Canada Industry 4.0 Market Size & Outlook, 2023-2030
- Enterprise Technology & Automation
- AI, Data & Analytics
- Industry 4.0 Market Outlook
- AI, Data & Analytics
Canada market 4.0 Market, 2018-2030 (US$M)
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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 2023 | USD 4,373.3 million |
| Market revenue in 2030 | USD 14,918.0 million |
| Growth rate | 19.2% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | ABB 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.
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.
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Industry 4.0 Market Scope
Industry 4.0 Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Schneider Electric SE | View profile | 162,339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | www.se.com |
| Intel Corp | View profile | 124,800 | 2200 Mission College Boulevard, Santa Clara, CA, United States, 95054-1549 | www.intel.com |
| ABB Ltd | View profile | 108,700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | www.abb.com |
| Siemens AG | View profile | 321,000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | www.siemens.com |
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Rockwell Automation Inc | View profile | 29,000 | 1201 South Second Street, Milwaukee, WI, United States, 53204 | www.rockwellautomation.com |
| Honeywell International Inc | View profile | 95,000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | www.honeywell.com |
| Emerson Electric Co | View profile | 67,000 | 8000 West Florissant Avenue, P.O. Box 4100, St. Louis, MO, United States, 63136 | www.emerson.com |
| Fanuc Corp | View profile | 11,532 | 3580, Shibokusa, Oshino-mura, Minamitsuru-gun, Yamanashi, Japan, 401-0597 | www.fanuc.co.jp |
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 Outlook 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.
- Canada Industry 4.0 Market Component Outlook (Revenue, USD Million , 2018-2030)
- Hardware
- Software
- Services
- Canada Industry 4.0 Market Technology Outlook (Revenue, USD Million , 2018-2030)
- 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
- Canada Industry 4.0 Market Industry Vertical Outlook (Revenue, USD Million , 2018-2030)
- Manufacturing
- Petrochemicals
- Automotive
- Energy and Utilities
- Oil and Gas
- Food and Beverages
- Aerospace and Defense
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada Industry 4.0 Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Industry 4.0 Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada market 4.0 Market, 2018-2030 (US$M)
Canada industry 4.0 market statistics, by component, 2018-2030 (US$M)
