PUBLISHER: Orion Market Research | PRODUCT CODE: 1215842
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215842
Title:Global IoT in Manufacturing Market Size, Share & Trends Analysis Report by Solution (Network Management, Data Management, Device Management and Smart Surveillance), by Service (Managed Services and Professional Services) by Deployment Mode ( On-premises and Cloud) and by Application (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management, and Emergency & Incident Management & Business Communication) Forecast Period (2022-2028).
The global IoT in manufacturing market is anticipated to grow at a substantial CAGR of 11.6% during the forecast period. IoT plays an important role in increasing the procedure of industrial automation in manufacturing industries. IoT support to generate cooperative communications and interaction from manufacturing field input or output require actuators, robotics, and analyzers to upgrade flexibility and deliver enhanced manufacturing.
The global IoT in manufacturing market is segmented based on the solution, services, deployment mode, and application. Based on the solution, the market is segmented into network management, data management, device management, and smart surveillance. Based on the services, the market is sub-segmented into managed services and professional services. Based on the deployment mode, the market is sub-segmented into the on-premises and cloud. Based on the application, the market is sub-segmented into predictive maintenance, business process optimization, asset tracking & management, logistics & supply chain management, real-time workforce tracking & management, automation control & management, and emergency & incident management & business communication. Among these network management is expected to hold the major share during the forecast. Network management solutions support companies in getting clear insights into their network performance, bandwidth, and operational efficiency and address all the major challenges such as reducing overall operational costs, identifying optimal routes for interconnect, and providing accurate insights on the flow of information. Globally, there are a lot of free network management tools available in the market with which network administrators can monitor and inspect their network intensity and operate network infrastructure efficiently.
Geographically market is segmented into: North America, Europe, Asia Pacific, and the Rest of the World. North America region is expected to hold the major share during the forecast period due to the increasing digitalization among people and the rising infusion of automation at industries and government initiatives to encourage technology adoption across the region. Furthermore, rapid adoption of infrastructure supports them virtualize their IT infrastructure and facilitating advanced network management.
The major companies serving the global IoT in manufacturing market include Atos SE, Bosch.IO GmbH, Cisco Systems, Inc., ClearBlade, Inc., General Electric Co, HCL Technologies Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In October 2021, IBM and Boston Dynamics partnered to conduct mobile edge analytics to industrial operations. With this partnership, IBM will deliver data analysis at the edge to support industrial companies to enhance worker safety, optimize field operations, and improve maintenance productivity in environments such as manufacturing facilities, power plants, and warehouses.
Research Methodology
The market study of the global IoT in manufacturing market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: