IoT In Manufacturing Market: Spiraling Need For Agile Production And Operational Efficiency Boosts Implementation

With the emergence of advanced data processing and data analytics, the global IoT in manufacturing market is estimated to follow a notable growth trajectory in the years to come. This along with more trends are explained in detail in a research report by Transparency Market Research (TMR), titled “IoT in Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.” The report offers invaluable insights into various other critical aspects of the global market for IoT in manufacturing, including competitive landscape and geographical segmentation.

The burgeoning demand for centralized monitoring and predictive maintenance of manufacturing set-ups is one of the primary factors augmenting the global IoT in manufacturing market. The advent of advanced data analytics, intelligent machine applications, and data processing is also providing a fillip to the market. Moreover, the soaring need for operational efficiency and agile production is promoting the implementation of IoT in manufacturing infrastructure.

On the flip side, the growing skepticism regarding data privacy and security along with the lack of standards for interoperability and interconnectivity is limiting the widespread adoption of the IoT technology. However, the rising popularity of shared security is likely to unfold several growth opportunities for the global IoT in manufacturing market.

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On the basis of platform, the global IoT in manufacturing market can be divided into application management, connectivity management, and device management. The demand for application management platform is likely to remain high over the forthcoming years. Its ability to manage heterogeneous application provisioning and ensuring application-level security services, along with optimizing cost and feasibility, is escalating its adoption.

The key regions meticulously studied in the report are North America, Asia Pacific, Europe, and Rest of the World. The higher acceptance of advanced and innovative technologies makes North America one of the prominent destinations for IoT in manufacturing. The growth of the region can also be attributed to the presence of numerous manufacturing units. Moreover, the emergence of startup culture and the booming small and medium enterprises are fuelling the growth of the region.

The increasing number of new players venturing into the arena has rendered the global IoT in manufacturing market highly competitive. The majority of players in the market are focusing towards business development through technological advancements and product innovation. Some of the key players in the market are PTC Incorporation, Bosch Software Innovations GmbH, Huawei, General Electric, Zebra Technologies, Cisco Systems Inc., IBM Corporation, SAP SE, Rockwell Automation, Siemens AG, and Microsoft Corporation.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information

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This release was published on openPR.