IoT in Manufacturing Market Size, Share & Trends Analysis Report Forecast Period 2024-2031.

IoT in manufacturing market is anticipated to grow at a significant CAGR of 11.6% during the forecast period. The concept of IoT or the 'internet of things has gained rapid popularity in recent years. The use of IoT in applications across various industries has opened up a huge potential for the companies operating in this market. The growing demand for automated machines and equipment in the manufacturing industry will lead to the ample adoption of IoT concepts. Increasing demand for customization, growing expectations for simplified and easy-to-use machinery, and the requirement for efficient and reliable data will assist the growth of the IoT in manufacturing market.

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Impact of COVID-19 Pandemic on Global IoT in Manufacturing Market

Due to the COVID-19 pandemic, the demand for IoT in manufacturing market has been increased. In manufacturing industry where all the operations were put on hold, the organizations have changed their priorities, such as organizations want to monitor the health and wellness of employees as they were working from home. . Furthermore, several factors such as the growing need for tracking real-time information, and the growing adoption of cloud-based manufacturing software were driving the growth of the market during the COVID-19 pandemic.

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by Solution (Network Management, Data Management, Device Management, and Smart Surveillance),

by Service (Managed Services and Professional Services) by Deployment Mode ( On-premises and Cloud) and

by Application (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management, and Emergency & Incident Management & Business Communication)

Market Players Outlook

The major companies serving the global IoT in manufacturing market include Atos SE, Bosch.IO GmbH, Cisco Systems, Inc., ClearBlade, Inc., General Electric Co, HCL Technologies Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Cisco and Telstra signed a new contract to collaborate and continue their bridge regions with the powerful IoT network to support several industries, including retail, financial, and government.

The Report Covers

Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global IoT in manufacturing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

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