In a recent published report, Kenneth Research has updated the market report for Industry 4.0 Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industry 4.0 Market products.
In its database of market research reports, Kenneth Research has recently added a report on ‘Industry 4.0 Market’ that focuses on the key strategies developed by the key players operating in the market, along the growth factors, opportunities and the challenges associated with the growth of the market for the projected period of 2021 2025. The report also provides a full assessment of the micro- and macro-environmental factors by utilizing tools such as PESTEL and Porter’s five forces analysis to analyze the market growth. Additionally, the report consists of the numerical data in terms of value and volume, and also includes detailed analysis on the impact of COVID-19 on the Industry 4.0 Market during the forecast period.
The “Industry 4.0 Market by Industry (Aerospace & Defense, Agriculture, Food, Automotive, Chemical, Electronic & Electrical Hardware, Energy, Power, Oil & Gas, Machine Industry, Pharmaceutical & Biotechnology, Semiconductor and Other Industries) 2018-2023” report forecasts that the global Industry 4.0 market* will reach $214B by 2023. The Industry 4.0 transformation will change long-held dynamics in commerce and global economic balance of power.
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The Final Report will cover the impact analysis of COVID-19 on this industry:
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The report research team:
Reviewed and analyzed over 600 Industry 4.0 reports, papers, vendors and governmental information sources
Participated in 16 round table Industry 4.0 focus groups
Conducted 75 face-to-face interviews with industry executives
Conducted a meta research including more than 4000 industry executives from more than 2,700 companies in 29 countries across 5 continents
The report research team analyzed each dollar spent in the Industry 4.0 market via 5 bottom-up research vectors (see figure 3), thus providing a must have mega report for all decision makers in the Industry 4.0 market.
Some of the world technology giants recognizing the huge business opportunities of the Industry 4.0, invested in R&D, commercialization of Industry 4.0 technologies and acquired smaller technology companies especially in the AI and big data sector. The Industry 4.0 market share race is already led by the global tech. giants (see figure 2). They already invested billions of dollars in Industry 4.0 products R&D, M&A and Commercialization.
The Industry 4.0 competition is not only about technology or offering the best products, but also, about the companies that gather the best data and combine them to offer the best digital services. Those who know what the customer wants and can forecast consumer demand, will provide the information to develop an unfair competitive advantage.
In the next decades, businesses will establish global networks that incorporate their machinery, warehousing systems and production facilities in the shape of Cyber-Physical Systems (CPS). In the manufacturing environment, these cyber-physical systems comprise smart machines, storage systems and production facilities capable of autonomously exchanging information, triggering actions and controlling each other independently. These changes add to the traditional business pressure on manufacturers, but also offer unprecedented opportunities to optimize production processes.
This facilitates fundamental improvements to the industrial processes involved in manufacturing, engineering, material purchasing & usage, supply chain and life cycle management, predictive maintenance and real-time management overview. The smart factories that have already appeared across most industries employ a completely novel approach to production. Smart products are uniquely identifiable, they can be located at all times, know their own history, current status and alternative routes to achieving their target state. The embedded manufacturing systems are vertically networked with business processes within factories and enterprises and horizontally connected to dispersed value networks that can be managed in real time from the moment an order is placed right through to outbound logistics. In addition, they both enable and require end-to-end engineering across the entire value chain.
Industry 4.0 holds immense potential. Smart factories allow individual customer requirements to be met and mean that even one-off items can be manufactured profitably. In Industry 4.0, dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers.
End-to-end transparency is provided over the manufacturing process, facilitating optimized decision-making. Industry 4.0 will also result in new ways of creating value and novel business models. It will provide start-ups and SMEs with the opportunity to develop and provide downstream services.
The major winners might be those that control Industry 4.0 platforms , software layers that syndicate various devices, information and services, on top of which other firms can build their own offerings.
The transformation of the economy being brought about by Industry 4.0 means that business processes such as supply, manufacturing, maintenance, delivery and customer service will all be connected via the Industrial IoT systems. These extremely flexible value networks will require new forms of collaboration between companies, both nationally and globally.
Governments and the private sector of countries with high labor costs (e.g., EU countries and the U.S.A.) invest in Industry 4.0 to increase their industrial base which has been taken over by low labor cost countries (see figure below). Low labor costs industries and their governments (e.g., China, India and Cambodia) are reacting to this trend by investing in Industry 4.0 as well. To maintain their industrial base, governments across the globe, fund Industry 4.0 projects, R&D, provide subsidies and tax incentives to Industry 4.0 investors.
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In 2018-2023, the market will undergo a major transformation through the following drivers:
Global competition in the manufacturing sector is becoming fiercer and fiercer
The Nokia syndrome challenge, (by 2007 Nokia smartphone market share was 52%. Nokia’s management didn’t react to the 2007 launch of the iPhone, leading Nokia to a catastrophic fall in their market share to 2% by 2012).
When Industry 4.0 knocks on your door, open it or perish
Unprecedented opportunities to optimize production processes
Governments and the private sector of high labor costs economies invest in Industry 4.0 to increase their industrial base taken by low labor cost countries
Governments of low labor costs economies invest in Industry 4.0 to maintain their industrial base taken by high labor cost countries Industry 4.0 investments
Government-funded Industry 4.0 projects, R&D, subsidies and tax incentives
Industry 4.0 offers start-ups and SMEs the opportunity to develop and provide downstream services
Industry 4.0 dynamic business and engineering processes enable last-minute changes to production and deliver the ability to respond flexibly to disruptions and failures on behalf of suppliers and customers
Industry 4.0 provides the link to the consumer, and can forecast consumer demand
The “Industry 4.0 Market by Industry (Aerospace & Defense, Agriculture, Food, Automotive, Chemical, Electronic & Electrical Hardware, Energy, Power, Oil & Gas, Machine Industry, Pharmaceutical & Biotechnology, Semiconductor and Other Industries) 2018-2023” report is the most comprehensive review of this emerging market available today. It provides a detailed and reasoned roadmap of this rapidly growing market.
The report analyzes each dollar spent in the Industry 4.0 market via 5 bottom-up research vectors (see figure 3), thus providing a must-have mega report for all decision-makers in the Industry 4.0 market.
The report is aimed at:
Industry 4.0 products vendors
Industry 4.0 systems integrators
Government industry agencies
Manufacturing companies, SME included
The report has been explicitly customized for the industry and government decision-makers to enable them to identify business opportunities, emerging technologies, market trends and risks, as well as to benchmark business plans.
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Questions answered in this 545-page market report include:
What was the 138 submarkets size and what were the trends during 2016 & 2017?
What is the 2018-2023 forecast for each of the 138 submarkets?
Which industries and technologies provide attractive business opportunities?
What drives the Industry 4.0 managers to purchase solutions and services?
What are the technology & services trends?
What are the market SWOT (Strengths, Weaknesses, Opportunities and Threats)?
With 545 pages, 98 tables and 115 figures, this 4-volume report covers 10 industries, 4 revenue sources, 5 regional and 22 national markets, offering for each of them 2016-2017 estimates and 2018-2023 forecasts and analyses.
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