"Executive Summary Internet of Things (IoT) in Manufacturing Market Size and Share Forecast

Data Bridge Market Research analyses that the internet of things (IoT) in manufacturing market, valued at USD 24.65 billion in 2022, will reach USD 95.98 billion by 2030, growing at a CAGR of 18.52% during the forecast period of 2023 to 2030.

The Internet of Things (IoT) in Manufacturing Market report showcases the list of top competitors and gives the insights on strategic industry analysis of the key factors affecting the market. Examination of major challenges faced currently by the business and the probable future challenges that the business may have to face while operating in this market are also considered. The collected information and data is tested and verified by market experts before handing over it to the end user. The Internet of Things (IoT) in Manufacturing Market report has been prepared with the experience of skilful and inventive team. It helps achieve an extreme sense of evolving industry movements before competitors.

This Internet of Things (IoT) in Manufacturing Market research report consists of fundamental, secondary and advanced information allied to the global status and trend, market size, sales volume, market share, growth, future trends analysis, segment and forecasts from 2018 - 2025. This market study also evaluates the market status, market share, growth rate, sales volume, future trends, market drivers, market restraints, revenue generation, opportunities and challenges, risks and entry barriers, sales channels, and distributors. When a business struggles to gain competitive advantage in this swiftly transforming marketplace, then plumping for such Internet of Things (IoT) in Manufacturing Market research report is highly recommended as it offers a lot of benefits for a thriving business.

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Internet of Things (IoT) in Manufacturing Market Review

**Segments**

- By Type: Hardware (Sensors, RFID Tags, Industrial Robots, Others), Software (PLM, MES, SCADA, Others), Services (Professional Services, Managed Services)
- By Application: Predictive Maintenance, Business Process Optimization, Asset Tracking and Management, Logistics and Supply Chain Management, Real-Time Workforce Tracking and Management
- By Industry Vertical: Automotive, Aerospace & Defense, Electronics, Chemicals & Materials, Food & Beverage, Pharmaceuticals, Others

IoT in manufacturing market is witnessing significant growth driven by the increasing adoption of automation and digitization in the manufacturing sector. The hardware segment, including sensors, RFID tags, and industrial robots, is expected to dominate the market share owing to the rising demand for real-time monitoring and control of manufacturing processes. The software segment, which includes PLM, MES, and SCADA, is also gaining traction as manufacturers look to optimize their operations and enhance productivity. Services such as professional services and managed services play a crucial role in the successful implementation of IoT solutions in manufacturing.

In terms of application, predictive maintenance is one of the key areas where IoT is creating value for manufacturers by enabling proactive equipment maintenance and reducing downtime. Business process optimization is another significant application of IoT in manufacturing, helping companies streamline their operations and improve efficiency. Asset tracking and management, logistics and supply chain management, as well as real-time workforce tracking and management are also driving the adoption of IoT in the manufacturing industry.

When it comes to industry verticals, automotive, aerospace & defense, electronics, chemicals & materials, food & beverage, and pharmaceuticals are among the sectors that are leveraging IoT to transform their manufacturing processes. These industries are increasingly investing in IoT technologies to gain real-time insights, improve decision-making, and enhance overall operational efficiency.

**Market Players**

- Siemens AG
- IBM Corporation
- Intel Corporation
- Cisco Systems, Inc.
- Microsoft Corporation
- PTC Inc.
- General Electric
- SAP SE
- Bosch Software Innovations GmbH
- Zebra Technologies
- Schneider Electric
- Rockwell Automation, Inc.

The global IoT in manufacturing market is highly competitive, with key players focusing on strategic collaborations, partnerships, and product innovations to gain a competitive edge. These market players are investing in research and development activities to launch advanced IoT solutions tailored to the specific needs of the manufacturing industry. With the increasing digitization of manufacturing processes and the growing demand for smart factories, the competition among market players is expected to intensify further in the coming years.

The IoT in manufacturing market is poised for significant growth in the coming years, driven by the dual imperatives of automation and digitization in the manufacturing sector. As the industry continues to embrace IoT technologies, a paradigm shift is underway towards more efficient and data-driven manufacturing processes. One of the key drivers propelling this transformation is the increasing demand for real-time monitoring and control of manufacturing operations, which is predominantly fueled by advancements in sensor technology, RFID tags, and industrial robots. These hardware components are playing a pivotal role in enabling manufacturers to achieve higher levels of operational visibility and process optimization.

On the software front, solutions such as Product Lifecycle Management (PLM), Manufacturing Execution Systems (MES), and Supervisory Control and Data Acquisition (SCADA) are gaining traction as manufacturers seek to enhance productivity and streamline their operations. These software tools are instrumental in facilitating data integration, process automation, and performance monitoring across various stages of the manufacturing value chain. Additionally, professional services and managed services are crucial for ensuring the successful implementation and ongoing support of IoT solutions in manufacturing environments, further underscoring the holistic approach adopted by industry players towards digital transformation.

In terms of applications, IoT is proving to be a game-changer in areas such as predictive maintenance, business process optimization, asset tracking and management, logistics, supply chain management, and real-time workforce tracking. By leveraging IoT technologies, manufacturers can proactively maintain equipment, optimize their operational workflows, track and manage assets more efficiently, and gain real-time insights into workforce performance, leading to enhanced decision-making and operational efficiency across the board.

Moreover, across industry verticals such as automotive, aerospace & defense, electronics, chemicals & materials, food & beverage, and pharmaceuticals, IoT is driving transformative changes by enabling real-time data analytics, decision support, and predictive maintenance capabilities. These sectors are increasingly recognizing the value of IoT in driving operational excellence, improving quality control, and fostering innovation in their manufacturing processes. As a result, investments in IoT technologies are expected to witness a sustained uptrend as organizations strive to remain competitive in an increasingly digitized and interconnected manufacturing landscape.

In conclusion, the global IoT in manufacturing market presents immense opportunities for growth and innovation, with market players focusing on collaborative partnerships, technological advancements, and tailored solutions to meet the evolving needs of the industry. As the competition intensifies, companies that can successfully integrate IoT technologies into their manufacturing operations stand to gain a competitive advantage by driving efficiency, enhancing quality, and unlocking new sources of value creation in the evolving Industry 4.0 landscape.The global IoT in manufacturing market is experiencing a transformative shift towards more efficient and data-driven processes, largely driven by the increasing adoption of automation and digitization across various industry verticals. As manufacturers strive to enhance operational visibility and streamline their operations, the demand for IoT solutions encompassing hardware, software, and services is on the rise. In the hardware segment, sensors, RFID tags, and industrial robots are playing a crucial role in enabling real-time monitoring and control of manufacturing processes, aiding in process optimization and efficiency improvements.

On the software front, solutions such as PLM, MES, and SCADA are witnessing increased adoption as manufacturers seek to integrate data, automate processes, and monitor performance effectively. Professional services and managed services are essential components in ensuring the successful implementation and maintenance of IoT solutions, highlighting the holistic approach required for digital transformation in manufacturing environments.

Across different applications such as predictive maintenance, business process optimization, asset tracking, logistics, supply chain management, and real-time workforce tracking, IoT is proving to be a game-changer by enabling proactive maintenance, operational streamlining, and improved decision-making based on real-time insights. Industries such as automotive, aerospace & defense, electronics, chemicals & materials, food & beverage, and pharmaceuticals are leveraging IoT technologies to drive operational excellence, quality control, and innovation in their manufacturing processes.

Market players in the IoT in manufacturing sector are focusing on strategic collaborations, partnerships, and continuous innovation to gain a competitive edge. The emphasis on research and development activities to launch tailored IoT solutions aligning with the specific requirements of the manufacturing industry underscores the evolving landscape of Industry 4.0. With the increasing digitization of manufacturing processes and the shift towards smart factories, competition among market players is intensifying, signaling a dynamic market environment poised for further growth and technological advancement.

In conclusion, the global IoT in manufacturing market presents significant opportunities for growth and innovation as companies increasingly embrace IoT technologies to drive efficiency, quality, and value creation. The ongoing convergence of automation, connectivity, and data analytics is reshaping traditional manufacturing practices, paving the way for a more interconnected and technologically advanced future for the industry. As organizations navigate this evolving landscape, strategic partnerships, technological advancements, and a customer-centric approach will be key differentiators in unlocking the full potential of IoT in manufacturing.

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Structured Market Research Questions for Internet of Things (IoT) in Manufacturing Market

• What is the present size of the global Internet of Things (IoT) in Manufacturing industry?
• What annual growth rate is projected for the Internet of Things (IoT) in Manufacturing sector?
• What are the main segment divisions in the Internet of Things (IoT) in Manufacturing Market report?
• Who are the established players in the global Internet of Things (IoT) in Manufacturing Market?
• What geographic areas are explored in the Internet of Things (IoT) in Manufacturing Market report?
• Who are the leading manufacturers and service providers for Internet of Things (IoT) in Manufacturing Market?

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