Global IoT Connected Machines Market Size –By Component (Hardware, Software and Services), By Application (Predictive Maintenance, Remote Monitoring, Asset Management, Smart Manufacturing, Process Automation, Energy Management, Inventory Control, Quality Control, Safety and Security, Others), By Connectivity Technology (Cellular (4G, 5G), Wi-Fi, Bluetooth and BLE (Bluetooth Low Energy), LoRaWAN, Sigfox, NB-IoT, Ethernet and Others), By End-use Industry (Manufacturing, Healthcare, Energy & Utilities, Automotive, Transportation & Logistics, Oil & Gas and Others) & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-10-14
- NO OF PAGES
- 310
- CATEGORY
- Information Communication & Technology
Market Overview
The IoT Connected Machines market is predicted to develop at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2034, when it is projected to reach USD 976.43 Billion in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 265.37 Billion in 2024.
SOURCE: We Market Research
The IoT
Connected Machines Market refers to the integration of Internet of Things (IoT)
technologies in machines and industrial equipment, enabling these devices to
communicate, collect, and share data with each other, and often, with
centralized systems or the cloud. This connectivity enables automation,
predictive maintenance, performance optimization, and improved decision-making.
The Internet of
Things (IoT) connected machines market is a rapidly growing segment, driven by
the increasing need for data-driven decision-making, automation, and enhanced
operational efficiency across industries. IoT technology enables machines to
communicate with each other and with central systems, allowing for real-time
monitoring, control, and optimization of operations.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 265.37 Billion |
|
Market
Forecast in 2034 |
USD 976.43 Billion |
|
CAGR % 2024-2034 |
15.6% |
|
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 Connectivity Technology, By Application, By End-use 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 Connected Machines Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: IoT Connected Machines
Dashboard
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