IoT in Manufacturing Market Witness Highest Growth in near future – Hitachi Ltd., IBM Corporation, Microsoft Corporation

Overview of IoT in Manufacturing Market

According to a new report titled, “IoT in Manufacturing Market by Component and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global IoT in manufacturing market was valued at $424 billion in 2016, and is projected to reach $994 billion by 2023, growing at a CAGR of 13.1% from 2017 to 2023. The predictive maintenance segment is anticipated to witness the highest growth rate during the forecast period.

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North America was the highest revenue contributor to the global IoT in manufacturing market in 2016, owing to deployment of advanced IoT technologies such as Industry 4.0, virtual reality, and augmented reality. In addition, the enhanced internet penetration, decreased cost of powerful sensors & controllers, rapid growth in communication & technology and bandwidth & connectivity, and rise in expenditure by government in the several developed and the developing regions, including North America, Europe, and Asia Pacific, drive the IoT in manufacturing market growth. However, Asia-Pacific is anticipated to witness a significant growth rate, due to increase in number of IoT connected devices; rise in smartphone penetration; convergence of technologies including analytics, cloud, and big data; and exponential social media adoption.

The Major players reported in the market include:

The key players profiled in the global IoT in manufacturing market are Cisco Systems Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Software AG, Texas Instruments, and Zebra Technologies.

KEY BENEFITS

The study provides an in-depth analysis of the IoT in Manufacturing market along with current and future trends to elucidate the imminent investment pockets.

The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.

Porter’s Five Forces and SWOT analyses of key market players in the industry have been provided to highlight the growth strategies adopted by them.

The value chain analysis of the industry signifies the key intermediaries involved, and elaborates their roles and value additions at every stage of the value chain.

The quantitative analysis of the market during the period of 2017-2023 is provided to elaborate the market potential.

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KEY MARKET SEGMENTS:

BY COMPONENT

Software

Services

BY APPLICATION

Predictive Maintenance

Asset Performance Management

Quality Management

Cognitive Process & Operations Management

Supply Chain Management

Others

BY GEOGRAPHY

North America

Europe

Asia Pacific

Central & South America

Middle East and Africa

Key findings of the IoT in Manufacturing Market:

The services segment accounted for the highest share in the global IoT in manufacturing industry in 2016, growing at a CAGR of 13.8% from 2017 to 2023.

The predictive maintenance segment in the IoT in manufacturing market is projected to witness the highest growth rate of 17.6%.

North America IoT in manufacturing market generated the highest share of $148 billion, in terms of revenue, in 2016.

TABLE OF CONTENTS

CHAPTER 1 INTRODUCTION

CHAPTER 2 EXECUTIVE SUMMARY

CHAPTER 3 MARKET OVERVIEW

CHAPTER 4 WORLD IOT IN MANUFACTURING MARKET, BY END USER

CHAPTER 5 WORLD IOT IN MANUFACTURING MARKET, BY APPLICATION

CHAPTER 6 WORLD IOT IN MANUFACTURING MARKET, BY GEOGRAPHY

CHAPTER 7 COMPANY PROFILES

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Posted by on Friday September 13 2019, 6:16 PM EST. All trademarks acknowledged. Filed under Business Services, Featured Press Release, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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