The Global IoT in Manufacturing Market is projected to reach a value of over USD 181.3 billion by 2027 at a CAGR of around 26.9%.
Stronger demand for customization, increasing customer expectations, the complexity of the global supply chain. Industrial Internet of Things (IIoT) is a way to digital transformation in manufacturing. Industrial IoT employs a network of sensors to collect critical production data and uses cloud software to turn this data into valuable insights about the efficiency of the manufacturing operations. In current scenario, IoT adopted heavily in manufacturing for cost reduction, shorter time-to-market, mass customization, and improvisation in safety. Key players in the IoT in manufacturing are Honeywell International Inc., IBM Corporation, Microsoft, General Electric Company, Siemens, and Johnson Controls among others.
Market Driver:
Improving manufacturing industry in Asia-Pacific will drive the market during forecast period. Rising automotive, consumer goods, consumer electronics, industries will add more value in the growth of the market. China, India, Japan, and South Korea will drive the IoT in manufacturing market during forecast period. Increasing demand for robotic, connected devices, smart warehousing, and need for latest technological machinery will increases the IoT manufacturing market in APAC.
Market Opportunity:
Connected logistics offers a supply chain data exchange platform based on the Internet of things in logistics concept. Connected logistics develops end to end visibility of customer supply chain, in which customer can see shipments based on the information that is linked by the other supply chain stakeholders. Ericsson provide Connected Logistics Chain (CLC) offers a supply chain data exchange platform based on the Internet of Logistics. This platform offers software as a service, access to APIs, access to default GUI, and sandbox available to test among others. Hence for tracking and shipment assets IoT is used in connected logistics which will create more opportunities in in manufacturing industry.
The report on the IoT in manufacturing market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Valve Type, Material, Aircraft Type, End Use Industry, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
IoT in Manufacturing Market, by Component
IoT in Manufacturing Market, by Application
IoT in Manufacturing Market, by End Use Industry
IoT in Manufacturing Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE IOT IN MANUFACTURING MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY