1. What is the projected Compound Annual Growth Rate (CAGR) of the Internet of Things (IoT) in Manufacturing Market?
The projected CAGR is approximately 20.3%.
Internet of Things (IoT) in Manufacturing Market by Platform (Device Management, Application Management, Network Management), by Software & Services (Software Solution, Services), by Application (Predictive Maintenance, Asset Tracking, Management, Logistics, Supply Chain Management, Real-Time Workforce Tracking, Management, Emergency, Incident Management, Others), by North America (United States, Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of Middle East & Africa), by Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2025-2033
The Internet of Things (IoT) in Manufacturing Market size was valued at USD 27.76 USD Billion in 2023 and is projected to reach USD 101.22 USD Billion by 2032, exhibiting a CAGR of 20.3 % during the forecast period. Internet of Things (IoT) in manufacturing is the combining of sensors, devices and software at the manufacturing operations to facilitate the transfer of data, communication and automation. Example uses include predictive maintenance, on-line equipment monitoring, stock management, and supply chain control. In manufacturing, there are generally two main forms of the Internet of Things: Industrial IoT (IIoT) and Operational Technology (OT). Sensors, actuators, connecting interfaces, and data analytics platforms are among components typically used. AI-powered predictive analytics, digital twin simulation, and edge computing for decision-making support at the manufacturing premises are some of the ways through which the future of IoT manufacturing is changing.
Platform:
Software & Services:
Application:
The report provides a comprehensive and in-depth analysis of the Internet of Things (IoT) in Manufacturing market, covering:
The global IoT in manufacturing market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America currently dominates the market, followed by Europe. Asia-Pacific is expected to witness the highest growth rate due to the growing adoption of IoT technologies in emerging economies.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 20.3% from 2019-2033 |
Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 20.3%.
Key companies in the market include Cisco Systems, Inc., IBM Corporation, General Electric Company, Intel Corporation, Siemens AG, Microsoft Corporation, SAP SE, SOFTWARE AG, ZEBRA TECHNOLOGIES, HITACHI LTD..
The market segments include Platform, Software & Services, Application.
The market size is estimated to be USD 27.76 USD Billion as of 2022.
Rising Demand from the Automotive and Construction Sectors to Aid Market Growth.
The increasing availability of connected logistics solutions equipped with a high level of interoperability. security and accessibility features. is fuelling the demand for these solutions. Additionally. the need to lower down the cost associated with warehousing services and shipment are driving the growth of the market. The expanded market for intelligent transportation solutions is anticipated to accelerate the growth of the market..
The Change in International Policies is Expected to Impact the Market Growth.
N/A
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.
The market size is provided in terms of value, measured in USD Billion.
Yes, the market keyword associated with the report is "Internet of Things (IoT) in Manufacturing Market," which aids in identifying and referencing the specific market segment covered.
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
To stay informed about further developments, trends, and reports in the Internet of Things (IoT) in Manufacturing Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.
Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.
We use cookies to enhance your experience.
By clicking "Accept All", you consent to the use of all cookies.
Customize your preferences or read our Cookie Policy.