IoT in Manufacturing Market to Undergo High CAGR Growth of 30.57% By 2026

Global IoT in manufacturing market is set to witness a healthy CAGR of 30.57% in the forecast period of 2020 to 2026. IoT refers to the expansion of internet connectivity to other physical devices and daily use objects which can be remotely monitored and controlled. It has the ability to transfer data over a network without any intervention or need of human. IoT in manufacturing can help business to create a new business opportunity for manufacturing. It helps in management of asset, workforce and inventory in an organization.

Major Market Competitors/Players

Few of the major competitors currently working in the global IoT in manufacturing market are CISCO SYSTEMS, INC, ABB, Huawei Technologies Co., Ltd., IBM Corporation, GENERAL ELECTRIC, PTC, Microsoft, Rockwell Automation Inc., SAP SE, Zebra Technologies Corp., Siemens, Verizon Wireless, Hitachi Vantara Corporation, Qualcomm Technologies, Inc., FUJITSU, Tech Mahindra Limited, Mooana, Schneider Electric, ClearBlade, Inc., Robert Bosch GmbH, Uptake Technologies Inc., Litmus Automation, Inc among others.

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Segmentation: Global IoT in Manufacturing Market

·         By Software (Application Security, Device Management, Data Management & Analytics, Monitoring, Network, Smart Surveillance, Others)

·         By Connectivity (Satellite Network, Cellular Network, RFID, NFC, Wi-Fi)

·         By Services (Managed Services, Professional Services)

·         By Application (Business Process Optimization, Predictive Maintenance, Asset management, Workforce Management, Emergency & Incident Management, Logistics & Supply Chain Management, Inventory Management, Automation Control & Management, Business Communication)

·         By End User (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defense, Chemicals & Materials, Hi-tech Products, Healthcare, Others)

·         By Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)

Competitive Analysis: Global IoT in Manufacturing Market

Global IoT in manufacturing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of IoT in manufacturing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers:

·         Introduction of latest communication technology, is driving the growth of the market

·         Surge in the need of centralized monitoring system and predictive maintenance of the manufacturing infrastructure, drives the market growth

·         Rise in the adoption of the cloud environment, is driving the market growth

·         Introduction of data analytics and data processing, is driving the growth of the market

·         Demand driven supply chain and connected logistics, is fueling the growth of the market

Market Restraints:

·         Lack of standards for interconnectivity and interoperability, is hampering the growth of the market

·         Data Security and privacy concerns, is hindering the market growth

·         Risk of shadow IT, is restraining the market growth

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Key Insights in the report:

·         Complete and distinct analysis of the market drivers and restraints

·         Key Market players involved in this industry

·         Detailed analysis of the Market Segmentation

·         Competitive analysis of the key players involved

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