The global industry 4.0 market size is projected to USD 165.5 billion by 2026 from USD 73.9 billion in 2022 at a compound annual growth rate (CAGR) of 20.6% during the forecast period. It was observed that the growth rate was 39.12% from 2021 to 2022. AI in Manufacturing is expected to grow at a highest CAGR of 49.07%.
The primary driving
factor of the industry 4.0 market are increasing adoption of automated
equipment and tools on manufacturing, warehouse, and factory floors, rising
investment towards additive manufacturing, and emergence of digital
technologies such as IoT, AI, ML, cloud services, 5G and many more, which in
turn, is expected to create sizable demand for the industry 4.0 industry.
Industry 4.0 Industry
Ecosystem
Different types of
technologies together make up the industry 4.0 ecosystem; these include AI in
Manufacturing, Industrial Sensors, Industrial Robots, Machine Vision, Human
Machine Interface, Digital Twin, Machine Condition Monitoring, Industrial 3D
Printing, and Automated Guided Vehicles. There has been an increased in demand
for computers, monitors, and network peripherals, and other wireless
connectivity solutions in last couple of years and it is proving to be a
pivoting point for digital adoption in the industrial as well commercial
sectors. Consumer are realizing the benefits of Industry 4.0 and thus its is
witnessing an exponential industry 4.0 market growth.
North America is
projected to grow at highest rate in the industry 4.0 market Share
North America is the fastest growing regions
in this market due to the continuous technological advancements, financial
support from governments in the region, and efforts to ensure real-time quality
control and real-time visibility across the manufacturing sector. The US has a large industrial base featuring
companies with high production capacity; it is thus expected to be the major
contributor to the industry 4.0 market in North America.
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Top Industry 4.0
Companies - Key Market Players
The industry 4.0 players
have implemented various types of organic as well as inorganic growth
strategies, such as new product launches,
and acquisitions to strengthen their offerings in the market. The major
players in the industry 4.0 market are
General Electric(US), Siemens (Germany), Honeywell International (US),
ABB (Switzerland), Emerson Electric (US), 3D Systems (US), Advantech (Taiwan),
Basler (Germany), Cisco Systems (US), Cognex Corporation (US), Daifuku (Japan),
IBM (US), Intel (US), John Bean Technologies Corporation (US), Nvidia (US),
Stratasys (Israel), Techman Robot (Taiwan), Universal Robots (Denmark), Addverb
Technologies (India), AIBrain (US), Algolux (Canada), Beckhoff Automation
(Germany), BigchainDB GmbH (Germany),
LogiLube (US), Pratiti Technologies (India), Sculpteo (France), Sigfox(France)
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