IoT in Manufacturing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
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.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report