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Industry 4.0 Market Size, Growth, Trend and Forecast to 2022 | MarketsandMarkets

Industry 4.0 Market by Technology (Industrial Robotics, Cyber Security, Internet of Things

USA, 13 March 2019 -- Industry 4.0 Market by Technology (Industrial Robotics, Cyber Security, Internet of Things, 3D Printing, Advanced Human-Machine Interface, Big Data, Augmented Reality & Virtual Reality, Artificial Intelligence), Vertical, Region - Global Forecast to 2022

According to the MarketsandMarkets forecast, the Industry 4.0 market was valued at USD 66.67 billion in 2016 and is expected to reach USD 152.31 billion by 2022, at a CAGR of 14.72% between 2017 and 2022. The increasing adoption of the industrial Internet and increased focus on efficiency and cost of production play a significant role in the growth of the Industry market.

https://www.marketsandmarkets.com/Market-Reports/industry-4-market-102536746.html

This report segments the Industry 4.0 market based on technology, vertical, and region. On the basis of technology, the market has been segmented into industrial robotics, cyber security, Internet of Things, 3D printing, advanced human–machine interface, big data, augmented reality & virtual reality, and artificial intelligence. Industrial robotics form an important part of implementing Industry 4.0, as they improve productivity, reduce chances of human errors, and increase the production volume. The increasing use of industrial robotics in the automotive sector is also a major reason for this technology to have the largest market share in the market.

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The Industry 4.0 market, on the basis of vertical, has been segmented into automotive, aerospace, industrial equipment, electrical & electronics equipment, healthcare, food & agriculture, chemicals & materials, oil & gas, and energy & power. The implementation of Industry 4.0 in the industrial equipment sector can help manufacturers in analyzing the machine conditions in advance to avoid unplanned downtime and wastage. Machine breakdown and unplanned downtime cause huge loss to industrial equipment manufacturers as they delay the production process. Thus, a need for preventive maintenance solutions is increasing significantly in this vertical. These advantages of Industry 4.0 solutions in the industrial equipment vertical have made it the fastest-growing sector during the forecast period.

Asia Pacific is expected to hold the largest share of the Industry 4.0 market during the forecast period. Governments of countries such as China, Japan, and India are promoting Industry 4.0 in their countries with initiatives such as Made in China 2025, Make in India, and Industrial Value Chain Initiative in Japan. Due to such favorable government policies, the APAC region is expected to grow at the highest rate during the forecast period. For instance, in October 2015, Infineon Technologies AG (Germany) announced the set-up of a smart factory in Wuxi (China) to accelerate the Made in China initiative in the country. Infineon is investing around USD 300 million for building a smart factory that primarily focuses on manufacturing of smart devices and IoT-based equipment.

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Key factors such as the lack of cost–benefit analysis and a shortage of skilled workforce are inhibiting the growth of this market. The companies covered in this report are General Electric Company (US), International Business Machines Corporation (US), Cisco Systems (US), Microsoft Corporation (US), Stratasys Ltd. (US), Alphabet Inc. (US), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Intel Corporation (US), Hewlett-Packard Enterprise Company (US), Siemens AG (Germany), Qualcomm Inc. (US), Samsung Electronics Co. Ltd. (South Korea), Texas Instruments Inc. (US), Rockwell Automation Inc. (US), 3D Systems Corporation (US), Cognex Corporation (US), Basler AG (Germany), Denso Group (Japan) and MAXST (South Korea). This report also includes major startups such as Arcadia Data Inc. (US), General Vision Inc. (US), Rethink Robotics Inc. (US), nGrain (Canada), and XJet (Israel).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Submitted by stevestark002 on Wednesday, 13 March 2019 at 3:35 PM
Category: Consumer Technology
 
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