Industry 4.0 Market Industry Analysis, Size, Growth, Trends, and Outlook 2021- ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG (Kuka AG), Rockwell Automation

The Industry 4.0 Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a global and local scale. The structured analysis contains graphical as well as a diagrammatic representation of the global Industry 4.0 Market with its specific geographical regions.

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The industry 4.0 market was valued at USD 86.03 billion in 2020 and expected to reach USD 267.01 billion by 2026 and grow at a CAGR of 20.71% over the forecast period (2021 - 2026).

- The gradual increase in the number of connected devices, combined with the humongous growth in the volume of data from field devices and the changing technology landscape, has made it essential for companies to quickly adapt their products and services to the digital world.

- For instance, According to Cisco, India would have around 2.1 billion internet-connected devices by 2023. The country is expected to cross the 900 million mark of internet users in the country, according to the recently published Cisco Annual Internet Report (2018-2023), owing to the increased penetration of affordable smartphones and cheaper internet plans.

- Moreover, Industry 4.0 has persuaded OEMs to adopt IoT across their operations. Owing to the gradual increase in the adoption of IoT and digital transformation across several industries, the European Commission estimated that the value of IoT in Europe itself is expected to exceed EUR 1 trillion in 2020. Also, the Maryville University estimates that by 2025 over 180 trillion gigabytes of data will be created worldwide every year. IIoT-enabled industries will generate a large portion of this.

Top Leading Companies of Global Industry 4.0 Market are ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG (Kuka AG), Rockwell Automation Inc., Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International PLC, Emerson Electric Company, General Electric Company, Cisco Systems Inc., Intel Corporation, Fanuc Corporation, Denso Corporation

Market Overview

Industrial Robots are Expected to Witness Maximum Adoption

- Industrial robots play a vital role in the digitalization of manufacturing, as it aids in the creation of a virtual and connected ecosystem. Furthermore, it collects data associated with equipment, which is used to enhance the efficiency and scheduling. It also helps in predicting and mitigating any unforeseen error.

- For more organizations, using Industry 4.0 technologies, like robotization, is a part of day-to-day operations. For instance, project and office furniture manufacturer Vepa uses robotization in its warehouse, helping it to double the turnover. It is expected that there would be increased use of collaborative robots in manufacturing.

- According to the International Federation of Robotics, the market for collaborative robots is expected to reach USD 12.3 billion by 2025. Intelligent robots work alongside workers and can be programmed by most factory workers to take on the most routine, tedious tasks, and deliver with accuracy.

- Collaborative robots have become increasingly used in the manufacturing industry, as they are easy to train, and are making workplace environments safer for humans, by taking their place in potentially dangerous situations. According to IFR, the operational stock of industrial robots is expected to reach 3,788 thousand units by 2021 from 2,408 thousand units in 2018.

Competitive Landscape

- Oct 2020 - Intel Federal LLC announced a three-year agreement with Sandia National Laboratories (Sandia) to explore the value of neuromorphic computing for scaled-up computational problems. Sandia will kick off its research using a 50-million neuron Loihi-based system that was delivered to its facility in Albuquerque, New Mexico. The application of Loihi is expected to be limitless, which could be used in smart automotive and sensing mechanisms.

- March 2020 - Cisco Systems and Microsoft announced a partnership to enable seamless data orchestration from Cisco IoT Edge to Azure IoT Cloud. One of the outcomes of this collaboration would be to provide customers a pre-integrated IoT edge-to-cloud application solution.

KEY MARKET BENEFITS FOR STAKEHOLDERS

─The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

─This report provides an in-depth analysis of the Global Industry 4.0 market to identify the potential investment pockets.

─It outlines the current trends and future scenarios to determine the Industry 4.0 market potential and gain stronger market foothold.

─Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.

─Quantitative analysis of the Industry 4.0 industry from 2015 to 2025 is highlighted to recognize the financial competency of the market.

─Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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