Industry 4.0 market worth $165.5 billion by 2026

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IoT is expected to hold the largest market share of the Industry 4.0 market during the forecast period

Northbrook, April 4, 2022 (GLOBE NEWSWIRE) — According to new market research report “Industry 4.0 Market By Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV, Machine Health Monitoring) and Geography: Global Forecast to 2026″, The Industry 4.0 market is projected to grow from USD 64.9 billion in 2021 to USD 165.5 billion by 2026; it is expected to grow at a CAGR of 20.6% between 2021 and 2026.

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Explore the detailed table of contents at “Industry 4.0 Market”

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The growing adoption of Industrial Internet across the globe in manufacturing units and the increasing focus on improving the efficiency of machinery and systems and reducing production costs play a significant role in the growth of the market across the world. Furthermore, the increasing demand for industrial robotics is expected to drive the growth of the Industry 4.0 market.

The 5G market is expected to commercialize by the end of 2019 and is expected to grow at the highest CAGR during the forecast period.

The speed and reliability of 5G is expected to have a massive impact on M2M and IoT. The key reasons for the increased adoption of new M2M technologies are better connectivity for seamless communication and low power consumption. To achieve effective machine-to-machine communication, the existing capacity of mobile networks must be able to handle the billions of nodes that are expected to scale in the next two years. Currently, the network capacity is inefficient to handle M2M and human-based communications, as well as their different communication patterns, such as latency time.

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IoT is expected to hold the largest market share of the Industry 4.0 market during the forecast period

The Internet of Things (IoT) in the industrial sector has given rise to a new concept known as the Industrial Internet of Things (IIoT), also known as the Industrial Internet or Industry 4.0. Industrial IoT brings together the advances of two transformative revolutions, namely the myriad machines, facilities, fleets, and networks that emerged from the industrial revolution and the most recent powerful advances in Internet-driven computing, information, and communication systems. . revolution.

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APAC is expected to hold the largest market share of the Industry 4.0 market during the forecast period

An increase in the adoption of robotics in countries such as China, Japan and South Korea is among the main factors leading to the growth of the Industry 4.0 market in APAC. Furthermore, the low cost of production in APAC countries allows manufacturers to establish manufacturing facilities in this region. APAC is projected to grow at the fastest rate, considering continued technological advances and financial support from governments in the region, as well as a broad industrial base, with Japan and China the largest contributors. China has been working on an innovative industrial practice by implementing automation technologies in manufacturing companies.

The major players in the Industry 4.0 market are ABB (Switzerland), Mitsubishi (Japan), Yaskawa (Japan), KUKA (Germany), FANUC (Japan), General Electric (USA), IBM (USA) , Cisco (US), Microsoft (US), Stratasys (US), Google (US), Intel (US), HP (US), Siemens (Germany), Ansys (USA), AIBrain (USA), SAP (USA), Amazon Web Services (USA), and General Vision (USA).