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IoT in Manufacturing Market by Solution, Platform, Service, Application, Vertical Market And Region - Global Forecast to 2022

IoT: Manufacturing Market Forecast until 2022

  • January 2018
  • 181 pages
  • ID: 4660848
In this report:
In 2016, 2015, and 2014, Microsoft invested revenues of ##%, ##%, and ##%, respectively, in R&D. In 2017, Microsoft announced the launch of Azure IoT suite for connected factory preconfigured availability.
The market size of the automotive segment is expected to be USD ##,##.## million in 2017 and projected to reach USD ##,##.## million in 2022, at a CAGR of ##.##% during the forecast period.

Summary

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The IoT in manufacturing market is anticipated to rise at a Compound Annual Increase rate of 29.00 percent during the forecast period, due to the increasing need for centralized monitoring and predictive maintenance of manufacturing infrastructure, and growing adoption of the cloud.

The overall IoT in manufacturing market is forecasted to grow from ~$12.7B in 2017 to ~$45.3B by 2022, at a compound annual growth rate of 29.00 percent during the forecast period. Increasing need for centralized monitoring and predictive maintenance of manufacturing infrastructure, agile production, and operational efficiency, and rising adoption of the cloud are some of the drives of the overall IoT in manufacturing market.

Advent of latest communication technologies, and demand-driven supply chain and connected logistics are forecasted to further aid the IoT in manufacturing market rise. Lack of standards for interconnectivity and interoperability, and increasing concerns over data security and privacy may restrict the increase of the IoT in manufacturing market

The managed services segment is anticipated to grow at the highest CAGR (Compound annual growth rate) during the outlook period.

Managed services are being quickly adopted by developed countries, including the US and Canada (CA). Managed services play a huge role in the deployment of IoT in manufacturing solutions according to the client's requirements.

Managed services include all the pre- and post-deployment queries and needs of customers. These services may include planning, designing, testing, integrating, maintenance, and support.

These services are primarily outsourced for on-time delivery, and reduction of capital and operating expenditures. Managed service vendors connect people across all business functions and territories, and offer them with relevant information related to intelligent design, operations, and maintenance, as well as higher quality of service and safety

The energy and utilities vertical is anticipated to hold the biggest market share in the IoT in manufacturing market during the estimate period.

In the MEA and APAC regions, the energy and utilities vertical is anticipated to grow at the highest compound annual growth rate (CAGR). The IoT in energy and utilities is used to implement the IoT-based technology solutions and related services in the oil & gas and mining markets.

The solutions are primarily aimed at achieving convergence of machines and intelligent data to improve the operational efficiency targets being set by the energy firms. Energy firms can achieve profits, including improvised supply chain, enhanced asset monitoring and maintenance, and potential return on IoT investment implementing IoT across organizational processes. The implementation of IoT in manufacturing affords the global plant automation, process optimization, supply chain optimization, rised safety, integrated business processes, and corporate social responsibility

Asia Pacific (APAC) is expected to grow at the maximal rate during the outlook period.

The Asia-Pac market is anticipated to witness significant rise and is forecasted to be the fastest growing area in the IoT in manufacturing market. Asia-Pacific has witnessed the advanced and dynamic adoption of new technologies, and it has always been a lucrative market.

Governments in the Asia-Pacific regions are continuously investing in the R&D of IoT in manufacturing solutions and services. Expanding IT landscape is boosting the market increase in this area. Additionally, growth mandate for regulatory compliance and advent of data analytics, and processing and intelligent machine applications are some of the increase drivers of the IoT in manufacturing market.

In the process of finding out and checking the market size of different segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. The breakup of the profiles of the primary participants is like:

• By Organization: Tier 1 - 30 %, Tier 2 - 40.0 percent, and Tier 3 - 30.0 percent

• By Description: C-suite - 72.0 percent, D-level - 14.0 percent, and Others - 14.0 percent

• By Area: North America continent - 57.0 percent, Europe (EU) - 14.0 percent, Asia-Pac - 29.0 percent

The IoT in manufacturing market includes different vendors, including PTC, Cisco (NASDAQ:CSCO), General Electric (NYSE:GE), IBM (NYSE:IBM), SAP, Zebra Technologies, Siemens, Huawei, Microsoft, Bosch, Schneider Electric (SU), and Wind River.

Segment Research

The market research includes a detailed competitive analysis of the top players in the IoT in manufacturing market together with their company profile, recent evolutions, and key industries strategies. The document breaks down the IoT in manufacturing market by component (solution, platform, and services), application area, vertical market, and area.

Why Purchasing This Study Can Help You:

The IoT in manufacturing market has been split on the basis of component (solution, platform, and services), application area, vertical, and area.

The industry report will facilitate industry top players/new sector entrants in the IoT in manufacturing market in these ways:

1. The global IoT in manufacturing market revenue stream has been estimated based on the revenues of the vendors offering IoT in manufacturing solutions, platforms, and services.

It is inclusive of managed and professional services. Futhermore, professional services contain IoT consulting services, IoT infrastructure services, system designing and integration services, support and maintenance services and education and training services. The study offers the best approximations of the revenue data for the global market and its sub-segments. The sector is further split into localities.

2. The analysis will facilitate the partners distinguish the pulse of the sector and offer them information on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research will facilitate the partners comprehend their players and obtain additional insights to enhance their market position. The competitive outlook section includes the competitor ecosystem, new industry product developments, alliances, and mergers and acquisitions associated to the IoT in manufacturing market.

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