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Market Snapshot

CAGR:6.28

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.28

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Report Overview

Internet of Things (IoT) in Manufacturing Market Analysis Report 2023-2032

The Internet of Things (IoT) in Manufacturing Market is poised for remarkable growth, with an anticipated Compound Annual Growth Rate (CAGR) of 10.37% from 2022 to 2032. This growth is projected to lead to an expansion of the market size by USD 53.75 billion. The IoT in Manufacturing market's growth is driven by factors such as Industry 4.0 initiatives, automation, and the need for data-driven decision-making in manufacturing processes.

IoT in Manufacturing Market Overview

Drivers

The growth of the IoT in Manufacturing market is fueled by the Industry 4.0 revolution, where smart manufacturing processes integrate physical and digital technologies to enhance efficiency and productivity. IoT sensors and devices enable real-time data collection, analysis, and communication, leading to predictive maintenance and optimized production.

Furthermore, the need for cost reduction, improved product quality, and streamlined supply chain management drives manufacturers to adopt IoT solutions for automation and process optimization.

Trends

Edge computing and predictive maintenance are key trends in the IoT in Manufacturing market. Edge computing involves processing data closer to the data source, reducing latency and enabling real-time decision-making. This is crucial for manufacturing environments where milliseconds matter.

Moreover, predictive maintenance utilizes IoT data and analytics to predict when equipment will fail, enabling maintenance teams to perform timely repairs and prevent costly downtime.

Restraints

Data security concerns, interoperability challenges, and high implementation costs pose obstacles in the IoT in Manufacturing market. Connected devices and sensors in manufacturing environments are vulnerable to cyber threats, requiring robust security measures to protect sensitive data and intellectual property.

Additionally, integrating IoT devices from different manufacturers and ensuring compatibility with existing systems can be complex. Overcoming interoperability challenges is essential to create a seamless and integrated IoT ecosystem.

IoT in Manufacturing Market Segmentation By Component

Among the IoT in Manufacturing components, the Hardware segment is anticipated to experience significant growth during the forecast period. This segment includes sensors, actuators, gateways, and other physical devices that collect and transmit data.

Moreover, the Software segment is also relevant. IoT software platforms enable data management, analytics, and visualization, providing manufacturers with insights to optimize processes.

IoT in Manufacturing Market Segmentation By Application

Within the IoT in Manufacturing application segment, the Predictive Maintenance segment is expected to play a substantial role in market growth. Predictive maintenance solutions utilize IoT data to predict equipment failures, allowing manufacturers to schedule maintenance and reduce unplanned downtime.

Additionally, the Inventory Management segment remains relevant. IoT sensors and RFID technology enable real-time inventory tracking, ensuring accurate stock levels and reducing inventory carrying costs.

Regional Overview:

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North America is projected to be a significant contributor to the global IoT in Manufacturing market growth, accounting for approximately 35% of the market share during the forecast period. The region's leadership is attributed to its advanced manufacturing sector, early adoption of IoT technologies, and focus on digital transformation.

The Asia-Pacific region is also witnessing substantial growth, driven by the presence of manufacturing powerhouses such as China and Japan, along with increasing investments in smart manufacturing initiatives.

The IoT in Manufacturing market transforms traditional manufacturing processes, enabling data-driven decision-making and optimizing production efficiency.

IoT in Manufacturing Market Customer Landscape

The IoT in Manufacturing market report encompasses an analysis of the customer landscape, from large manufacturing enterprises and industrial automation companies to small and medium-sized manufacturers. It delves into adoption rates across industries and user preferences, providing insights into customer behaviors and trends. Additionally, the report identifies key factors influencing IoT in Manufacturing adoption, aiding businesses in devising effective growth strategies.

Major IoT in Manufacturing Market Companies

Companies in the IoT in Manufacturing market are implementing various strategies to enhance their market presence, including partnerships with industrial automation providers, development of industry-specific IoT solutions, and innovation in edge computing technology.

Siemens AG: Siemens offers IoT solutions for industrial automation and digitalization. The company focuses on integrating IoT devices, data analytics, and automation to enable smart manufacturing processes and enhance production efficiency.
Cisco Systems, Inc.: Cisco provides IoT networking solutions for industrial environments. The company's Industrial IoT (IIoT) portfolio includes ruggedized networking hardware, edge computing capabilities, and security features tailored for manufacturing applications.
Rockwell Automation, Inc.: Rockwell Automation specializes in industrial automation and IoT solutions. The company offers a range of IoT-enabled products and services that enhance manufacturing efficiency, connectivity, and data analytics.

The competitive landscape analysis in the report offers comprehensive insights into market players, assessing their strengths, weaknesses, and positioning. The qualitative and quantitative data aids in categorizing companies based on their focus and dominance in the market.

Segment Overview

The IoT in Manufacturing market report forecasts revenue growth at global, regional, and country levels and provides a comprehensive analysis of trends and growth opportunities from 2019 to 2032.

Component Outlook (USD Billion, 2019 - 2032)

Hardware
Software
Services

Application Outlook (USD Billion, 2019 - 2032)

Predictive Maintenance
Inventory Management
Asset Tracking
Quality Control
Others

Geography Outlook (USD Billion, 2019 - 2032)

North America

United States
Canada

Asia-Pacific

China
Japan
South Korea
Rest of Asia-Pacific

TABLE OF CONTENTS: GLOBAL Internet of Things (IoT) Market In Manufacturing MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition `

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Internet of Things (IoT) Market In Manufacturing MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Internet of Things (IoT) Market In Manufacturing Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Internet of Things (IoT) Market In Manufacturing MARKET BY type landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Software

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Connectivity

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Services

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Internet of Things (IoT) Market In Manufacturing MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Process Optimization

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Predictive Maintenance

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 Asset Management

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Internet of Things (IoT) Market In Manufacturing MARKET REGIONAL OUTLOOK

7.1. Internet of Things (IoT) Market In Manufacturing Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Internet of Things (IoT) Market In Manufacturing Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Cisco Systems

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 General Electric

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Intel Corporation

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 IBM Corporation

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Siemens AG

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Internet Of Things Iot In Manufacturing Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032