Table of Content

1 INTRODUCTION 34
1.1 OBJECTIVES OF THE STUDY 34
1.2 DEFINITION 34
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 STUDY SCOPE 36
1.3.1 MARKETS COVERED 36
FIGURE 1 INDUSTRY 4.0 MARKET SEGMENTATION 36
1.3.2 GEOGRAPHIC SCOPE 36
1.3.3 YEARS CONSIDERED 37
1.4 CURRENCY 37
1.5 LIMITATIONS 37
1.6 STAKEHOLDERS 38
1.7 SUMMARY OF CHANGES 38
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
FIGURE 2 INDUSTRY 4.0: RESEARCH DESIGN 40
2.1.1 SECONDARY AND PRIMARY RESEARCH 42
2.1.2 SECONDARY DATA 43
TABLE 1 LIST OF SECONDARY SOURCES 43
2.1.2.1 Key secondary sources 44
2.1.3 PRIMARY DATA 45
2.1.3.1 Key data from primary sources 45
2.1.3.2 Primary interviews with experts 46
2.1.3.3 Key industry insights 46
2.1.3.4 Breakdown of primaries 47
2.2 MARKET SIZE ESTIMATION 47
FIGURE 3 SIZE ESTIMATION METHODOLOGY FOR MACHINE CONDITION MONITORING MARKET USING SUPPLY-SIDE ANALYSIS 47
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 48
FIGURE 4 DATA TRIANGULATION 48
2.4 RESEARCH ASSUMPTIONS 49
2.5 RISK ASSESSMENTS 50
TABLE 2 LIMITATIONS AND ASSOCIATED RISKS 50
?
3 EXECUTIVE SUMMARY 51
TABLE 3 INDUSTRY 4.0 MARKET, 2017–2020 (USD BILLION) 52
TABLE 4 INDUSTRY 4.0 MARKET, 2021–2026 (USD BILLION) 52
FIGURE 5 EFFECT OF COVID-19 ON INDUSTRY 4.0 MARKET 53
3.1 POST-COVID-19 SCENARIO 53
TABLE 5 POST-COVID-19 SCENARIO: INDUSTRY 4.0 MARKET,
2021–2026 (USD BILLION) 53
3.2 OPTIMISTIC SCENARIO (POST-COVID-19) 53
TABLE 6 OPTIMISTIC SCENARIO (POST-COVID-19): INDUSTRY 4.0 MARKET,
2021–2026 (USD BILLION) 53
3.3 PESSIMISTIC SCENARIO (POST-COVID-19) 54
TABLE 7 PESSIMISTIC SCENARIO (POST-COVID-19): INDUSTRY 4.0 MARKET,
2021–2026 (USD BILLION) 54
FIGURE 6 INDUSTRIAL SENSORS SEGMENT TO LEAD INDUSTRY 4.0 MARKET FROM 2021 TO 2026 55
FIGURE 7 APAC TO HOLD LARGEST SHARE OF INDUSTRY 4.0 MARKET IN 2021 56
4 PREMIUM INSIGHTS 57
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRY 4.0 MARKET 57
FIGURE 8 RAPID ADOPTION OF AI, IOT, AND BLOCKCHAIN TECHNOLOGIES IN MANUFACTURING SECTOR TO FUEL INDUSTRY 4.0 MARKET
FROM 2021 TO 2026 57
4.2 INDUSTRY 4.0 MARKET, BY TECHNOLOGY 58
FIGURE 9 INDUSTRIAL SENSORS SEGMENT TO ACCOUNT FOR LARGEST SIZE OF INDUSTRY 4.0 MARKET FROM 2021 TO 2026 58
4.3 INDUSTRY 4.0 MARKET, BY TECHNOLOGY AND REGION 58
FIGURE 10 APAC TO HOLD LARGEST SIZE OF INDUSTRY 4.0 MARKET IN 2026 58
4.4 INDUSTRY 4.0 MARKET, BY COUNTRY 59
FIGURE 11 INDUSTRY 4.0 MARKET IN US TO RECORD HIGHEST CAGR
FROM 2021 TO 2026 59
5 MARKET OVERVIEW 60
5.1 INTRODUCTION 60
5.2 MARKET DYNAMICS 60
FIGURE 12 MARKET DYNAMICS: INDUSTRY 4.0 MARKET, 2020 60
5.2.1 DRIVERS 61
5.2.1.1 Rapid adoption of Artificial Intelligence (AI) and Internet of Things (IoT) in manufacturing sector 61
5.2.1.2 Increasing demand for industrial robots in pharmaceutical and medical device manufacturing sector 61
5.2.1.3 Rising government investments in 3D printing and additive manufacturing 61
TABLE 8 GOVERNMENT INVESTMENTS IN 3D PRINTING PROJECTS 62
5.2.1.4 Growing adoption of blockchain technology in manufacturing industry 62
FIGURE 13 INDUSTRY 4.0 MARKET: IMPACT ANALYSIS OF DRIVERS AND OPPORTUNITIES 63
5.2.2 RESTRAINTS 63
5.2.2.1 Lack of skilled workforce conversant with new developments in AI and IoT technologies 63
5.2.2.2 Restricted use of industrial robots in startups due to high implementation costs 64
5.2.2.3 High cost of 3D printing materials prevents small companies from competing with big players 64
5.2.2.4 Negative health effects of excessive use of AR & VR 64
FIGURE 14 INDUSTRY 4.0 MARKET: IMPACT ANALYSIS OF RESTRAINTS
AND CHALLENGES 65
5.2.3 OPPORTUNITIES 65
5.2.3.1 Increasing application of AI and IoT in medical wearables 65
5.2.3.2 Rising popularity of 5G in cloud robotics sector 66
5.2.3.3 Surge in use of 3D printing technology for medical equipment and customized drugs during COVID-19 pandemic 66
5.2.4 CHALLENGES 66
5.2.4.1 Susceptibility of IoT and AI technologies to cyber attacks 66
5.2.4.2 Interoperability and integration issues of industrial robots 66
5.2.4.3 High cost associated with deployment of VR technology 66
FIGURE 15 COST ANALYSIS: VR EQUIPMENT 67
5.3 VALUE CHAIN ANALYSIS 67
FIGURE 16 INDUSTRY 4.0 MARKET: VALUE CHAIN 67
5.4 PORTER’S FIVE FORCES ANALYSIS 69
TABLE 9 INDUSTRY 4.0 MARKET: PORTER’S FIVE FORCES ANALYSIS 69
5.5 ECOSYSTEM ANALYSIS 70
FIGURE 17 INDUSTRY 4.0 ECOSYSTEM 70
TABLE 10 ECOSYSTEM: INDUSTRY 4.0 71
5.6 REVENUE SHIFT AND NEW REVENUE POCKETS FOR INDUSTRY 4.0 MARKET 72
FIGURE 18 INDUSTRY 4.0 (YC-YCC SHIFT) 72
5.7 CASE STUDY ANALYSIS 73
TABLE 11 IMPLEMENTATION OF INDUSTRY 4.0 SOLUTION AT HOMBURG PLANT - BOSCH REXROTH 73
TABLE 12 IMPLEMENTATION OF FULLY AUTOMATED PRODUCTION LINE AT FORD 73
5.8 TECHNOLOGY ANALYSIS 74
5.8.1 CLOUD COMPUTING 74
5.8.2 5G 74
5.8.3 MACHINE LEARNING IN COMPUTER VISION 74
5.9 PRICING ANALYSIS 75
TABLE 13 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR AGV 75
TABLE 14 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR COLLABORATIVE ROBOTS 75
TABLE 15 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR MACHINE CONDITION MONITORING SENSORS 76
TABLE 16 AVERAGE SELLING PRICE (ASP) TREND OF TOP COMPANIES FOR VIBRATION MONITORING SYSTEMS 76
5.10 TRADE ANALYSIS 76
5.10.1 IMPORT & EXPORT SCENARIO 76
FIGURE 19 IMPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) 77
TABLE 17 IMPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 842710) 77
FIGURE 20 EXPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) 77
TABLE 18 EXPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 842710) 78
FIGURE 21 IMPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) 78
TABLE 19 IMPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 847950) 78
FIGURE 22 EXPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) 79
TABLE 20 EXPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 847950) 79
FIGURE 23 IMPORT, BY COUNTRY 2016?2020 (USD MILLION) 80
TABLE 21 IMPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 903190) 80
FIGURE 24 EXPORT, BY COUNTRY, 2016?2020 (USD MILLION) 81
TABLE 22 EXPORT, BY COUNTRY, 2016?2020 (USD THOUSAND) (HS CODE 903190) 81
5.11 PATENT ANALYSIS 82
FIGURE 25 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 82
TABLE 23 TOP 10 PATENT OWNERS IN US IN LAST 10 YEARS 82
FIGURE 26 NUMBER OF PATENTS GRANTED PER YEAR FROM 2011 TO 2020 83
5.12 MARKET STANDARDS 83
TABLE 24 STANDARDS RELATED TO IOT IN MANUFACTURING 83
5.12.1 STANDARDS RELATED TO INDUSTRIAL ROBOTS 83
TABLE 25 STANDARDS RELATED TO 3D PRINTING AND ADDITIVE MANUFACTURING 84
5.12.2 STANDARDS RELATED TO MACHINE CONDITION MONITORING 84
6 INDUSTRY 4.0 MARKET, BY TECHNOLOGY 85
FIGURE 27 INDUSTRY 4.0 MARKET, BY TECHNOLOGY 85
6.1 INDUSTRY 4.0 MARKET FOR INDUSTRIAL ROBOTS 86
6.1.1 TRADITIONAL INDUSTRIAL ROBOTS 86
TABLE 26 INDUSTRY 4.0 MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION) 86
TABLE 27 INDUSTRY 4.0 MARKET FOR TRADITIONAL ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION) 87
TABLE 28 INDUSTRY 4.0 MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION) 87
TABLE 29 INDUSTRY 4.0 MARKET FOR TRADITIONAL ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION) 87
6.1.1.1 Articulated robots 87
6.1.1.2 Cartesian Robots 88
6.1.1.3 Selective Compliance Assembly Robot Arm (SCARA) 88
6.1.1.4 Cylindrical Robots 88
6.1.1.5 Other robots 89
6.1.2 COLLABORATIVE ROBOTS 89
6.1.2.1 Emerging trend in robotics industry 89
TABLE 30 INDUSTRY 4.0 MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION) 89
TABLE 31 INDUSTRY 4.0 MARKET FOR COLLABORATIVE ROBOTS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION) 89
TABLE 32 INDUSTRY 4.0 MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION) 90
TABLE 33 INDUSTRY 4.0 MARKET FOR COLLABORATIVE ROBOTS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION) 90
6.2 INDUSTRY 4.0 MARKET FOR BLOCKCHAIN IN MANUFACTURING 90
6.2.1 DEFINITION 90
6.2.2 BLOCKCHAIN IN MANUFACTURING 90
FIGURE 28 TYPICAL APPLICATIONS OF BLOCKACHAIN IN MANUFACTURING SECTOR 91
6.2.2.1 Drivers contributing to growth of industry 4.0 market for blockchain in manufacturing 91
6.2.2.1.1 Increasing demand for real-time data analyses, enhanced visibility, and proactive maintenance in manufacturing industry 91
6.2.2.2 Challenges to growth of industry 4.0 market for blockchain in manufacturing 92
6.2.2.2.1 Concerns regarding security, privacy, and control 92
TABLE 34 STARTUP COMPANIES INVOLVED IN INDUSTRY 4.0 MARKET FOR BLOCKCHAIN IN MANUFACTURING 92
TABLE 35 FUNDING ANALYSIS FOR STARTUPS INVOLVED IN INDUSTRY 4.0 MARKET FOR BLOCKCHAIN IN MANUFACTURING 93
6.3 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS 93
TABLE 36 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY SENSOR TYPE,
2017–2020 (USD MILLION) 94
TABLE 37 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY SENSOR TYPE,
2021–2026 (USD MILLION) 94
TABLE 38 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY TYPE,
2017–2020 (USD MILLION) 95
TABLE 39 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY TYPE,
2021–2026 (USD MILLION) 95
6.3.1 LEVEL SENSORS 95
6.3.1.1 Used for level sensing and measurement in factories 95
6.3.2 TEMPERATURE SENSORS 96
6.3.2.1 Growing use in process and non-process applications 96
6.3.3 FLOW SENSORS 96
6.3.3.1 Increasing demand in oil & energy industries 96
6.3.4 POSITION SENSORS 96
6.3.4.1 Increasing application areas due to technological advancements 96
6.3.5 PRESSURE SENSORS 96
6.3.5.1 Used in semiconductor processing, robotics, and test & measurement applications 96
6.3.6 FORCE SENSORS 97
6.3.6.1 Increasing use of force sensors in automated robots 97
6.3.7 HUMIDITY & MOISTURE SENSORS 97
6.3.7.1 High demand in chemicals, pharmaceuticals, oil & gas,
and food & beverages industries 97
6.3.8 GAS SENSORS 97
6.3.8.1 Used in industries to measure concentration of gases in air 97
TABLE 40 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION) 97
TABLE 41 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION) 98
TABLE 42 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION) 98
TABLE 43 INDUSTRY 4.0 MARKET FOR INDUSTRIAL SENSORS, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION) 98
6.4 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING 99
6.4.1 EVOLUTION OF INDUSTRIAL 3D PRINTING TO DRIVE INDUSTRY 4.0 MARKET 99
TABLE 44 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY OFFERINGS, 2017–2020 (USD MILLION) 99
TABLE 45 INDUSTRY 4.0 FOR INDUSTRIAL 3D PRINTING, BY OFFERINGS,
2021–2026 (USD MILLION) 100
TABLE 46 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2017–2020 (USD MILLION) 100
TABLE 47 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY TECHNOLOGY, 2021–2026 (USD MILLION) 101
TABLE 48 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS,
2017–2020 (USD MILLION) 101
TABLE 49 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS,
2021–2026 (USD MILLION) 102
TABLE 50 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION) 102
TABLE 51 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION) 102
TABLE 52 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION) 103
TABLE 53 INDUSTRY 4.0 MARKET FOR INDUSTRIAL 3D PRINTING, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION) 103
6.5 INDUSTRY 4.0 MARKET FOR MACHINE VISION 103
TABLE 54 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY PRODUCT,
2017–2020 (USD MILLION) 104
TABLE 55 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY PRODUCT,
2021–2026 (USD MILLION) 104
TABLE 56 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY COMPONENT,
2017–2020 (USD MILLION) 104
TABLE 57 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY COMPONENT,
2021–2026 (USD MILLION) 104
TABLE 58 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY HARDWARE,
2017–2020 (USD MILLION) 105
TABLE 59 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY HARDWARE,
2021–2026 (USD MILLION) 105
TABLE 60 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY PROCESS INDUSTRY, 2017–2020 (USD MILLION) 105
TABLE 61 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY PROCESS INDUSTRY, 2021–2026 (USD MILLION) 106
TABLE 62 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY DISCRETE INDUSTRY, 2017–2020 (USD MILLION) 106
TABLE 63 INDUSTRY 4.0 MARKET FOR MACHINE VISION, BY DISCRETE INDUSTRY, 2021–2026 (USD MILLION) 106
6.5.1 CAMERA 107
6.5.1.1 Digital Camera 107
6.5.1.2 Smart Camera 107
6.5.2 FRAME GRABBERS, OPTICS, AND LED LIGHTING 107
6.5.2.1 Increasing demand for LED and laser lighting 108
6.5.3 PROCESSOR AND SOFTWARE 108
6.5.3.1 Important part of machine vision systems 108
6.6 INDUSTRY 4.0 MARKET FOR HMI 108
6.6.1 INDUSTRY 4.0 MARKET FOR HMI, BY OFFERING 108
FIGURE 29 HMI MARKET, BY OFFERING 108
TABLE 64 INDUSTRY 4.0 MARKET FOR HMI, BY OFFERING, 2017–2020 (USD MILLION) 109
TABLE 65 INDUSTRY 4.0 MARKET FOR HMI, BY OFFERING, 2021–2026 (USD MILLION) 109
6.6.1.1 Hardware 109
FIGURE 30 INDUSTRY 4.0 MARKET FOR HMI, BY HARDWARE 109
TABLE 66 INDUSTRY 4.0 MARKET FOR HMI, BY HARDWARE,
2017–2020 (USD MILLION) 110
TABLE 67 INDUSTRY 4.0 MARKET FOR HMI, BY HARDWARE,
2021–2026 (USD MILLION) 110
6.6.1.1.1 Basic HMI 110
6.6.1.1.1.1 High demand for simple and price-sensitive applications 110
6.6.1.1.2 Advanced Panel-based HMI 111
6.6.1.1.2.1 Ability to implement high-performance visualization 111
6.6.1.1.3 Advanced PC-based HMI 111
6.6.1.1.3.1 Offers IoT and cloud connectivity for big data analytics 111
6.6.1.1.4 Others 111
6.6.1.2 Software 112
FIGURE 31 HMI MARKET, BY SOFTWARE 112
6.6.1.2.1 On-premises HMI 112
6.6.1.2.1.1 Increased adoption due to need for data security and customization 112
6.6.1.2.2 Cloud-based HMI 113
6.6.1.2.2.1 Low installation cost encourages adoption by small enterprises 113
TABLE 68 INDUSTRY 4.0 MARKET FOR HMI, BY SOFTWARE, 2017–2020 (USD MILLION) 113
TABLE 69 INDUSTRY 4.0 MARKET FOR HMI, BY SOFTWARE, 2021–2026 (USD MILLION) 113
6.6.1.3 Services 114
6.6.2 INDUSTRY 4.0 MARKET FOR HMI, BY CONFIGURATION 114
FIGURE 32 INDUSTRY 4.0 MARKET FOR HMI, BY CONFIGURATION 114
TABLE 70 INDUSTRY 4.0 MARKET FOR HMI, BY CONFIGURATION,
2017–2020 (USD MILLION) 114
TABLE 71 INDUSTRY 4.0 MARKET FOR HMI, BY CONFIGURATION,
2021–2026 (USD MILLION) 115
6.6.2.1 Embedded HMI 115
6.6.2.1.1 Offers enormous benefits to end users 115
6.6.2.2 Standalone HMI 115
6.6.2.2.1 Requirement for smaller HMI solutions drives demand 115
6.6.3 INDUSTRY 4.0 MARKET FOR HMI, BY TECHNOLOGY 116
6.6.3.1 Motion HMI 116
6.6.3.2 Bionic HMI 116
6.6.3.3 Tactile HMI 116
6.6.3.4 Acoustic HMI 116
6.6.4 INDUSTRY 4.0 MARKET FOR HMI, BY END-USER INDUSTRY 116
FIGURE 33 INDUSTRY 4.0 MARKET FOR HMI, BY END-USER INDUSTRY 117
TABLE 72 INDUSTRY 4.0 MARKET FOR HMI, BY END-USER INDUSTRY,
2017–2020 (USD MILLION) 117
TABLE 73 INDUSTRY 4.0 MARKET FOR HMI, BY END-USER INDUSTRY,
2021–2026 (USD MILLION) 117
6.6.4.1 Process industries 118
FIGURE 34 INDUSTRY 4.0 MARKET FOR HMI, BY PROCESS INDUSTRIES 118
TABLE 74 INDUSTRY 4.0 MARKET FOR HMI, BY PROCESS INDUSTRIES,
2017–2020 (USD MILLION) 118
TABLE 75 INDUSTRY 4.0 MARKET FOR HMI, BY PROCESS INDUSTRIES,
2021–2026 (USD MILLION) 119
6.6.4.1.1 Oil & Gas 119
6.6.4.1.1.1 Increasing demand for HMI solutions for remote monitoring 119
6.6.4.1.2 Food & beverages 120
6.6.4.1.2.1 Stringent quality requirements encourage adoption of HMI solutions 120
6.6.4.1.3 Pharmaceuticals 120
6.6.4.1.3.1 Surging adoption of HMI solutions due to complex manufacturing processes 120
6.6.4.1.4 Chemicals 120
6.6.4.1.4.1 Demand for HMI solutions to increase operational efficiency 121
6.6.4.1.5 Energy & power 121
6.6.4.1.5.1 Surging demand for advanced monitoring solutions 121
6.6.4.1.6 Metals & mining 121
6.6.4.1.6.1 High-risk operations require adoption of HMI solutions 122
6.6.4.1.7 Water & wastewater 122
6.6.4.1.7.1 Technological advancements in water treatment operations raise need for HMI solutions 122
6.6.4.1.8 Others 122
6.6.4.2 Discrete industry 122
FIGURE 35 INDUSTRY 4.0 MARKET FOR HMI, BY DISCRETE INDUSTRIES 123
TABLE 76 INDUSTRY 4.0 MARKET FOR HMI, BY DISCRETE INDUSTRY,
2017–2020 (USD MILLION) 123
TABLE 77 INDUSTRY 4.0 MARKET FOR HMI, BY DISCRETE INDUSTRY,
2021–2026 (USD MILLION) 123
6.6.4.2.1 Automotive 124
6.6.4.2.1.1 Technological innovations to boost demand for HMI solutions 124
6.6.4.2.2 Aerospace & defense 124
6.6.4.2.2.1 Adoption of HMI solutions to ensure reliability of equipment 125
6.6.4.2.3 Packaging 125
6.6.4.2.3.1 Increasing emphasis on quality packaging boosts demand for HMI solutions 125
6.6.4.2.4 Medical devices 125
6.6.4.2.4.1 Growing need to monitor medical device manufacturing processes 126
6.6.4.2.5 Semiconductor & electronics 126
6.6.4.2.5.1 High competition increases demand for HMI solutions 126
6.6.4.2.6 Other discrete industries 126
6.7 INDUSTRY 4.0 MARKET FOR ARTIFICIAL INTELLIGENCE IN MANUFACTURING 127
TABLE 78 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING,
2017–2026 (USD MILLION) 127
6.7.1 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY OFFERING 127
TABLE 79 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY OFFERING,
2017–2020 (USD MILLION) 128
TABLE 80 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY OFFERING,
2021–2026 (USD MILLION) 128
6.7.1.1 Hardware 128
TABLE 81 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY HARDWARE,
2017–2020 (USD MILLION) 129
TABLE 82 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY HARDWARE,
2021–2026 (USD MILLION) 129
6.7.1.1.1 Processor 129
FIGURE 36 GPU MARKET TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 130
TABLE 83 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY PROCESSOR,
2017–2020 (USD MILLION) 130
TABLE 84 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY PROCESSOR,
2021–2026 (USD MILLION) 131
6.7.1.1.1.1 MPU 131
6.7.1.1.1.2 GPU 131
6.7.1.1.1.3 FPGA 131
6.7.1.1.1.4 ASIC 132
6.7.1.1.2 Memory 132
6.7.1.1.2.1 Development and deployment of high-bandwidth memory for AI applications 132
6.7.1.1.3 Network 133
6.7.1.1.3.1 Increasing demand for next generation networks in smart factories 133
6.7.1.2 Software 133
TABLE 85 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR OFFERING,
BY SOFTWARE, 2017–2020 (USD MILLION) 133
TABLE 86 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR OFFERING,
BY SOFTWARE, 2021–2026 (USD MILLION) 133
6.7.1.2.1 AI solutions 134
6.7.1.2.1.1 On-premises 134
6.7.1.2.1.1.1 Preferred by data-sensitive enterprises 134
6.7.1.2.1.2 Cloud 134
6.7.1.2.1.2.1 AI solution providers focusing on development of robust cloud-based solutions 134
6.7.1.2.2 AI platform 134
6.7.1.2.2.1 Machine learning framework 135
6.7.1.2.2.1.1 Helps speed up smart factory operations 135
6.7.1.2.2.2 Application program interface 136
6.7.1.2.2.2.1 Provides building blocks for software applications 136
6.7.1.3 Services 136
TABLE 87 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY SERVICES,
2017–2020 (USD MILLION) 136
TABLE 88 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY SERVICES,
2021–2026 (USD MILLION) 136
6.7.1.3.1 Deployment & integration 137
6.7.1.3.1.1 Key service for configuring AI systems in manufacturing 137
6.7.1.3.2 Support & maintenance 137
6.7.1.3.2.1 Required to keep systems at an acceptable standard 137
6.7.1.4 Impact of COVID-19 on various AI technology offerings for manufacturing 137
6.7.2 INDUSTRY 4.0 MARKET FOR ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY TECHNOLOGY 138
TABLE 89 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY TECHNOLOGY, 2017–2020 (USD MILLION) 138
TABLE 90 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY TECHNOLOGY, 2021–2026 (USD MILLION) 138
FIGURE 37 MACHINE LEARNING TO HOLD LARGEST SHARE OF INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING IN 2020 AND 2026 139
6.7.2.1 Machine learning 139
TABLE 91 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING,
FOR MACHINE LEARNING, BY TYPE, 2017–2020 (USD MILLION) 140
TABLE 92 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING,
FOR MACHINE LEARNING, BY TYPE, 2021–2026 (USD MILLION) 140
6.7.2.1.1 Deep learning 141
6.7.2.1.1.1 In demand for predictive maintenance and quality control purposes 141
6.7.2.1.2 Supervised learning 141
6.7.2.1.2.1 Used for facial recognition and other applications 141
6.7.2.1.3 Reinforcement learning 142
6.7.2.1.3.1 Allows systems and software to determine ideal behavior to maximize performance 142
6.7.2.1.4 Unsupervised learning 142
6.7.2.1.4.1 Uses clustering methods on unlabeled training data 142
6.7.2.1.5 Others 142
6.7.2.2 Natural language processing 143
6.7.2.2.1 Serves wide range of speech recognition applications 143
6.7.2.3 Context-aware computing 143
6.7.2.3.1 Accelerated growth due to development of sophisticated hard and soft sensors 143
TABLE 93 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR CONTEXT-AWARE COMPUTING, BY TYPE, 2017–2020 (USD MILLION) 144
TABLE 94 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, FOR CONTEXT-AWARE COMPUTING, BY TYPE, 2021–2026 (USD MILLION) 144
6.7.2.4 Computer vision 144
6.7.2.4.1 Used for predictive maintenance and machinery inspection purposes 144
6.7.3 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY APPLICATION 145
TABLE 95 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY APPLICATION, 2017–2020 (USD MILLION) 146
TABLE 96 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY APPLICATION, 2021–2026 (USD MILLION) 146
FIGURE 38 QUALITY CONTROL TO WITNESS HIGHEST GROWTH THROUGH FORECAST PERIOD 147
6.7.3.1 Predictive maintenance and machinery inspection 147
6.7.3.1.1 Provides framework for all planned maintenance activities 147
6.7.3.2 Material movement 148
6.7.3.2.1 AI-based technology streamlines in-plant logistics 148
6.7.3.3 Production planning 148
6.7.3.3.1 Helps standardize product and process sequence 148
6.7.3.4 Field services 149
6.7.3.4.1 Extensively used in heavy metals & machine manufacturing, oil & gas, and energy & power industries 149
6.7.3.5 Quality control 149
6.7.3.5.1 Wide use of AI-based quality control systems in pharmaceuticals, food & beverages, and semiconductor industries 149
6.7.3.6 Cybersecurity 149
6.7.3.6.1 Growing need for cybersecurity systems due to automation in manufacturing 149
6.7.3.7 Industrial robots 150
6.7.3.7.1 Help increase productivity and efficiency 150
6.7.3.8 Reclamation 150
6.7.3.8.1 AI-based systems used to detect important components in waste or slag 150
6.7.4 ARTIFICIAL INTELLIGENCE IN MANUFACTURING, BY INDUSTRY 150
TABLE 97 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY INDUSTRY,
2017–2020 (USD MILLION) 151
TABLE 98 INDUSTRY 4.0 MARKET FOR AI IN MANUFACTURING, BY INDUSTRY,
2021–2026 (USD MILLION) 151
FIGURE 39 AUTOMOBILE HELD LARGEST SIZE OF AI IN MANUFACTURING MARKET IN 2020 152
6.7.4.1 Automobile 152
6.7.4.1.1 Wide use of machine learning and computer vision in automobile industry 152
6.7.4.1.2 Impact of COVID-19 on AI in manufacturing market for automobile industry 153
6.7.4.2 Energy & power 153
6.7.4.2.1 AI-based solutions enhance production output and reduce downtime 153
6.7.4.2.2 Impact of COVID-19 on AI in manufacturing market for energy & power industry 154
6.7.4.3 Pharmaceuticals 154
6.7.4.3.1 Growing demand for AI solutions from Chinese pharmaceuticals industry 154
6.7.4.3.2 Impact of COVID-19 on AI in manufacturing market for pharmaceuticals industry 154
6.7.4.4 Heavy metals & machine manufacturing 154
6.7.4.4.1 Heavy demand for AI solutions expected from APAC 154
6.7.4.4.2 Impact of COVID-19 on AI in manufacturing market for heavy metals & machine manufacturing industry 155
6.7.4.5 Semiconductors & electronics 155
6.7.4.5.1 AI likely to optimize production cost, technology implementation, and integration of components 155
6.7.4.5.2 Impact of COVID-19 on AI in manufacturing market for semiconductor & electronics industry 155
6.7.4.6 Food & beverages 156
6.7.4.6.1 AI-based solutions enhance quality of food production 156
6.7.4.6.2 Impact of COVID-19 on AI in manufacturing market for food & beverages industry 156
6.7.4.7 Others 156
6.8 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN 157
6.8.1 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY TECHNOLOGY 157
FIGURE 40 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY TECHNOLOGY 157
6.8.1.1 Internet of Things (IOT) 158
6.8.1.2 Blockchain 158
6.8.1.3 Artificial intelligence & machine learning 159
6.8.1.4 Augmented reality, virtual reality & mixed reality 159
6.8.1.5 Big data analytics 159
6.8.1.6 5G 160
6.8.2 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY USAGE TYPE 160
FIGURE 41 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY USAGE TYPE 161
TABLE 99 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY USAGE TYPE,
2017–2020 (USD MILLION) 161
TABLE 100 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY USAGE TYPE,
2021–2026 (USD MILLION) 161
6.8.2.1 Product digital twin 161
6.8.2.1.1 Expected to witness significant growth during forecast period 161
6.8.2.2 Process digital twin 162
6.8.2.2.1 Plays major role in digital twin market 162
6.8.2.3 System digital twin 162
6.8.2.3.1 Expected to dominate market during forecast period 162
6.8.3 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION 163
FIGURE 42 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION 163
FIGURE 43 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION (2021–2026) 163
TABLE 101 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION,
2017–2020 (USD MILLION) 163
TABLE 102 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY APPLICATION,
2021–2026 (USD MILLION) 164
6.8.3.1 Product design & development 164
6.8.3.1.1 Expected to register steady market growth 164
6.8.3.2 Performance monitoring 164
6.8.3.2.1 Likely to see rising demand in future 164
6.8.3.3 Predictive maintenance 165
6.8.3.3.1 Reduces maintenance costs and operational downtime 165
6.8.3.4 Inventory management 165
6.8.3.4.1 High demand in transportation & logistics industry 165
6.8.3.5 Business optimization 165
6.8.3.5.1 Expected to dominate market during forecast period 165
6.8.3.6 Others 165
6.8.4 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY INDUSTRY 166
FIGURE 44 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY INDUSTRY 166
TABLE 103 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY INDUSTRY,
2017–2020 (USD MILLION) 166
TABLE 104 INDUSTRY 4.0 MARKET FOR DIGITAL TWIN, BY INDUSTRY,
2021–2026 (USD MILLION) 167
FIGURE 45 AUTOMOTIVE & TRANSPORTATION TO DOMINATE INDUSTRY 4.0 MARKET FOR DIGITAL TWIN DURING FORECAST PERIOD 168
6.8.4.1 Aerospace & defense 168
6.8.4.1.1 Expected to witness significant market growth 168
6.8.4.2 Automotive 169
6.8.4.2.1 Likely to dominate Industry 4.0 market during forecast period 169
6.8.4.3 Home & commercial 169
6.8.4.3.1 Stable growth expected in post-COVID-19 period 169
6.8.4.4 Healthcare 170
6.8.4.4.1 Least affected segment during COVID-19 crisis 170
6.8.4.5 Energy & utilities 171
6.8.4.5.1 Increasing digitaliz