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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

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.