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IoT in manufacturing market expected to hit USD 20.59 billion by 2021

The Internet of Things (IoT) in manufacturing market size is expected to grow USD 6.17billion in 2016 to USD 20.59billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.2% from 2016 to 2021.

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Predictive maintenance plays a significant role in managing high valued factory equipment. The predictive maintenance techniques are designed to determine the condition of in-service manufacturing equipment in order to predict when the maintenance should be performed.

This approach promises cost savings over routine or time-based preventive maintenance because tasks are performed only when required.

Business consulting services play a significant role in IoT in manufacturing, as enterprises find it suitable to consult with the business professionals before implementing IoT platforms and solutions in manufacturing processes.

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Most of the IoT vendors offer business consulting services to their commercial clients, including manufacturing companies, and monitor the impact analysis of production cost, quality, flexibility, service levels, and control. These services provide a clear understanding of the current and future product portfolio, core capabilities & needs of the organizations, and future footprint & capacity plan, including which sites should be closed, consolidated, or prioritized for manufacturing operation optimizations.

Major players of IoT in Manufacturing Market Report are:

The IoT in manufacturing ecosystem comprises the major vendors such as IBM Corporation (U.S.), Cisco System, Inc. (U.S.), PTC Incorporation. (U.S.), General electric (U.S.), and SAP SE (Germany), Zebra Technologies (U.S.),Rockwell Automation (U.S.), Siemens AG (Germany), Huawei (China), Microsoft Corporation (U.S), and Bosch Software Innovation GMBH (Germany).

The complete report of IoT in Manufacturing Market by Software (Network & Application Security, Network Bandwidth, Remote Monitoring, Data Management, & Smart Surveillance), Platform, Service, Application, Vertical Markets, and Region - Global Forecast to 2021 is now available on…rket-report.html

Break of primary participants in IoT in Manufacturing Market was as mentioned below:

By Company Type: Tier 1- 48%, Tier 2- 39%, and Others- 13%

By Designation: C-level- 48%, Director-level- 31%, and Others- 21%

By Region: North America- 12%, Europe- 27%, Asia Pacific- 37%, South America- 8%, and the Middle East & Africa- 16%

FAQ’s regarding the IoT in Manufacturing Market Report are:

What is Market Penetration of IoT in Manufacturing?
Comprehensive information on the product portfolios of the top players in the IoT in Manufacturing market

What is Product Development/Innovation of IoT in Manufacturing?
Detailed insights on the upcoming technologies, R&D activities, and product launches in the IoT in Manufacturing market

What is Competitive Assessment of IoT in Manufacturing?
In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the IoT in Manufacturing market

What is Market Development of IoT in Manufacturing?
Comprehensive information about emerging markets. This report analyzes the market for various IoT in Manufacturing products across geographies

What is Market Diversification of IoT in Manufacturing?
Exhaustive information about new products, untapped geographies, recent developments, and investments in the IoT in Manufacturing market

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The report includes in-depth competitive analysis of these key players in the IoT in manufacturing market, with their company profiles, SWOT analysis, recent developments, and key market strategies. The research report segments the IoT in manufacturing market by platform, software, services, application, vertical markets, and region.

North America is expected to hold the largest market share during the forecast period. Major IoT in manufacturing vendors in this region such as IBM Corporation, Cisco System, Inc., General Electric, and PTC In corporation offer a number of reliable and enhanced IoT platforms and services to cater to the various needs of the enterprises and their commercial clients.

The APAC market is expected to witness exponential growth and is projected to be the fastest-growing region for the IoT in manufacturing market. It has witnessed advanced and dynamic adoption of new technologies and has always been a lucrative market. 

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