Global IoT in Manufacturing Market Projected to Grow at 16.7% CAGR, Reaching $617.1 Billion by 2029

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What Is the Expected CAGR for the IoT in Manufacturing Market Through 2025?
In the last few years, the market size of IoT in manufacturing has seen a swift rise. The projection is a growth from $286.53 billion in 2024 to $332.21 billion in 2025, with a compound annual growth rate (CAGR) of 15.9%. Factors influencing this growth in the historic period include Industry 4.0, cost-efficiency, predictive maintenance, supply chain optimization, and quality control.

What's the Projected Size of the Global IoT in Manufacturing Market by 2029?
The manufacturing sector's IoT market size is set to see a swift expansion in the upcoming years. It's projected to reach a whopping $617.1 billion by 2029, with a compounded annual growth rate (CAGR) of 16.7%. The growth anticipated during this period is largely due to factors such as 5G connectivity, edge computing, advancements in AI and machine learning, customization and personalization, and sustainability efforts. Key trends during this anticipated growth period are expected to include digital twins, enhancements in cybersecurity, remote monitoring and control, the use of collaborative robots, also known as cobots, and the advent of smart factories.

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Top Growth Drivers in the IoT in Manufacturing Industry: What's Accelerating the Market?
The IoT market's growth is being propelled by its use in a variety of industries, including the automotive sector. Car manufacturers and consumers across the globe have had fresh opportunities thanks to the integration of IoT in the automotive industry. In the car industry, IoT is achieving widespread fame for its diverse and sophisticated applications. It improves communication, management, and data transfer at any point in transportation. Renowned companies such as Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are investing heavily in the creation of intelligent cars full of wide-ranging features for a more pleasurable, easier and safer driving experience. UBS predicts that by 2030, 12% of all cars sold will belong to autonomous taxi fleets, with approximately 26 million self-driving taxis in operation globally.

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What Trends Will Shape the IoT in Manufacturing Market Through 2029 and Beyond?
IoT devices gather extensive data of various kinds. The appropriate management and analysis of this data can optimize its worth for the business. Data analytics play a significant role in examining IoT data in several domains, including ensuring data precision in time-series, predictive and advanced analytics, data formatting, and geospatial and real-time location (logistical data). Major cloud service providers like Amazon, Microsoft, and Google make use of data analytics to enhance business performance. Several businesses aim to grow their market share with AI algorithms. These are capable of leveraging machine learning and deep learning, enabling enterprises to gain additional value and make educated decisions based on increasing data volumes.

What Are the Main Segments in the IoT in Manufacturing Market?
The iot in manufacturingmarket 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 Top Companies are Driving Growth in the IoT in Manufacturing Market?
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 Will Dominate the IoT in Manufacturing Market Through 2029?
Asia-Pacific was the largest region in the IoT market in 2024. 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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