#Industry 4.0 Market

[tamanna31]

Industry 4.0 Market Share, Supply, Sales, Manufacturers, Competitor and Consumption 2023 to 2030

Industry 4.0 Industry Overview

The global Industry 4.0 market size was estimated at USD 146.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.9% from 2023 to 2030. 

The factors driving the market growth include increasing adoption of automated equipment & tools on factory floors, warehouses, and manufacturing; rising investment toward addictive manufacturing units; and growing digitalization trends globally. Moreover, the emergence of cutting-edge digital technologies like Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT), 5G connectivity, and cloud-based services, among others contribute to the thriving landscape of the market. These converging factors are projected to create lucrative growth opportunities for the market.

Gather more insights about the market drivers, restrains and growth of the Industry 4.0 Market

Industries are increasingly subject to stringent regulations related to product safety, quality standards, environmental impact, and data privacy. These technologies enable end-users to effectively comply with these regulations by providing real-time monitoring, traceability, and quality control mechanisms. The end-use compliance issues are categorized into process and product compliance. Industry 4.0 practices are ideal for companies aiming to achieve time and quality metrics at reduced costs. Digitization of production aids in numerous tasks, such as engineering changes, risk assessment, process improvement, improving process visibility, and providing data on demand. Therefore, the need for compliance to gain a competitive edge is expected to act as a significant growth driver for the market.

The adoption of IIoT technologies is a significant opportunity in the market. By connecting industrial equipment, sensors, and devices, companies can gather real-time data and enable machine-to-machine communication. This data can be used to optimize production processes, reduce downtime, and improve overall operational efficiency. As the systems become more connected, ensuring the security of industrial networks and data becomes crucial. The increasing complexity of the industrial ecosystem creates opportunities for cybersecurity solutions and services. Companies can develop robust cybersecurity frameworks, implement secure communication protocols, and offer solutions to protect against cyber threats, thereby addressing the growing demand for secure systems.

The combination of robotics & automation with the IoT results in IoT-enabled robotics, enabling remote monitoring and predictive maintenance, driving efficiency through data-driven insights. Innovations in fleet management and robot swarms are shaping industries, such as logistics and warehousing, by orchestrating coordinated robot actions. Simultaneous localization and mapping (SLAM) technology empowers robots to navigate complex environments autonomously, underpinning applications like autonomous vehicles and drones. Wearable robotics boost human capabilities, particularly in sectors where physical assistance is pivotal, like healthcare and manufacturing. Leveraging digital twins for robot design and optimization expedites development while refining performance.

Enhanced human-robot interaction and user interfaces underscore the seamless integration of robots into various industries. These concepts work together to illustrate the development of industrial robots and automation, revolutionizing manufacturing efficiency, enhancing human skills, and spurring innovation across industries. The market landscape is significantly influenced by AI and ML technology trends. Within this trend, several key developments stand out. Predictive analytics and maintenance leverage AI and ML to foresee and prevent equipment breakdowns, optimizing maintenance schedules. Anomaly detection and quality control utilize these technologies to identify irregularities in manufacturing, ensuring product excellence swiftly. In addition, supply chain and inventory optimization benefit from AI-driven algorithms that enhance efficiency by refining inventory management and logistics.

In August 2023, Telefonaktiebolaget LM Ericsson and RMIT University collaborated to establish the RMIT & Ericsson AI Lab at RMIT's Hanoi campus in Vietnam. This initiative builds upon their existing 5G education partnership, to educate Vietnamese students about 5G and emerging technologies including AI, machine learning, and blockchain. The use of artificial intelligence in Industry 4.0 projects is becoming increasingly prevalent in Vietnam. The deployment of 5G, Ericsson, and RMIT are now able to assist business, academic, and neighborhood partners in developing and implementing AI solutions that will help drive the adoption of Industry 4.0 across a range of sectors. This will benefit industries, such as energy, manufacturing, agriculture, transport, and logistics.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

The global AI in aerospace and defense market size was valued at USD 22.45 billion in 2023 and is projected to grow at a CAGR of 9.8% from 2024 to 2030.

The global aviation software market size was estimated at USD 10.68 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030.  

Key Companies & Market Share Insights

The key players in the market often include technology innovators, solution providers, and research institutions. These players contribute to the development of advanced manufacturing, automation, IoT, AI, and data analytics solutions. Their efforts drive the transformation of industries through digitization and smart technologies, impacting supply chains, production processes, and customer experiences. They also encompass software developers, hardware manufacturers, etc. as these entities collaborate to create integrated solutions that optimize production efficiency, enhance predictive maintenance capabilities, enable real-time monitoring, etc.

In addition, regulatory bodies and standardization organizations play a crucial role in shaping the framework and guidelines for the ecosystem. For instance, In August 2023, Denso Corporation acquired a full stake in Certhon Group, a horticultural facility operator. The aim of this acquisition is to further accelerate their efforts to solve global food challenges by leveraging the strengths of both companies and the results of their past collaboration. Some prominent players in the global Industry 4.0 market include:

ABB LTD.

Cisco Systems Inc.

Cognex Corporation

Denso Corporation

Emerson Electric

Fanuc Corporation

General Electric Company

Honeywell International Inc.

Intel Corporation

Johnson Controls International

Kuka Group

Robert Bosch GmbH

Rockwell Automation Inc.

Schneider Electric SE

Siemens AG

Order a free sample PDF of the Industry 4.0 Market Intelligence Study, published by Grand View Research.

[industrynewsupdates]

Industry 4.0 Market Leading Players Updates and Growth Analysis, 2030

The global Industry 4.0 market size was estimated at USD 146.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 19.9% from 2023 to 2030. 

The factors driving the market growth include increasing adoption of automated equipment & tools on factory floors, warehouses, and manufacturing; rising investment toward addictive manufacturing units; and growing digitalization trends globally. Moreover, the emergence of cutting-edge digital technologies like Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT), 5G connectivity, and cloud-based services, among others contribute to the thriving landscape of the market. These converging factors are projected to create lucrative growth opportunities for the market.

Gather more insights about the market drivers, restrains and growth of the Industry 4.0 Market

Industries are increasingly subject to stringent regulations related to product safety, quality standards, environmental impact, and data privacy. These technologies enable end-users to effectively comply with these regulations by providing real-time monitoring, traceability, and quality control mechanisms. The end-use compliance issues are categorized into process and product compliance. Industry 4.0 practices are ideal for companies aiming to achieve time and quality metrics at reduced costs. Digitization of production aids in numerous tasks, such as engineering changes, risk assessment, process improvement, improving process visibility, and providing data on demand. Therefore, the need for compliance to gain a competitive edge is expected to act as a significant growth driver for the market.

The adoption of IIoT technologies is a significant opportunity in the market. By connecting industrial equipment, sensors, and devices, companies can gather real-time data and enable machine-to-machine communication. This data can be used to optimize production processes, reduce downtime, and improve overall operational efficiency. As the systems become more connected, ensuring the security of industrial networks and data becomes crucial. The increasing complexity of the industrial ecosystem creates opportunities for cybersecurity solutions and services. Companies can develop robust cybersecurity frameworks, implement secure communication protocols, and offer solutions to protect against cyber threats, thereby addressing the growing demand for secure systems.

The combination of robotics & automation with the IoT results in IoT-enabled robotics, enabling remote monitoring and predictive maintenance, driving efficiency through data-driven insights. Innovations in fleet management and robot swarms are shaping industries, such as logistics and warehousing, by orchestrating coordinated robot actions. Simultaneous localization and mapping (SLAM) technology empowers robots to navigate complex environments autonomously, underpinning applications like autonomous vehicles and drones. Wearable robotics boost human capabilities, particularly in sectors where physical assistance is pivotal, like healthcare and manufacturing. Leveraging digital twins for robot design and optimization expedites development while refining performance.

Enhanced human-robot interaction and user interfaces underscore the seamless integration of robots into various industries. These concepts work together to illustrate the development of industrial robots and automation, revolutionizing manufacturing efficiency, enhancing human skills, and spurring innovation across industries. The market landscape is significantly influenced by AI and ML technology trends. Within this trend, several key developments stand out. Predictive analytics and maintenance leverage AI and ML to foresee and prevent equipment breakdowns, optimizing maintenance schedules. Anomaly detection and quality control utilize these technologies to identify irregularities in manufacturing, ensuring product excellence swiftly. In addition, supply chain and inventory optimization benefit from AI-driven algorithms that enhance efficiency by refining inventory management and logistics.

In August 2023, Telefonaktiebolaget LM Ericsson and RMIT University collaborated to establish the RMIT & Ericsson AI Lab at RMIT's Hanoi campus in Vietnam. This initiative builds upon their existing 5G education partnership, to educate Vietnamese students about 5G and emerging technologies including AI, machine learning, and blockchain. The use of artificial intelligence in Industry 4.0 projects is becoming increasingly prevalent in Vietnam. The deployment of 5G, Ericsson, and RMIT are now able to assist business, academic, and neighborhood partners in developing and implementing AI solutions that will help drive the adoption of Industry 4.0 across a range of sectors. This will benefit industries, such as energy, manufacturing, agriculture, transport, and logistics.

Industry 4.0 Market Segmentation

Grand View Research has segmented the Industry 4.0 market report based on component, technology, Industry vertical, and region:

Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware

• Software

• Services

Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Industrial Internet of Things (IIoT)

• Robotics & Automation

• Artificial Intelligence & Machine Learning (AI & ML)

• Big Data & Advanced Analytics

• Additive Manufacturing

• Augmented Reality & Virtual Reality (AR & VR)

• Digital Twin & Simulation

• Blockchain & Secure Data Exchange

• Others

Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• Manufacturing

• Petrochemicals

• Automotive

• Energy & Utilities

• Oil & Gas

• Food & Beverage

• Aerospace & Defense

• Others

Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o UK

o France

o Italy

o Spain

• Asia Pacific

o China

o Japan

o India

o South Korea

• Latin America

o Brazil

o Mexico

• Middle East and Africa

o UAE

o Saudi Arabia

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global AI in aerospace and defense market size was valued at USD 22.45 billion in 2023 and is projected to grow at a CAGR of 9.8% from 2024 to 2030.

• The global aviation software market size was estimated at USD 10.68 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030.  

Key Companies & Market Share Insights

The key players in the market often include technology innovators, solution providers, and research institutions. These players contribute to the development of advanced manufacturing, automation, IoT, AI, and data analytics solutions. Their efforts drive the transformation of industries through digitization and smart technologies, impacting supply chains, production processes, and customer experiences. They also encompass software developers, hardware manufacturers, etc. as these entities collaborate to create integrated solutions that optimize production efficiency, enhance predictive maintenance capabilities, enable real-time monitoring, etc.

In addition, regulatory bodies and standardization organizations play a crucial role in shaping the framework and guidelines for the ecosystem. For instance, In August 2023, Denso Corporation acquired a full stake in Certhon Group, a horticultural facility operator. The aim of this acquisition is to further accelerate their efforts to solve global food challenges by leveraging the strengths of both companies and the results of their past collaboration. Some prominent players in the global Industry 4.0 market include:

• ABB LTD.

• Cisco Systems Inc.

• Cognex Corporation

• Denso Corporation

• Emerson Electric

• Fanuc Corporation

• General Electric Company

• Honeywell International Inc.

• Intel Corporation

• Johnson Controls International

• Kuka Group

• Robert Bosch GmbH

• Rockwell Automation Inc.

• Schneider Electric SE

• Siemens AG

Order a free sample PDF of the Industry 4.0 Market Intelligence Study, published by Grand View Research.

[imarcresearchreport]

The global industry 4.0 market size reached US$ 139.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 547.1 Billion by 2032, exhibiting a growth rate (CAGR) of 16% during 2024-2032. The increasing trend of digitization, continuous advancements in technologies such as the Internet of Things (IoT), artificial intelligence (AI), and robotics, and significant investments in extensive research and development (R&D) activities are some of the major factors propelling the market.

[robertemma27-blog]

Sustainable Digital Transformation & Future of Industry 4.0

The march of progress has brought us to the future of Industry 4.0, a dynamic industrial revolution driven by digitalization and smart tech. While Industry 4.0 trends are reshaping how we approach manufacturing and business, integrating advanced technologies like AI, IoT, and robotics, these aren't just upgrades; they're revolutionizing every aspect of the industrial world.

One key aspect of this revolution is that digital transformation and Industry 4.0 work hand in hand. The Industry 4.0 digital supply chain transformation is a prime example of this synergy, showcasing how tech can make operations more efficient and responsive. But it's not just about technology; the industry 4.0 market is growing, indicating a larger shift towards smarter industry practices. Yet, as we look at the Industry 4.0 forecast, it's clear that sustainability is the trend that stands out. It's essential for future growth of Industry 4.0 and aligns perfectly with the principles of Industry 4.0. Sustainable practices are becoming a priority for industry 4.0 vendors, highlighting a shift towards more responsible and efficient resource use.

In this episode of Disruption Dialogues Podcast, our speaker, Sanjay Kaul, President-Asia Pacific & Japan, Cisco, and host Aashish Mehra, Chief Research Officer, MarketsandMarkets, explore how Industry 4.0 is shaping up to be more than just a technological leap forward. It's a move towards a smarter, more sustainable industrial future.

The Growth and Future of Industry 4.0

The Industry 4.0 market is burgeoning, with forecasts suggesting significant expansion in the coming years. This growth is fueled by digital transformation and Industry 4.0, where traditional industrial practices are being reshaped by technology. As we delve into this future, it becomes evident that sustainability must be intertwined with our technological advancements. Industry 4.0 is evolving to focus on efficiency, automation, and sustainable practices that can support long-term ecological and economic goals.

"You know the consuming energy, and I think where we need to get to is on that balance sheet analogy, we need to get to the position where semiconductors are driving the sustainability model in the future. So, some areas where the Bing is active clearly as we move away from conventional vehicles' internal combustion engines are producing a lot of pollution. So much CO2 emissions at the point of use as we're moving towards electric traction semiconductors are driving that," says Kaul.

A Futuristic Glimpse into Industry 4.0 Trends and Supply Chain Transformations

Several key influential Industry 4.0 trends are shaping the future of this aspect on a larger scale. Integrating AI and machine learning in industrial processes, for instance, optimizes operations and paves the way for smarter, more sustainable practices. Industry 4.0 vendors play a critical role here, providing the tools and technologies necessary for this transformation. These trends highlight a shift towards more responsible and efficient use of resources, underlining the role of technology in achieving sustainable development.

"We're consuming energy by building their telecom networks, so we need to get to a smart place where semiconductors are central. We need to reach a smart conclusion where semiconductors drive down energy usage and a sustainable existence."? –Kaul adds.

Moreover, a pivotal aspect of Industry 4.0 is transforming the digital supply chain. Businesses leverage Industry 4.0 technologies to create more resilient, transparent, and efficient supply chains. This transformation is not just about improving the bottom line; it's about creating sustainable and adaptable systems to changing global conditions. Digital supply chain transformation is a cornerstone in the journey towards a more sustainable and technologically advanced industrial world.

[chandupalle]

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 CAGR of 20.6% during the forecast period.

[seoexpertswizard]

Unveiling the Future of Industry 4.0: Market Trends and Insights

In today's fast-paced and ever-evolving business landscape, industries are constantly seeking innovative solutions to improve efficiency, reduce costs, and stay ahead of the competition. One such transformative phenomenon that has been reshaping the industrial sector is Industry 4.0. The global Industry 4.0 market has witnessed remarkable growth. This article will delve into the intricacies of the Industry 4.0 market, exploring its current state, growth prospects, key drivers, and future trends.

Industry 4.0 Market Overview

As of 2023, the global Industry 4.0 market had reached an impressive valuation of nearly USD 83 billion. Industry 4.0, often referred to as the fourth industrial revolution, represents a convergence of digital technologies, data analytics, and automation in manufacturing and industrial processes. It empowers businesses to enhance productivity, optimize operations, and drive innovation.

Industry 4.0 Market Growth Projections

The Industry 4.0 market is poised for significant growth in the forecast period from 2024 to 2032. Analysts project a remarkable Compound Annual Growth Rate (CAGR) of 18%, which is expected to propel the market to nearly USD 224 billion by 2032. This substantial growth highlights the increasing adoption of Industry 4.0 technologies across various industries worldwide.

Key Drivers of Industry 4.0 Market Growth

Several factors are fueling the growth of the Industry 4.0 market:

Digital Transformation: Organizations are increasingly recognizing the importance of digital transformation in staying competitive. Industry 4.0 solutions offer the tools and technologies necessary for this transformation, including IoT (Internet of Things) devices, cloud computing, and advanced analytics.

Cost Efficiency: Implementing Industry 4.0 technologies can lead to significant cost savings through improved resource utilization and predictive maintenance, reducing downtime and operational expenses.

Enhanced Productivity: Automation and smart manufacturing processes enable higher production efficiency, shorter lead times, and improved quality control, ultimately boosting productivity.

Data-Driven Decision-Making: Industry 4.0 solutions provide businesses with vast amounts of data that can be harnessed for informed decision-making. Predictive analytics and machine learning algorithms help optimize processes and anticipate issues.

Competitive Advantage: Staying at the forefront of technological advancements in Industry 4.0 gives companies a competitive edge, as they can respond faster to market changes and customer demands.

Environmental Sustainability: Industry 4.0 can also contribute to sustainability goals by optimizing energy consumption, reducing waste, and improving overall resource efficiency.

Key Components of Industry 4.0

The Industry 4.0 ecosystem comprises several essential components that work together to revolutionize industrial processes:

IoT Devices: These interconnected devices collect data from machines and sensors, facilitating real-time monitoring and analysis.

Big Data Analytics: Advanced analytics tools process vast datasets to extract valuable insights, enabling data-driven decision-making.

Cloud Computing: Cloud platforms provide scalable storage and computing power, making it easier to manage and analyze data from various sources.

Artificial Intelligence (AI) and Machine Learning: AI algorithms can analyze data patterns, predict equipment failures, and optimize production processes autonomously.

Augmented Reality (AR) and Virtual Reality (VR): AR and VR technologies enhance training, maintenance, and design processes by providing immersive and interactive experiences.

Cybersecurity: With increased connectivity, robust cybersecurity measures are critical to protect sensitive data and industrial systems from cyber threats.

Industry 4.0 Market Segmentation

The Industry 4.0 market can be segmented based on various factors:

Technology: Segmentation by technology includes IoT, AI, blockchain, and others.

End-User Industry: The market serves sectors like manufacturing, automotive, aerospace, healthcare, and more.

Region: Different regions around the globe are adopting Industry 4.0 technologies at varying rates, leading to regional market disparities.

Future Trends in Industry 4.0

The Industry 4.0 landscape is continuously evolving, with several noteworthy trends shaping its future:

5G Connectivity: The rollout of 5G networks will enhance the speed and reliability of data transmission, enabling more responsive and efficient Industry 4.0 systems.

Edge Computing: Edge computing brings data processing closer to the data source, reducing latency and improving real-time decision-making.

Human-Machine Collaboration: As AI and automation become more prevalent, human-machine collaboration will play a pivotal role in the workforce.

Sustainable Manufacturing: Eco-friendly manufacturing processes and sustainable practices will gain prominence in the Industry 4.0 era.

Customization and Personalization: Industry 4.0 enables the customization of products and services at scale, catering to individual customer preferences.

Cross-Industry Collaboration: Collaborative efforts between industries will lead to innovative solutions and the sharing of best practices.

Key Industry Players in the Global Industry 4.0 Market:

The global Industry 4.0 market is characterized by intense competition and the presence of several key industry players who are at the forefront of driving innovation and shaping the future of manufacturing and industrial processes. Here, we'll take a closer look at some of the prominent companies leading the way in the Industry 4.0 landscape:

ABB Ltd.: ABB is a multinational corporation specializing in robotics, automation, and electrical equipment. The company provides a wide range of solutions for Industry 4.0, including robotics and automation systems, industrial IoT, and smart grid technologies. ABB's commitment to sustainability and innovation has positioned it as a leader in the field.

Rockwell Automation, Inc.: Rockwell Automation is a global leader in industrial automation and digital transformation. The company offers a comprehensive suite of solutions, including industrial control systems, software, and analytics, designed to optimize manufacturing processes and enhance productivity.

Schneider Electric: Schneider Electric is a leading provider of energy management and industrial automation solutions. The company's EcoStruxure platform integrates IoT, analytics, and energy management to help industries improve efficiency, reliability, and sustainability.

Cisco Systems Inc.: Cisco is a technology giant known for its networking solutions. In the context of Industry 4.0, Cisco offers a range of networking and cybersecurity solutions that are crucial for enabling secure and seamless communication within smart manufacturing environments.

Intel Corporation: Intel is a global technology leader, and its contributions to Industry 4.0 go beyond just providing processors. Intel offers a wide array of IoT and edge computing solutions that empower businesses to harness the power of data for real-time decision-making and process optimization.

Others

These key players, along with numerous others, are driving innovation and pushing the boundaries of what's possible in the realm of Industry 4.0. Their products and services play a vital role in helping industries transition towards more efficient, data-driven, and sustainable operations.

It's important to note that the Industry 4.0 landscape is dynamic and continuously evolving, with new entrants and startups also making significant contributions. As technology advances and the demand for smart manufacturing solutions grows, the competition is expected to intensify, further accelerating the development and adoption of Industry 4.0 technologies worldwide.

Media Contact:

Company Name: Claight Corporation Contact Person: John Millence, Business Consultant Email: sales@expertmarketresearch.com Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790 Address: 30 North Gould Street, Sheridan, WY 82801, USA Website: www.expertmarketresearch.com

[creativeera]

IoT in Manufacturing Market is Estimated to Witness High Growth Owing to Need for Streamlining Operations

The IoT in manufacturing market involves connecting and integrating physical devices, sensors, and other smart objects into the manufacturing operations through the use of networking and cloud technologies. It enables the collection of information from various manufacturing equipment and assets and utilizes analytics tools to analyze the collected data to optimize operations. IoT allows manufacturers to drive improvements in equipment performance, reduce downtime, improve quality control, and optimize logistics and inventory management. The advantages of IoT in manufacturing include increased productivity, predictive maintenance, asset monitoring, inventory management, and energy management. The need for streamlined operations, improved asset utilization, and reduced maintenance costs through advanced monitoring and predictive analytics is fueling the demand for IoT in manufacturing. The global IoT in manufacturing market size was valued at US$ 198.8 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 18.4% from 2023 to 2030. Key Takeaways Key players operating in the IoT in Manufacturing are EnableX.io (VCLOUDX PTE. LTD), Twilio Inc., Infobip Ltd., Vonage Holdings Corp, M800 Limited, MessageBird BV, Iotum Inc., Plivo Inc., Voxbone SA, Snich AB, Telestax, Voximplant (Zingaya Inc.), Mitel Networks Corporation, 8x8 Inc., AT&T Inc., Voxvalley Technologies, Avaya Inc., Bandwidth Inc. (Bandwidth.com), Wazo Communication Inc., and IntelePeer Cloud Communications. These players are focusing on developing advanced IoT solutions and services for manufacturing applications. The key opportunities in the Iot In Manufacturing Market Forecast include predictive maintenance through condition monitoring of equipment, remote asset management through sensors and connectivity, improving supply chain visibility, and optimizing energy consumption. Adoption of advanced analytics is also opening up new revenue streams through data monetization. North America is expected to continue dominating the global IoT in manufacturing market during the forecast period owing to the presence of many global players and early adoption. However, Asia Pacific is expected to witness the highest growth attributed to increasing investments by governments and manufacturers in smart factory initiatives to drive industry 4.0. Countries like China, India, Japan, and South Korea are emerging as global manufacturing hubs and rapidly adopting IoT technologies. Market drivers The key driver fueling the growth of IoT in manufacturing is the need for streamlining operations through real-time data collection, monitoring, and analytics. IoT allows connecting all manufacturing assets and enables data-driven decision making for predictive maintenance, quality control, inventory management, and production planning. This helps reduce downtime, save costs, improve overall equipment effectiveness, and enhance operational efficiency. IoT also enables remote asset management and driving energy efficiency initiatives through connected smart systems and remote asset performance monitoring.

PEST Analysis Political: IoT in manufacturing market is affected by government regulations around data privacy and security. Stricter privacy laws make it challenging for businesses to collect and use customer data. On the other hand, regulations supporting industry digitization creates opportunities for IoT solutions. Economic: Factors like global economic growth, industrial production levels, and investment in automation impact demand for IoT systems in manufacturing. During recessionary periods, organizations may delay IoT deployments to control costs. Social: Younger workforce is more receptive to new technologies. Skill gaps challenge wider IoT adoption. Awareness programs help promote social acceptance of advanced manufacturing technologies. Technological: Emerging technologies like AI, 5G, edge computing, and blockchain offer new possibilities for optimizing manufacturing processes. However, integrating legacy systems with advanced IoT platforms poses technological challenges. Security also remains a key concern with expanding network connectivity. The geographical regions where the IoT in manufacturing market is concentrated in terms of value are North America and Europe. North America accounts for the largest share mainly due to early adoption of Industry 4.0 technologies by US factories. The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is because key developing economies like China and India are making heavy investments to automate their manufacturing industries using industrial IoT solutions. China's "Made in China 2025" initiative advocates implementation of IoT, robotics, and other innovative technologies across manufacturing sectors.

Get more insights on Iot In Manufacturing Market

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

[trendingreportz]

Brazil Industry 4.0 Market - Forecast(2024 - 2030)

Brazil Industry 4.0 Market Overview

Brazil Industry 4.0 Market size is forecasted to reach $6230.29 million by 2027, growing at a CAGR of 10.91% during the forecast period from 2022-2027. Industry 4. has become vital for all organizations owing to paradigm shift towards real time or near real-time process monitoring in the industrial sector. The growing emphasis towards high-speed machine-to-machine (M2M) communication on the factory floor coupled with the increasing investment in plant digitalization is set to drive the Brazil Industry 4.0 Market growth during the forecast period. In addition to this, adoption of various advanced technologies including augmented reality, cloud computing, enterprise resource planning, internet of things, robotics and others; across industry verticals such as oil and gas, transportation, energy, mining, utilities and so on, is set to drive system integration service market growth. Increasing penetration of industry 4.0 across the globe combining artificial intelligence, big data and analytics, 4G, 5G with operational technology as a part of addressing worker safety, optimizing field operations, and boosting maintenance productivity along with process efficiency in industrial environments is considered vital in driving the growth of Brazil industry 4.0 industry.

Report Coverage

The report: “Brazil Industry 4.0 Market Report– Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Brazil Industry 4.0 Market.

By Offerings: Hardware, Software and Services (System Integration Services, Testing & Certification, Maintenance and Operational Services, Consulting and Others).

By Technology: Artificial Intelligence, Machine-to-Machine, Big Data and Analytics, Augmented Reality & Virtual Reality, Autonomous Robots, SCADA, Simulation, Horizontal and vertical System Integration, Cloud Computing, Cyber Security, Internet of Things (IoT), Digital Twin, Advanced human-machine interfaces (HMI), Additive Manufacturing (3D Printing) and Others.

By End-User: General Manufacturing, Transportations & Logistics, Medical & Pharmaceutical, Metal & Mining, Oil & Gas (Upstream, Midstream and Downstream), Automotive & Tire, Aerospace & Defence, Food & Beverage, Electronics & Semiconductors, Power (Power Generation, Power Distribution and Power Transmission), Construction, Agriculture (Seeding and Weeding, Monitoring, Fertilizer Application, Harvesting, Pruning, and Others), Water & Wastewater Treatment, Paper & Pulp, Chemical and Others.

Request Sample

Key Takeaways

Big Data & Analytics held a significant market share in 2021 and is estimated to be the fastest segment during 2022-2027, owing to the shift of Brazil towards Industry 4.0, with industries such as oil, gas, minerals, and agriculture through the adoption of big data & analytics.

The market of Brazil Industry 4.0 is estimated to witness a significant upsurge during the forecast period, owing to the increasing adoption of advanced technologies such as predictive maintenance, data analytics, digital twins, artificial intelligence and others in the Oil & Gas sector.

This industry is consolidated with top market players including Iastech Automação De Sistemas Ltda, Simatec Tecnologia em Automacao Ltda, Techplus Automacao, Automind Automação, Greylogix Brasil among others.

Brazil Industry 4.0 Market Segment Analysis - by Offerings

Brazil's Industry 4.0 market is segmented into Hardware, Software and Services, based on offerings. According to the Brazil Industry 4.0 Market report of IndustyrARC, the Hardware segment held the major market share in 2021 of $1659.71 million and is estimated to reach $2978.08 million in 2027, with a CAGR of around 10.19% during the forecast period 2022-2027. The growth of this segment is mainly driven by the increasing adoption of industry 4.0 across industries and a growing inclination toward digitalization along with increasing investment. Furthermore, Industry standards that achieve higher levels of security to enable connected solutions in the factory are driving the need for hardware security. This is expected to boost market growth. The increasing popularity and high penetration rate among the end-user industries play a major role in offering incentives to the market players to take various strategic steps. For instance, in February 2021, ABB introduced the SWIFTI cobot, which combines a payload of 4 kg and a reach of up to 580 mm with the advantages of safe collaborative operation and convenience of use. This will offer up new opportunities for increased efficiency in a variety of sectors ranging from manufacturing to logistics and beyond, allowing more organizations to embrace automation. Such developments fuel the growth rate Brazil Industry 4.0 Market in the forecast period 2022-2027.

Inquiry Before Buying

Brazil Industry 4.0 Market Segment Analysis - by Technology

By Technology, the Brazil Industry 4.0 Market is segmented into Artificial Intelligence, Machine-to-Machine, Big Data and Analytics, Augmented Reality & Virtual Reality, Autonomous Robots, SCADA, Simulation, Horizontal and vertical System Integration, Cloud Computing, Cyber Security, Internet of Things (IoT), Digital Twin, Advanced human-machine interfaces (HMI), Additive Manufacturing (3D Printing) and Others. Big Data and Analytics segment held the major market share in 2021 of $474.28 million and is estimated to reach $834.86 million in 2027, with a CAGR of around 9.84% during the forecast period. Brazil is gradually moving toward Industry 4.0, with industries such as oil, gas, minerals, and agriculture expected to be early adopters of Big Data services. According to Software.org, 21 to 24 percent of Brazilian small and medium-sized businesses believe digitization will aid in the development of more personalized products and services. Such high penetration of advanced technologies and inclination towards digitalization will give incentives to the market players to take various steps to expand their business. Hence, the above-mentioned factors will drive the growth of this market during 2022-2027.

Brazil Industry 4.0 Market Segment Analysis – by End-user

Based on end-user, the market is segmented into General Manufacturing, Transportations & Logistics, Medical & Pharmaceutical, Metal & Mining, Oil & Gas, Automotive & Tire, Aerospace & Defence, Food & Beverage, Electronics & Semiconductors, Power, Construction, Agriculture, Water & Wastewater Treatment, Paper & Pulp, Chemical and Others. The metal and Mining segment held the major Brazil Industry 4.0 Market share in 2021 of $434.20 million and is estimated to reach $831.47 million in 2027, with a CAGR of around 11.40% during the forecast period. The value of digital technology in the mining industry is growing as companies look for ways to reduce geological uncertainty, market volatility, and operational hazards. Big data analytics and the internet of things (IoT) offer a unique opportunity to rethink existing processes and create new value. The metal and mining industry is now involved in connecting previously unconnected operational technology (OT), devices and systems, and information technology (IT) for data exchange and operational efficiency via IT/OT convergence, integrated sales and operational planning, agile supply chain, digital EHS monitoring, and performance parameters. According to the Ibram association, the mining industry in Brazil will invest $40.4 billion by 2026. This will help to improve the mining business in Brazil and, eventually, the Industry 4.0 market in Brazil. Such factors will drive the growth of this market.

Schedule a Call

Brazil Industry 4.0 Market Drivers

Increasing proliferation of technologies like predictive maintenance, data analytics, digital twins, artificial intelligence and others in Oil & Gas sector fuels the growth:

Over the last few years, the oil & gas sector is undergoing a transition as leading players in this industry are adopting advanced technology to reshape their operating landscape and reap the benefits of improved productivity, higher efficiency, and increased cost savings. In order to decarbonize and optimize operations, the Brazilian O&G industry has started to take advantage of advanced technologies including cloud services, digital twins Internet of things (IoT) and Artificial Intelligence (AI), among other digital services. Apart from that, the adoption of video surveillance complemented by advanced analytics and machine learning to improve operational efficiency as well as health and safety in the O&G sector can be considered vital in driving the Brazil Industry 4.0 Market growth forward. For instance, in November 2021, Brazil’s Petrobras, the leading oil, natural gas and derivatives exploration, production and distribution company, announced the plan of investing $68 Bn from 2022-2026 to boost oil production in the subsea pre-salt area by leveraging the advanced technologies to fulfill the demand of the customers. Such steps create a positive impact on the growth of this market.

The burgeoning demand for establishing a digital infrastructure in the mining sector is accelerating the growth of this market:

The Brazilian mining industry is opting for technological innovation to remain competitive while driving safety and transparency standards. Mining is of major importance to the Brazilian economy, having more than 3,000 mines spread across the national territory. The Brazilian mining industry is facing significant challenges due to plummeting commodity prices, lessening global demand and increasing safety and security risks. To reduce the effect of such challenges, miners need to improve safety, scale operations, improve operational processes, and enhance production, thereby driving the need for new business models and operating models. Leading mining companies in Brazil are harnessing the high computing power of digital technologies, including cloud-enabled mobility, big data-powered analytics and the industrial Internet of Things (IoT). This in turn drives the growth of this market. Furthermore, the increasing usage of robotics and penetration of automation with assisted and remote-control equipment and autonomous drilling and related process in the mining industry, to deliver safer and more effective mining performance, is fueling the growth of this market. In June 2021, Japan’s ITOCHU Corporation announced signing an MoU with the Brazilian CSN Group with the aim of promoting decarbonization and digital transformation (DX) for Casa de Pedra iron ore mines in Brazil. Such events trigger the growth of this market.

Buy Now

Brazil Industry 4.0 Market Challenge

The lack of investments in digital infrastructure in Brazil is creating hurdles for the market growth

Even though the Brazil Industry 4.0 Market is growing rapidly, but the lack of investment for developing digital infrastructure in Brazil creates challenges for the growth of this market. The implementation of Industry 4.0 in Brazil is still a challenge owing to the lack of investment in IT infrastructure in the country. IT readiness and appropriate telecommunications infrastructure are necessary for Industry 4.0 to thrive across Brazil. The research conducted by CNI shows that the alarming point is that only 33% of companies in Brazil claim that no new investment is needed. Another survey report of CNI states that innovation benefits the production chain and the country, demonstrating impacting results for the companies involved and for the country's economy, but the reality in Brazil is approximately half of the companies are still considered industry 2.0. To shift it from industry 2.0 to industry 4.0, a huge amount of investment is required. Hence, the lack of investment creates challenges for this market.

Brazil Industry 4.0 Industry Outlook

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Brazil Industry 4.0 Market. In 2021, the market of Brazil Industry 4.0 industry outlook has been fragmented by several companies. The top 10 companies in the Brazil Industry 4.0 include

Iastech Automacao De Sistemas Ltda

Simatec Tecnologia em Automacao Ltda

Techplus Automacao

Automind Automacao

Greylogix Brasil

Icone Tecnologia e Automacao

Automaton Automacao

Company 8

Company 9

Company 10

Recent Developments

In June 2021, Schneider Electric, a global leader in digital transformation and energy management and automation, inaugurated a new industrial automation laboratory in Brooklyn, south of São Paulo which was made in partnership with Westcon Instrumentation Industrial to simulate the industrial internet of things (IIoT) and industry 4.0 applications with augmented reality demonstrations.

In May 2020, Siemens announced its partnership with GreyLogix to produce respirators in-house for use in healthcare facilities in Brazil to help fight the coronavirus. The equipment featured Siemens solutions, with emphasis on the controllers and HMIs of the SIMATIC line and the power supplies of the SITOP line, and at the same time, GreyLogix ensured that the equipment produced followed the necessary medical requirements.

In March 2020, Schneider Electric announced to invest in the Titled High-Performance Machine journey based on Industry 4.0, by providing a series of training and workshops to support machine manufacturers and end users who want to improve performance and productivity and reduce costs in production processes in Brazil.

[sagorika]

Visualization of the revenue of the top PLC companies in FY 2023.

Revenue of the Top PLC companies:- The key insights of the PLC market dynamics in 2023: The global PLC market size in 2023 was estimated to be $12.31 billion. The market is expected to grow at a CAGR of 4.23% from 2024 to 2029, reaching USD 15.07 billion. The expert analysis pointed out the Asia Pacific to be the fastest-growing and largest market for PLCs. The major factors that are…

[chandupalle]

Industry 4.0 Market Size, Share, Industry Trends & Growth Drivers 2030

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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102536746

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)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem.Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research.The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.