Global Internet of Things (IoT) in Manufacturing Market to Reach $160.2 Billion by 2030
The global market for Internet of Things (IoT) in Manufacturing estimated at US$76.4 Billion in the year 2023, is expected to reach US$160.2 Billion by 2030, growing at a CAGR of 11.2% over the period 2023-2030. IoT in Manufacturing Solutions, one of the segments analyzed in the report, is expected to record 10.2% CAGR and reach US$93.1 Billion by the end of the analysis period. Growth in the IoT in Manufacturing Services segment is estimated at 12.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $23.1 Billion, While China is Forecast to Grow at 10.6% CAGR
The Internet of Things (IoT) in Manufacturing market in the U.S. is estimated at US$23.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$27.7 Billion by the year 2030 trailing a CAGR of 10.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 9.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR.
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