Latest News- Industry 4.0 Market: Industrial IoT is expected to lead the Application segment during 2025-2029

The Industry 4.0 Market is being driven by Need for simplification of complex manufacturing activities

The Industry 4.0 Market is expected to grow at a CAGR of 29.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 471.6 billion. In the realm of Industry 4.0, virtualization plays a pivotal role in industrial and factory automation. Hypervisors, as software solutions, enable the creation and operation of virtual machines, which host operating systems and applications. This technology allows for multiple operating systems to function concurrently on a single primary operating system. Virtualization can be implemented across various communication layers, including servers, storage, desktops, files, and networks. The benefits of this approach include optimized resource utilization, seamless operations, and energy savings. Traditional physical servers, which can only run one operating system and application at a time, hinder performance. By embracing virtualization, businesses can unlock greater efficiency and cost savings in their industrial operations. 

Get more information on Industry 4.0 Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Industrial IoT
  • Smart factory
  • Industrial automation
• End-user
  • Manufacturing
  • Automotive
  • Energy and utilities
  • Oil and gas
  • Others
• Component
  • Hardware
  • Software or platforms
  • Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need for simplification of complex manufacturing activities
• Increasing demand for automation to achieve efficiency and quality
• Increasing focus on smart factories

However, the market also witnesses some limitations, which are as follows:

• Technical challenges associated with implementation of Industry 4.0 technologies
• Data privacy and security concerns associated with Industry 4.0 solutions
• Lack of skilled professionals in Industry 4.0

Benefits of Buying Global Industry 4.0 Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Industry 4.0 Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the rapidly evolving Industry 4.0 market, robotics and 3D printing play a pivotal role in manufacturing, while sustainability and resource optimization are key priorities through the use of green technologies, clean energy, and waste recycling. Climate change mitigation is achieved through edge computing, real-time data processing, AI algorithms, and sensor technologies. Sensor networks monitor physical assets, providing virtual representations for real-time monitoring. Cloud computing, machine learning, advanced sensors, embedded software, and smart factories optimize enterprise resource planning and supply chain operations. Customer support and enterprise systems benefit from AI and advanced analytics.

Market Research Overview

The Industry 4.0 market encompasses a vast landscape, primarily focusing on robotics, 3D printing, and IT software. More specifically, this market includes companies specializing in robotics and automation, 3D printing technologies, and the development and production of application and systems software. These organizations contribute significantly to sustainability efforts through resource optimization, green technologies, clean energy, waste recycling, and climate change mitigation. Key areas of focus include carbon emission tracking, green infrastructure development, lean production, and climate action. Furthermore, the integration of renewable energy, waste-to-energy solutions, and lean production methodologies is crucial in reducing environmental footprints and promoting emissions reductions. The global IT software market, a significant segment of Industry 4.0, covers application and systems software development, database management, cloud computing, data centers, hosting, IT management, mobility, networking, security, and storage solutions. This market size is determined by the combined revenue generated by companies providing all types of systems software, including cloud-based offerings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/