Canada Industry 4.0 Market Size & Outlook, 2023-2030

The industry 4.0 market in Canada is expected to reach a projected revenue of US$ 14,918.0 million by 2030. A compound annual growth rate of 19.2% is expected of Canada industry 4.0 market from 2024 to 2030.
Revenue, 2023 (US$M)
$4,373.3
Forecast, 2030 (US$M)
$14,918.0
CAGR, 2024 - 2030
19.2%
Report Coverage
Canada

Canada industry 4.0 market highlights

  • The Canada industry 4.0 market generated a revenue of USD 4,373.3 million in 2023 and is expected to reach USD 14,918.0 million by 2030.
  • The Canada market is expected to grow at a CAGR of 19.2% from 2024 to 2030.
  • In terms of segment, hardware was the largest revenue generating component in 2023.
  • Software is the most lucrative component segment registering the fastest growth during the forecast period.


Industry 4.0 market data book summary

Market revenue in 2023USD 4,373.3 million
Market revenue in 2030USD 14,918.0 million
Growth rate19.2% (CAGR from 2023 to 2030)
Largest segmentHardware
Fastest growing segmentSoftware
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationHardware, Software, Services
Key market players worldwideABB Ltd, Cisco Systems Inc, Cognex Corp, Denso Corp, Emerson Electric Co, Fanuc Corp, GE Aerospace, Honeywell International Inc, Intel Corp, Johnson Controls International PLC, Robert Bosch Engineering & Business Solutions, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, Kuka Group


Other key industry trends

  • In terms of revenue, Canada accounted for 2.5% of the global industry 4.0 market in 2023.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In North America, U.S. industry 4.0 market is projected to lead the regional market in terms of revenue in 2030.
  • Canada is the fastest growing regional market in North America and is projected to reach USD 14,918.0 million by 2030.

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Industry 4.0 Market Scope

Industry 4.0 market segmentation & scope
Hardware
Software
Services
Industrial Internet of Things (IIoT)
Robotics & Automation
Artificial Intelligence (AI) & Machine Learning (ML)
Big Data & Advanced Analytics
Additive Manufacturing (3D Printing)
Augmented Reality (AR) & Virtual Reality (VR)
Digital Twin & Simulation
Blockchain and Secure Data Exchange
Others
Manufacturing
Petrochemicals
Automotive
Energy and Utilities
Oil and Gas
Food and Beverages
Aerospace and Defense
Others

Industry 4.0 Market Companies

Name Profile # Employees HQ Website

Canada industry 4.0 market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industry 4.0 market will help companies and investors design strategic landscapes.


Hardware was the largest segment with a revenue share of 50.77% in 2023. Horizon Databook has segmented the Canada industry 4.0 market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.


The Canadian government has recognized the importance of Industry 4.0 and has taken steps to promote its growth. Initiatives such as the “Innovation Superclusters Initiative” and the “Digital Technology Supercluster” have been launched to foster collaboration between industry, academia, and government, driving innovation and technology adoption.

Additionally, Canada’s “Innovation and Skills Plan” emphasizes the importance of digital literacy and skills development to ensure a workforce that is equipped to thrive in the digital era. The manufacturing sector has embraced the principles to enhance productivity and competitiveness.

Smart factors equipped with IoT devices, sensors and connected systems enable real-time monitoring of production processes, predictive maintenance and optimization of resources utilization. This transformation has not only improved efficiency but also led to the creation of new business models and revenue streams.

Reasons to subscribe to Canada industry 4.0 market databook:

  • Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
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  • Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.

Target buyers of Canada industry 4.0 market databook

  • Our clientele includes a mix of industry 4.0 market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.

Horizon Databook provides a detailed overview of country-level data and insights on the Canada industry 4.0 market , including forecasts for subscribers. This country databook contains high-level insights into Canada industry 4.0 market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Canada industry 4.0 market size, by component, 2018-2030 (US$M)

Canada Industry 4.0 Market Outlook Share, 2023 & 2030 (US$M)

Canada industry 4.0 market size, by component, 2018-2030 (US$M)

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