According to a new market research report published by Global Insight Services “IoT in Manufacturing Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
IoT in Manufacturing refers to the use of Internet of Things (IoT) technology in the manufacturing process. IoT technology can be used to connect various devices and machines in the manufacturing process, allowing for real-time data collection and analysis. This data can be used to improve efficiency and quality control in the manufacturing process. Additionally, IoT-enabled machines can communicate with each other to coordinate production, further increasing efficiency.
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Key Players
- IBM
- Microsoft
- GE Digital
- PTC
- Persistent Systems
- Robert Bosch GmbH
Key Trends
The key trends in IoT in Manufacturing technology are:
The integration of IoT with Industry 4.0: The integration of IoT with Industry 4.0 is one of the key trends in the manufacturing sector. Industry 4.0 is the fourth industrial revolution that is characterized by the integration of cyber-physical systems, the Internet of Things, and cloud computing. This integration enables manufacturers to collect and analyze data from various machines and equipment in order to improve productivity and efficiency.
Key Drivers
There are a few key drivers of the IoT in Manufacturing market. Firstly, the demand for better quality products and increased efficiency in the manufacturing process is driving the need for IoT solutions in the manufacturing sector. Secondly, the need to reduce operational costs and increase transparency across the supply chain is also driving the market for IoT in Manufacturing. Thirdly, the need for real-time data analytics to improve decision making and optimize processes is another key driver of this market. Lastly, the need for better safety and security in the manufacturing process is also driving the market for IoT in Manufacturing.
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Market Segments
By Component
- Software
- Services
By Application
- Predictive Maintenance
- Asset Performance Management
- Quality Management
- Cognitive Process & Operations Management
- Supply Chain Management
- Others
Reasons to buy IoT in Manufacturing Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
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