Industry 4.0 Market

Industry 4.0 Market by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV's, Machine Condition Monitoring) and Geography 2026

Report Code: SE 5279 Jun, 2021, by marketsandmarkets.com

The global industry 4.0 market size is projected to reach USD165.5 billion by 2026; it is expected to grow at a CAGR of 20.6% during the forecast period. 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 market.

Industry 4.0 Market  by Region

To know about the assumptions considered for the study, download the pdf brochure

Industry 4.0 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. 

Industry 4.0 Market  by Ecosystem

Industry 4.0 Market Dynamics

Driver: Increasing in Additive Manufacturing

 3D printing and additive manufacturing is one of the most innovative modern technologies. In recent times, 3D printing was being used extensively to fulfill the huge surge in demand for ventilator valves in hospitals around the world. Currently, 3D printing technology is poised to change various trends in manufacturing industry. 

Globally, governments are undertaking initiatives and providing funding to educational institutions, research centers, and research and technology organizations to further explore the opportunities provided by 3D printing technology as well as to encourage its development. The US, the UK, and Canada are implementing national programs to promote university-level 3D printing research; this is driving technology advancement and the establishment of start-ups. The emergence of new applications for 3D printing will attract industrialists and governments across the world towards the technology in the future.

Restraint:  Restricted use of industrial robots in startups due to high implementation costs

 Industrial robots are immensely useful in saving time, reducing downtime, and eliminating repetitive manual labor in a smart factory. However, deployment of industrial robots is very expensive.

A single industrial robot can cost upwards of USD 20,000. Hence, deployment of industrial robots in factories requires substantial monetary resources. Startups operate on a very small basis and find it unfeasible to deploy industrial robots in their manufacturing units. The robots also come with huge repair and maintenance costs.

Opportunity: Rising popularity of 5G in cloud robotics sector

 The demand for cloud robotics has grown steadily as a result of the increasing deployment of robots in manufacturing units around the world. Cloud robotics aims at placing the system intelligence in the cloud and integrating it with the robots deployed in the factory.

The widespread use of cloud robotics across the manufacturing sector has resulted in the need for a high-performance network such as 5G, which offers higher bandwidth and lower latency than Wi-Fi. 5G supports tasks that rely on video and massive datasets in real time. It enables smooth integration of robots deployed in the factory with the cloud network and is thus being increasingly preferred in robotics.

Challenge: Interoperability and integration issues of industrial robots

Industrial robots are being used on a large scale in manufacturing facilities around the world, resulting in significant integration issues. Initial integration of robots with assembly lines is a long and arduous task and often requires the expertise of an integrator to redesign and repurpose robot workcells to meet the specifications of new tasks.

Large manufacturers using industrial robots get weighed down due to difficulties in integrating 15- to 20-year-old legacy technologies and infrastructure with new robotics technologies on the same manufacturing line. In the case of SMEs, where the production process is at a much smaller scale, integration costs become unnecessary and non-sustainable. Such issues make the adoption of industrial robots challenging for manufacturers across the board.

Industry 4.0 Market  by Region

To know about the assumptions considered for the study, download the pdf brochure

North America is projected to grow at highest rate in the industry 4.0 market

 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.

Key Market Players in Industry 4.0 Market

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)

The study includes an in-depth competitive analysis of these key players in the industry 4.0 market with their company profiles, recent developments, and key market strategies.

Industry 4.0 Market Report Scope:

Report Metric

Details

CAGR

CAGR of 20.6%

Estimated Market Size

USD 165.5 billion

Projected Market Size

USD 64.9 billion

Years Considered

2017–2026

Base Year Considered

2020

Forecast Period

2021–2026

Forecast Units

Value (USD million/billion)

Segments Covered

Technology

Regions Covered

North America, APAC, Europe, and RoW

Companies Covered

3D Systems (US), ABB (Switzerland), Advantech (Taiwan), Basler (Germany), Cisco Systems (US), Cognex Corporation (US), Daifuku (Japan), Emerson Electric (US), General Electric (US), Honeywell International (US), IBM (US), Intel (US), John Bean Technologies Corporation (US), Nvidia (US), Siemens (Germany), 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)

 Key Market Driver  Increasing in Additive Manufacturing
 Key Market Opportunity   Rising popularity of 5G in cloud robotics sector
 Largest Growing Region  North America

Industry 4.0 Market Categorization

In this report, the overall market has been segmented based on technology and region.

Report Metric

Details

By Technology:

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East & Africa
    • South America

Recent Developments in Industry 4.0 Market

  • In February 2022, IBM acquired Sentaca, one of the leading telco consulting services and solutions providers. This acquisition will accelerate IBM’s hybrid cloud consulting business, adding critical skills to help Communication Service Providers (CSPs) and media giants modernize on multiple cloud platforms, innovate, and transform their businesses.
  • In February 2021, Siemens agreed on a joint venture with IBM to apply cloud services, built on RedHat’s Openshift, and extended the deployment flexibility of MindSphere, the industrial IoT, as a service solution from Siemens. This will enable consumer to run MindSphere on premises, unlocking the speed and agility in factory and plant operations, and though cloud for seamless product support, updates, and enterprise connectivity.
  • In November 2021, Siemens expanded its IoT offering with the launch of a digital and vendor-independent, cross manufacturer App Store for consumers. 

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 34)
    1.1 OBJECTIVES OF THE STUDY
    1.2 DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 INDUSTRY 4.0 MARKET SEGMENTATION
           1.3.2 GEOGRAPHIC SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA
           FIGURE 2 INDUSTRY 4.0: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    TABLE 1 LIST OF SECONDARY SOURCES
                    2.1.2.1 Key secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Key data from primary sources
                    2.1.3.2 Primary interviews with experts
                    2.1.3.3 Key industry insights
                    2.1.3.4 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION
           FIGURE 3 SIZE ESTIMATION METHODOLOGY FOR MACHINE CONDITION MONITORING MARKET USING SUPPLY-SIDE ANALYSIS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 4 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENTS
           TABLE 2 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 51)
    TABLE 3 INDUSTRY 4.0 MARKET, 2017–2020 (USD BILLION)
    TABLE 4 MARKET, 2021–2026 (USD BILLION)
    FIGURE 5 EFFECT OF COVID-19 ON ARKET
    3.1 POST-COVID-19 SCENARIO
           TABLE 5 POST-COVID-19 SCENARIO: ARKET, 2021–2026 (USD BILLION)
    3.2 OPTIMISTIC SCENARIO (POST-COVID-19)
           TABLE 6 OPTIMISTIC SCENARIO (POST-COVID-19): MARKET, 2021–2026 (USD BILLION)
    3.3 PESSIMISTIC SCENARIO (POST-COVID-19)
           TABLE 7 PESSIMISTIC SCENARIO (POST-COVID-19): MARKET, 2021–2026 (USD BILLION)
           FIGURE 6 INDUSTRIAL SENSORS SEGMENT TO LEAD MARKET FROM 2021 TO 2026
           FIGURE 7 APAC TO HOLD LARGEST SHARE OF MARKET IN 2021

4 PREMIUM INSIGHTS (Page No. - 57)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRY 4.0 MARKET
           FIGURE 8 RAPID ADOPTION OF AI, IOT, AND BLOCKCHAIN TECHNOLOGIES IN MANUFACTURING SECTOR TO FUEL MARKET FROM 2021 TO 2026
    4.2 MARKET, BY TECHNOLOGY
           FIGURE 9 INDUSTRIAL SENSORS SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET FROM 2021 TO 2026
    4.3 MARKET, BY TECHNOLOGY AND REGION
           FIGURE 10 APAC TO HOLD LARGEST SIZE OF MARKET IN 2026
    4.4 MARKET, BY COUNTRY
           FIGURE 11 INDUSTRY 4.0 MARKET IN US TO RECORD HIGHEST CAGR FROM 2021 TO 2026

5 MARKET OVERVIEW (Page No. - 60)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 12 MARKET DYNAMICS: INDUSTRY 4.0 MARKET, 2020
           5.2.1 DRIVERS
                    5.2.1.1 Rapid adoption of Artificial Intelligence (AI) and Internet of Things (IoT) in manufacturing sector
                    5.2.1.2 Increasing demand for industrial robots in pharmaceutical and medical device manufacturing sector
                    5.2.1.3 Rising government investments in 3D printing and additive manufacturing
                               TABLE 8 GOVERNMENT INVESTMENTS IN 3D PRINTING PROJECTS
                    5.2.1.4 Growing adoption of blockchain technology in manufacturing industry
                               FIGURE 13 MARKET: IMPACT ANALYSIS OF DRIVERS AND OPPORTUNITIES
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of skilled workforce conversant with new developments in AI and IoT technologies
                    5.2.2.2 Restricted use of industrial robots in startups due to high implementation costs
                    5.2.2.3 High cost of 3D printing materials prevents small companies from competing with big players
                    5.2.2.4 Negative health effects of excessive use of AR & VR
                               FIGURE 14 INDUSTRY 4.0 MARKET: IMPACT ANALYSIS OF RESTRAINTS AND CHALLENGES
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing application of AI and IoT in medical wearables
                    5.2.3.2 Rising popularity of 5G in cloud robotics sector
                    5.2.3.3 Surge in use of 3D printing technology for medical equipment and customized drugs during COVID-19 pandemic
           5.2.4 CHALLENGES
                    5.2.4.1 Susceptibility of IoT and AI technologies to cyber attacks
                    5.2.4.2 Interoperability and integration issues of industrial robots
                    5.2.4.3 High cost associated with deployment of VR technology
                               FIGURE 15 COST ANALYSIS: VR EQUIPMENT
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 16 INDUSTRY 4.0 MARKET: VALUE CHAIN
    5.4 PORTER’S FIVE FORCES ANALYSIS
           TABLE 9 MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.5 ECOSYSTEM ANALYSIS
           FIGURE 17 INDUSTRY 4.0 ECOSYSTEM
           TABLE 10 ECOSYSTEM: INDUSTRY 4.0
    5.6 REVENUE SHIFT AND NEW REVENUE POCKETS FOR INDUSTRY 4.0 MARKET
           FIGURE 18 INDUSTRY 4.0 (YC-YCC SHIFT)
    5.7 CASE STUDY ANALYSIS
           TABLE 11 IMPLEMENTATION OF INDUSTRY 4.0 SOLUTION AT HOMBURG PLANT - BOSCH REXROTH
           TABLE 12 IMPLEMENTATION OF FULLY AUTOMATED PRODUCTION LINE AT FORD
    5.8 TECHNOLOGY ANALYSIS
           5.8.1 CLOUD COMPUTING
           5.8.2 5G
           5.8.3 MACHINE LEARNING IN COMPUTER VISION
    5.9 PRICING ANALYSIS
           TABLE 13 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR AGV
           TABLE 14 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR COLLABORATIVE ROBOTS
           TABLE 15 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR MACHINE CONDITION MONITORING SENSORS
           TABLE 16 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR VIBRATION MONITORING SYSTEMS
    5.10 TRADE ANALYSIS
           5.10.1 IMPORT & EXPORT SCENARIO
                    FIGURE 19 IMPORT, BY COUNTRY, 2016−2020 (USD THOUSAND)
                    TABLE 17 IMPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 842710)
                    FIGURE 20 EXPORT, BY COUNTRY, 2016−2020 (USD THOUSAND)
                    TABLE 18 EXPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 842710)
                    FIGURE 21 IMPORT, BY COUNTRY, 2016−2020 (USD THOUSAND)
                    TABLE 19 IMPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 847950)
                    FIGURE 22 EXPORT, BY COUNTRY, 2016−2020 (USD THOUSAND)
                    TABLE 20 EXPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 847950)
                    FIGURE 23 IMPORT, BY COUNTRY 2016−2020 (USD MILLION)
                    TABLE 21 IMPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 903190)
                    FIGURE 24 EXPORT, BY COUNTRY, 2016−2020 (USD MILLION)
                    TABLE 22 EXPORT, BY COUNTRY, 2016−2020 (USD THOUSAND) (HS CODE 903190)
    5.11 PATENT ANALYSIS
                    FIGURE 25 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
                    TABLE 23 TOP 10 PATENT OWNERS IN US IN LAST 10 YEARS
                    FIGURE 26 NUMBER OF PATENTS GRANTED PER YEAR FROM 2011 TO 2020
    5.12 MARKET STANDARDS
                    TABLE 24 STANDARDS RELATED TO IOT IN MANUFACTURING
           5.12.1 STANDARDS RELATED TO INDUSTRIAL ROBOTS
                    TABLE 25 STANDARDS RELATED TO 3D PRINTING AND ADDITIVE MANUFACTURING
           5.12.2 STANDARDS RELATED TO MACHINE CONDITION MONITORING

6 INDUSTRY 4.0 MARKET, BY TECHNOLOGY (Page No. - 85)
    FIGURE 27 MARKET, BY TECHNOLOGY
    6.1MARKET FOR INDUSTRIAL ROBOTS
           6.1.1 TRADITIONAL INDUSTRIAL ROBOTS
                    TABLE 26 MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 27 MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                    TABLE 28 MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 29 MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                    6.1.1.1 Articulated robots
                    6.1.1.2 Cartesian Robots
                    6.1.1.3 Selective Compliance Assembly Robot Arm (SCARA)
                    6.1.1.4 Cylindrical Robots
                    6.1.1.5 Other robots
           6.1.2 COLLABORATIVE ROBOTS
                    6.1.2.1 Emerging trend in robotics industry
                               TABLE 30 INDUSTRY 4.0 MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 31 MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                               TABLE 32 MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 33 MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
    6.2 MARKET FOR BLOCKCHAIN IN MANUFACTURING
           6.2.1 DEFINITION
           6.2.2 BLOCKCHAIN IN MANUFACTURING
                    FIGURE 28 TYPICAL APPLICATIONS OF BLOCKACHAIN IN MANUFACTURING SECTOR
                    6.2.2.1 Drivers contributing to growth of industry 4.0 market for blockchain in manufacturing
                               6.2.2.1.1 Increasing demand for real-time data analyses, enhanced visibility, and proactive maintenance in manufacturing industry
                    6.2.2.2 Challenges to growth of market for blockchain in manufacturing
                               6.2.2.2.1 Concerns regarding security, privacy, and control
                                             TABLE 34 STARTUP COMPANIES INVOLVED IN MARKET FOR BLOCKCHAIN IN MANUFACTURING
                                             TABLE 35 FUNDING ANALYSIS FOR STARTUPS INVOLVED IN MARKET FOR BLOCKCHAIN IN MANUFACTURING
    6.3 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS
           TABLE 36 MARKET FOR INDUSTRIAL SENSORS, BY SENSOR TYPE, 2017–2020 (USD MILLION)
           TABLE 37 MARKET FOR INDUSTRIAL SENSORS, BY SENSOR TYPE, 2021–2026 (USD MILLION)
           TABLE 38 MARKET FOR INDUSTRIAL SENSORS, BY TYPE, 2017–2020 (USD MILLION)
           TABLE 39 MARKET FOR INDUSTRIAL SENSORS, BY TYPE, 2021–2026 (USD MILLION)
           6.3.1 LEVEL SENSORS
                    6.3.1.1 Used for level sensing and measurement in factories
           6.3.2 TEMPERATURE SENSORS
                    6.3.2.1 Growing use in process and non-process applications
           6.3.3 FLOW SENSORS
                    6.3.3.1 Increasing demand in oil & energy industries
           6.3.4 POSITION SENSORS
                    6.3.4.1 Increasing application areas due to technological advancements
           6.3.5 PRESSURE SENSORS
                    6.3.5.1 Used in semiconductor processing, robotics, and test & measurement applications
           6.3.6 FORCE SENSORS
                    6.3.6.1 Increasing use of force sensors in automated robots
           6.3.7 HUMIDITY & MOISTURE SENSORS
                    6.3.7.1 High demand in chemicals, pharmaceuticals, oil & gas, and food & beverages industries
           6.3.8 GAS SENSORS
                    6.3.8.1 Used in industries to measure concentration of gases in air
                               TABLE 40 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 41 MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                               TABLE 42 MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 43 MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
    6.4 MARKET FOR INDUSTRIAL 3D PRINTING
           6.4.1 EVOLUTION OF INDUSTRIAL 3D PRINTING TO DRIVE INDUSTRY 4.0 MARKET
                    TABLE 44 MARKET FOR INDUSTRIAL 3D PRINTING, BY OFFERINGS, 2017–2020 (USD MILLION)
                    TABLE 45 INDUSTRY 4.0 FOR INDUSTRIAL 3D PRINTING, BY OFFERINGS, 2021–2026 (USD MILLION)
                    TABLE 46 MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                    TABLE 47 MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2021–2026 (USD MILLION)
                    TABLE 48 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS, 2017–2020 (USD MILLION)
                    TABLE 49 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS, 2021–2026 (USD MILLION)
                    TABLE 50 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 51 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
                    TABLE 52 MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 53 MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
    6.5 INDUSTRY 4.0 MARKET FOR MACHINE VISION
           TABLE 54 MARKET FOR MACHINE VISION, BY PRODUCT, 2017–2020 (USD MILLION)
           TABLE 55 MARKET FOR MACHINE VISION, BY PRODUCT, 2021–2026 (USD MILLION)
           TABLE 56 MARKET FOR MACHINE VISION, BY COMPONENT, 2017–2020 (USD MILLION)
           TABLE 57 MARKET FOR MACHINE VISION, BY COMPONENT, 2021–2026 (USD MILLION)
           TABLE 58 MARKET FOR MACHINE VISION, BY HARDWARE, 2017–2020 (USD MILLION)
           TABLE 59 MARKET FOR MACHINE VISION, BY HARDWARE, 2021–2026 (USD MILLION)
           TABLE 60 MARKET FOR MACHINE VISION, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 61 MARKET FOR MACHINE VISION, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION)
           TABLE 62 MARKET FOR MACHINE VISION, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
           TABLE 63 MARKET FOR MACHINE VISION, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
           6.5.1 CAMERA
                    6.5.1.1 Digital Camera
                    6.5.1.2 Smart Camera
           6.5.2 FRAME GRABBERS, OPTICS, AND LED LIGHTING
                    6.5.2.1 Increasing demand for LED and laser lighting
           6.5.3 PROCESSOR AND SOFTWARE
                    6.5.3.1 Important part of machine vision systems
    6.6 INDUSTRY 4.0 MARKET FOR HMI
           6.6.1 MARKET FOR HMI, BY OFFERING
                    FIGURE 29 HMI MARKET, BY OFFERING
                    TABLE 64 MARKET FOR HMI, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 65 MARKET FOR HMI, BY OFFERING, 2021–2026 (USD MILLION)
                    6.6.1.1 Hardware
                               FIGURE 30 MARKET FOR HMI, BY HARDWARE
                               TABLE 66 MARKET FOR HMI, BY HARDWARE, 2017–2020 (USD MILLION)
                               TABLE 67 MARKET FOR HMI, BY HARDWARE, 2021–2026 (USD MILLION)
                               6.6.1.1.1 Basic HMI
                                             6.6.1.1.1.1 High demand for simple and price-sensitive applications
                               6.6.1.1.2 Advanced Panel-based HMI
                                             6.6.1.1.2.1 Ability to implement high-performance visualization
                               6.6.1.1.3 Advanced PC-based HMI
                                             6.6.1.1.3.1 Offers IoT and cloud connectivity for big data analytics
                               6.6.1.1.4 Others
                    6.6.1.2 Software
                               FIGURE 31 HMI MARKET, BY SOFTWARE
                               6.6.1.2.1 On-premises HMI
                                             6.6.1.2.1.1 Increased adoption due to need for data security and customization
                               6.6.1.2.2 Cloud-based HMI
                                             6.6.1.2.2.1 Low installation cost encourages adoption by small enterprises
                                                TABLE 68 MARKET FOR HMI, BY SOFTWARE, 2017–2020 (USD MILLION)
                                                TABLE 69 MARKET FOR HMI, BY SOFTWARE, 2021–2026 (USD MILLION)
                    6.6.1.3 Services
           6.6.2 INDUSTRY 4.0 MARKET FOR HMI, BY CONFIGURATION
                    FIGURE 32 MARKET FOR HMI, BY CONFIGURATION
                    TABLE 70 MARKET FOR HMI, BY CONFIGURATION, 2017–2020 (USD MILLION)
                    TABLE 71 MARKET FOR HMI, BY CONFIGURATION, 2021–2026 (USD MILLION)
                    6.6.2.1 Embedded HMI
                               6.6.2.1.1 Offers enormous benefits to end users
                    6.6.2.2 Standalone HMI
                               6.6.2.2.1 Requirement for smaller HMI solutions drives demand
           6.6.3 INDUSTRY 4.0 MARKET FOR HMI, BY TECHNOLOGY
                    6.6.3.1 Motion HMI
                    6.6.3.2 Bionic HMI
                    6.6.3.3 Tactile HMI
                    6.6.3.4 Acoustic HMI
           6.6.4 MARKET FOR HMI, BY END-USER INDUSTRY
                    FIGURE 33 MARKET FOR HMI, BY END-USER INDUSTRY
                    TABLE 72 MARKET FOR HMI, BY END-USER INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 73 MARKET FOR HMI, BY END-USER INDUSTRY, 2021–2026 (USD MILLION)
                    6.6.4.1 Process industries
                               FIGURE 34 MARKET FOR HMI, BY PROCESS INDUSTRIES
                               TABLE 74 MARKET FOR HMI, BY PROCESS INDUSTRIES, 2017–2020 (USD MILLION)
                               TABLE 75 MARKET FOR HMI, BY PROCESS INDUSTRIES, 2021–2026 (USD MILLION)
                               6.6.4.1.1 Oil & Gas
                                             6.6.4.1.1.1 Increasing demand for HMI solutions for remote monitoring
                               6.6.4.1.2 Food & beverages
                                             6.6.4.1.2.1 Stringent quality requirements encourage adoption of HMI solutions
                               6.6.4.1.3 Pharmaceuticals
                                             6.6.4.1.3.1 Surging adoption of HMI solutions due to complex manufacturing processes
                               6.6.4.1.4 Chemicals
                                             6.6.4.1.4.1 Demand for HMI solutions to increase operational efficiency
                               6.6.4.1.5 Energy & power
                                             6.6.4.1.5.1 Surging demand for advanced monitoring solutions
                               6.6.4.1.6 Metals & mining
                                             6.6.4.1.6.1 High-risk operations require adoption of HMI solutions
                               6.6.4.1.7 Water & wastewater
                                             6.6.4.1.7.1 Technological advancements in water treatment operations raise need for HMI solutions
                               6.6.4.1.8 Others
                    6.6.4.2 Discrete industry
                               FIGURE 35 INDUSTRY 4.0 MARKET FOR HMI, BY DISCRETE INDUSTRIES
                               TABLE 76 MARKET FOR HMI, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION)
                               TABLE 77 MARKET FOR HMI, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION)
                               6.6.4.2.1 Automotive
                                             6.6.4.2.1.1 Technological innovations to boost demand for HMI solutions
                               6.6.4.2.2 Aerospace & defense
                                             6.6.4.2.2.1 Adoption of HMI solutions to ensure reliability of equipment
                               6.6.4.2.3 Packaging
                                             6.6.4.2.3.1 Increasing emphasis on quality packaging boosts demand for HMI solutions
                               6.6.4.2.4 Medical devices
                                             6.6.4.2.4.1 Growing need to monitor medical device manufacturing processes
                               6.6.4.2.5 Semiconductor & electronics
                                             6.6.4.2.5.1 High competition increases demand for HMI solutions
                               6.6.4.2.6 Other discrete industries
    6.7 INDUSTRY 4.0 MARKET FOR ARTIFICIAL INTELLIGENCE IN MANUFACTURING
           TABLE 78 MARKET FOR AI IN MANUFACTURING, 2017–2026 (USD MILLION)
           6.7.1 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY OFFERING
                    TABLE 79 MARKET FOR AI IN MANUFACTURING, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 80 MARKET FOR AI IN MANUFACTURING, BY OFFERING, 2021–2026 (USD MILLION)
                    6.7.1.1 Hardware
                               TABLE 81 MARKET FOR AI IN MANUFACTURING, BY HARDWARE, 2017–2020 (USD MILLION)
                               TABLE 82 MARKET FOR AI IN MANUFACTURING, BY HARDWARE, 2021–2026 (USD MILLION)
                               6.7.1.1.1 Processor
                                             FIGURE 36 GPU MARKET TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
                                             TABLE 83 MARKET FOR AI IN MANUFACTURING, BY PROCESSOR, 2017–2020 (USD MILLION)
                                             TABLE 84 MARKET FOR AI IN MANUFACTURING, BY PROCESSOR, 2021–2026 (USD MILLION)
                                             6.7.1.1.1.1 MPU
                                             6.7.1.1.1.2 GPU
                                             6.7.1.1.1.3 FPGA
                                             6.7.1.1.1.4 ASIC
                               6.7.1.1.2 Memory
                                             6.7.1.1.2.1 Development and deployment of high-bandwidth memory for AI applications
                               6.7.1.1.3 Network
                                             6.7.1.1.3.1 Increasing demand for next generation networks in smart factories
                    6.7.1.2 Software
                               TABLE 85 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR OFFERING, BY SOFTWARE, 2017–2020 (USD MILLION)
                               TABLE 86 MARKET FOR AI IN MANUFACTURING, FOR OFFERING, BY SOFTWARE, 2021–2026 (USD MILLION)
                               6.7.1.2.1 AI solutions
                                             6.7.1.2.1.1 On-premises
                                                6.7.1.2.1.1.1 Preferred by data-sensitive enterprises
                                             6.7.1.2.1.2 Cloud
                                                6.7.1.2.1.2.1 AI solution providers focusing on development of robust cloud-based solutions
                               6.7.1.2.2 AI platform
                                             6.7.1.2.2.1 Machine learning framework
                                                6.7.1.2.2.1.1 Helps speed up smart factory operations
                                             6.7.1.2.2.2 Application program interface
                                                6.7.1.2.2.2.1 Provides building blocks for software applications
                    6.7.1.3 Services
                               TABLE 87 MARKET FOR AI IN MANUFACTURING, BY SERVICES, 2017–2020 (USD MILLION)
                               TABLE 88 MARKET FOR AI IN MANUFACTURING, BY SERVICES, 2021–2026 (USD MILLION)
                               6.7.1.3.1 Deployment & integration
                                             6.7.1.3.1.1 Key service for configuring AI systems in manufacturing
                               6.7.1.3.2 Support & maintenance
                                             6.7.1.3.2.1 Required to keep systems at an acceptable standard
                    6.7.1.4 Impact of COVID-19 on various AI technology offerings for manufacturing
           6.7.2 INDUSTRY 4.0 MARKET FOR ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY TECHNOLOGY
                    TABLE 89 MARKET FOR AI IN MANUFACTURING, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                    TABLE 90 MARKET FOR AI IN MANUFACTURING, BY TECHNOLOGY, 2021–2026 (USD MILLION)
                    FIGURE 37 MACHINE LEARNING TO HOLD LARGEST SHARE OF MARKET FOR AI IN MANUFACTURING IN 2020 AND 2026
                    6.7.2.1 Machine learning
                               TABLE 91 MARKET FOR AI IN MANUFACTURING, FOR MACHINE LEARNING, BY TYPE, 2017–2020 (USD MILLION)
                               TABLE 92 MARKET FOR AI IN MANUFACTURING, FOR MACHINE LEARNING, BY TYPE, 2021–2026 (USD MILLION)
                               6.7.2.1.1 Deep learning
                                             6.7.2.1.1.1 In demand for predictive maintenance and quality control purposes
                               6.7.2.1.2 Supervised learning
                                             6.7.2.1.2.1 Used for facial recognition and other applications
                               6.7.2.1.3 Reinforcement learning
                                             6.7.2.1.3.1 Allows systems and software to determine ideal behavior to maximize performance
                               6.7.2.1.4 Unsupervised learning
                                             6.7.2.1.4.1 Uses clustering methods on unlabeled training data
                               6.7.2.1.5 Others
                    6.7.2.2 Natural language processing
                               6.7.2.2.1 Serves wide range of speech recognition applications
                    6.7.2.3 Context-aware computing
                               6.7.2.3.1 Accelerated growth due to development of sophisticated hard and soft sensors
                                             TABLE 93 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR CONTEXT-AWARE COMPUTING, BY TYPE, 2017–2020 (USD MILLION)
                                             TABLE 94 MARKET FOR AI IN MANUFACTURING, FOR CONTEXT-AWARE COMPUTING, BY TYPE, 2021–2026 (USD MILLION)
                    6.7.2.4 Computer vision
                               6.7.2.4.1 Used for predictive maintenance and machinery inspection purposes
           6.7.3 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY APPLICATION
                    TABLE 95 MARKET FOR AI IN MANUFACTURING, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 96 MARKET FOR AI IN MANUFACTURING, BY APPLICATION, 2021–2026 (USD MILLION)
                    FIGURE 38 QUALITY CONTROL TO WITNESS HIGHEST GROWTH THROUGH FORECAST PERIOD
                    6.7.3.1 Predictive maintenance and machinery inspection
                               6.7.3.1.1 Provides framework for all planned maintenance activities
                    6.7.3.2 Material movement
                               6.7.3.2.1 AI-based technology streamlines in-plant logistics
                    6.7.3.3 Production planning
                               6.7.3.3.1 Helps standardize product and process sequence
                    6.7.3.4 Field services
                               6.7.3.4.1 Extensively used in heavy metals & machine manufacturing, oil & gas, and energy & power industries
                    6.7.3.5 Quality control
                               6.7.3.5.1 Wide use of AI-based quality control systems in pharmaceuticals, food & beverages, and semiconductor industries
                    6.7.3.6 Cybersecurity
                               6.7.3.6.1 Growing need for cybersecurity systems due to automation in manufacturing
                    6.7.3.7 Industrial robots
                               6.7.3.7.1 Help increase productivity and efficiency
                    6.7.3.8 Reclamation
                               6.7.3.8.1 AI-based systems used to detect important components in waste or slag
           6.7.4 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY INDUSTRY
                    TABLE 97 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 98 MARKET FOR AI IN MANUFACTURING, BY INDUSTRY, 2021–2026 (USD MILLION)
                    FIGURE 39 AUTOMOBILE HELD LARGEST SIZE OF AI IN MANUFACTURING MARKET IN 2020
                    6.7.4.1 Automobile
                               6.7.4.1.1 Wide use of machine learning and computer vision in automobile industry
                               6.7.4.1.2 Impact of COVID-19 on AI in manufacturing market for automobile industry
                    6.7.4.2 Energy & power
                               6.7.4.2.1 AI-based solutions enhance production output and reduce downtime
                               6.7.4.2.2 Impact of COVID-19 on AI in manufacturing market for energy & power industry
                    6.7.4.3 Pharmaceuticals
                               6.7.4.3.1 Growing demand for AI solutions from Chinese pharmaceuticals industry
                               6.7.4.3.2 Impact of COVID-19 on AI in manufacturing market for pharmaceuticals industry
                    6.7.4.4 Heavy metals & machine manufacturing
                               6.7.4.4.1 Heavy demand for AI solutions expected from APAC
                               6.7.4.4.2 Impact of COVID-19 on AI in manufacturing market for heavy metals & machine manufacturing industry
                    6.7.4.5 Semiconductors & electronics
                               6.7.4.5.1 AI likely to optimize production cost, technology implementation, and integration of components
                               6.7.4.5.2 Impact of COVID-19 on AI in manufacturing market for semiconductor & electronics industry
                    6.7.4.6 Food & beverages
                               6.7.4.6.1 AI-based solutions enhance quality of food production
                               6.7.4.6.2 Impact of COVID-19 on AI in manufacturing market for food & beverages industry
                    6.7.4.7 Others
    6.8 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN
           6.8.1 MARKET FOR DIGITAL TWIN, BY TECHNOLOGY
                    FIGURE 40 MARKET FOR DIGITAL TWIN, BY TECHNOLOGY
                    6.8.1.1 Internet of Things (IOT)
                    6.8.1.2 Blockchain
                    6.8.1.3 Artificial intelligence & machine learning
                    6.8.1.4 Augmented reality, virtual reality & mixed reality
                    6.8.1.5 Big data analytics
                    6.8.1.6 5G
           6.8.2 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY USAGE TYPE
                    FIGURE 41 MARKET FOR DIGITAL TWIN, BY USAGE TYPE
                    TABLE 99 MARKET FOR DIGITAL TWIN, BY USAGE TYPE, 2017–2020 (USD MILLION)
                    TABLE 100 MARKET FOR DIGITAL TWIN, BY USAGE TYPE, 2021–2026 (USD MILLION)
                    6.8.2.1 Product digital twin
                               6.8.2.1.1 Expected to witness significant growth during forecast period
                    6.8.2.2 Process digital twin
                               6.8.2.2.1 Plays major role in digital twin market
                    6.8.2.3 System digital twin
                               6.8.2.3.1 Expected to dominate market during forecast period
           6.8.3 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION
                    FIGURE 42 MARKET FOR DIGITAL TWIN, BY APPLICATION
                    FIGURE 43 MARKET FOR DIGITAL TWIN, BY APPLICATION (2021–2026)
                    TABLE 101 MARKET FOR DIGITAL TWIN, BY APPLICATION, 2017–2020 (USD MILLION)
                    TABLE 102 MARKET FOR DIGITAL TWIN, BY APPLICATION, 2021–2026 (USD MILLION)
                    6.8.3.1 Product design & development
                               6.8.3.1.1 Expected to register steady market growth
                    6.8.3.2 Performance monitoring
                               6.8.3.2.1 Likely to see rising demand in future
                    6.8.3.3 Predictive maintenance
                               6.8.3.3.1 Reduces maintenance costs and operational downtime
                    6.8.3.4 Inventory management
                               6.8.3.4.1 High demand in transportation & logistics industry
                    6.8.3.5 Business optimization
                               6.8.3.5.1 Expected to dominate market during forecast period
                    6.8.3.6 Others
           6.8.4 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY INDUSTRY
                    FIGURE 44 MARKET FOR DIGITAL TWIN, BY INDUSTRY
                    TABLE 103 MARKET FOR DIGITAL TWIN, BY INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 104 MARKET FOR DIGITAL TWIN, BY INDUSTRY, 2021–2026 (USD MILLION)
                    FIGURE 45 AUTOMOTIVE & TRANSPORTATION TO DOMINATE MARKET FOR DIGITAL TWIN DURING FORECAST PERIOD
                    6.8.4.1 Aerospace & defense
                               6.8.4.1.1 Expected to witness significant market growth
                    6.8.4.2 Automotive
                               6.8.4.2.1 Likely to dominate Industry 4.0 market during forecast period
                    6.8.4.3 Home & commercial
                               6.8.4.3.1 Stable growth expected in post-COVID-19 period
                    6.8.4.4 Healthcare
                               6.8.4.4.1 Least affected segment during COVID-19 crisis
                    6.8.4.5 Energy & utilities
                               6.8.4.5.1 Increasing digitalization to boost market
                    6.8.4.6 Oil & gas
                               6.8.4.6.1 High demand for system digital twins
                    6.8.4.7 Agriculture
                               6.8.4.7.1 Expected to witness significant growth during forecast period
                    6.8.4.8 Telecommunication
                               6.8.4.8.1 Expected to boost market growth post 5G commercialization
                    6.8.4.9 Retail
                               6.8.4.9.1 Inventory management segment to account for largest share of market
                    6.8.4.10 Others
                               6.8.4.10.1 Increasing demand for digital twin in semiconductor manufacturing industry
    6.9 INDUSTRY 4.0 MARKET FOR AUTOMATED GUIDED VEHICLES (AGV)
           6.9.1 MARKET FOR AGV, BY TYPE
                    FIGURE 46 MARKET FOR AGV, BY TYPE
                    FIGURE 47 TOW VEHICLES SEGMENT ESTIMATED TO ACCOUNT FOR LARGEST SIZE OF AGV MARKET IN 2021
                    TABLE 105 MARKET FOR AGV, BY TYPE, 2017–2020 (USD MILLION)
                    TABLE 106 MARKET FOR AGV, BY TYPE, 2021–2026 (USD MILLION)
                    6.9.1.1 Tow vehicles
                               6.9.1.1.1 Expected to hold largest size of market in 2020
                                             TABLE 107 MARKET FOR AGV, FOR TOW VEHICLES, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                                             TABLE 108 MARKET FOR AGV, FOR TOW VEHICLES, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.1.2 Unit load carriers
                               6.9.1.2.1 Major demand from automotive industry
                                             TABLE 109 INDUSTRY 4.0 MARKET FOR AGV, FOR UNIT LOAD CARRIERS, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                                             TABLE 110 MARKET FOR AGV, FOR UNIT LOAD CARRIERS, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.1.3 Pallet trucks
                               6.9.1.3.1 Vision-guided pallet trucks to register highest growth during forecast period
                                             TABLE 111 MARKET FOR PALLET TRUCKS, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                                             TABLE 112 MARKET FOR PALLET TRUCKS, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.1.4 Assembly line vehicles
                               6.9.1.4.1 Wide use for transportation of subassemblies
                                             TABLE 113 MARKET FOR AGV, FOR ASSEMBLY LINE VEHICLES, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                                             TABLE 114 MARKET FOR AGV, FOR ASSEMBLY LINE VEHICLES, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.1.5 Forklift trucks
                               6.9.1.5.1 Increasing demand for forklift trucks in applications involving heavy materials
                                             TABLE 115 INDUSTRY 4.0 MARKET FOR AGV, FOR FORKLIFT TRUCKS, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                                             TABLE 116 MARKET FOR AGV, FOR FORKLIFT TRUCKS, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.1.6 Others
                               TABLE 117 MARKET FOR AGV, FOR OTHER TYPES, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                               TABLE 118 MARKET FOR AGV, FOR OTHER TYPES, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
           6.9.2 MARKET FOR AGV, BY NAVIGATION TECHNOLOGY
                    FIGURE 48 AGV MARKET, BY NAVIGATION TECHNOLOGY
                    TABLE 119  MARKET FOR AGV, BY NAVIGATION TECHNOLOGY, 2017–2020 (USD MILLION)
                    TABLE 120 MARKET FOR AGV, BY NAVIGATION TECHNOLOGY, 2021–2026 (USD MILLION)
                    6.9.2.1 Laser guidance
                               6.9.2.1.1 Expected to hold largest size of market during forecast period
                    6.9.2.2 Magnetic guidance
                               6.9.2.2.1 Chiefly used in food & beverages and automotive industries
                    6.9.2.3 Inductive guidance
                               6.9.2.3.1 Wide use due to lack of intereference from external noise
                    6.9.2.4 Optical tape guidance
                               6.9.2.4.1 Increasing demand in end use industries requiring clean environments
                    6.9.2.5 Vision guidance
                               6.9.2.5.1 Expected to register highest CAGR during forecast period
                    6.9.2.6 Others
           6.9.3 INDUSTRY 4.0 MARKET FOR AGV, BY INDUSTRY
                    FIGURE 49 AGV MARKET, BY INDUSTRY
                    FIGURE 50 AUTOMOTIVE SEGMENT TO HOLD LARGEST SIZE OF MARKET FOR AGV FROM 2021 TO 2026
                    TABLE 121 MARKET FOR AGV, BY INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 122 MARKET FOR AGV, BY INDUSTRY, 2020–2025 (USD MILLION)
                    6.9.3.1 Automotive
                               6.9.3.1.1 Largest share of market during forecast period
                    6.9.3.2 Metal & heavy machinery
                               6.9.3.2.1 Growing demand for AGVs to ensure safety in material handling
                    6.9.3.3 Food & beverages
                               6.9.3.3.1 Increased global demand driving adoption of AGVs
                    6.9.3.4 Chemicals
                               6.9.3.4.1 Use of AGVs to ensure employee safety and manage workflow effectively
                    6.9.3.5 Healthcare
                               6.9.3.5.1 Wide use of AGVS to comply with clean environment requirements
                    6.9.3.6 3PL
                               6.9.3.6.1 Increased online retailing activities drives demand for AGVs
                    6.9.3.7 Semiconductors & electronics
                               6.9.3.7.1 Increased demand for AGVs in cleanroom applications
                    6.9.3.8 Aviation
                               6.9.3.8.1 Use of AGVs for manufacturing and assembly operations
                    6.9.3.9 E-commerce
                               6.9.3.9.1 Expected to grow at highest rate from 2021 to 2026
                    6.9.3.10 Others
    6.10 INDUSTRY 4.0 MARKET FOR MACHINE CONDITION MONITORING
           6.10.1 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE
                    FIGURE 51 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE
                    FIGURE 52 VIBRATION MONITORING SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MARKET FOR MACHINE CONDITION MONITORING FROM 2021 TO 2026
                    TABLE 123 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)
                    TABLE 124 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)
                    6.10.1.1 Vibration monitoring
                               6.10.1.1.1 Significance of route-based monitoring services in vibration monitoring technique
                                             FIGURE 53 INDUSTRY 4.0 MARKET FOR VIBRATION MONITORING, BY SYSTEM TYPE, 2020
                    6.10.1.2 Embedded systems
                               6.10.1.2.1 Wide adoption in oil & gas and power generation industries
                    6.10.1.3 Vibration analyzers and meters
                               6.10.1.3.1 Support effective machine condition monitoring
                    6.10.1.4 Thermography
                               6.10.1.4.1 High adoption due to ability to detect large number of defects
                    6.10.1.5 Oil analysis
                               6.10.1.5.1 Advantages of oil analysis make it prominent machine condition monitoring technique
                                             FIGURE 54 ADVANTAGES OF OIL ANALYSIS TECHNIQUE
                    6.10.1.6 Corrosion monitoring
                               6.10.1.6.1 Defects detected by corrosion monitoring help prevent corrosion of equipment
                    6.10.1.7 Ultrasound emission
                               6.10.1.7.1 Ultrasound emission monitoring helps detect defects in electric equipment
                    6.10.1.8 Motor current analysis
                               6.10.1.8.1 Early detection of faults by motor current analysis monitoring technique
           6.10.2 INDUSTRY 4.0 MARKET FOR MACHINE CONDITION MONITORING, BY OFFERING
                    FIGURE 55 MARKET FOR MACHINE CONDITION MONITORING, BY OFFERING
                    FIGURE 56 HARDWARE SEGMENT TO ACCOUNT FOR LARGER SHARE OF MARKET FOR MACHINE CONDITION MONITORING, BY OFFERING, FROM 2021 TO 2026
                    TABLE 125 MARKET FOR MACHINE CONDITION MONITORING, BY OFFERING, 2017–2020 (USD MILLION)
                    TABLE 126 MARKET FOR MACHINE CONDITION MONITORING, BY OFFERING, 2021–2026 (USD MILLION)
                    6.10.2.1 Hardware
                               6.10.2.1.1 Vibration sensors
                               6.10.2.1.2 Accelerometers
                                             6.10.2.1.2.1 Increased deployment in industrial plants to monitor machine acceleration
                               6.10.2.1.3 Proximity probes
                                             6.10.2.1.3.1 Used for accurate displacement measurement of devices
                               6.10.2.1.4 Tachometers
                                             6.10.2.1.4.1 Rising adoption to effectively monitor speed of rotating machines
                               6.10.2.1.5 Infrared sensors
                                             6.10.2.1.5.1 Thermal infrared sensors
                                                            6.10.2.1.5.1.1 Increased use to detect possible heat-induced faults in machines
                                             6.10.2.1.5.2 Quantum infrared sensors
                                                            6.10.2.1.5.2.1 High demand for quantum infrared sensors to identify temperature variations in machines
                               6.10.2.1.6 Spectrometers
                                             6.10.2.1.6.1 Infrared spectrometers
                                                            6.10.2.1.6.1.1 Growing demand for infrared spectrometers to identify various materials
                                             6.10.2.1.6.2 Ultraviolet spectrometers
                                                            6.10.2.1.6.2.1 Significant tools for oil analysis
                                             6.10.2.1.6.3 Atomic spectrometers
                                                            6.10.2.1.6.3.1 Increasingly used to identify foreign particles in oil samples
                                             6.10.2.1.6.4 Mass spectrometers
                                                            6.10.2.1.6.4.1 Used to identify contaminating compounds in lubricating oil samples
                               6.10.2.1.7 Ultrasound detectors
                                             6.10.2.1.7.1 Sound pressure meters
                                                            6.10.2.1.7.1.1 Increased use for noise level measurements
                                             6.10.2.1.7.2 Stethoscopes
                                                            6.10.2.1.7.2.1 Surging penetration in industries to monitor noise in machine components
                                             6.10.2.1.7.3 Ultrasound leak detectors
                                                            6.10.2.1.7.3.1 Growing adoption for identification of leakage in vacuum and compressed air systems
                               6.10.2.1.8 Spectrum analyzers
                                             6.10.2.1.8.1 Real-time spectrum analyzers
                                                             6.10.2.1.8.1.1 Increased adoption for motor current analysis
                               6.10.2.1.9 Corrosion probes
                                             6.10.2.1.9.1 Growing use for corrosion rate measurements
                                             6.10.2.1.10 Others
                                                TABLE 127 MARKET FOR MACHINE CONDITION MONITORING HARDWARE, BY TYPE, 2017–2020 (USD MILLION)
                                                TABLE 128 MARKET FOR MACHINE CONDITION MONITORING HARDWARE, BY TYPE, 2021–2026 (USD MILLION)
                    6.10.2.2 Software
                               TABLE 129 LIST OF MACHINE CONDITION MONITORING SOFTWARE PROVIDERS
                               6.10.2.2.1 Data integration
                                             6.10.2.2.1.1 Eliminates need to maintain multiple data logs for monitoring equipment
                               6.10.2.2.2 Diagnostic reporting
                                             6.10.2.2.2.1 Increased use to analyze overall health of industrial machines and plants
                               6.10.2.2.3 Order tracking analysis
                                             6.10.2.2.3.1 Increasingly used for signal amplitude measurements
                               6.10.2.2.4 Parameter calculation
                                             6.10.2.2.4.1 Increased deployment in industrial plants to evaluate reliability parameters of equipment
                                                TABLE 130 INDUSTRY 4.0 MARKET FOR MACHINE CONDITION MONITORING SOFTWARE, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)
                                                TABLE 131MARKET FOR MACHINE CONDITION MONITORING SOFTWARE, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)
           6.10.3 MARKET FOR MACHINE CONDITION MONITORING, BY DEPLOYMENT TYPE
                    FIGURE 57 MARKET FOR MACHINE CONDITION MONITORING, BY DEPLOYMENT TYPE
                    FIGURE 58 ON-PREMISES DEPLOYMENT SEGMENT TO ACCOUNT FOR LARGER SIZE OF MARKET FOR MACHINE CONDITION MONITORING BY DEPLOYMENT FROM 2021 TO 2026
                    TABLE 132 MARKET FOR MACHINE CONDITION MONITORING, BY DEPLOYMENT TYPE, 2017–2020 (USD MILLION)
                    TABLE 133 MARKET FOR MACHINE CONDITION MONITORING, BY DEPLOYMENT TYPE, 2021–2026 (USD MILLION)
                    6.10.3.1 On-premises deployment
                               6.10.3.1.1 Limitations of on-premises deployment to impact market growth
                                             FIGURE 59 LIMITATIONS OF ON-PREMISES DEPLOYMENT OF MACHINE CONDITION MONITORING SOLUTIONS AND SYSTEMS
                    6.10.3.2 Cloud deployment
                               6.10.3.2.1 Advantages over on-premises deployment to drive demand
                                             FIGURE 60 ADVANTAGES OF CLOUD DEPLOYMENT OF MACHINE CONDITION MONITORING SYSTEMS AND SOLUTIONS
           6.10.4 INDUSTRY 4.0 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING PROCESS
                    FIGURE 61 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING PROCESS
                    FIGURE 62 ONLINE CONDITION MONITORING SEGMENT TO LEAD MARKET FOR MACHINE CONDITION MONITORING FROM 2021 TO 2026
                    TABLE 134 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING PROCESS, 2017–2020 (USD MILLION)
                    TABLE 135 MARKET FOR MACHINE CONDITION MONITORING, BY MONITORING PROCESS, 2021–2026 (USD MILLION)
                    6.10.4.1 Online condition monitoring
                               6.10.4.1.1 Delivers real-time machinery health information to plant operators
                                             TABLE 136 INDUSTRY 4.0 MARKET FOR ONLINE MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)
                                             TABLE 137 MARKET FOR ONLINE MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)
                    6.10.4.2 Portable condition monitoring
                               6.10.4.2.1 Cost-effective condition monitoring process
                                             TABLE 138 MARKET FOR PORTABLE MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2017–2020 (USD MILLION)
                                             TABLE 139 MARKET FOR PORTABLE MACHINE CONDITION MONITORING, BY MONITORING TECHNIQUE, 2021–2026 (USD MILLION)
           6.10.5 MARKET FOR MACHINE CONDITION MONITORING, BY INDUSTRY
                    FIGURE 63 MARKET FOR MACHINE CONDITION MONITORING, BY INDUSTRY
                    TABLE 140 MARKET FOR MACHINE CONDITION MONITORING, BY INDUSTRY, 2017–2020 (USD MILLION)
                    TABLE 141 MARKET FOR MACHINE CONDITION MONITORING, BY INDUSTRY, 2021–2026 (USD MILLION)
                    6.10.5.1 Oil & gas
                               6.10.5.1.1 Use of Industry 4.0 solutions to address machine condition monitoring requirements
                    6.10.5.2 Power generation
                               6.10.5.2.1 Investments in sustainable energy to increase adoption of machine condition monitoring systems and solutions
                                             FIGURE 64 GLOBAL INVESTMENTS IN RENEWABLE ENERGY, 2010–2019 (USD BILLION)
                    6.10.5.3 Mining & metals
                               6.10.5.3.1 Use of vibration sensors to identify faults in mining machinery
                    6.10.5.4 Chemicals
                               6.10.5.4.1 Deployment of machine condition monitoring solutions and systems to monitor chemical processes
                    6.10.5.5 Automotive
                               6.10.5.5.1 IoT enables adoption of simple machine condition monitoring solutions
                    6.10.5.6 Aerospace & defense
                               6.10.5.6.1 Adoption of smart factory solutions for machine condition monitoring
                    6.10.5.7 Food & beverages
                               6.10.5.7.1 Rapid technological developments to fuel demand for machine condition monitoring systems and solutions
                    6.10.5.8 Marine
                               6.10.5.8.1 Predictive maintenance gaining significant importance in global marine industry
                    6.10.5.9 Others

7 GEOGRAPHIC ANALYSIS (Page No. - 228)
    7.1 INTRODUCTION
           FIGURE 65 INDUSTRY 4.0 MARKET IN US TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 143 MARKET, BY REGION, 2021–2026 (USD BILLION)
    7.2 NORTH AMERICA
           FIGURE 66 NORTH AMERICA: SNAPSHOT OF MARKET
           7.2.1 US
                    7.2.1.1 Growing manufacturing base accounts for large size of market
           7.2.2 CANADA
                    7.2.2.1 Demand from food & beverage processing industry to drive market
           7.2.3 MEXICO
                    7.2.3.1 Growing government impetus propelling demand for Industry 4.0 technologies
                               TABLE 145 MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
    7.3 EUROPE
           FIGURE 67 EUROPE: SNAPSHOT OF INDUSTRY 4.0 MARKET
           7.3.1 GERMANY
                    7.3.1.1 Government initiatives to promote smart factories drives market growth
           7.3.2 UK
                    7.3.2.1 Growing market for AI and blockchain propels growth of market
           7.3.3 FRANCE
                    7.3.3.1 Increasing government efforts to boost use of AI and IoT technologies in manufacturing sector
           7.3.4 REST OF EUROPE
                    7.3.4.1 Increasing manufacturing base offers lucrative growth opportunities
                               TABLE 146 INDUSTRY 4.0 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION)
                               TABLE 147 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION)
    7.4 APAC
           FIGURE 68 APAC: SNAPSHOT OF MARKET
           7.4.1 CHINA
                    7.4.1.1 Increasing labor costs contribute to growth of market
           7.4.2 JAPAN
                    7.4.2.1 Ongoing developments in smart manufacturing processes to boost market
           7.4.3 INDIA
                    7.4.3.1 Make in India campaign to boost demand for Industry 4.0 solutions in manufacturing sector
           7.4.4 SOUTH KOREA
                    7.4.4.1 Increasing government investments to spur market growth
           7.4.5 REST OF APAC
                    7.4.5.1 Developing manufacturing sector to support market growth
                               TABLE 149 INDUSTRY 4.0 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION)
    7.5 ROW
           FIGURE 69 ROW: SNAPSHOT OF MARKET
           7.5.1 SOUTH AMERICA
                    7.5.1.1 Increasing penetration of AI and IoT technologies in Brazil and Argentina to drive market growth
           7.5.2 MIDDLE EAST & AFRICA
                    7.5.2.1 High adoption of advanced automation solutions in Middle East oil & gas sector
                               TABLE 151 MARKET IN ROW, BY REGION, 2021–2026 (USD BILLION)
    7.6 IMPACT OF COVID-19 ON REGIONS

8 COMPETITIVE LANDSCAPE (Page No. - 244)
    8.1 OVERVIEW
    8.2 TOP 5 COMPANY REVENUE ANALYSIS
           FIGURE 70 FIVE-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN INDUSTRY 4.0 MARKET
    8.3 MARKET SHARE ANALYSIS (2020)
           TABLE 152 INDUSTRIAL ROBOTS MARKET: MARKET SHARE ANALYSIS
           TABLE 153 INDUSTRIAL SENSORS MARKET: MARKET SHARE ANALYSIS
           TABLE 154 INDUSTRIAL 3D PRINTING MARKET: MARKET SHARE ANALYSIS
           TABLE 155 DIGITAL TWIN MARKET: MARKET SHARE ANALYSIS
           TABLE 156 AI IN MANUFACTURING MARKET: MARKET SHARE ANALYSIS
    8.4 COMPANY EVALUATION QUADRANT, 2020
           8.4.1 STAR
           8.4.2 PERVASIVE
           8.4.3 EMERGING LEADER
           8.4.4 PARTICIPANT
                    FIGURE 71 MARKET (GLOBAL) COMPANY EVALUATION QUADRANT, 2020
    8.5 SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION QUADRANT, 2020
           8.5.1 PROGRESSIVE COMPANY
           8.5.2 RESPONSIVE COMPANY
           8.5.3 DYNAMIC COMPANY
           8.5.4 STARTING BLOCK
                    FIGURE 72 MARKET (GLOBAL), SME EVALUATION QUADRANT, 2020
                    TABLE 157 MARKET: COMPANY FOOTPRINT
                    TABLE 158 COMPANY INDUSTRY FOOTPRINT
                    TABLE 159 COMPANY REGION FOOTPRINT
    8.6 COMPETITIVE SCENARIO
           TABLE 160 MARKET: PRODUCT LAUNCHES, MARCH 2020−MARCH 2021
           TABLE 161 MARKET: DEALS, MARCH 2020−MARCH 2021

9 COMPANY PROFILES (Page No. - 257)
(Business overview, Products offered, Recent developments & MnM View)*
    9.1 KEY PLAYERS
           9.1.1 3D SYSTEMS
                    TABLE 162 3D SYSTEMS: BUSINESS OVERVIEW
                    FIGURE 73 3D SYSTEMS: COMPANY SNAPSHOT
           9.1.2 ABB
                    TABLE 163 ABB: BUSINESS OVERVIEW
                    FIGURE 74 ABB: COMPANY SNAPSHOT
           9.1.3 ADVANTECH
                    TABLE 164 ADVANTECH: BUSINESS OVERVIEW
                    FIGURE 75 ADVANTECH: COMPANY SNAPSHOT
           9.1.4 BASLER
                    TABLE 165 BASLER: BUSINESS OVERVIEW
                    FIGURE 76 BASLER: COMPANY SNAPSHOT
           9.1.5 CISCO SYSTEMS
                    TABLE 166 CISCO SYSTEMS: BUSINESS OVERVIEW
                    FIGURE 77 CISCO SYSTEMS: COMPANY SNAPSHOT
           9.1.6 COGNEX CORPORATION
                    TABLE 167 COGNEX CORPORATION: BUSINESS OVERVIEW
                    FIGURE 78 COGNEX CORPORATION: COMPANY SNAPSHOT
           9.1.7 DAIFUKU
                    TABLE 168 DAIFUKU: BUSINESS OVERVIEW
                    FIGURE 79 DAIFUKU: COMPANY SNAPSHOT
           9.1.8 EMERSON ELECTRIC
                    TABLE 169 EMERSON ELECTRIC: BUSINESS OVERVIEW
                    FIGURE 80 EMERSON ELECTRIC: COMPANY SNAPSHOT
           9.1.9 GENERAL ELECTRIC
                    TABLE 170 GENERAL ELECTRIC : BUSINESS OVERVIEW
                    FIGURE 81 GENERAL ELECTRIC: COMPANY SNAPSHOT
           9.1.10 HONEYWELL INTERNATIONAL
                    FIGURE 82 HONEYWELL INTERNATIONAL: COMPANY SNAPSHOT
           9.1.11 IBM
                    TABLE 171 IBM: BUSINESS OVERVIEW
                    FIGURE 83 IBM: COMPANY SNAPSHOT
           9.1.12 INTEL
                    TABLE 172 INTEL: BUSINESS OVERVIEW
                    FIGURE 84 INTEL: COMPANY SNAPSHOT
           9.1.13 JOHN BEAN TECHNOLOGIES CORPORATION
                    TABLE 173 JOHN BEAN TECHNOLOGIES CORPORATION : BUSINESS OVERVIEW
                    FIGURE 85 JOHN BEAN TECHNOLOGIES CORPORATION: COMPANY SNAPSHOT
           9.1.14 NVIDIA
                    TABLE 174 NVIDIA: BUSINESS OVERVIEW
                    FIGURE 86 NVIDIA: COMPANY SNAPSHOT
           9.1.15 SIEMENS
                    TABLE 175 SIEMENS: BUSINESS OVERVIEW
                    FIGURE 87 SIEMENS: COMPANY SNAPSHOT
           9.1.16 STRATASYS
                    TABLE 176 STRATASYS: BUSINESS OVERVIEW
                    FIGURE 88 STRATASYS: COMPANY SNAPSHOT
           9.1.17 TECHMAN ROBOT
                    TABLE 177 TECHMAN ROBOT: BUSINESS OVERVIEW
           9.1.18 UNIVERSAL ROBOTS
                    TABLE 178 UNIVERSAL ROBOTS : BUSINESS OVERVIEW
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
    9.2 OTHER PLAYERS
           9.2.1 ADDVERB TECHNOLOGIES
           9.2.2 AIBRAIN
           9.2.3 ALGOLUX
           9.2.4 BECKHOFF AUTOMATION
           9.2.5 BIGCHAINDB GMBH
           9.2.6 LOGILUBE
           9.2.7 PRATITI TECHNOLOGIES
           9.2.8 SCULPTEO
           9.2.9 SIGFOX

10 ADJACENT AND RELATED MARKETS (Page No. - 326)
     10.1 INTRODUCTION
     10.2 LIMITATIONS
     10.3 EXTENDED REALITY MARKET, BY REGION
               TABLE 179 EXTENDED REALITY MARKET, BY REGION, 2017–2020 (USD BILLION)
               TABLE 180 EXTENDED REALITY MARKET, BY REGION, 2021–2026 (USD BILLION)
             10.3.1 NORTH AMERICA
                       TABLE 181 EXTENDED REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 182 EXTENDED REALITY MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD MILLION)
             10.3.2 EUROPE
                       TABLE 183 EXTENDED REALITY MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 184 EXTENDED REALITY MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
             10.3.3 APAC
                       TABLE 185 EXTENDED REALITY MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                       TABLE 186 EXTENDED REALITY MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
             10.3.4 ROW
                       TABLE 187 EXTENDED REALITY MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)
                       TABLE 188 EXTENDED REALITY MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)

11 APPENDIX (Page No. - 333)
     11.1 INSIGHTS OF INDUSTRY EXPERTS
     11.2 DISCUSSION GUIDE
     11.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     11.4 AVAILABLE CUSTOMIZATIONS
     11.5 RELATED REPORTS
     11.6 AUTHOR DETAILS

The study involves four major activities for estimating the size of the industry 4.0 market. Exhaustive secondary research has been conducted to collect information related to the market. The next step has been the validation of these findings, assumptions, and sizing with the industry experts across the value chain through primary research. The usual two methodologies (top-down and bottom-up approaches) were not suitable to estimate the size of the market. The Industry 4.0 market size is a summation of the market sizes of the individual technologies mentioned in the report. Revenues of top 10 companies for market of each individual technologies was considered and based on that total market size for each individual technology was calculated. In the final step, the market sizes of all the individual technologies were totaled to obtain the overall Industry 4.0 market size.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources such as the European Association for Artificial Intelligence, Material Handling Industry of America (MHI), European Blockchain Association, International Federation of Robotics, IEEE Sensors Council, Digital Twin Consortium, Association of Asset Management Professionals, IEEE SMC, Association of 3D Printing, and European Machine Vision Association (EMVA) have been used to identify and collect information for an extensive technical and commercial study of the industry 4.0 market.

Primary Research

In the primary research process, primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information, as well as assess prospects. Key players in the industry 4.0 market have been identified through secondary research, and their respective market rankings have been determined through primary and secondary research. This research includes the study of annual reports of the top market players and interviews with key opinion leaders, such as chief executive officers (CEOs), directors, and marketing personnel.

Industry 4.0 Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The Industry 4.0 market consists of various technologies such as AI in Manufacturing, Industrial Robots, Industrial Sensors, Machine Vision, Human Machine Interface, Digital Twin, Machine Condition Monitoring, Industrial 3D Printing, and Automated Guided Vehicles.

The usual two methodologies (top-down and bottom-up approaches) were not suitable to estimate the size of the market. The Industry 4.0 market size is a summation of the market sizes of the individual technologies mentioned earlier. Revenues of top 10 companies for market of each individual technologies was considered and based on that total market size for each individual technology was calculated. In the final step, the market sizes of all the individual technologies were totaled to obtain the overall Industry 4.0 market size.

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the total market was split into several segments and subsegments. The market breakdown and data triangulation procedures were employed wherever applicable to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Study Objectives:

  • To define and forecast the size of the Industry 4.0 market based on technology, and region, in terms of value
  • To describe and forecast the size of the Industry 4.0 market in four key regions -- North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW) -- along with their respective countries
  • To provide detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market size
  • To study the complete value chain of the Industry 4.0 market
  • To describe in detail the impact of COVID-19 on the Industry 4.0 market
  • To highlight the impact of COVID-19 on the market segments and players operating in the Industry 4.0 market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Industry 4.0 ecosystem
  • To strategically profile the key players and comprehensively analyze their market position in terms of their ranking and core competencies2, and provide a detailed competitive landscape
  • To analyze competitive developments in the Industry 4.0 market, such as new product launches, acquisitions, collaborations, agreements, and partnerships

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report.

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 5279
Published ON
Jun, 2021
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