Internet of Things Market in Manufacturing Introduction
Industrial Internet of things (IIoT) has become critical component for manufacturing companies to gain competitive advantage. Widespread adoption of IoT solutions across manufacturing and mining companies for various major and emerging applications such as data analysis and process automation and control is leading to enhance operational efficiency, thereby increase in ROI and operational efficiency. IoT technology has proven its veracity and efficacy within automotive, electronics and resource extraction industries and gaining rapid popularity as a game changing technology.
Manufacturing companies are investing substantial amount on industrial IoT to optimize production process, enhance diagnosis equipment remotely and efficient management of company asset. Additionally, manufacturers focus to improve supply chain operations visibility and enhance level of customer service is projected to boost adoption of IoT solutions, propelling market growth across the globe. Further, favorable regulation and government support to implement automation technologies in both large and medium manufacturing companies to open opportunity window for IoT vendors. However, high cost associated with deployment of factory automation systems and solutions is anticipated to hinder growth of the IoT market in manufacturing industry.
Global IoT market in manufacturing scope consists of major segments and regions. Major segments covered in this research study are offering, solution, service and end user. The offering segment includes hardware/intelligent system, solution, and service. Based on solution the IoT market in manufacturing is bifurcated into facility management, security solution, connected logistics, predictive maintenance, asset management and other solutions. By service, the market is sub-segment into implementation & Integration, consulting, outsourcing, and repair & maintenance service.
Major regions studied in this research study include North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. Rising spending on robotics and automating technologies in North America by manufacturing and resource extraction industries is fueling growth of IoT market in manufacturing industry in the region. Additionally, introduction of industry 4.0 program led to enormous adoption of IoT technology in manufacturing sector in Europe, making it one of the leading regional markets. However, Asia Pacific is expected to attain highest CAGR during the forecast period owing to major growth coming from emerging markets such as China and India.
Internet of Things Market in Manufacturing Competitive Landscape
Some of the leading players in the IoT market in manufacturing research study to be profiled are PTC, IBM, Zebra Technologies, TATA Consultancy Service, Fanuc, KUKA Systems Group, Epson, Lockheed Martin, and SAP SE. Major players in the manufacturing IoT market or Industrial internet of things (IIoT) market are focused towards introducing application specific automation solutions to gain technology edge.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on IoT market in manufacturing would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.