DUBLIN--(BUSINESS WIRE)--The "Global Internet of Things (IoT) Market in Manufacturing - Segmented by Software, Connectivity, Services, Application and Region - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global Internet of Things (IoT) market in manufacturing was valued at USD 165.27 billion in 2017, and is expected to reach USD 350.51 by 2023, witnessing a CAGR of 13.15% during the forecast period. The scope of the report includes the spending on IoT hardware, software, and services, by the manufacturing industry.
Driving the Market
- Proliferation of Smart Devices and Sensors in Plants is driving the Growth of the Market
- Advent of Predictive Maintenance
Restraining the Market
- Data Security and Privacy issues related to Cloud Storage
There has been a substantial change in the supply chain, with the adoption of mobile devices and sensors which include RFID and GPS, to track inventory and assets in warehouses. By 2018, it is expected that manufacturers will explore the importance of micro-logistics networks, in order to accelerate the delivery of selected products to customers.
Improved inventory management due to the availability of real-time visibility of items and the ability to track and keep a count of inventory, is a very important outcome of the implementation of IoT in manufacturing industries. The collection of manufacturing information, expiry date, manufacturing date, after sales status, and warranty period, using tracking devices like RFID tags, will improve efficiency in supply chain monitoring in the manufacturing process. Access to real-time data analysis results is expected to help manufacturers deal with a problem before it occurs and will significantly help reduce the inventory costs.
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Technology Snapshot
6. Global Internet of Things in Manufacturing Market - Segmentation
7. Competitive Intelligence - Company Profiles
- Cisco Systems Inc.
- General Electric
- Intel Corporation
- IBM Corporation
- Verizon Communication Inc.
- AT&T Inc.
- Siemens AG
- Hitachi Data Systems
- Microsoft Corporation
- SAP SE
- Zebra Technologies
- Bosch Software Innovations
8. Outlook of the Global Internet of Things in Manufacturing Market
For more information about this report visit https://www.researchandmarkets.com/research/kpv5zw/global_internet?w=4