IoT in Manufacturing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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IoT in Manufacturing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : March, 2020 | Technology & Media | PPT format

Report Digest


Global IoT in Manufacturing Market: Snapshot

The global IoT in manufacturing market is driven by an increasing need for centralized monitoring and predictive maintenance of manufacturing infrastructure. The growing demand for operational efficiency, agile production, operational control, and connected logistics will also support the growth of the IoT in manufacturing market. The global IoT in manufacturing market is highly fragmented with the presence of both large and small companies in high numbers. The players which are well established, those that provide internet services and network services, as well as core M2M vendors are increasingly participating in mergers and acquisitions so as to extend their presence. Several new players are also expected to enter in the global IoT in manufacturing industry. This in turn shall intensify the competition level of the market 

The automated management of inventory, predictive maintenance, and self optimized production are key reasons that will boost the demand of IoT in manufacturing industries. Manufacturing companies are increasingly interested in finding out how IoT can help them to increase the satisfaction of customers, reduce cost, improve quality, and support new business models. The growing use of location-based sensors in the manufacturing sector for tracking and managing inventories will bolster the growth prospects of the IoT market for manufacturing in the period from 2017 to 2025.

Global IoT in Manufacturing Market: Overview

The Internet of Things (IoT) is revolutionizing several sectors, such as healthcare, automotive, or food and beverage. In manufacturing, IoT is changing business models and automating several processes, which are leading to increasing output. Manufacturers across all areas, such as pharmaceutical, chemical, durable goods, and electronics are currently investing actively for the IoT integrate processes and consequently, the global IoT in manufacturing market is projected for a robust CAGR during the forecast period of 2017 to 2025. 

This report on global market for IoT in manufacturing is an exhaustive overview of the current scenario and based on an analysis of all the factors that are expected to influence the demand over the course of next few years, it estimates the future state of the market. The report also highlights a few trends that must be utilized by the existing and new players of the market to gain advantage over their competitors. One of the key features of the report is the section on company profiles wherein a number of prominent players have been analyzed for their market share, technological strength, product portfolio, geographical presence, and recent strategic developments. 

The global IoT in manufacturing market can be segmented on the basis of software, platform, service, application, vertical markets, and geography. By software, the market can be divided into network and application security, network and bandwidth security, remote monitoring system, data management, and smart surveillance. On the basis of platform, it can be categorized into device management, application management, and connectivity management. Management services and professional services can be the segments in terms of service, while on the basis of application, it can be classified into predictive maintenance, business process optimization, asset tracking and management, logistics and supply chain management, real-time workforce tracking and management, automation control and management, and emergency and incident management and business communication. Automotive, industrial equipment, electronics and communication equipment, chemicals and materials equipment, and food and agriculture equipment are the industries using IoT in manufacturing. Geographically, the report studies the opportunities available in the regions of North America, Europe, Asia Pacific, and Rest of the World. 

Global IoT in Manufacturing Market: Trends and Opportunities

The demand for agile production in order to improve efficiency is the primary driver of this market. With IoT in manufacturing, centralized monitoring along with predictive maintenance within the manufacturing base is possible. IoT not only helps the manufacturers to improve production and analyze the areas that have a scope of improvement, it also assists in detecting faults in vast infrastructures, consolidate their control rooms, and increase analytical functionalities. IoT in manufacturing also helps in bringing transparency to the supply chain and other connected logistics. Moreover, increased investment in the field of IoT by manufacturers is expected to escalate continuously, which will further boost the demand during the forecast period. However, some of the barriers for this market from attaining its full potential are: increasing threat of a cyber attack, cost of integrating IoT into a factory, and difficulty in determining return of investment (ROI). 

Global IoT in Manufacturing Market: Regional Outlook

Currently, the region of North America serves the maximum demand, with the U.S. and Canada dominating as country-wide markets. These well-established economies gain consistent incentives from the government too for the adoption of new technology. The advent of small and medium enterprises is another factor favoring the the growth of the North American market. 

Companies mentioned in the research report

IBM Corporation, Microsoft, TATA Consultancy Services, Fanuc, Zebra Technologies, PWC, Stanley Black and Decker, Lockheed Martin, Epson, KUKA Systems Group, Intel, Gartner, Cisco Systems, Inc., PTC, Inc., General Electric, and Rockwell Automation are some of the key companies currently active in global IoT in Manufacturing market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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