IoT in Manufacturing Market 2020: Top Factors That Could Boost Markets Growth | Allied Market Research

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 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.

Access full summary report at: https://www.alliedmarketresearch.com/IoT-in-manufacturing-market

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. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to expand their businesses in the IoT in manufacturing industry.

Get Sample Report for More Details @ https://www.alliedmarketresearch.com/request-sample/2483

The IoT in manufacturing global market is in its growth phase, and is expected to witness average growth rate of 13.1% during the forecast period, due to technological advancements and various machine-to-machine communication and cloud computing initiatives.

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/2483

In 2016, the services segment accounted for the highest share in the IoT in manufacturing market, while the predictive maintenance segment is anticipated to witness the highest growth rate, owing to automation of manufacturing processes to deliver a better experience to their end users.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.