  • ABB Ltd.

  • Cisco Systems, Inc.

  • Ansys, Inc.

  • FANUC Corporation

  • Cognex Corporation

  • HMS Networks AB

  • General Electric Company

  • International Business Machines Corporation

  • Intel Corporation

  • Microsoft Corporation

  • KUKA AG

  • Rockwell Automation, Inc.

  • Mitsubishi Electric Corporation

  • Schneider Electric SE

  • SAP SE

  • Stratasys, Ltd.

  • Siemens AG

  • The Yaskawa Electric Corporation

  • The Hewlett Packard Enterprise Company

Industry 4.0 Market Segmentation

Component

  • Solutions

    • Industrial Automation Solutions

    • Smart Factory Solutions

    • Industrial IoT Solutions

  • Services

    • Implementation & Integration

    • Support & Maintenance

    • Consulting & Training

Technology

  • 3D Printing

  • Advanced Robotics

  • AR/VR Systems

  • Internet of Things (IoT)

  • Artificial Intelligence

  • Others (Cyber Security, Big Data, and Predictive Maintenance)

Enterprise Size

  • Small & Medium Enterprises

  • Large Enterprises

Industry

  • Manufacturing

  • Energy & Utilities

  • Automotive

  • Oil & Gas

  • Aerospace & Defense

  • Electronics & Consumer Goods

  • Food & Beverage

  • Others

Region

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • ASEAN

    • Rest of Asia Pacific

  • Middle East & Africa

    • United Arab Emirates

    • Saudi Arabia

    • South Africa

    • Rest of Middle East & Africa

  • South America

    • Brazil

    • Argentina

    • Rest of South America

Browse Latest IT & Telecom Industry Research Reports by TMR

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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