Should You Be Excited About IoT in Process Manufacturing Market 46.3% CAGR?

A new research document is added in HTF MI database of 91 pages, titled as 'Global IoT in Process Manufacturing Market – Drivers, Opportunities, Trends, and Forecasts: 2016–2022' with detailed analysis, Competitive landscape, forecast and strategies. Latest analysis highlights high growth emerging players and leaders by market share that are currently attracting exceptional attention. The identification of hot and emerging players is completed by profiling 50+ Industry players; some of the profiled players are PTC Inc., Cisco Systems Inc., IBM Corporation, GE, SAP SE, Intel Corp., Microsoft Corp., and others. The Market has witnessed continuous growth in the past few years and is projected to see some stability post Q2,2020 and may grow further during forecast year 2021-2026

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Summary
IoT in Process Manufacturing Market – Global Drivers, Opportunities, Trends, and Forecasts to 2022
Brief:
Globally, the increasing pressure to improve production activities and performance has led the process manufacturing industry players to adopt IoT in their business units. IoT in process manufacturing allows the companies to gather more data from the production operations by connecting smart devices to their networks.
Understanding the various aspects of IoT in process manufacturing helps the manufacturers to address security issues, improves operation efficiency, reduces the operation costs, improves business operations & intelligent decision making, and helps to offer better customer service. It will enhance the smart features such as smart monitoring, production integration, remote diagnosis, and predictive maintenance. Globally, IoT players are coming up with new innovations to increase the IoT adoption rate in process manufacturing industries.

Market Analysis
According to HTF MI Research, the “IoT in process manufacturing” market will witness a CAGR of 46.3% during the forecast period 2016–2022.
The market is segmented by types, applications, technology, verticals, and regions. The increasing demand for real-time monitoring applications and customized IoT solutions are the major drivers for the market growth. In addition, rising implementation of machine learning, big data, analytics, sensor technology, and cloud technology are supporting the IoT in process manufacturing market.

Technology Analysis
Technologies play a key role in implementing IoT in process manufacturing industry. The major technologies covered in this report are Wi-Fi, 3G, 4G, Bluetooth & BLE, and Ethernet. These technologies assist the manufacturers in machine-to-machine communications (M2M), asset tracking & inventory management, logistics maintenance, and other processes in manufacturing plant. Wi-Fi is the major technology that is being implemented by process manufacturing players and has huge market share, growing at a CAGR of 47.7% during the forecast period 2016–2022.

Services & Applications Analysis
The services covered in the report are professional services, managed services, system integrations, and others. Professional services is dominating in the service segment and its market revenue is expected to reach $4,752.8 million by 2022.
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The professional service helps to adapt to changes in business process, provides operational effectiveness by combining CRM and ERP in the production process, provides real-time visibility into the operations, and also increases the profit of the companies.
Applications
The applications covered in this report are predictive maintenance, assets tracking & inventory management, supply chain & logistics, remote monitoring & control, process automation, and others.
The process manufacturers are benefiting from the implementation of advanced IoT applications. Predictive maintenance applications are in demand as it reduces the downtime & maintenance cost, increases equipment efficiency by maximizing the equipment uptime, increases the quality of the production, and enhances the supply chain process.

Key Players & Competitive Analysis:
Some of the key players are PTC Inc., Cisco Systems Inc., IBM Corporation, GE, SAP SE, Intel Corp., Microsoft Corp., and others. At present, big players are acquiring small and start-up players to increase their market share. Also, they are focusing on offering customized IoT solutions to the manufacturers at competitive price to improve the operation performance and flexibility in the production process.

Benefits:
The report provides an in-depth analysis of the demand and the adoption rate of technologies, applications, services, and software of IoT technology in the process manufacturing industry.
The study covers and analyzes the “Global IoT in Process Manufacturing” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

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Table of Contents
1 Industry Outlook 10
1.1 Industry Overview 10
1.2 Industry Trends 10
1.3 PEST Analysis 11
2 Report Outline 11
2.1 Report Scope 11
2.2 Report Summary 12
2.3 Research Methodology 12
2.4 Report Assumptions 13
3 Market Snapshot 13
3.1 Total Addressable Market (TAM) 13
3.2 Segmented Addressable Market (SAM) 14
3.3 Related Markets 14
3.3.1 IoT in Consumer Electronics 14
3.3.2 Smart Home Market 15
4 Market Outlook 15
4.1 Overview 15
4.2 Market Definition – Infoholic Research 15
4.3 Market Trends 16
4.4 Market Segmentation 16
4.5 Porter 5 (Five) Forces 17
5 Market Characteristics 17
5.1 Ecosystem 17
5.2 Market Dynamics 18
5.2.1 Drivers 19
5.2.1.1 Low operational costs 19
5.2.1.2 Improved optimization and control of operations 19
5.2.1.3 Better customer service and support 19
5.2.2 Restraints 19
5.2.2.1 Lack of standards and regulations 19
5.2.2.2 Supply chain concerns 19
5.2.2.3 Lack of unified data models 20
5.2.3 Opportunities 20
5.2.3.1 New business models 20
5.2.3.2 Diversification of revenue stream 20
5.2.3.3 Sustainable growth in IoT space 20
5.2.3.4 Rising demand for the automation solutions 20
5.2.4 DRO – Impact Analysis 21
5.2.5 Key Stakeholders 22

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