DUBLIN, Jan. 5, 2021 /PRNewswire/ -- The "IoT in Manufacturing Market by Component (Solutions (Network Management and Data Management) and Services (Professional and Managed)), Deployment Mode, Organization Size, Application, Vertical (Process and Discrete), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The IoT in manufacturing market size is projected to grow from USD 33.2 billion in 2020 to USD 53.8 billion by 2025, at a CAGR of 10.1%
The major factors driving the growth of the IoT in manufacturing market include growing demand for industrial automation in the manufacturing industry, rising need for centralized monitoring and predictive maintenance of assets, rise in the number of cost-effective and intelligent connected devices and sensors, increasing need for reliable, secure, and high-speed network connectivity, and increased adoption of cloud computing platforms.
Based on component, the solutions segment leads the IoT in the manufacturing market during the forecast period
With the increased number of networked sensors growing across the production sector, logistics and supply chain manufacturers are getting into a new generation of systems that enable various solutions, such as data management, device management, application management, network management, and smart surveillance. The ubiquity of these solutions and connected devices is finding applicability across multiple segments of the manufacturing and supply chain industry throughout the value chain. Organizations across the manufacturing industry are adopting IoT solutions and services, as it enables them to monitor their assets and increase operational efficiency. Maintenance, repair, and operations of assets are of the utmost importance in any asset-intensive in$dustry. The key objective is to maximize the RoI of the current asset base as well as to reduce the cost. IoT in manufacturing solutions enables organizations to track assets and receive notifications when the maintenance of assets is due. It helps enterprises perform regular maintenance, thereby increasing the productivity of the asset.
Based on professional services, system designing and integration service segment is estimated to grow at a higher CAGR during the forecast period
System designing and integration services offer a wide range of designs for IoT ecosystems and the integration of IoT solutions, which support the operational systems and business activities. System design service providers sketch the complete IoT system to reduce business complexities and enhance profitability. Service providers also design customized services based on clients' needs and budgets to manage workflows and provide ease to their customers and employees. The customized services include IoT solutions and connectivity design, wireless network design, and IoT infrastructure design. On the other hand, integration services include the installation of IoT software and solutions into organizations' IoT ecosystem.
Based on deployment mode, the cloud segment is estimated to grow at a higher CAGR during the forecast period
Cloud-based deployment offers several benefits to organizations, such as scalability, flexibility in capacity, enhanced collaboration, cost-efficiency, reduced physical infrastructure, less maintenance cost, and 24/7 data accessibility of assets from any time, anywhere. Asset-intensive organizations prefer cloud-deployed solutions, as it offers scalability and agility in organizations and provides more functions than on-premises solutions at an affordable cost. With rapid advancements in cloud technology, organizations are inclined toward implementing cost-effective cloud-based solutions.
Based on verticals, discrete manufacturing segment is expected to lead the market during the forecast period
The discrete industry is concerned with the manufacturing and production of distinct units, such as automobiles, furniture, toys, smartphones, and airplanes. The discrete industry comprises a variety of verticals, such as automotive, machine manufacturing, semiconductor and electronics, medical devices, and logistics and transportation. The growth of IoT is leading to improvements in discrete manufacturing. For discrete manufacturers, IoT-enabled smart connected products provide a way to increase product functionality and generate additional value for customers.
APAC is expected to grow at a higher CAGR during the forecast period
APAC, being an emerging economy, is witnessing dynamic changes in the adoption of new technologies and expected to record the highest CAGR during the forecast period. With the presence of emerging countries, such as China, Japan, and India, the region is expected to witness high growth in the IoT in themanufacturing market. As the manufacturing industry in Asia is in its developing phase, the adoption capability is more as compared to North America and Europe. With a lower level of entrenched processes than their American or European counterparts, Asian manufacturing businesses have a greater ability to alter their operations.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights4.1 Attractive Opportunities in IoT in Manufacturing Market4.2 Asia-Pacific Market, by Solution and Country4.3 Market: Major Countries5 Market Overview and Industry Trends5.1 Market Overview5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Growing Demand for Industrial Automation in Manufacturing Industry5.2.1.2 Rising Need for Centralized Monitoring and Predictive Maintenance of Assets5.2.1.3 Rise in the Number of Cost-Effective and Intelligent Connected Devices and Sensors5.2.1.4 Increasing Need for Reliable, Secure, and High-Speed Network Connectivity5.2.1.5 Increased Adoption of Cloud Computing Platforms5.2.2 Restraints5.2.2.1 Privacy and Security Concerns Over the Use of Iot5.2.2.2 Lack of Interoperability and Common Standards5.2.3 Opportunities5.2.3.1 Rising Number of Data Centers5.2.3.2 Emerging 5G Technology to Help IoT Adoption Globally5.2.3.3 Increase in Smart Manufacturing Initiatives Worldwide5.2.4 Challenges5.2.4.1 Lack of Skilled Workforce for Operating Iot-Based Equipment5.2.4.2 Huge Initial Investments Required for Implementing IoT in Smart Manufacturing5.3 Impact of COVID-19 on IoT in Manufacturing Market Dynamics Analysis5.3.1 Drivers and Opportunities5.3.2 Restraints and Challenges5.3.3 Cumulative Growth Analysis5.4 Value Chain Analysis5.5 Ecosystem5.6 Average Selling Price Trend5.7 Case Study Analysis5.8 Impact of Disruptive Technologies5.9 Regulatory Bodies in IoT in Manufacturing Market6 IoT in Manufacturing Market, by Component6.1 Introduction6.2 Solutions6.2.1 Solutions: COVID-19 Impact6.2.2 Solutions: Market Drivers6.3 Services6.3.1 Services: COVID-19 Impact6.3.2 Services: Market Drivers7 IoT in Manufacturing Market, by Solution7.1 Introduction7.2 Network Management7.2.1 Network Management: Market Drivers7.2.2 Network Bandwidth Management7.2.3 Network Security Management7.2.4 Network Performance Monitoring and Management7.2.5 Network Configuration Management7.3 Data Management7.3.1 Data Management: IoT in Manufacturing Market Drivers7.3.2 Data Integration7.3.3 Data Security7.3.4 Data Migration7.3.5 Data Analytics and Visualization7.3.6 Metadata Management7.3.7 Data Governance7.3.8 Data Orchestration7.4 Device Management7.4.1 Device Management: IoT in Manufacturing Market Drivers7.4.2 Device Provisioning and Authentication7.4.3 Device Configuration Management7.4.4 Monitoring and Troubleshooting7.5 Application Management7.5.1 Application Management: Market Drivers7.6 Smart Surveillance7.6.1 Smart Surveillance: IoT in Manufacturing Market Drivers7.6.2 Central Monitoring System7.6.3 Video Analytics and Events8 IoT in Manufacturing Market, by Service8.1 Introduction8.2 Managed Services8.2.1 Managed Services: Market Drivers8.2.2 Infrastructure Management Services8.2.3 Infrastructure Management Services: IoT in Manufacturing Market Drivers8.2.4 Security Management Services8.2.5 Security Management Services: Market Drivers8.2.6 Network Management Services8.2.7 Network Management Services: Market Drivers8.2.8 Data Management Services8.2.9 Data Management Services: IoT in Manufacturing Market Drivers8.2.10 Device Management Services8.2.11 Device Management Services: Market Drivers8.3 Professional Services8.3.1 Professional Services: Market Drivers8.3.2 IoT Consulting Services8.3.3 IoT Consulting Services: Market Drivers8.3.3.1 Technology Consulting Services8.3.3.2 Business Consulting Services8.3.3.3 Operational Consulting Services8.3.4 IoT Infrastructure Services8.3.5 IoT Infrastructure Services: IoT in Manufacturing Market Drivers8.3.5.1 Network Services8.3.5.2 Deployment Services8.3.5.3 Cloud Services8.3.6 System Designing and Integration Services8.3.7 System Designing and Integration Services: IoT in Manufacturing Market Drivers8.3.7.1 Platform Development and Integration Services8.3.7.2 Mobile and Web Application Development Services8.3.8 Support and Maintenance Services8.3.9 Support and Maintenance Services: IoT in Manufacturing Market Drivers8.3.10 Education and Training Services8.3.11 Education and Training Services: IoT in Manufacturing Market Drivers9 IoT in Manufacturing Market, by Deployment Mode9.1 Introduction9.2 On-Premises9.2.1 On-Premises: Market Drivers9.3 Cloud9.3.1 Cloud: Market Drivers10 IoT in Manufacturing Market, by Organization Size10.1 Introduction10.2 Large Enterprises10.2.1 Large Enterprises: Market Drivers10.3 Small and Medium-Sized Enterprises10.3.1 Small and Medium-Sized Enterprises: Market Drivers11 IoT in Manufacturing Market, by Application11.1 Introduction11.1.1 Applications: COVID-19 Impact11.2 Predictive Maintenance11.2.1 Predictive Maintenance: Market Drivers11.3 Business Process Optimization11.3.1 Business Process Optimization: IoT in Manufacturing Market Drivers11.4 Asset Tracking and Management11.4.1 Asset Tracking and Management: Market Drivers11.5 Logistics and Supply Chain Management11.5.1 Logistics and Supply Chain Management: Market Drivers11.6 Real-Time Workforce Tracking and Management11.6.1 Real-Time Workforce Tracking and Management: Market Drivers11.7 Automation Control and Management11.7.1 Automation Control and Management: IoT in Manufacturing Market Drivers11.8 Emergency and Incident Management, and Business Communication11.8.1 Emergency and Incident Management, and Business Communication: Market Drivers12 IoT in Manufacturing Market, by Vertical12.1 Introduction12.1.1 Verticals: COVID-19 Impact12.2 Process Manufacturing12.2.1 Process Manufacturing: Market Drivers12.2.2 Energy and Utilities12.2.3 Chemicals and Materials12.2.4 Food and Beverage12.2.5 Water and Waste Management12.2.6 Other Verticals12.3 Discrete Manufacturing12.3.1 Discrete Manufacturing: IoT in Manufacturing Market Drivers12.3.2 Automotive12.3.3 Machine Manufacturing12.3.4 Semiconductor and Electronics12.3.5 Medical Devices12.3.6 Logistics and Transportation13 IoT in Manufacturing Market, by Region13.1 Introduction13.2 North America13.3 Europe13.4 Asia-Pacific13.5 Middle East and Africa13.6 Latin America14 Competitive Landscape14.1 Introduction14.2 Market Evaluation Framework14.3 Revenue Analysis of Top Market Players14.4 Market Share Analysis14.4.1 Introduction14.5 Key Players in IoT in Manufacturing Market, 202014.6 Company Evaluation Matrix, 202014.6.1 Star14.6.2 Emerging Leader14.6.3 Pervasive14.7 Startup/SME Evaluation Matrix, 202014.7.1 Progressive Companies14.7.2 Responsive Companies14.7.3 Dynamic Companies14.7.4 Starting Blocks15 Company Profiles15.1 Introduction15.2 Cisco15.3 IBM15.4 PTC15.5 Microsoft15.6 GE15.7 SAP15.8 Siemens Ag15.9 Huawei15.10 Bosch.io15.11 ATOS15.12 HCL15.13 Intel15.14 Oracle15.15 Schneider Electric15.16 Zebra Technologies15.17 Software Ag15.18 Telit15.19 Wind River15.20 Clearblade15.21 Litmus15.22 Uptake15.23 Hqsoftware15.24 Sciencesoft15.25 Mocana15.26 Impinj16 Adjacent/Related Markets16.1 IoT Platform Market16.1.1 Market Definition16.1.2 Limitations of the Study16.1.3 Market Overview16.1.4 IoT Platform Market, by Platform Type16.1.5 Device Management Platform16.1.6 Application Management Platform16.1.7 Connectivity Management Platform16.1.8 IoT Platform Market, by Application Area16.1.9 IoT Platform Market, by Vertical16.1.10 IoT Platform Market, by Region16.2 IoT Market16.2.1 Market Definition16.2.2 Limitations of the Study16.2.3 Market Overview16.2.4 IoT Market, by Device and Technology16.2.5 IoT Market, by Software16.2.6 IoT Market, by Vertical16.2.7 IoT Market, by Region17 Appendix
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