IoT in Manufacturing Market Size is Projected to Reach USD 1038.8 Million by 2026 at CAGR 10.6% | Valuates Reports - Seite 2

IoT maintains low operation costs in manufacturing by using predictive maintenance principles, increasing worker safety during training and repairs, and identifying and resolving bottlenecks. This, in turn, is expected to boost the growth of IoT in manufacturing market size. 

Furthermore, advancements in technologies such as smart sensors, virtual & augmented reality are expected to fuel IoT in Manufacturing market size. The introduction of smart sensors into industrial machinery has allowed manufacturers to reduce operating costs by 50% and is expected to decrease further during the forecast period. 

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IoT in MANUFACTURING MARKET SHARE ANALYSIS

North America is expected to hold the largest IoT in manufacturing market share during the forecast period. North America's dominance is attributed to the early adoption of trending technologies, such as IoT, big data, edge computing, and mobility by manufacturers in this region. The rising adoption of smart, safe, and connected technologies for asset-centric applications is expected to increase IoT in this region's Manufacturing market size. Furthermore, the emergence of small and medium-sized companies and the implementation of digitization in manufacturing are expected to drive business growth in North America.

Asia Pacific region is expected to witness the highest growth rate during the forecast period. This is due to the rise in ICT(Information and Communication Technology) expenditure in South Korea, Australia, Japan, and Singapore.

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IOT IN MANUFACTURING MARKET SEGMENTATION

IoT in Manufacturing Market segment by Type, the product can be split into

• Network Management
• Data Management
• Device Management
• Application Management

IoT in Manufacturing Market segment by Application, split into

• Industrial Equipment Manufacturing
• Electronic Products, Communications Equipment Manufacturing
• Chemical, Material Equipment Manufacturing
• Food, Agricultural Equipment Manufacturing
• Other

The key players covered in this study

• Ptc Incorporation
• Cisco Systems
• General Electric
• Ibm
• Sap Se
• Zebra Technologies
• Rockwell Automation
• Siemens
• Huawei
• Microsoft
• Bosch Software Innovations
• Others

"We can also add the other companies as you want"