IoT in Manufacturing Market by Component, Deployment Mode, Organization Size, Application, Vertical and Region ...

Dublin, March 08, 2022 (GLOBE NEWSWIRE) -- The "Global IoT in Manufacturing Market by Component (Solutions (Network Management, Data Management) and Services (Professional, Managed)), Deployment Mode, Organization Size, Application, Vertical (Process, Discrete), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

This research report forecasts the global IoT in Manufacturing market to grow from USD 50 billion in 2021 to USD 87.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period.

The presence of various key players in the ecosystem has led to competitive and diverse market. IoT in manufacturing is a technique of digital transformation that the manufacturing companies adopt for their efficient working of machines and their employees. This employs a network of sensors to collect critical production data and cloud and analytics software are used to convert these data collected to useful information for effective decision-making about the manufacturing operations. This adoption of IoT enables manufacturing units to automate their processes and are used for reducing cost, shorter time to market, mass customization, and improve safety. Connected sensors and actuators enable companies to pick up on inefficiencies and problems sooner and save time and money, while supporting BI efforts.

The services to record a higher growth rate during the forecast period

In the IoT in Manufacturing market by component, the services is expected to record a higher growth rate during the forecast period. Services play a vital role in the IoT in Manufacturing market, as they enable manufacturing enterprises to establish digitized and connected manufacturing processes with mass customization and a self-configuring, automated manufacturing floor. The services segment is considered an important component of the IoT in Manufacturing market, as it majorly focuses on improving the business operations and reducing unnecessary expenses and overheads of the manufacturing enterprises.

Large Enterprises are expected to hold a larger market size during the forecast period

By Organisation size, large enterprises are expected to hold the largest market size in the present market. The high adoption is due to the affordability and high economies of scale of large enterprises that enable organizations to leverage IoT in manufacturing solutions and services. In today's highly competitive world, large enterprises particularly leave no stone unturned to capture a larger market share. Hence, large enterprises spend significant amounts on becoming technologically proficient.

Cloud Deployment is expected to have a higher growth rate during the forecast period

By Deployment Mode, cloud is expected to have a higher growth rate. The implementation of the cloud-based IoT in manufacturing software facilitates SMEs and large enterprises to focus on their core competencies rather than IT processes. With the help of cloud-based IoT in manufacturing solutions, organizations can avoid costs related to software, storage, and technical staff. The cloud-based IoT in manufacturing solutions offer a centralized way to integrate the system and its components with web and mobile applications and helps organizations in asset management, asset maintenance, and asset productivity in the manufacturing industry.

Asset control and management is expected to have a higher growth rate during the forecast period

By Application, Asset control and management is expected to have a higher growth rate. Asset tracking and management streamlines operations, reduces costs and increases productivity. By tracking non-fixed assets in a factory environment, organizations automatically keep on top of available assets. Knowing where assets are located and what condition they are in helps minimize asset downtime, optimize asset productivity and maintenance of resources and control inventory costs. Most manufacturing companies that have their valuable assets distributed across a large geographical area have to contend with a host of problems that affect their operational efficiencies, productivity, costs, staffing, and ultimately their bottom line, among other things.

APAC to have a higher growth rate during the forecast period

APAC is expected to grow at the highest CAGR during the forecast period. The IoT in Manufacturing market in APAC is expected to experience strong growth in the coming years, due to the constant economic growth, increasing the young workforce, and the usage of tablets and smartphones for business purposes will lead toward the adaptation of enterprise mobility solutions to meet the growing demand for securing and protecting critical data. The major reason for this high growth in APAC is the increasing digitalization among people and the rising infusion of automation at industries and government initiatives to promote technology adoption across the region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights4.1 Attractive Opportunities in the Market4.2 North American Market, 20214.3 Asia-Pacific Market, 20214.4 Market, by Country

5 Market Overview and Industry Trends5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Growing Demand for Industrial Automation in the Manufacturing Industry5.2.1.2 Rising Need for Centralized Monitoring and Predictive Maintenance of Assets5.2.1.3 Rise in the Number of Cost-Effective and Intelligent Connected Devices and Sensors5.2.1.4 Increasing Need for Reliable, Secure, and High-Speed Network Connectivity5.2.1.5 Increased Adoption of Cloud Computing Platforms5.2.2 Restraints5.2.2.1 Issues Related to Data Security and Privacy in IoT5.2.2.2 Absence of Standardization in IoT Protocols5.2.2.3 Integration with the Traditional Systems and the Lack of a Technically Skilled Workforce5.2.3 Opportunities5.2.3.1 Rising Number of Data Centers5.2.3.2 Emerging 5G Technology to Help IoT Adoption Globally5.2.3.3 Increase in Smart Manufacturing Initiatives Worldwide5.2.3.4 Rising Demand for IoT-Enabled Digital Transformation of Businesses5.2.3.5 Growing Demand for System Integrators5.2.4 Challenges5.2.4.1 Lack of Skilled Workforce for Operating IoT-based Equipment5.2.4.2 Huge Initial Investments Required for Implementing IoT in Smart Manufacturing5.2.4.3 Interoperability Issues of Legacy Infrastructure and Communication Networks5.3 Industry Trends5.3.1 Value Chain Analysis5.3.2 Ecosystem5.3.3 Porter's Five Forces Model5.3.4 Technology Analysis5.3.5 Patent Analysis5.3.6 Average Selling Price Analysis5.3.7 Use Case Analysis5.3.8 Key Conferences and Events in 2022-20235.4 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis5.4.1 Overview5.4.2 Drivers and Opportunities5.4.3 Restraints and Challenges5.4.4 Cumulative Growth Analysis

6 IoT in Manufacturing Market, by Component6.1 Introduction6.2 Solutions6.2.1 Solutions: Market Drivers6.2.2 Solutions: COVID-19 Impact6.3 Services6.3.1 Services: Market Drivers6.3.2 Services: COVID-19 Impact

7 IoT in Manufacturing Market, by Solution7.1 Introduction7.2 Network Management7.2.1 Network Management: Market Drivers7.2.2 Network Bandwidth Management7.2.3 Network Security Management7.2.4 Network Performance Monitoring and Management7.2.5 Network Configuration Management7.3 Data Management7.3.1 Data Management: Market Drivers7.3.2 Data Integration7.3.3 Data Security7.3.4 Data Migration7.3.5 Data Analytics and Visualization7.3.6 Metadata Management7.3.7 Data Governance7.3.8 Data Orchestration7.4 Device Management7.4.1 Device Management: Market Drivers7.4.2 Device Provisioning and Authentication7.4.3 Device Configuration Management7.4.4 Monitoring and Troubleshooting7.5 Application Management7.5.1 Application Management: IoT in Manufacturing Market Drivers7.6 Smart Surveillance7.6.1 Smart Surveillance: Market Drivers7.6.2 Central Monitoring System7.6.3 Video Analytics and Events

8 IoT in Manufacturing Market, by Service8.1 Introduction8.2 Managed Services8.2.1 Managed Services: Market Drivers8.2.2 Infrastructure Management Services8.2.2.1 Infrastructure Management Services: Market Drivers8.2.3 Security Management Services8.2.3.1 Security Management Services: Market Drivers8.2.4 Network Management Services8.2.4.1 Network Management Services: Market Drivers8.2.5 Data Management Services8.2.5.1 Data Management Services: Market Drivers8.2.6 Device Management Services8.2.6.1 Device Management Services: IoT in Manufacturing Market Drivers8.3 Professional Services8.3.1 Professional Services: Market Drivers8.3.2 IoT Consulting Services8.3.2.1 IoT Consulting Services: IoT in Manufacturing Market Drivers8.3.2.2 Technology Consulting Services8.3.2.3 Business Consulting Services8.3.2.4 Operational Consulting Services8.3.3 IoT Infrastructure Services8.3.3.1 IoT Infrastructure Services: IoT in Manufacturing Market Drivers8.3.3.2 Network Services8.3.3.3 Deployment Services8.3.3.4 Cloud Services8.3.4 System Designing and Integration Services8.3.4.1 System Designing and Integration Services: IoT in Manufacturing Market Drivers8.3.4.2 Platform Development and Integration Services8.3.4.3 Mobile and Web Application Development Services8.3.5 Support and Maintenance Services8.3.5.1 Support and Maintenance Services: IoT in Manufacturing Market Drivers8.3.6 Education and Training Services8.3.6.1 Education and Training Services: Market Drivers

9 IoT in Manufacturing Market, by Deployment Mode9.1 Introduction9.2 On-Premises9.2.1 On-Premises: Market Drivers9.2.2 On-Premises: COVID-19 Impact9.3 Cloud9.3.1 Cloud: Market Drivers9.3.2 Cloud: COVID-19 Impact

10 IoT in Manufacturing Market, by Organization Size10.1 Introduction10.2 Large Enterprises10.3 Small and Medium-Sized Enterprises

11 IoT in Manufacturing Market, by Application11.1 Introduction11.2 Predictive Maintenance11.3 Business Process Optimization11.4 Asset Tracking and Management11.5 Logistics and Supply Chain Management11.6 Real-Time Workforce Tracking and Management11.7 Automation Control and Management11.8 Emergency and Incident Management, and Business Communication

12 IoT in Manufacturing Market, by Verticals12.1 Introduction12.1.1 Verticals: COVID-19 Impact12.2 Process Manufacturing12.2.1 Process Manufacturing: Market Drivers12.2.2 Process Manufacturing: COVID-19 Impact12.2.3 Energy and Utilities12.2.4 Chemicals and Materials12.2.5 Food and Beverage12.2.6 Water and Waste Management12.2.7 Other Verticals12.3 Discrete Manufacturing

13 IoT in Manufacturing Market, by Region

14 Competitive Landscape

15 Company Profiles15.1 Key Vendors15.1.1 Cisco15.1.2 IBM15.1.3 PTC15.1.4 Microsoft15.1.5 Siemens15.1.6 GE15.1.7 SAP15.1.8 Huawei15.1.9 Atos15.1.10 HCL15.1.11 Intel15.1.12 Oracle15.1.13 Schneider Electric15.1.14 Zebra Technologies15.1.15 Software AG15.1.16 Wind River15.1.17 Samsara15.2 SME/Startup Players15.2.1 Telit15.2.2 ScienceSoft15.2.3 Impinj15.2.4 Bosch.IO15.2.5 Litmus Automation15.2.6 Uptake15.2.7 Mocana15.2.8 HQSoftware15.2.9 FogHorn15.2.10 ClearBlade

16 Adjacent/Related Market

17 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/r4okhs

Attachment

• Global IoT in Manufacturing Market