[January 29, 2018]

Global $45.3 Billion IoT in Manufacturing Market 2018-2022 - Growing Need for Centralized Monitoring and Predictive Maintenance - ResearchAndMarkets.com

The "Global IoT in Manufacturing Market by Solution, Platform, Service, Application, Vertical Market, and Region - Forecasts to 2022" report has been added to ResearchAndMarkets.com's offering.

The report forecasts the global IoT in manufacturing market size to grow from USD 12.67 Billion in 2017 to USD 45.30 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 29%.

The major factors driving the growth of the IoT in manufacturing market are the growing need for centralized monitoring and predictive maintenance of manufacturing infrastructure, the advent of latest communication technologies, and the need for agile production and operational efficiency. Furthermore, an increasing adoption of the cloud, convergence in operational technologies (OT) and IT, and growing number of intelligent connected devices with cost reduction are some of the other factors supporting the overall growth of the market.

Market Dynamics

Drivers

• Growing Need for Centralized Monitoring and Predictiv Maintenance of the Manufacturing Infrastructure
• Advent of the Latest Communication Technologies
• Demand-Driven Supply Chain and Connected Logistics
• Need for Agile (News - Alert) Production, Operational Efficiency, and Better Control
• Increase in the Adoption of the Cloud Environment
• Convergence in OT and IT
• Rise in the Number of Cost-Effective, Intelligent Connected Devices
• Advent of Data Analytics and Data Processing
• Increase in Regulatory Compliances
• 10 Advent of Intelligent Machine Applications

• Lack of Standards for Interconnectivity and Interoperability
• Data Security and Privacy Concerns
• Shadow IT Risks

Opportunities

• Outcome Economy and Pull Economy
• Content Maturity Model
• Shared Security Model

Challenges

• Data Migration Challenges
• Inconsistent Business Semantics and Conflicts Related to Data Ownership

Companies Mentioned

• Bosch (Germany)
• Cisco Systems (US)
• Clearblade
• General Electric (US)
• Huawei (News - Alert) (China)
• IBM (US)
• Impinj
• Konux
• Litmus Automation
• Microsoft (US)
• Mocana
• PTC (US)
• SAP (News - Alert) (Germany)
• Schneider Electric (France)
• Siemens (Germany)
• Uptake
• Wind River (US)
• Zebra Technologies (News - Alert) (US)

For more information about this report visit https://www.researchandmarkets.com/research/cbhg7l/global_45_3?w=4

View source version on businesswire.com: http://www.businesswire.com/news/home/20180129006010/en/

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