Internet of Things (IoT) is a network of interconnected devices that enable communication and transfer of data by use of embedded sensors. IoT in manufacturing provides various applications such as real-time asset monitoring, connected operational intelligence, and fleet management, which is expected to rapidly build connected applications across manufacturing companies.
Technological progression such as smart sensors, cloud computing, and virtual reality & augmented reality drives the global IoT in manufacturing market. Further, rise in demand for real-time asset monitoring, facility management, and better packaging and shipping preparation help the key players to offer enhanced IoT services in manufacturing sector. However, inadequate IT infrastructure and lack of awareness among small & medium enterprises (SMEs) about the benefits of IoT implementation are expected to hinder the IoT in manufacturing market growth. Introduction to cloud-based services and demand for remote equipment management are expected to provide numerous growth opportunities during forecast period to the IoT in manufacturing market.
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The global IoT in manufacturing market is segmented on the basis of component, application, and geography. On the basis of component, it is bifurcated into software and services. Based on application, it is categorized into predictive maintenance, asset performance management, quality management, cognitive process & operations management, supply chain management, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
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KEY BENEFITS FOR STAKEHOLDERS
Qualitative and quantitative analyses of the global IoT in manufacturing market are performed to understand current market scenario.
The report includes in-depth analysis of the market, outlining the possible drivers, restraints, and opportunities.
It highlights the top investment pockets, key impacting factors, and wining strategies for the IoT in manufacturing market.
Key players are identified with their market strategies such as product launch, merger & acquisition, partnerships, and others.
KEY PLAYERS
Cisco Systems Inc.
Hitachi Ltd.
IBM Corporation
Microsoft Corporation
PTC Inc.
Robert Bosch GmbH
SAP SE
Software AG
Texas Instruments
Zebra Technologies
KEY MARKET SEGMENTS
BY COMPONENT
Software
Services
BY APPLICATION
Predictive Maintenance
Asset Performance Management
Quality Management
Cognitive Process & Operations Management
Supply Chain Management
Others
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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