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Global IoT in Manufacturing Market 2024 By Prominent Key Players: Huawei Technologies, Rockwell Automation, Siemens AG, Microsoft, IBM, Intel, Cisco Systems, PTC, Schneider Electric, Zebra Technologies, Honeywell, Hitachi, Hewlett Packard Enterprise, Dell
IoT in Manufacturing Market
The technology is capable to improvise the operational visibility across the manufacturing industry. This is credited to its capability of obtaining real-time insights into each step of the supply chain process along with the production line.
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Complexities associated with IoT network coupled with lack of sufficient resources are expected to boost the demand for managed services across the users. Businesses are currently focusing on managed services pertaining to the cost-effectiveness associated with such services coupled with their growing IT infrastructure. Usage of managed services helps the valuable resources of various enterprises to focus more on their core competencies generating more revenue.
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.
Asia Pacific IoT in manufacturing market is anticipated to witness growth owing to the emerging industrial sector in countries such as China, India, South Korea and Taiwan. The auto industry in India accounts for over 7% of India’s GDP. Improving government framework, growing domestic industry, developing infrastructure and the Make in India initiative are attracting major investments in the auto sector which will allow the implementation of several digital technologies in the country driving the IoT demand.
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Moreover, rising consumer demand in the food & beverage sector in Asia Pacific require higher fulfilment agility that is resulting in rising demand of advanced technologies to have a proper real-time course correction and supply chain monitoring further, driving the IoT in manufacturing market.
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, PTC Inc., Honeywell International Inc, Hitachi Ltd., Hewlett Packard Enterprise Dell Inc., General Electric and ABB Ltd.
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