The global IoT connected machines market is expected to grow in the forecast period of between 2025 and 2034 at a CAGR of 15.20%, driven by the rise in adoption rate of IoT connected machines by several industries.
Automotives are expected to be another significant application of IoT connected machines in the coming years, as such machines are implemented in automotive manufacturing as well as post-sale usage. IoT connected machines can help improve the safety and security of automotives, reducing the chance for human error.
Meanwhile, Europe is expected to propel the market growth of IoT connected machines on account of the growing initiatives of projects associated with smart cities such as Vienna, Amsterdam, Helsinki, London, and Barcelona among others. In London, the United Kingdom government launched a new smart city strategy called London 2.0 focusing on improved digital inclusion based on IoT technology. This is further expected to push forward the market growth of IoT connected machines.
Other market players include B&R Industrial Automation GmbH, General Electric Company, IBM Corporation, and Cisco Systems, Inc., among others.
Key Trends in the Market
IoT connected machines is a technology employed to manage and connect physical machines, and devices, among other equipment employing the Internet of Things (IoT). It helps different organisations and end-users control, optimise, and monitor equipment and machines in an integrated manner. Businesses collect data from such devices or machines to obtain insights into their operations and improve the performance by connecting equipment and machines to the internet.- The increasing usage IoT connected machines in product flow monitoring, factory digitalisation, and logistic and inventory management among others, are driving the IoT connected machines market growth, facilitating rising transformation in the manufacturing industry.
- With the surging adoption of 5G technology in several industries and the increasing inclination for cloud computing solution, the market demand for IoT connected machines is expected to fuel the over the coming time frame.
- The growing government initiative toward creating smart cities in various regions using IoT technology is a key trend likely to boost market growth of IoT connected machines across the globe. With IoT connected machines, management and operations of smart cities can be improved and simplified.
Market Segmentation
The report titled “IoT Connected Machines Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Type
- Hardware
- Software
- Service
Market Breakup by Application
- Aviation
- Oil and Gas
- Automotive
- Power Generation and Utility
- Transportation
- Manufacturing
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share by Application
Manufacturing applications are witnessing robust growth in the IoT connected machines market share across the globe as business leaders are implementing new waves of technological transformation with industry 4.0. IoT connected machines help in managing and monitoring production lines and factories remotely which further aids enterprises to improve their operations along with better product quality. The surging inclination of cloud computing solutions in manufacturing applications is likely to fuel the segment growth in the market share of IoT connected machines.Automotives are expected to be another significant application of IoT connected machines in the coming years, as such machines are implemented in automotive manufacturing as well as post-sale usage. IoT connected machines can help improve the safety and security of automotives, reducing the chance for human error.
Market Share by Region
Geographically, the North American region is expected to augment the IoT connected machines market share as the region is considered the hub for the high adoption of innovative technology and advanced business models with supreme technologies. IoT connected machines are increasingly being used in power generation and utility, aviation, transportation, and automotive industries in the North America region.Meanwhile, Europe is expected to propel the market growth of IoT connected machines on account of the growing initiatives of projects associated with smart cities such as Vienna, Amsterdam, Helsinki, London, and Barcelona among others. In London, the United Kingdom government launched a new smart city strategy called London 2.0 focusing on improved digital inclusion based on IoT technology. This is further expected to push forward the market growth of IoT connected machines.
Competitive Landscape
The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IoT connected machines market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.Dell Technologies, Inc.
Dell Technologies, Inc. is a United States-based top tech company established in 1984. It focuses on the sales of network servers, personal computers, software, and data storage solutions. It is known as a leading technology company across the globe aiding to change the life of people and aiming to change the digital landscape globally.Schneider Electric SE
Schneider Electric SE was established in 1836 and is based in France. It is a multinational company that deals in energy management and digital automation. It caters to buildings, homes, infrastructures, industries, and data centres, offering real-time automation, services, software, and energy technologies. The company aims to inspire everyone to get the most out of their energy and resources, bridging progress and sustainability for everyone.ABB Ltd.
ABB Ltd. was founded in 1988 and is a leading technology company across the globe. It focuses on strengthening the transformation of society as well as industry to attain a more sustainable and productive future. The company pushes the limits of technology to enhance performance through its robotics, electrification, automation, and motion portfolios.Other market players include B&R Industrial Automation GmbH, General Electric Company, IBM Corporation, and Cisco Systems, Inc., among others.
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global IoT Connected Machines Market Analysis
6 North America IoT Connected Machines Market Analysis
7 Europe IoT Connected Machines Market Analysis
8 Asia Pacific IoT Connected Machines Market Analysis
9 Latin America IoT Connected Machines Market Analysis
10 Middle East and Africa IoT Connected Machines Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- Dell Technologies, Inc.
- Schneider Electric SE
- ABB Ltd.