IoT In Manufacturing Market: Summary
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.
IoT In Manufacturing Market: Drivers & Opportunity
- Improving Manufacturing Sector in Asia-Pacific
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.
- Increasing Demand for Connected Logistics
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.
IoT In Manufacturing Market: Key Segments
- Segmentation based on component: Software Platforms, Services, and Solutions
- Segmentation based on application: Asset Performance Management, Quality Management, Predictive Maintainance, Supply Chain Management, Operations & Cognitive Process Management, and Others
- Segmentation based on end use industry: Automotive, Aerospace & Defense, Food & Beverages, Healthcare, Consumer Electronics, and Others
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
IoT In Manufacturing Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Valve Type, Material, Aircraft Type, End Use Industry, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
Key Companies Covered
- IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- General Electric Company
- Honeywell International Inc.
- Siemens Industry Software Inc.
- Schneider Electric
- Johnson Controls
- Bosch.IO GmbH
- Huawei Technologies Co., Ltd.
- Augury Inc.
- KMC Controls
- Other Key Companies
IoT In Manufacturing Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
IoT in Manufacturing Market, by Component
- Software Platforms
- Network Management
- Device Management
- Application Management
IoT in Manufacturing Market, by Application
- Asset Performance Management
- Quality Management
- Supply Chain Management
- Predictive Maintainance
- Operations & Cognitive Process Management
IoT in Manufacturing Market, by End Use Industry
- Aerospace & Defense
- Food & Beverages
- Consumer Electronics
IoT in Manufacturing Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- IoT in Manufacturing Market Providers
- IoT in Manufacturing Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of IoT in Manufacturing Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE IOT IN MANUFACTURING MARKET STUDY