IoT in Manufacturing Market by Component (Software and Services) and Application (Predictive Maintenance, Asset Performance Management, Quality Management, Cognitive Process & Operations Management, Supply Chain Management, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Internet of Things (IoT) is a network of interconnected devices, which communicates and transfers data with the help of embedded sensors. IoT in manufacturing provides various applications such as predictive maintenance, asset performance management, supply chain management, quality management, and cognitive process & operations management. IBM Corporation, PTC Inc., and Zebra Technologies are some of the key players operating in the IoT in manufacturing market.
Advancements in technologies such as smart sensors and virtual & augmented reality as well as low operational cost boost the growth of the global IoT in manufacturing market. In addition, rise in demand for real-time asset monitoring positively impacts the growth of the market. However, inadequate IT infrastructure is hampering the market growth. On the contrary, introduction to connected operational intelligence and surge in adoption of cloud-based deployment model are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The global IoT in manufacturing market is segmented into component, application, and region. On the basis of component, the market is divided into software and services. Depending on application, it is classified into predictive maintenance, asset performance management, quality management, cognitive process & operations management, supply chain management, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT in manufacturing market is dominated by key players such as Cisco Systems Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Software AG, Texas Instruments, and Zebra Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global IoT in manufacturing market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global IoT in manufacturing market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Component
Software
Services
By Application
Predictive Maintenance
Asset Performance Management
Quality Management
Cognitive Process & Operations Management
Supply Chain Management
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS
Cisco Systems Inc.
Hitachi Ltd.
IBM Corporation
Microsoft Corporation
PTC Inc.
Robert Bosch GmbH
SAP SE
Software AG
Texas Instruments
Zebra Technologies
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