A Transformational Leap in Cyber-physical Convergence – Industry 4.0 State of the Market Report 2021
State of the Market Report

10 May 2021
by Akshat Vaid, Mayank Maria, Shivank Narula, Swarnim Banerjee

Industry 4.0 is the latest phase in industrial revolution and represents a technology-intensive transformation and convergence of cyber and physical systems. This transformation is characterized by the modern themes of interconnectivity, digitalization, and automation and is made possible through technological developments in fields including Internet of Things (IoT), additive manufacturing, cloud computing, edge computing, analytics, robotics, cybersecurity, Artificial Intelligence (AI), and Machine Learning (ML).

Enterprise adoption of Industry 4.0 is experiencing significant traction globally due to the multiple benefits it offers enterprises, including increased flexibility, visibility, quality, efficiency, and control. COVID-19 has further amplified the need for adoption as Industry 4.0 helps enhance the resilience of industrial setups. Engineering service providers are playing a crucial role in accelerating enterprise adoption of Industry 4.0 by offering a wide range of services in this domain.

This report examines the dynamics of global Industry 4.0 service trends prevalent among leading Industry 4.0 service providers.


All industries and geographies


In this report, we explore the trends governing the Industry 4.0 services market and examine the current market landscape, typical spend areas, engagement constructs, and the role of engineering service providers in enterprise adoption of digital technologies.

The study is divided into the following three sections:

  • Market overview: examines market size across key service areas and adoption levels across industry verticals
  • Emerging trends: studies some of the overarching industry themes
  • Outsourcing landscape: includes spend analysis, engagement models, and competitive investments from service providers


Engineering Services

Sourcing and Vendor Management


Page Count: 45