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.
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This report is the most comprehensive review of this market available today – it is based on thousands of sources as shown below:
Industry 4.0 Market & Technologies Reports Comparison
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Table 1 – Industry 4.0 Research – Report Sources & Contents
HSRC research methodology was based on the following research activities:
31 Industry 4.0 round table focus groups with 87 leading industry executives from 17 countries
79 face-to-face interviews with industry 4.0 executives
Meta-research*** based on >4000 industry responders in 27 countries and over 2000 companies
Review of 477 reports and papers
49 Industry 4.0 vendors research
Cross-check of 188 submarkets via 5 bottom-up research vectors (see Figure 2)
The Industry 4.0 transformation will change long-held dynamics in commerce and global economic balance of power.
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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. 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. On the one hand, these changes add to the traditional business pressure on manufacturers, but on the other hand also offer unprecedented opportunities to optimize the production and manufacturing processes.
Industry 4.0 facilitates fundamental improvements in the industrial processes involved in manufacturing, engineering, material purchasing and 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, meaning 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 Industry 4.0 competition is not only about technology or offering the best products; it is also, and in particular, about the companies that gather the appropriate data, combine them to provide the best digital services, and in addition, utilize the data for their own benefit. Those who know what the customer wants, and can forecast consumer demand, will provide the information to develop an unfair competitive advantage.
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 Industry 4.0 market & technologies race is led by the global tech giants (see Figure 3) that invest billions of dollars in Industry 4.0 products R&D, M&A, commercialization and internal use.
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.
To maintain their industrial base and create new jobs, governments across the globe invest billions of dollars in Industry 4.0 projects and R&D, and provide subsidies and tax incentives for Industry 4.0 investors.
On the one hand, governments and private sectors of countries with high labor costs (e.g., EU countries and the U.S.) invest in Industry 4.0 to increase their industrial sector, which has been taken over by low labor cost countries (see Figure 4); and on the other hand, low labor costs industries and their governments (e.g., China, India and Cambodia) react to this trend by investing in Industry 4.0 as well.
Fast growing market, expected to reach $1 Trillion by the early 2030s
Global competition in the manufacturing sector is becoming fiercer and fiercer
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
The private sector and 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
End-to-end transparency provided over the manufacturing process, facilitating optimized decision-making
Industry 4.0 provides the link to the consumer, and can forecast consumer demand
The report is aimed at:
Industry 4.0 Products Vendors
Industry 4.0 Systems Integrators
Government Industry Agencies
Startups and R&D Managers
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.
Questions answered in this 640-page 4-volume market report include:
What was the 188 Industry 4.0 submarkets size and what were the trends during 2016 & 2017?
What is the 2018-2023 forecast for each of the 188 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 640 pages, 120 tables and 150 figures, this 4-volume report covers 10 industries, 10 technologies, 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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