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IoT in Manufacturing Market by Component and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030

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    Report

  • 205 Pages
  • February 2022
  • Region: Global
  • Allied Market Research
  • ID: 5578337
Description Jump to:
Internet of Things (IoT) is a network of interconnected devices, which communicates and transfers data with the help of embedded sensors. IoT in manufacturing provides various applications such as predictive maintenance, asset performance management, supply chain management, quality management, and cognitive process & operations management. IBM Corporation, PTC Inc., and Zebra Technologies are some of the key players operating in the IoT in manufacturing market.

Advancements in technologies such as smart sensors and virtual & augmented reality as well as low operational cost boost the growth of the global IoT in manufacturing market. In addition, rise in demand for real-time asset monitoring positively impacts the growth of the market. However, inadequate IT infrastructure is hampering the market growth. On the contrary, introduction to connected operational intelligence and surge in adoption of cloud-based deployment model are expected to offer remunerative opportunities for expansion of the market during the forecast period.

The global IoT in manufacturing market is segmented into component, application, and region. On the basis of component, the market is divided into software and services. Depending on application, it is classified into predictive maintenance, asset performance management, quality management, cognitive process & operations management, supply chain management, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global IoT in manufacturing market is dominated by key players such as Cisco Systems Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Software AG, Texas Instruments, and Zebra Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The study provides an in-depth analysis of the global IoT in manufacturing market forecast along with the current & future trends to explain the imminent investment pockets
  • Information about key drivers, restraints, & opportunities and their impact analysis on global IoT in manufacturing market trends is provided in the report
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry
  • The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential

Key Market Segments


By Component

  • Software
  • Services

By Application

  • Predictive Maintenance
  • Asset Performance Management
  • Quality Management
  • Cognitive Process & Operations Management
  • Supply Chain Management
  • Others

By Region

  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

KEY MARKET PLAYERS

  • Cisco Systems Inc
  • Hitachi Ltd
  • IBM Corporation
  • Microsoft Corporation
  • PTC Inc
  • Robert Bosch GmbH
  • SAP SE
  • Software AG
  • Texas Instruments
  • Zebra Technologies

Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Cxo Perspective
Chapter 3: Market Landscape
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power of Suppliers
3.3.2. Threat of New Entrants
3.3.3. Threat of Substitutes
3.3.4. Competitive Rivalry
3.3.5. Bargaining Power Among Buyers
3.4. Market Share Analysis/Top Player Positioning
3.4.1. Market Share Analysis/Top Player Positioning 2020
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. Covid-19 Impact Analysis
3.7. Patent Landscape
3.8. Competitive Heatmap
3.9. Regulatory Guidelines
Chapter 4: IoT in Manufacturing Market, by Component
4.1. Market Overview
4.1.1Market Size and Forecast, by Component
4.2. Software
4.2.1. Key Market Trends, Growth Factors and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Share Analysis, by Country
4.3. Service
4.3.1. Key Market Trends, Growth Factors and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Share Analysis, by Country
Chapter 5: IoT in Manufacturing Market, by Application
5.1. Market Overview
5.1.1Market Size and Forecast, by Application
5.2. Predictive Maintenance
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Size and Forecast, by Region
5.2.3. Market Share Analysis, by Country
5.3. Asset Performance Management
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Size and Forecast, by Region
5.3.3. Market Share Analysis, by Country
5.4. Quality Management
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Size and Forecast, by Region
5.4.3. Market Share Analysis, by Country
5.5. Cognitive Process and Operations Management
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Size and Forecast, by Region
5.5.3. Market Share Analysis, by Country
5.6. Supply Chain Management
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Size and Forecast, by Region
5.6.3. Market Share Analysis, by Country
5.7. Others
5.7.1. Key Market Trends, Growth Factors and Opportunities
5.7.2. Market Size and Forecast, by Region
5.7.3. Market Share Analysis, by Country
Chapter 6: IoT in Manufacturing Market, by Region
6.1. Market Overview
6.1.1Market Size and Forecast, by Region
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. Market Size and Forecast, by Component
6.2.3. Market Size and Forecast, by Application
6.2.4. Market Size and Forecast, by Country
6.2.5. United States IoT in Manufacturing Market
6.2.5.1. Market Size and Forecast, by Component
6.2.5.2. Market Size and Forecast, by Application
6.2.6. Canada IoT in Manufacturing Market
6.2.6.1. Market Size and Forecast, by Component
6.2.6.2. Market Size and Forecast, by Application
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Market Size and Forecast, by Component
6.3.3. Market Size and Forecast, by Application
6.3.4. Market Size and Forecast, by Country
6.3.5. France IoT in Manufacturing Market
6.3.5.1. Market Size and Forecast, by Component
6.3.5.2. Market Size and Forecast, by Application
6.3.6. Germany IoT in Manufacturing Market
6.3.6.1. Market Size and Forecast, by Component
6.3.6.2. Market Size and Forecast, by Application
6.3.7. Italy IoT in Manufacturing Market
6.3.7.1. Market Size and Forecast, by Component
6.3.7.2. Market Size and Forecast, by Application
6.3.8. U. K IoT in Manufacturing Market
6.3.8.1. Market Size and Forecast, by Component
6.3.8.2. Market Size and Forecast, by Application
6.3.9. Rest of Europe IoT in Manufacturing Market
6.3.9.1. Market Size and Forecast, by Component
6.3.9.2. Market Size and Forecast, by Application
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Market Size and Forecast, by Component
6.4.3. Market Size and Forecast, by Application
6.4.4. Market Size and Forecast, by Country
6.4.5. China IoT in Manufacturing Market
6.4.5.1. Market Size and Forecast, by Component
6.4.5.2. Market Size and Forecast, by Application
6.4.6. Japan IoT in Manufacturing Market
6.4.6.1. Market Size and Forecast, by Component
6.4.6.2. Market Size and Forecast, by Application
6.4.7. India IoT in Manufacturing Market
6.4.7.1. Market Size and Forecast, by Component
6.4.7.2. Market Size and Forecast, by Application
6.4.8. South Korea IoT in Manufacturing Market
6.4.8.1. Market Size and Forecast, by Component
6.4.8.2. Market Size and Forecast, by Application
6.4.9. Australia IoT in Manufacturing Market
6.4.9.1. Market Size and Forecast, by Component
6.4.9.2. Market Size and Forecast, by Application
6.4.10. Rest of Asia-Pacific IoT in Manufacturing Market
6.4.10.1. Market Size and Forecast, by Component
6.4.10.2. Market Size and Forecast, by Application
6.5. Lamea
6.5.1. Key Market Trends and Opportunities
6.5.2. Market Size and Forecast, by Component
6.5.3. Market Size and Forecast, by Application
6.5.4. Market Size and Forecast, by Country
6.5.5. Latin America IoT in Manufacturing Market
6.5.5.1. Market Size and Forecast, by Component
6.5.5.2. Market Size and Forecast, by Application
6.5.6. Middle East IoT in Manufacturing Market
6.5.6.1. Market Size and Forecast, by Component
6.5.6.2. Market Size and Forecast, by Application
6.5.7. Africa IoT in Manufacturing Market
6.5.7.1. Market Size and Forecast, by Component
6.5.7.2. Market Size and Forecast, by Application
Chapter 7: Company Profiles
7.1. Cisco System Inc.
7.1.1. Company Overview
7.1.2. Key Executives
7.1.3. Company Snapshot
7.1.4. Operating Business Segments
7.1.5. Product Portfolio
7.1.6. Business Performance
7.1.7. Key Strategic Moves and Developments
7.2. Hitachi, Ltd.
7.2.1. Company Overview
7.2.2. Key Executives
7.2.3. Company Snapshot
7.2.4. Operating Business Segments
7.2.5. Product Portfolio
7.2.6. Business Performance
7.2.7. Key Strategic Moves and Developments
7.3. Ibm Corporation
7.3.1. Company Overview
7.3.2. Key Executives
7.3.3. Company Snapshot
7.3.4. Operating Business Segments
7.3.5. Product Portfolio
7.3.6. Business Performance
7.3.7. Key Strategic Moves and Developments
7.4. Microsoft Corporation
7.4.1. Company Overview
7.4.2. Key Executives
7.4.3. Company Snapshot
7.4.4. Operating Business Segments
7.4.5. Product Portfolio
7.4.6. Business Performance
7.4.7. Key Strategic Moves and Developments
7.5. Ptc Inc.
7.5.1. Company Overview
7.5.2. Key Executives
7.5.3. Company Snapshot
7.5.4. Operating Business Segments
7.5.5. Product Portfolio
7.5.6. Business Performance
7.5.7. Key Strategic Moves and Developments
7.6. Robert Bosch GmbH
7.6.1. Company Overview
7.6.2. Key Executives
7.6.3. Company Snapshot
7.6.4. Operating Business Segments
7.6.5. Product Portfolio
7.6.6. Business Performance
7.6.7. Key Strategic Moves and Developments
7.7. Sap Se
7.7.1. Company Overview
7.7.2. Key Executives
7.7.3. Company Snapshot
7.7.4. Operating Business Segments
7.7.5. Product Portfolio
7.7.6. Business Performance
7.7.7. Key Strategic Moves and Developments
7.8. Software AG
7.8.1. Company Overview
7.8.2. Key Executives
7.8.3. Company Snapshot
7.8.4. Operating Business Segments
7.8.5. Product Portfolio
7.8.6. Business Performance
7.8.7. Key Strategic Moves and Developments
7.9. Texas Instruments Incorporated
7.9.1. Company Overview
7.9.2. Key Executives
7.9.3. Company Snapshot
7.9.4. Operating Business Segments
7.9.5. Product Portfolio
7.9.6. Business Performance
7.9.7. Key Strategic Moves and Developments
7.10. Zebra Technologies Corp.
7.10.1. Company Overview
7.10.2. Key Executives
7.10.3. Company Snapshot
7.10.4. Operating Business Segments
7.10.5. Product Portfolio
7.10.6. Business Performance
7.10.7. Key Strategic Moves and Developments
List of Tables
Table 1. Global IoT in Manufacturing Market, by Component, 2020-2030 ($Million)
Table 2. Global IoT in Manufacturing Market for Software, by Region, 2020-2030 ($Million)
Table 3. Global IoT in Manufacturing Market for Service, by Region, 2020-2030 ($Million)
Table 4. Global IoT in Manufacturing Market, by Application, 2020-2030 ($Million)
Table 5. Global IoT in Manufacturing Market for Predictive Maintenance, by Region, 2020-2030 ($Million)
Table 6. Global IoT in Manufacturing Market for Asset Performance Management, by Region, 2020-2030 ($Million)
Table 7. Global IoT in Manufacturing Market for Quality Management, by Region, 2020-2030 ($Million)
Table 8. Global IoT in Manufacturing Market for Cognitive Process and Operations Management, by Region, 2020-2030 ($Million)
Table 9. Global IoT in Manufacturing Market for Supply Chain Management, by Region, 2020-2030 ($Million)
Table 10. Global IoT in Manufacturing Market for Others, by Region, 2020-2030 ($Million)
Table 11. Global IoT in Manufacturing Market, by Region, 2020-2030 ($Million)
Table 12. North America IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 13. North America IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 14. United States IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 15. United States IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 16. Canada IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 17. Canada IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 18. Europe IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 19. Europe IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 20. France IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 21. France IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 22. Germany IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 23. Germany IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 24. Italy IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 25. Italy IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 26. United Kingdom IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 27. United Kingdom IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 28. Rest of Europe IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 29. Rest of Europe IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 30. Asia-Pacific IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 31. Asia-Pacific IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 32. China IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 33. China IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 34. Japan IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 35. Japan IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 36. India IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 37. India IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 38. South Korea IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 39. South Korea IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 40. Australia IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 41. Australia IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 42. Rest of Asia-Pacific IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 43. Rest of Asia-Pacific IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 44. Lamea IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 45. Lamea IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 46. Latin America IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 47. Latin America IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 48. Middle East IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 49. Middle East IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 50. Africa IoT in Manufacturing, by Component, 2020-2030 ($Million)
Table 51. Africa IoT in Manufacturing, by Application, 2020-2030 ($Million)
Table 52. Cisco System Inc. : Key Executives
Table 53. Cisco System Inc. : Company Snapshot
Table 54. Cisco System Inc. : Operating Segments
Table 55. Cisco System Inc. : Product Portfolio
Table 56. Cisco System Inc. : Key Strategic Moves and Developments
Table 57. Hitachi, Ltd. : Key Executives
Table 58. Hitachi, Ltd. : Company Snapshot
Table 59. Hitachi, Ltd. : Operating Segments
Table 60. Hitachi, Ltd. : Product Portfolio
Table 61. Hitachi, Ltd. : Key Strategic Moves and Developments
Table 62. Ibm Corporation: Key Executives
Table 63. Ibm Corporation: Company Snapshot
Table 64. Ibm Corporation: Operating Segments
Table 65. Ibm Corporation: Product Portfolio
Table 66. Ibm Corporation: Key Strategic Moves and Developments
Table 67. Microsoft Corporation: Key Executives
Table 68. Microsoft Corporation: Company Snapshot
Table 69. Microsoft Corporation: Operating Segments
Table 70. Microsoft Corporation: Product Portfolio
Table 71. Microsoft Corporation: Key Strategic Moves and Developments
Table 72. Ptc Inc. : Key Executives
Table 73. Ptc Inc. : Company Snapshot
Table 74. Ptc Inc. : Operating Segments
Table 75. Ptc Inc. : Product Portfolio
Table 76. Ptc Inc. : Key Strategic Moves and Developments
Table 77. Robert Bosch Gmbh: Key Executives
Table 78. Robert Bosch Gmbh: Company Snapshot
Table 79. Robert Bosch Gmbh: Operating Segments
Table 80. Robert Bosch Gmbh: Product Portfolio
Table 81. Robert Bosch Gmbh: Key Strategic Moves and Developments
Table 82. Sap Se: Key Executives
Table 83. Sap Se: Company Snapshot
Table 84. Sap Se: Operating Segments
Table 85. Sap Se: Product Portfolio
Table 86. Sap Se: Key Strategic Moves and Developments
Table 87. Software Ag: Key Executives
Table 88. Software Ag: Company Snapshot
Table 89. Software Ag: Operating Segments
Table 90. Software Ag: Product Portfolio
Table 91. Software Ag: Key Strategic Moves and Developments
Table 92. Texas Instruments Incorporated: Key Executives
Table 93. Texas Instruments Incorporated: Company Snapshot
Table 94. Texas Instruments Incorporated: Operating Segments
Table 95. Texas Instruments Incorporated: Product Portfolio
Table 96. Texas Instruments Incorporated: Key Strategic Moves and Developments
Table 97. Zebra Technologies Corp. : Key Executives
Table 98. Zebra Technologies Corp. : Company Snapshot
Table 99. Zebra Technologies Corp. : Operating Segments
Table 100. Zebra Technologies Corp. : Product Portfolio
Table 101. Zebra Technologies Corp. : Key Strategic Moves and Developments
List of Figures
Figure 1. Global IoT in Manufacturing Market Segmentation
Figure 2. Global IoT in Manufacturing Market
Figure 3. Segmentation IoT in Manufacturing Market
Figure 4. Top Investment Pocket in IoT in Manufacturing Market
Figure 5. Top Winning Strategies, 2019-2021*
Figure 6. Top Winning Strategies, by Development, 2019-2021(%)
Figure 7. Top Winning Strategies, by Company, 2019-2021*
Figure 8. Moderate Bargaining Power of Buyers
Figure 9. Moderate Bargaining Power of Suppliers
Figure 10. Moderate Threat of New Entrants
Figure 11. Low Threat of Substitution
Figure 12. High Competitive Rivalry
Figure 13. Top Player Positioning, 2020
Figure 14. Market Share Analysis, 2020
Figure 15. Restraints and Drivers: IoT in Manufacturing Market
Figure 16. Iot in Manufacturing Market Segmentation, by Component
Figure 17. Iot in Manufacturing Market for Software, by Country, 2020-2030 ($ Million)
Figure 18. Iot in Manufacturing Market for Service, by Country, 2020-2030 ($ Million)
Figure 19. Iot in Manufacturing Market Segmentation, by Application
Figure 20. Iot in Manufacturing Market for Predictive Maintenance, by Country, 2020-2030 ($ Million)
Figure 21. Iot in Manufacturing Market for Asset Performance Management, by Country, 2020-2030 ($ Million)
Figure 22. Iot in Manufacturing Market for Quality Management, by Country, 2020-2030 ($ Million)
Figure 23. Iot in Manufacturing Market for Cognitive Process and Operations Management, by Country, 2020-2030 ($ Million)
Figure 24. Iot in Manufacturing Market for Supply Chain Management, by Country, 2020-2030 ($ Million)
Figure 25. Iot in Manufacturing Market for Others, by Country, 2020-2030 ($ Million)
Figure 26. Cisco System Inc: Net Sales, 2018-2020 ($ Million)
Figure 27. Cisco System Inc: Revenue Share, by Segment, 2020 (%)
Figure 28. Cisco System Inc: Revenue Share, by Region, 2020 (%)
Figure 29. Hitachi, Ltd: Net Sales, 2018-2020 ($ Million)
Figure 30. Hitachi, Ltd: Revenue Share, by Segment, 2020 (%)
Figure 31. Hitachi, Ltd: Revenue Share, by Region, 2020 (%)
Figure 32. Ibm Corporation: Net Sales, 2018-2020 ($ Million)
Figure 33. Ibm Corporation: Revenue Share, by Segment, 2020 (%)
Figure 34. Ibm Corporation: Revenue Share, by Region, 2020 (%)
Figure 35. Microsoft Corporation: Net Sales, 2018-2020 ($ Million)
Figure 36. Microsoft Corporation: Revenue Share, by Segment, 2020 (%)
Figure 37. Microsoft Corporation: Revenue Share, by Region, 2020 (%)
Figure 38. Ptc Inc: Net Sales, 2018-2020 ($ Million)
Figure 39. Ptc Inc: Revenue Share, by Segment, 2020 (%)
Figure 40. Ptc Inc: Revenue Share, by Region, 2020 (%)
Figure 41. Robert Bosch Gmbh: Net Sales, 2018-2020 ($ Million)
Figure 42. Robert Bosch Gmbh: Revenue Share, by Segment, 2020 (%)
Figure 43. Robert Bosch Gmbh: Revenue Share, by Region, 2020 (%)
Figure 44. Sap Se: Net Sales, 2018-2020 ($ Million)
Figure 45. Sap Se: Revenue Share, by Segment, 2020 (%)
Figure 46. Sap Se: Revenue Share, by Region, 2020 (%)
Figure 47. Software Ag: Net Sales, 2018-2020 ($ Million)
Figure 48. Software Ag: Revenue Share, by Segment, 2020 (%)
Figure 49. Software Ag: Revenue Share, by Region, 2020 (%)
Figure 50. Texas Instruments Incorporated: Net Sales, 2018-2020 ($ Million)
Figure 51. Texas Instruments Incorporated: Revenue Share, by Segment, 2020 (%)
Figure 52. Texas Instruments Incorporated: Revenue Share, by Region, 2020 (%)
Figure 53. Zebra Technologies Corp: Net Sales, 2018-2020 ($ Million)
Figure 54. Zebra Technologies Corp: Revenue Share, by Segment, 2020 (%)
Figure 55. Zebra Technologies Corp: Revenue Share, by Region, 2020 (%)

Executive Summary

According to a recent report titled, “IoT in Manufacturing Market by Component, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global IoT in manufacturing market size was valued at $198.25 billion in 2020, and is projected to reach $1,495.65 billion by 2030, growing at a CAGR of 22.6% from 2021 to 2030.

Internet of Things (IoT) in manufacturing provides various software and services that enable manufacturing companies to provide IoT-based solutions such as predictive maintenance, supply chain management, and quality management. Furthermore, introduction to connected operational intelligence and real-time asset monitoring assists manufacturers to boost the manufacturing process. The key factor that drives the growth of the IoT in manufacturing market includes advancements in technologies such as smart sensors and virtual & augmented reality as well as low operational cost. In addition, rise in demand for real-time asset monitoring positively impacts the growth of the market. However, inadequate IT infrastructure is hampering the market growth. On the contrary, introduction to connected operational intelligence and surge in adoption of cloud-based deployment model are expected to offer remunerative opportunities for the growth of the IoT in manufacturing market forecast.

On the basis of component, the software segment dominated the overall IoT in manufacturing market in 2020, and is expected to continue this trend during the forecast period. This is attributed to increase in adoption of IoT in manufacturing among enterprises to gain strategic as well as competitive advantage over their competitors. In addition, it helps them to make quick & informed decisions through the analysis of the business data, which drives the growth of the market. However, the services segment is expected to witness highest growth, as these services ensure effective functioning of software throughout the process. The adoption of these services speeds up software implementation, maximizes the value of existing installation by optimizing it, and minimizes the deployment cot & risks, which further fuel the growth of the market.

Region wise, the IoT in manufacturing industry was dominated by North America in 2020, and is expected to retain its position during the forecast period, owing to factors such as major shift toward digital transformation, rise in cloud deployment among small & medium businesses, and ongoing modernization of manufacturing drive heavy investment in IoT in manufacturing market size in U.S. and Canada. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to strong economic growth along with ongoing development in the services sector, which drives business enterprises to invest heavily in IoT in manufacturing to sustain growth and improve productivity.

The COVID-19 outbreak positively impacts the growth of the market, and is expected to grow in the forecasted period. This is attributed to significant investment in advanced technologies such as cloud technology, big data, artificial intelligence, and machine learning, due to rise in adoption of cloud-based software by various manufacturing companies across the globe. In addition, businesses and governments are seeking for cost-effective solutions to boost their productivity to attract consumers toward cloud-based solution and to increase their financial benefits. Furthermore, increase in efforts of governments along with rise in investments in smart city projects by a number of developing economies is expected to provide lucrative opportunities for the expansion of the global market, as the use of business analytics is increasing in smart cities majorly to support real-time operational control; improve decision-making; increase service quality as well as efficiency; and improve engagement of government with businesses, citizens, and other stakeholders. Furthermore, rise in incidence of natural calamities is bolstering the demand for IoT technologies in developing and developed countries.

Key Findings Of The Study


  • By component, the software segment accounted for the largest IoT in manufacturing market share in 2020
  • Region wise, North America generated highest revenue in 2020
  • On the basis of application, the predictive maintenance generated the highest revenue in 2020
  • The key players profiled in the IoT in manufacturing market analysis are Cisco Systems Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Software AG, Texas Instruments, and Zebra Technologies These players have adopted various strategies to increase their market penetration and strengthen their position in the IoT in manufacturing industry

Companies Mentioned

  • Cisco Systems Inc.
  • Hitachi Ltd.
  • IBM Corporation
  • Microsoft Corporation, PTC Inc.
  • Robert Bosch GmbH
  • SAP SE
  • Software AG
  • Texas Instruments
  • Zebra Technologies.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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