IoT in Manufacturing Market – Snapshot
The emergence of advanced data analytics and data processing is anticipated to aid the growth of the global IoT in manufacturing market. Applications of IoT in manufacturing help gain insight into the performance and lifetime asset value of machines, enable greater control over the complex aspects of manufacturing operations, improve quality management and enterprise compliance, improve production yield rates, reduce carrying costs and out-of-stock inventory, accelerate inventory turns, enable predictive maintenance, collect and track throughout production, and provide real-time insights into manufacturing operations.
Growing adoption of innovative technologies and the increasing focus of key players on research and development activities are expected to fuel the growth of the market for IoT in the manufacturing sector. Furthermore, exposure of intelligent machine applications and the increasing need for agile production and operational efficiency are anticipated to assist the growth of the market. In addition, rise in regulatory compliances around the world is likely to help the IoT market in the manufacturing sector.
The presence of a large number of manufacturing units and the rapid growth of the economy are expected to help the market grow with a significant rate in North America for the next few years. The key players are continuously developing IoT solutions to enable more effective and efficient procedures of manufacturing. Companies such as Microsoft Corporation, Rockwell Automation, Siemens AG, IBM Corporation, SAP SE, Zebra Technologies, Cisco Systems, Inc., Huawei, General Electric, PTC Incorporation, and Bosch Software Innovations GmbH are creating IoT solutions which can be applicable for a wide range of manufacturing procedures, further helping the global IoT in manufacturing market grow.
Global IoT in Manufacturing Market: Overview
The global market for IoT in manufacturing is projected to witness healthy growth in the next few years, thanks to the emergence of advanced data processing and data analytics. Additionally, a significant rise in the regulatory compliances is likely to supplement the growth of the overall market in the near future. According to the research study, this market is likely to register an impressive growth rate across the forecast period.
Furthermore, the key factors that are responsible for accelerating the growth of the global IoT in manufacturing market have been highlighted in the scope of the research report. Moreover, the product segmentation, applications, technological developments, and the competitive scenario of the market have been included to offer a clear understanding of the overall market.
Global IoT in Manufacturing Market: Drivers and Restraints
The increasing demand for predictive maintenance and centralized monitoring of manufacturing infrastructure is one of the important factors predicted to augment the growth of the global IoT in manufacturing market in the near future. In addition, the rising need for operational efficiency and agile production and the emergence of intelligent machine applications are predicted to the accelerate the growth of the market in the coming years.
On the contrary, several concerns related to data privacy and security and the lack of specific standards for interoperability and interconnectivity are projected to restrict the growth of the global IoT in manufacturing market in the forecast period. The inconsistency in business semantics and the rising conflicts concerning ownership of data are likely to hamper the growth of the market in the near future. Nonetheless, the increasing popularity of shared security and content maturity market are expected to offer promising growth opportunities for the market players.
Global IoT in Manufacturing Market: Region-wise Outlook
Among the key regional segments, North America is anticipated to witness a strong growth in the global IoT in manufacturing market. This region is expected to remain in the leading position throughout the forecast period and register a healthy growth rate. The rapid growth of the economy and the presence of a large number of manufacturing units in this region is expected to encourage the growth of the IoT in manufacturing market across North America in the near future.
Furthermore, the increasing focus of key players on research and development activities and the emergence of innovative technologies is expected to fuel the growth of the market in the next few years. Moreover, the introduction of start-up culture and the advent of small and medium enterprises are some of the other factors estimated to accelerate the growth of the North America market in the next few years.
Key Players Mentioned in the Research Report are:
The global market for IoT in manufacturing is expected to grow at a progressive rate in the forecast period with a high level of competition. The rising number of players interested in participating in the global market is one of the major reasons encouraging stiff competition in the forecast period. With the rising focus on technological advancements and new product development, the leading players are anticipated to expand their product horizon and attain a leading position in the overall market.
Furthermore, the research study has provided a detailed overview of the competitive landscape of the global IoT in manufacturing market. Some of the key players operating in the market are Bosch Software Innovations GmbH, PTC Incorporation, General Electric, Huawei, Cisco Systems, Inc., Zebra Technologies, SAP SE, IBM Corporation, Siemens AG, Rockwell Automation, and Microsoft Corporation. Detailed profiles of these players have been included in the scope of the research report in order to guide the new as well as existing players to make effective and appropriate business decisions in the next few years.
Key Segments of the Global IoT in Manufacturing Market
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
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- Competitive landscape
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- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
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