IoT in Manufacturing Market Analysis by Product Type (Dairy Alternatives, Meat Substitutes, Egg Alternative, Vegan Bakery, Confectionery, Plant-Based Snacks), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online) and by Region: Global Forecast, 2024 - 2034.
- PUBLISHED ON
- 2024-06-14
- NO OF PAGES
- 270
- CATEGORY
- Information Communication & Technology
The IoT in Manufacturing market is
predicted to develop at a compound annual growth rate (CAGR) of 22.3% from 2024
to 2034, when it is projected to reach USD 2115.87 Billion, based on an average
growth pattern. The market is estimated to reach a value of USD 282.63 Billion
in 2024. 
SOURCE: We Market Research
In order to
gather and share data, IoT in manufacturing entails connecting machinery,
equipment, and gadgets to the internet. Predictive maintenance, operational
optimisation, and enhanced supply chain management are made possible by this
connectedness. It makes it easier to create "smart factories," where
systems can connect with each other on their own, and it improves quality
control by allowing real-time production monitoring. Through the provision of
insightful data, IoT facilitates better decision-making, boosts productivity,
lowers expenses, and enhances safety. All things considered, IoT revolutionises
industry by increasing output and improving operational efficiency.
The desire for
greater operational efficiency and productivity, developments in sensor
technology, and the expanding trend towards smart factories are some of the
drivers driving the IoT in manufacturing market. While improved data analytics
facilitate better decision-making, predictive maintenance capabilities lower
equipment downtime and expenses. Adoption is further increased by enhanced
supply chain management via real-time tracking and monitoring. The market is
further driven by cost reduction through automation and energy management, as
well as support for regulatory compliance. All of these factors add to the
increasing IoT technology integration in manufacturing.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 282.63 Billion |
|
Market Forecast in 2034 |
USD 2115.87 Billion |
|
CAGR % 2024-2034 |
22.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Component, By Application, By Deployment Mode, By Industry and
By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
IoT in Manufacturing Industry: Dynamics &
Restrains
Market opportunity:
We Market
Research: IoT in Manufacturing Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
IoT in Manufacturing Segmentation
Market- By Component Analysis
By Component, the IoT in Manufacturing Market is Categories into Hardware, Software, Services. The Hardware segment accounts for the largest share of around 48% in 2024.
The hardware segment in the global IoT in
manufacturing market is driven by advancements in sensors, devices, and
communication technologies, which enhance data collection, real-time
monitoring, and automation capabilities, thereby improving operational efficiency
and reducing costs in manufacturing processes.
The
following segments are part of an in-depth analysis of the global IoT in
Manufacturing market:
|
Market Segments |
|
|
By Application |
·
Predictive Maintenance ·
Quality Control ·
Inventory Management ·
Asset Tracking ·
Supply Chain Management |
|
By Deployment mode |
·
Cloud-based ·
On-premise |
|
By Industry |
·
Automotive ·
Aerospace ·
Consumer Goods ·
Electronics ·
Pharmaceuticals ·
Others |
IoT in Manufacturing Industry: Regional Analysis
Asia-Pacific Market Forecast
Asia-Pacific dominate the IoT in Manufacturing Market with the highest revenue generating market with share of more than 48%. Rapid industrialization, government support for smart manufacturing, and significant IoT infrastructure investments drive rapid growth. The expanding industrial base in China, Japan, and India propels regional adoption.
North America Market Statistics
North America is
second largest region in IoT in Manufacturing Market. In North America, major
tech firms, advanced infrastructure, and proactive government support drive IoT
adoption. Investments in smart manufacturing and Industry 4.0 initiatives
bolster the region’s leadership in the market.
Europe Market Forecasts
Europe is
expected to be the fastest-growing regional segment of the IoT in Manufacturing
market during the forecast period. Europe’s IoT in Manufacturing market is
driven by a focus on innovation, sustainability, and government R&D funding
fuels growth. Europe's strong industrial sector and high investment levels in
IoT technologies advance its market position.
Key Market Players
The IoT in Manufacturing Market is dominated by a few
large companies, such as
·
Cisco Systems Inc.
·
PTC
·
General Electric
·
ABB
·
Intel Corporation
·
Schneider Electric
·
IBM Corporation
·
ScienceSoft
·
ATOS
·
Oracle
·
Software AG
·
Siemens AG
·
Litmus Automation
· Others
1.
Global
IoT in Manufacturing Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global IoT in Manufacturing
Market Scope and Market Estimation
1.2.1.Global IoT in Manufacturing Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2.Global IoT in Manufacturing
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1.Component of Global IoT in
Manufacturing Market
1.3.2.Application of Global IoT in
Manufacturing Market
1.3.3.Deployment mode of Global IoT in
Manufacturing Market
1.3.4.Industry of Global IoT in
Manufacturing Market
1.3.5.Region of Global IoT in
Manufacturing Market
2.
Executive Summary
2.1. Market Dynamics
2.1.1.Drivers
2.1.2.Limitations
2.1.3.Opportunities
2.1.4.Impact Analysis of Drivers and
Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1.Bargaining Power of Suppliers
2.4.2.Bargaining Power of Buyers
2.4.3.Threat of Substitutes
2.4.4.Threat of New Entrants
2.4.5.Competitive Rivalry
2.5. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global IoT in Manufacturing
Market Estimates & Historical Trend
Analysis (2019 - 2023)
4.
Global IoT in Manufacturing
Market Estimates & Forecast Trend
Analysis, by Component
4.1. Global IoT in Manufacturing
Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2034
4.1.1.Hardware
4.1.2.Software
4.1.3.Services
5.
Global IoT in Manufacturing
Market Estimates & Forecast Trend
Analysis, by Application
5.1. Global IoT in Manufacturing
Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2034
5.1.1.Predictive Maintenance
5.1.2.Quality Control
5.1.3.Inventory Management
5.1.4.Asset Tracking
5.1.5.Supply Chain Management
6.
Global IoT in Manufacturing
Market Estimates & Forecast Trend
Analysis, by Deployment mode
6.1. Global IoT in Manufacturing
Market Revenue (US$ Mn) Estimates and Forecasts, by Deployment mode,
2019 to 2034
6.1.1.Cloud-based
6.1.2.On-premise
7.
Global IoT in Manufacturing
Market Estimates & Forecast Trend
Analysis, by Industry
7.1. Global IoT in Manufacturing
Market Revenue (US$ Mn) Estimates and Forecasts, by Industry,
2019 to 2034
7.1.1.Automotive
7.1.2.Aerospace
7.1.3.Consumer Goods
7.1.4.Electronics
7.1.5.Pharmaceuticals
7.1.6.Others
8.
Global IoT in Manufacturing Market Estimates & Forecast Trend Analysis,
by Region
8.1. Global IoT in Manufacturing
Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2034
8.1.1.North America
8.1.2.Europe
8.1.3.Asia Pacific
8.1.4.Middle East & Africa
8.1.5.South America
9.
North
America IoT in Manufacturing Market: Estimates & Forecast Trend Analysis
9.1.
North
America IoT in Manufacturing Market Assessments & Key Findings
9.1.1.North America IoT in
Manufacturing Market Introduction
9.1.2.North America IoT in
Manufacturing Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By Component
9.1.2.2. By Application
9.1.2.3. By Deployment mode
9.1.2.4. By Industry
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe IoT
in Manufacturing Market: Estimates
& Forecast Trend Analysis
10.1. Europe IoT in Manufacturing
Market Assessments & Key Findings
10.1.1. Europe IoT in Manufacturing
Market Introduction
10.1.2. Europe IoT in Manufacturing
Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By Component
10.1.2.2. By Application
10.1.2.3. By Deployment mode
10.1.2.4. By Industry
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.2. U.K.
10.1.2.5.3. France
10.1.2.5.4. Italy
10.1.2.5.5. Spain
10.1.2.5.6. Russia
10.1.2.5.7. Rest of Europe
11. Asia Pacific IoT
in Manufacturing Market: Estimates
& Forecast Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific IoT in
Manufacturing Market Introduction
11.1.2. Asia Pacific IoT in
Manufacturing Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By Component
11.1.2.2. By Application
11.1.2.3. By Deployment mode
11.1.2.4. By Industry
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12. Middle East & Africa IoT
in Manufacturing Market: Estimates
& Forecast Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa IoT
in Manufacturing Market Introduction
12.1.2. Middle
East & Africa IoT
in Manufacturing Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
12.1.2.1. By Component
12.1.2.2. By Application
12.1.2.3. By Deployment mode
12.1.2.4. By Industry
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East & Africa
13. South America
IoT in Manufacturing Market: Estimates
& Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America IoT in
Manufacturing Market Introduction
13.1.2. South America IoT in
Manufacturing Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
13.1.2.1. By Component
13.1.2.2. By Application
13.1.2.3. By Deployment mode
13.1.2.4. By Industry
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition Landscape
14.1. Global IoT in Manufacturing
Market Competition Matrix & Benchmarking, by Leading Players / Innovators /
Emerging Players / New Entrants
14.2. Global IoT in Manufacturing
Market Competition White Space Analysis, By End-user
14.3. Global IoT in Manufacturing
Market Competition Heat Map Analysis, By End-user
14.4. Global IoT in Manufacturing
Market Concentration & Company Market Shares (%) Analysis, 2022
15. Company Profiles
15.1.
Cisco Systems Inc.
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
15.2. PTC
15.3. General
Electric
15.4. ABB
15.5. Intel
Corporation
15.6. Schneider
Electric
15.7. IBM
Corporation
15.8. ScienceSoft
15.9. ATOS
15.10. Oracle
15.11. Software AG
15.12. Siemens AG
15.13. Litmus
Automation
15.14. Others
16. Research
Methodology
16.1. External Transportations /
Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research
Findings & Conclusion
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
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Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size of IoT in Manufacturing Market in 2024?
IoT in Manufacturing Market was valued at USD 282.63 Billion in 2024.
What is the growth rate for the IoT in Manufacturing Market?
IoT in Manufacturing Market size will increase at approximate CAGR of 22.3%during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the IoT in Manufacturing Market Are Cisco Systems Inc., PTC, General Electric, ABB, Intel Corporation, Schneider Electric, IBM Corporation, ScienceSoft, ATOS , Oracle , Software AG, Siemens AG, Litmus Automation and Others.
Which region dominates the IoT in Manufacturing Market?
North America dominates the market with an active share of 48%.
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