The global IoT in manufacturing market is anticipated to grow at a considerable CAGR of 11.6% during the forecast period (2022-2028). The IoT market is expected to grow due to factors such as the development of wireless networking, digital storage and processing, and the efficiency of computing structures. In addition, IoT applications are driven by the growth of innovative software applications and analysis, such as recent advances in machine-learning techniques for big data analytics. Additionally, the global IoT market is expected to grow owing to the high market competition and end-user demand, manufacturers are more concerned with producing high volume and quality products. This, in turn, has led them to pay attention to core areas, including production process, asset monitoring, and maintenance and support of assets, in the factory.
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Furthermore, the market players are considerably contributing to the market growth by the adoption of various strategies such as mergers & acquisitions. For instance, In April 2021, PTC and Technion, which is an Israel Institute of Technology entered into a long-term strategic collaboration. With this collaboration, PTC will invest USD 5 million in PTC’s Haifa Campus and also establish a research and development center. Under the collaboration, both PTC and Technion will research and improve the processes relating to advanced manufacturing technology.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global IoT in Manufacturing Market Report Segment
By Solution
- Network Management
- Data Management
- Device Management
- Smart Surveillance
By Services
- Managed Services
- Professional Services
By Deployment Mode
- On-Premises
- Cloud
By Application
- Predictive Maintenance
- Business Process Optimization
- Asset Tracking & Management
- Logistics & Supply Chain Management
- Real-Time Workforce Tracking & Management
- Automation Control & Management
- Emergency & Incident Management & Business Communication
Global IoT in Manufacturing Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IoT in manufacturing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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