Global Industry 4.0 Market to Reach $219.8 Billion by 2026

Industry 4.0 (i4.0), the fourth industrial revolution, defines the new age of intelligent factory and smart manufacturing processes. Also referred to as Industrie 4.0, because of being first conceived and implemented by Germany, i4.0 involves the integration of automation techniques and connected objects for revolutionizing the factory floor. i4.0 functions in the form of a subset of the Internet of Things (IoT) and spans all facets of industrial development. In an i4.0-enabled manufacturing environment, different manufacturing processes are inter-connected through industrial protocols to generate intelligent data. The dynamic engineering and business processes of such a manufacturing environment enable end-process changes during production, thereby responding flexibly in the event of suppliers failing to fulfill the supply orders.

i4.0 is a concept in which manufacturing facilities are fitted with state-of-the-art sensors and wireless technologies which visualize and display the entire manufacturing process. These sensors and wireless technologies are integrated with various technologies, including artificial intelligence (AI), the IoT, machine learning and cloud computing. The integrated use of these technologies by an i4.0-enabled manufacturing environment enables the manufacturers to make well informed business decisions and improve their production efficiency. By optimizing technology and material usage, as well as asset performance, an i4.0-enabled manufacturing environment enhances the profitability of businesses.

Amid the COVID-19 crisis, the global market for Industry 4.0 estimated at US$90.6 Billion in the year 2020, is projected to reach a revised size of US$219.8 Billion by 2026, growing at a CAGR of 16.5% over the analysis period. Internet of Things, one of the segments analyzed in the report, is projected to record a 17.3% CAGR and reach US$68.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial Robotics segment is readjusted to a revised 18.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $25.5 Billion in 2021, While China is Forecast to Reach $40.9 Billion by 2026

The Industry 4.0 market in the U.S. is estimated at US$25.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$40.9 Billion by the year 2026 trailing a CAGR of 20.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.7% and 14.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.3% CAGR.

The growth of the market is being propelled by the increasing awareness among businesses of the several advantages that these technologies offer. Other factors spurring the projected growth within the worldwide market for i4.0 technologies include the increasing implementation of the Industrial Internet of Things (IIoT); the increasing demand for efficient and cost effective manufacturing processes from a wide range of industries; and the significant increase in the demand for automation systems for enhancing the quality of finished goods. Additional factors powering the market`s growth include innovations and technological advancements in additive printing technology; and advancements in smart sensing technologies and controls. Additionally, the increasing trend of automating manufacturing facilities, together with the increasing demand for energy-efficient machinery and processes, together with the IoT-enabled sensors` integrated computing capabilities, are also projected to fuel the growth of the worldwide market for i4.0 technologies. Furthermore, IoT sensors, smart devices, and data collection are leveraged by i4.0-based systems for improving operational efficiency, a factor that is also expected to provide significant opportunities for growth of the worldwide i4.0 market. In the coming 10 years, businesses would set-up global networks incorporating their production facilities, machinery and warehousing systems as cyber-physical systems. Such systems, in the production environment, consist of storage systems, production facilities, and smart machines that could exchange information autonomously, and exercise independent control over each other. These changes provide huge opportunities for optimization of manufacturing and production processes. On the flip side, such changes put manufacturers under conventional business pressure

3D Printing Segment to Reach $33.7 Billion by 2026

In the global 3D Printing segment, USA, Canada, Japan, China and Europe will drive the 16.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.5 Billion in the year 2020 will reach a projected size of US$33 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.4 Billion by the year 2026.