IoT in Manufacturing Market, By Software (Application Security Software, Data Management and Analytics Software, Monitoring Software, Network Management, and Other Software Types), By Connectivity (Satellite Network, Cellular Network, RFID, NFC, Wi-Fi, and Other Connectivity Types), By Services (Professional Services, Managed Services), By Application (Process Optimization, Predictive Maintenance, Asset Management, Workforce Management, Emergency and Incident Management, Logistics and Supply Chain Management, and Inventory Management), By End User Industry (Automotive Manufacturing, Food and Agriculture Equipment Manufacturing, Industrial Equipment Manufacturing, Electronics and Communication Equipment Manufacturing, Chemicals and Materials Equipment Manufacturing, and Other End-user Industries), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Managing a manufacturing business requires balancing the need to optimize production while keeping costs down. IoT helps manufacturers increase efficiency by making data-driven decisions in real-time to improve product quality and reduce commercial distribution of defective products, resulting in happier customers and increased profitability. The Internet of Things (IoT) is transforming many industries, and manufacturers are no exception. IoT in manufacturing is changing the way that businesses operate, reducing operating expenses and increasing production quality. IoT technologies can automate workflows, track inventory, and monitor machine health to improve productivity and reduce costs. This can increase the number of goods a manufacturer can produce and decrease the amount of wasted resources.
Market Dynamics:
Sustained economic expansion, rising young workforce and the growing adoption of smartphones and tablets for business purposes is expected to augment growth of the global IoT in manufacturing market over the forecast period. Moreover, the increasing infusion of automation in industries and government initiatives to promote technology uptake are fueling market growth.
However, the lack of a skilled workforce has been hindering the implementation and advancement of industrialization in emerging economies. This is expected to hamper growth of the global IoT in manufacturing market over the forecast period.
Key features of the study:
This report provides in-depth analysis of the global IoT in manufacturing market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global IoT in manufacturing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Cisco Systems Inc., SAP SE, General Electric, Microsoft Corporation, Intel Corporation, Siemens AG, IBM Corporation, Qualcomm, Verizon Communication Inc., and AT&T Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global IoT in manufacturing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global IoT in manufacturing market
Detailed Segmentation:
Global IoT in Manufacturing Market, By Software
Application Security Software
Data Management and Analytics Software
Monitoring Software
Network Management
Other Software Types
Global IoT in Manufacturing Market, By Connectivity
Satellite Network
Cellular Network
RFID
NFC
Wi-Fi
Other Connectivity Types
Global IoT in Manufacturing Market, By Services
Professional Services
Managed Services
Global IoT in Manufacturing Market, By Application
Process Optimization
Predictive Maintenance
Asset Management
Workforce Management
Emergency and Incident Management
Logistics and Supply Chain Management
Inventory Management
Global IoT in Manufacturing Market, By End-User Industry
Automotive Manufacturing
Food and Agriculture Equipment Manufacturing
Industrial Equipment Manufacturing
Electronics and Communication Equipment Manufacturing
Chemicals and Materials Equipment Manufacturing
Other End-user Industries
Global IoT in Manufacturing Market, By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
Company Profiles:
Cisco Systems Inc.
General Electric
Intel Corporation
IBM Corporation
Verizon Communication Inc.
AT&T Inc.
Qualcomm
Siemens AG
Microsoft Corporation
SAP SE