Drivers, evolutions and spending in the Industry 4.0 market until 2022

The Industry 4.0 market is poised to grow significantly. The increasing adoption of IoT in the digital transformation of manufacturing and related industries, the rise of industrial robotics and the proportionally higher spend in the Industrial Internet of Things are just some contributing factors. While we are still in the early days of Industry 4.0 and challenges remain on many fronts such as the integration of IT and OT, data capabilities, implementation challenges, guidelines and strategic capacities, skills, culture, standards and the maturity/readiness levels on the path from sheer optimization/automation to real transformation, Industry 4.0 is also driven by myriad challenges in the supply chain and customer expectations. The Industry 4.0 technology market is forecasted to reach $152.31 In an ongoing quest to deliver the value of Industry 4.0, it is certainly also boosted by national and supra-national pushes in a changing geopolitical industrial ecosystem, further driven by some of the larger players and alliances in the industry.