IOT Drives Transformation In The Automotive Industry, Paving The Way For Smart, Autonomous Driving Experiences: Transformative Forces Shaping the IoT in Manufacturing Market Landscape in 2025

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What Will the IoT in Manufacturing Industry Market Size Be by 2025?
Over the past few years, there has been a swift expansion in the IoT in manufacturing market size. It's predicted to escalate from $286.53 billion in 2024 to $334.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.8%. Factors such as Industry 4.0, cost efficiency, predictive maintenance, supply chain optimization, and quality control have contributed to its growth during the historic period.

What's the Long-Term Growth Forecast for the IoT in Manufacturing Market Size Through 2029?
Expectations are high for the IoT in manufacturing market, as it's predicted to experience speedy expansion in the forthcoming years. With a projected compound annual growth rate (CAGR) of 17.1%, the market is forecasted to rise to $630.32 billion by 2029. This anticipated boom in the upcoming period can be credited to elements such as 5g connectivity, edge computing, AI & machine learning, customization & personalization, and sustainability. Looking forward, several significant trends in the period forecasted encompass digital twins, cybersecurity, remote monitoring & control, collaborative robots (cobots), and smart factories.

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What Are the Key Growth Drivers Fueling the IoT in Manufacturing Market Expansion?
The IoT market is experiencing growth due to its implementation in various sectors, notably the automotive industry. Utilizing IoT in this industry has unlocked new possibilities for both car manufacturers and users globally. Its use in automotive applications has become a significant point of interest due to its multifunctionality. IoT improves interaction, regulation, and data transmission at all transportation stages. Renowned firms such as Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are making substantial investments in the creation of innovative vehicles equipped with advanced features that promote superior, comfortable, and enjoyable driving experiences. As per the data provided by UBS, it is projected that by 2030, 12% of the overall car sales will be autonomous taxi fleets with an estimation of 26 million driverless taxis in operation worldwide.

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What Are the Key Trends Driving IoT in Manufacturing Market Growth?
IoT devices accumulate a vast amount of varied data. Processing and evaluating this data can potentially enhance its worth to the company. The application of data analytics to the analysis of IoT data can be seen in several domains, such as verifying the accuracy of time series data, predictive and advanced analytics, data compilation, and real-time geospatial and logistical data. For example, large cloud suppliers like Amazon, Microsoft, and Google are progressively leveraging data analytics to enhance their business performance. Many companies aspire to augment their market share through AI algorithms that utilize machine learning and deep learning, enabling businesses to extract more out of the burgeoning data volumes and make data-driven decisions.

How Is the IoT in Manufacturing Market Segmented?
The IoT in manufacturing market covered in this report is segmented -

1) By Component: Solution, Platform, Service
2) By Vertical: Energy And Utilities, Automotive, Food And Beverages, Aerospace And Defense, Chemicals And Materials, High-Tech Products, Healthcare
3) By Platform: Device Management Platform, Application Management Platform, Connectivity Management Platform
4) By Application: Process Optimization, Predictive Maintenance, Asset Management, Workforce Management, Emergency And Incident Management, Logistics And Supply Chain Management, Inventory Management

Subsegments:
1) By Solution: Hardware, Software
2) By Platform: IoT Platform, Cloud Platform, Edge Computing Platform
3) By Service: Professional Services, Managed Services

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Which Companies Are Leading the Charge in IoT in Manufacturing Market Innovation?
Major companies operating in the IoT in manufacturing market include Microsoft Corporation, SAP SE, Robert Bosch GmbH, International Business Machines Corporation, Cisco Systems Inc., General Electric Company, Huawei Technologies Co. Ltd., PTC Inc., Zebra Technologies Corporation, Siemens Aktiengesellschaft, Rockwell Automation Inc., Wind River Systems Inc., Schneider Electric SE, ClearBlade Inc., Mocana Corporation, Impinj Inc., Uptake Technologies Inc., PalleTech LLC, ELMODIS Sp. z o.o., Water.IO Inc., SensEye LLC, ARCSTONE Pte. Ltd., SupraControl Technologies Inc., Software AG, Texas Instruments Incorporated, Hitachi Ltd., Konux GmbH, Honeywell International Inc., Intel Corporation, ABB Ltd., Mitsubishi Electric Corporation, Fujitsu Limited, accenture* plc, Oracle Corporation, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., Amazon Web Services Inc., Fanuc Corporation, Kuka AG, Yaskawa Electric Corporation

Which Regions Are Leading the Global IoT in Manufacturing Market in Revenue?
Asia-Pacific was the largest region in the IoT market in 2023. North America was the second largest region in the IoT market. The regions covered in the iot in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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