Internet of Things (IoT) Connected Machines market is set to experience a remarkable growth surge, with a projected CAGR of 24.62% by 2029

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Data Bridge Market Research analyses that the internet of things (IoT) connected machines market will exhibit a CAGR of 24.62% for the forecast period of 2022-2029.

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IoT-connected machines are widely used across a wide range of industries, sizes, and verticals to minimize workload by automating processes, eliminate monotonous activities, and give a superior and digitized experience. IoT connected machines have also shown to be useful in dealing with large amounts of data, big data, and AI (artificial intelligence).

The internet of things (IoT) connected machines market is being driven by the rising adoption of 5G technology. Growing preference of cloud computing solution in the industrial and manufacturing sector is a major factor driving the market's growth. The rise in the government projects of smart cities in different countries is driving up demand for internet of things (IoT) connected machines market. Other significant factors such as developing implication of machine learning language and the rising demand for real time responses and timely functioning of IoT systems will cushion the growth rate of internet of things (IoT) connected machines market. Another vital factor is the government initiatives to boost AI-related technologies will accelerate the growth of internet of things (IoT) connected machines market. Furthermore, technological advancements and increase in the adoption rate of smartphones and digital media will influence the internet of things (IoT) connected machines market for the forecast period mentioned above. Also, the growing demand for artificial intelligence and big data technology will act as a major factor influencing the growth of internet of things (IoT) connected machines market.

Moreover, the increase in the demand for industry 4.0 and growing manufacturing countries in developing countries will boost the beneficial opportunities for the internet of things (IoT) connected machines market growth. Additionally, strong demand from various end-use industries and growing demand for data analysis and analytics integration will act as market drivers that will further result in the enhancement of growth rate of internet of things (IoT) connected machines market.

How Data Bridge Market Research Assists in Making Strategic Moves for Internet of Things (IoT) Connected Machines Market Players?

The data provided in the Internet of Things (IoT) Connected Machines market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.

The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Key Players Operating at both regional and global levels:

Some of the major players operating in the internet of things (IoT) connected machines market are Beckhoff Automation, Dell Inc., Honeywell International Inc., Plex Systems Private Limited, Advantech Co., Ltd., AT&T Intellectual Property, B&R, Cisco Systems Inc., General Electric, IBM, Robert Bosch GmbH, Rockwell Automation, Inc, Schneider Electric, Siemens, Capgemini., ABB, Microsoft, Huawei Technologies Co., Ltd., Google LLC, and Akamai Technologies, among others.

Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market's growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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Market Segmentation of Internet of Things (IoT) Connected Machines Market:

On the basis of component, the IoT connected machines market is segmented into hardware, software and services. Hardware is further sub-segmented into IoT kits and gateways. Services segment is further sub-segmented into consulting services, integration services and support services.
The industry segment of IoT connected machines market is divided into automotive, aviation, oil and gas, transportation, power generation and utility, manufacturing, healthcare, retail and other.
Global Internet of Things (IoT) Connected Machines Market: Regional Analysis

The countries covered in the internet of things (IoT) connected machines market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the internet of things (IoT) connected machines market during the forecast period of 2022-2029 and will continue to flourish its trend of dominance during the forecast period due to the technological advancement, increasing initiatives of projects linked with smart cities and growing demand from various end-use industries in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the growing government support for the development of strong IoT network site in this region.

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