IoT in Manufacturing Market 2020 Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

P&S Intelligence published a new research report, titled, "IoT in Manufacturing Market: Global Industry Analysis and Forecast till 2030, The global internet of things (IoT) in manufacturing market is estimated to attain notable growth during the forecast period (2020-2030). The increasing requirement for predictive maintenance and centralized monitoring of manufacturing facilities; technological advancements, including smart sensors, and augmented and virtual reality; rising government initiatives; and growing demand for traceability and transparency in business processes are some of the factors boosting the growth of the market, globally.

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The increasing requirement for predictive maintenance and centralized monitoring of manufacturing facilities is driving the growth of the IoT in manufacturing market. For instance, in the automotive industry, centralized monitoring of the manufacturing processes is employed using indoor location systems. In the system, manufacturing equipment, process operators, and other related parts are integrated with the help of radio communication systems. On the basis of the radio triangulation method, the location of all the parts and resources that are involved in the process of manufacturing is determined.

IoT helps digitally transform the manufacturing sector, as it integrates a network of sensors to collect valuable production data and implements cloud software to generate informative insights from this data about the efficiency of the manufacturing operations. The IoT in manufacturing market on the basis of component is categorized into solutions and services. Between the two, the services category is projected to attain faster growth during the forecast period.

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This market research report provides a comprehensive overview of the IoT in manufacturing market

* Future potential of the market through its forecast for the period 2020- 2030

* Major factors driving the market and their impact during the short, medium, and long terms

* Market restraints and their impact during the short, medium, and long terms

* Recent trends and evolving opportunities for the market participants

* Historical and the present size of the market segments and understand their comparative future potential

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