North America Industry 4.0 Market Size & Outlook, 2023-2030
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North America market 4.0 Market, 2018-2030 (US$M)
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North America industry 4.0 market highlights
- The North America industry 4.0 market generated a revenue of USD 53,751.8 million in 2023.
- The market is expected to grow at a CAGR of 18.2% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 53,751.8 million |
| Market revenue in 2030 | USD 173,465.0 million |
| Growth rate | 18.2% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 30.6% of the global industry 4.0 market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 251,662.2 million by 2030.
Automation and robotics were integrated into manufacturing processes to perform repetitive tasks, reducing the reliance on manual labor. This shift not only improved efficiency but also enhanced workplace safety.
With improved cost-effectiveness, regional manufacturers were better positioned to compete globally. IoT played a pivotal role by connecting devices and machinery to the internet, enabling real-time data collection and analysis.
This data-driven approach allowed companies to monitor equipment performance, predict maintenance needs, and optimize production processes. The insights from IoT powered analytics enhanced decision-making, reduced downtime, and minimized resource wastage.
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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 |
North America 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 49.03% in 2023.
Horizon Databook has segmented the North America industry 4.0 market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
Automation and robotics were integrated into manufacturing processes to perform repetitive tasks, reducing the reliance on manual labor. This shift not only improved efficiency but also enhanced workplace safety.
With improved cost-effectiveness, regional manufacturers were better positioned to compete globally. IoT played a pivotal role by connecting devices and machinery to the internet, enabling real-time data collection and analysis.
This data-driven approach allowed companies to monitor equipment performance, predict maintenance needs, and optimize production processes. The insights from IoT powered analytics enhanced decision-making, reduced downtime, and minimized resource wastage.
- North America Industry 4.0 Market Component Outlook (Revenue, USD Million , 2018-2030)
- Hardware
- Software
- Services
- North America 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
- North America 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 continent-level data and insights on the North America Industry 4.0 Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into North America Industry 4.0 Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
North America market 4.0 Market, 2018-2030 (US$M)
North America industry 4.0 market statistics, by component, 2018-2030 (US$M)
