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IoT in Manufacturing Market Analytical Overview, Growth Factors, Demand and Trends Forecast to 2024

Author : Ronak Bora | Published Date : 2020-08-28 

Rising events of cyber-attacks across various industries poses challenge to the IoT in manufacturing market growth over the forecast timeline. Data security & privacy concerns associated with the huge volume of data fashioned from number of devices in the network making it susceptible to security breaches. Lack of standards associated with interoperability of connected devices might restrain the industry growth.

Software segment is anticipated to witness considerable growth in IoT in manufacturing market over the forecast timeframe. The growth is credited to the rising implementation of solutions such as data management & remote management software solutions. Industries located in manually inaccessible areas requiring remote monitoring solutions is expected to fuel the demand for software solutions.

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Increasing adoption of these solutions across the automotive sector will propel the IoT in manufacturing market growth. It is attributed to the advantages such as anticipation & prevention of potential failure in the operations by optimizing the efficiency of equipment & assets in a cost-effective manner. Emerging trend of connected automotive coupled with increasing use of improvised digital technologies in vehicles is expected to offer opportunities to the IoT in manufacturing market. Intensified competition coupled with the rising customer demand are leading the OEMs to offer improvised digital connectivity & advanced vehicle features.

With an aim to comply with the critical advancements in the technology cosmos, IoT in manufacturing industry players have been developing novel products incorporated with IoT sensors for various sectors such as the automotive, consumer goods, chemical, and electronics. Acknowledging the numerous benefits of the Internet of things, several key players in IoT in manufacturing market have been attempting to brainstorm products that would have an appreciable influence on the overall business landscape in the ensuing years. Some of the renowned firms striving to augment the profitability landscape of IoT in manufacturing industry are Microsoft Corporation, Zebra Technologies, Rockwell Automation, PTC Inc., IBM Corporation, Huawei Technologies, Bosch, Siemens AG, Intel Corporation, Schneider Electric, and Cisco Systems.

Currently, many manufacturers have already deployed IoT systems in their workflow to increase their functionality via predictive maintenance, track assets in their factories, and combine their control rooms. The shifting focus of manufacturing behemoths toward the deployment of more advanced technologies such as augmented reality (AR) and robotics is slated to fuel IoT in manufacturing industry size. The digital transformation in the manufacturing sector has been forecast to generate new opportunities for various end-use industries such as automotive, electronics, consumer goods, etc., subject to the intensive networking customers through IoT.

Asia Pacific IoT in manufacturing market is predicted to grow substantially over the forecast timeline. This is attributed to the emerging manufacturing sector in countries such as India, Taiwan, China and South Korea. The Indian automotive industry contributes over seven percent to the country's GDP. Improving infrastructure and Make in India initiative are attracting potential investments in the automotive sector. Furthermore, growing trend of smart factories across the Asia Pacific region provide lucrative growth opportunities to the industry.

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Companies operating in the IoT in manufacturing market include: Microsoft Corporation, Siemens AG, IBM Corporation, Rockwell Automation, Bosch GmbH, Intel Corporation, Huawei Technologies, Cisco Systems, Inc., Schneider Electric, Zebra Technologies and PTC Inc. The industry players are increasingly focusing on improving the operational efficiency helping the users in terms of maintenance & operations, safety & security as well as production asset management.

Table of Contents (ToC) of the report:

Chapter 4.   IoT in Manufacturing Market, By Platform

4.1.  Global IoT in manufacturing market share by platform, 2016 & 2024

4.2.  Network management

4.2.1. Market estimates and forecast, 2013 - 2024

4.2.2. Market estimates and forecast, by region, 2013 - 2024

4.3.  Device management

4.3.1. Market estimates and forecast, 2013 - 2024

4.3.2. Market estimates and forecast, by region, 2013 – 2024

4.4.  Application management

4.4.1. Market estimates and forecast, 2013 - 2024

4.4.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5.   IoT in Manufacturing Market, By Technology

5.1.  Global IoT in manufacturing market share by technology, 2016 & 2024

5.2.  Sensor

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2. Market estimates and forecast, by region, 2013 – 2024

5.3.  RFID

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2. Market estimates and forecast, by region, 2013 – 2024

5.4.  Connectivity technology

5.4.1. Market estimates and forecast, 2013 - 2024

5.4.2. Market estimates and forecast, by region, 2013 - 2024

5.5.  Others

5.5.1. Market estimates and forecast, 2013 - 2024

5.5.2. Market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/iot-in-manufacturing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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