Global IoT in Manufacturing Market: Key Highlights
Global IoT in Manufacturing Market: Key Market Dynamics
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Global IoT in Manufacturing Market: Regional Overview
Asia-Pacific are expected to grow at faster rate during forecast period. The developing countries in Asia-Pacific such as China, India, Taiwan, and Japan are investing large amount of revenue in the R&D of industrial IoT. India’s automotive industry is going through a period of both rapid growth and increasing competition. To outperform its rivals, Mahindra & Mahindra’s automotive division partnered with IBM Corporation for working on IoT platforms to optimize performance, fuel economy, safety, comfort and better connectivity.
North America is expected to dominate the market during projected years. Early adoption of IoT infrastructure, rapid developments in wireless and communication technology, and major investment in industrial IoT by key players will fueling the growth of the market during projected years. Moreover, presence of global players such as Microsoft, IBM Corporation, General Electric Company, and Cisco are investing in R&D of IoT technology for providing various solutions for manufacturing industry.
Global IoT in Manufacturing Market: Key Players Overview
Honeywell International Inc. is a US-based company engaged in the invention and commercialization of technologies for overcoming the challenges across energy, safety, security, productivity, and global urbanization. The company operates in aerospace, building technologies, performance materials &technologies, and safety & productivity solutions. The company launched Industrial IoT business unit to help industrial clients more rapidly deploy technologies to better manage and analyze data.
Eaton is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and eMobility. The company has a global reach with its services in around 175 countries. The company provide Intelligent Power which consists of assets & sensors, data science, and connectivity. In May 2019, Eaton collaborated with Microsoft Azure to establishing connectivity for IoT solutions. The company use Microsoft Azure as cloud computing platform for developing our enterprise-wide intelligent power solutions.
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