The IoT in Manufacturing Market is expected to grow from USD 175.3 billion in 2020 to USD 399.08 billion by 2026 at a CAGR of 14.76% from 2020 to 2026.
IoT in Manufacturing is the method of digital transformation in manufacturing. Industrial IoT deploys a network of sensors to gather critical production data and uses cloud software convert this data into useful insights about the efficiency of manufacturing operations. The key adoption drivers are a shorter time to market, mass customization, cost reduction and improved safety. IoT is used to allow industries to install a flexible, connected and efficient pumping system. The demand for centralized monitoring and predictive maintenance is a significant factor of the IoT in the manufacturing market. The central monitoring of the process of manufacturing in the automotive industry is implemented using indoor location systems. The IoT devices used in the transceivers connect with each other through routers, switches and other networking devices. IoT devices are being highly used in predictive maintenance, which has a prominent role in managing high-valued factory equipment. The predictive maintenance technique is aimed to estimate the condition of the in-service manufacturing equipment to forecast when maintenance should be performed. The significant command of IoT in the supply chain and connected logistics is likely to fuel the IoT manufacturing market growth. Improved inventory management, owing to the accessibility of real-time visibility of items and the potential to track and keep a track of inventory, is a key consequence of the implementation of IoT in manufacturing industries. There has been an increase in the usage of cloud computing in IoT. IoT devices require a huge storage to share information for the purpose of valuation. It helps in storage and data analysis so that the enterprise can obtain maximum advantage from an IoT infrastructure. Operational efficiency is obtainable with the perfect combination of four components; the Operation OT engineer, efficient support resources, the Competent Integrator partner and the OT network. The Industrial Internet of Things (IIoT) is bringing emphasis to connecting sensor data in an agile manner and offering actionable intelligence. On the other hand, dearth of interoperability and common standards will likely to hamper the market growth.
Furthermore, the convergence of OT and IT is the combination of information technology (IT) systems utilized for data-centric computing with operational technology (OT) systems utilized to monitor events, processes and devices and make modifications in enterprise and industrial operations. The characteristic will boost the market growth.
The global IoT in Manufacturing Market is segregated on the basis of Application as Predictive Maintenance, Asset Performance Management, Quality Management, Cognitive Process & Operations Management, Supply Chain Management and Others. Based on Component the global IoT in Manufacturing Market is segmented in Software and Services.
The global IoT in Manufacturing Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The IoT in Manufacturing Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
IBM, Zebra Technologies, Impinj, Schneider Electric, Sciencesoft are among the major players in the global IoT in Manufacturing Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global IoT in Manufacturing Market has been segmented as below:
IoT in Manufacturing Market, By Application
IoT in Manufacturing Market, By Component
IoT in Manufacturing Market, By Region
IoT in Manufacturing Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global IoT in Manufacturing Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global IoT in Manufacturing Market share. Major industry players with significant revenue share IBM, Zebra Technologies, Impinj, Schneider Electric, Sciencesoft and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. IoT in Manufacturing Market, By Application
5.1. Key Points
5.2. Predictive Maintenance
5.3. Asset Performance Management
5.4. Quality Management
5.5. Cognitive Process & Operations Management
5.6. Supply Chain Management
5.7. Others
6. IoT in Manufacturing Market, By Component
6.1. Key Points
6.2. Software
6.3. Services
7. Competitive Landscape
7.1. Introduction
7.2. Start-up companies- IoT in Manufacturing Market
7.3. Recent Developments
7.3.1. Mergers & Acquisitions
7.3.2. New Product Developments
7.3.3. Portfolio/Production Capacity Expansions
7.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
7.3.5. Others
8. Company Profile
8.1. IBM
8.2. Zebra Technologies
8.3. Impinj
8.4. Schneider Electric
8.5. Sciencesoft
8.6. Intel
8.7. Litmus
8.8. Microsoft
8.9. Mocana
8.10. Oracle
8.11. PTC
8.12. SAP
8.13. Siemens Ag
8.14. Software Ag
8.15. Telit
8.16. Uptake
8.17. Wind River
8.18. Cisco
8.19. Clearblade
8.20. GE
8.21. HCL
IoT in Manufacturing Market, By Application
IoT in Manufacturing Market, By Component
IoT in Manufacturing Market, By Company