Industry 4.0 market size in Italy 2017-2024

With the launch of the National Industry 4.0 Plan in 2017, the fourth industrial revolution was sweeping across Italy. Manufacturers were investing both in hardware and software to bring about smart factories. These investments focused on predictive maintenance as well as asset and energy management. Investments in Industry 4.0 technologies were expected to increase in the years following the launch of the plan, as the Italian government promoted the digital transformation of the manufacturing sector with various fiscal advantages. In 2021, the Industry 4.0 market was expected to reach 3.1 billion euros.

Internet of Things

Internet of Things (IoT) played the most important role in industry transformation: by adopting IoT technologies, such as radio frequency identification, companies aimed at increasing operational efficiency and obtaining more data to provide new services. However, IoT technologies found applications in households as well. The smart metering was the biggest sector between 2016 and 2018.

Bridging the skills gap

Another relevant investment area promoted by the National Industry 4.0 Plan was training and skills development. In fact, in the context of this industrial plan, Robotic & automation managers and IoT engineers were the most in-demand professions, while artificial intelligence experts were slightly less in demand. The Italian AI market, in fact, was still relatively small.