DUBLIN--(BUSINESS WIRE)--The "Global IoT in Manufacturing Market- Market Share and Industry Forecast to 2024" report has been added to ResearchAndMarkets.com's offering
The global IoT in manufacturing market is expected to have an impressive CAGR of 29.4% during the forecast period 2017-2024.
The global IoT in manufacturing market is mainly driven by rising adoption of the cloud environment and rise in the number of cost-effective, intelligent connected devices. However, data security and privacy concerns acts as major restraining factor for the global IoT in manufacturing market.
Geographically, North America holds the largest market share in IoT in manufacturing market owing to the deployment of advanced IoT technologies such as Industry 4.0, augmented reality and virtual reality. Moreover, North America leads the global IoT in manufacturing market due to the increasing digitization in manufacturing by large organizations and growing number of SMEs which positively influence the market growth of the IoT in manufacturing market in this region.
Furthermore, Asia Pacific is estimated to rise at the highest growth rate owing to the rising adoption of advanced and dynamic technologies and government investment in the R&D of IoT in manufacturing solutions and services.
The global IoT in manufacturing market is segmented on the basis of solution, platform, service, application and vertical. The solution segment of IoT in manufacturing includes application management, device management, network management, data management, and smart surveillance. Based on service segment the market is classified into managed and professional services of which managed services dominated the market as managed services play an important role in the deployment of IoT in manufacturing solutions as per the client's requirement.
Based on vertical segment the market is classified into high-tech products, energy and utilities, healthcare, automotive, aerospace and defense, food and beverages, chemicals and material, and others, out of which energy and utilities is expected to grow at the highest CAGR since IoT is extensively used in energy and utilities to implement the IoT-based technology solutions and related services in the mining and oil & gas sectors.
The growth in global IoT in manufacturing market is also impacted by the presence of major players such as IBM (United States), Microsoft (United States), General Electric (United States), SAP (Germany), Zebra Technologies (United States), Siemens AG (Germany), Bosch (Germany), Schneider Electric (France) and PTC (United States).
Major players are also adopting some of the crucial strategies such as mergers & acquisitions, product launches, etc. to sustain in the market. For instance, in 2016, IBM has agreed upon a partnership with Schaeffler to escalate the digital transformation of its entire operations along with the customer solutions through its Watson's cognitive intelligence and Insight.
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Global IoT In Manufacturing Market By Solution
5. Global IoT In Manufacturing Market By Platform
6. Global IoT In Manufacturing Market By Appication
7. Global IoT In Manufacturing Market By Vertical
8. Competitive Landscape
9. Geographic Analysis
10. Company Profiles
- Bosch (Germany)
- Cisco Systems (U.S.)
- CSC (U.S.)
- General Electric (U.S.)
- Hitachi Data Systems (U.S.)
- Huawei (China)
- IBM (U.S.)
- Microsoft (U.S.)
- PTC (U.S.)
- SAP (Germany)
- Schneider Electric (France)
- Siemens (Germany)
- Verizon (U.S.)
- Wind River (U.S.)
For more information about this report visit https://www.researchandmarkets.com/research/m2t8sj/global_iot_in?w=4