The Worldwide Indsutry for IoT in Manufacturing is Expected to Reach $53.8 Billion by 2025
DUBLIN, Jan. 5, 2021 /PRNewswire/ -- The "IoT in Manufacturing Market by Component (Solutions (Network Management and Data Management) and Services (Professional and Managed)), Deployment Mode, Organization Size, Application, Vertical (Process and Discrete), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The IoT in manufacturing market size is projected to grow from USD 33.2 billion in 2020 to USD 53.8 billion by 2025, at a CAGR of 10.1%
The major factors driving the growth of the IoT in manufacturing market include growing demand for industrial automation in the manufacturing industry, rising need for centralized monitoring and predictive maintenance of assets, rise in the number of cost-effective and intelligent connected devices and sensors, increasing need for reliable, secure, and high-speed network connectivity, and increased adoption of cloud computing platforms.
Based on component, the solutions segment leads the IoT in the manufacturing market during the forecast period
With the increased number of networked sensors growing across the production sector, logistics and supply chain manufacturers are getting into a new generation of systems that enable various solutions, such as data management, device management, application management, network management, and smart surveillance. The ubiquity of these solutions and connected devices is finding applicability across multiple segments of the manufacturing and supply chain industry throughout the value chain. Organizations across the manufacturing industry are adopting IoT solutions and services, as it enables them to monitor their assets and increase operational efficiency. Maintenance, repair, and operations of assets are of the utmost importance in any asset-intensive in$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 Insights 4.1 Attractive Opportunities in IoT in Manufacturing Market 4.2 Asia-Pacific Market, by Solution and Country 4.3 Market: Major Countries
5 Market Overview and Industry Trends 5.1 Market Overview 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Growing Demand for Industrial Automation in Manufacturing Industry 5.2.1.2 Rising Need for Centralized Monitoring and Predictive Maintenance of Assets 5.2.1.3 Rise in the Number of Cost-Effective and Intelligent Connected Devices and Sensors 5.2.1.4 Increasing Need for Reliable, Secure, and High-Speed Network Connectivity 5.2.1.5 Increased Adoption of Cloud Computing Platforms 5.2.2 Restraints 5.2.2.1 Privacy and Security Concerns Over the Use of Iot 5.2.2.2 Lack of Interoperability and Common Standards 5.2.3 Opportunities 5.2.3.1 Rising Number of Data Centers 5.2.3.2 Emerging 5G Technology to Help IoT Adoption Globally 5.2.3.3 Increase in Smart Manufacturing Initiatives Worldwide 5.2.4 Challenges 5.2.4.1 Lack of Skilled Workforce for Operating Iot-Based Equipment 5.2.4.2 Huge Initial Investments Required for Implementing IoT in Smart Manufacturing 5.3 Impact of COVID-19 on IoT in Manufacturing Market Dynamics Analysis 5.3.1 Drivers and Opportunities 5.3.2 Restraints and Challenges 5.3.3 Cumulative Growth Analysis 5.4 Value Chain Analysis 5.5 Ecosystem 5.6 Average Selling Price Trend 5.7 Case Study Analysis 5.8 Impact of Disruptive Technologies 5.9 Regulatory Bodies in IoT in Manufacturing Market
6 IoT in Manufacturing Market, by Component 6.1 Introduction 6.2 Solutions 6.2.1 Solutions: COVID-19 Impact 6.2.2 Solutions: Market Drivers 6.3 Services 6.3.1 Services: COVID-19 Impact 6.3.2 Services: Market Drivers
7 IoT in Manufacturing Market, by Solution 7.1 Introduction 7.2 Network Management 7.2.1 Network Management: Market Drivers 7.2.2 Network Bandwidth Management 7.2.3 Network Security Management 7.2.4 Network Performance Monitoring and Management 7.2.5 Network Configuration Management 7.3 Data Management 7.3.1 Data Management: IoT in Manufacturing Market Drivers 7.3.2 Data Integration 7.3.3 Data Security 7.3.4 Data Migration 7.3.5 Data Analytics and Visualization 7.3.6 Metadata Management 7.3.7 Data Governance 7.3.8 Data Orchestration 7.4 Device Management 7.4.1 Device Management: IoT in Manufacturing Market Drivers 7.4.2 Device Provisioning and Authentication 7.4.3 Device Configuration Management 7.4.4 Monitoring and Troubleshooting 7.5 Application Management 7.5.1 Application Management: Market Drivers 7.6 Smart Surveillance 7.6.1 Smart Surveillance: IoT in Manufacturing Market Drivers 7.6.2 Central Monitoring System 7.6.3 Video Analytics and Events
8 IoT in Manufacturing Market, by Service 8.1 Introduction 8.2 Managed Services 8.2.1 Managed Services: Market Drivers 8.2.2 Infrastructure Management Services 8.2.3 Infrastructure Management Services: IoT in Manufacturing Market Drivers 8.2.4 Security Management Services 8.2.5 Security Management Services: Market Drivers 8.2.6 Network Management Services 8.2.7 Network Management Services: Market Drivers 8.2.8 Data Management Services 8.2.9 Data Management Services: IoT in Manufacturing Market Drivers 8.2.10 Device Management Services 8.2.11 Device Management Services: Market Drivers 8.3 Professional Services 8.3.1 Professional Services: Market Drivers 8.3.2 IoT Consulting Services 8.3.3 IoT Consulting Services: Market Drivers 8.3.3.1 Technology Consulting Services 8.3.3.2 Business Consulting Services 8.3.3.3 Operational Consulting Services 8.3.4 IoT Infrastructure Services 8.3.5 IoT Infrastructure Services: IoT in Manufacturing Market Drivers 8.3.5.1 Network Services 8.3.5.2 Deployment Services 8.3.5.3 Cloud Services 8.3.6 System Designing and Integration Services 8.3.7 System Designing and Integration Services: IoT in Manufacturing Market Drivers 8.3.7.1 Platform Development and Integration Services 8.3.7.2 Mobile and Web Application Development Services 8.3.8 Support and Maintenance Services 8.3.9 Support and Maintenance Services: IoT in Manufacturing Market Drivers 8.3.10 Education and Training Services 8.3.11 Education and Training Services: IoT in Manufacturing Market Drivers
9 IoT in Manufacturing Market, by Deployment Mode 9.1 Introduction 9.2 On-Premises 9.2.1 On-Premises: Market Drivers 9.3 Cloud 9.3.1 Cloud: Market Drivers
10 IoT in Manufacturing Market, by Organization Size 10.1 Introduction 10.2 Large Enterprises 10.2.1 Large Enterprises: Market Drivers 10.3 Small and Medium-Sized Enterprises 10.3.1 Small and Medium-Sized Enterprises: Market Drivers
11 IoT in Manufacturing Market, by Application 11.1 Introduction 11.1.1 Applications: COVID-19 Impact 11.2 Predictive Maintenance 11.2.1 Predictive Maintenance: Market Drivers 11.3 Business Process Optimization 11.3.1 Business Process Optimization: IoT in Manufacturing Market Drivers 11.4 Asset Tracking and Management 11.4.1 Asset Tracking and Management: Market Drivers 11.5 Logistics and Supply Chain Management 11.5.1 Logistics and Supply Chain Management: Market Drivers 11.6 Real-Time Workforce Tracking and Management 11.6.1 Real-Time Workforce Tracking and Management: Market Drivers 11.7 Automation Control and Management 11.7.1 Automation Control and Management: IoT in Manufacturing Market Drivers 11.8 Emergency and Incident Management, and Business Communication 11.8.1 Emergency and Incident Management, and Business Communication: Market Drivers
12 IoT in Manufacturing Market, by Vertical 12.1 Introduction 12.1.1 Verticals: COVID-19 Impact 12.2 Process Manufacturing 12.2.1 Process Manufacturing: Market Drivers 12.2.2 Energy and Utilities 12.2.3 Chemicals and Materials 12.2.4 Food and Beverage 12.2.5 Water and Waste Management 12.2.6 Other Verticals 12.3 Discrete Manufacturing 12.3.1 Discrete Manufacturing: IoT in Manufacturing Market Drivers 12.3.2 Automotive 12.3.3 Machine Manufacturing 12.3.4 Semiconductor and Electronics 12.3.5 Medical Devices 12.3.6 Logistics and Transportation
13 IoT in Manufacturing Market, by Region 13.1 Introduction 13.2 North America 13.3 Europe 13.4 Asia-Pacific 13.5 Middle East and Africa 13.6 Latin America
14 Competitive Landscape 14.1 Introduction 14.2 Market Evaluation Framework 14.3 Revenue Analysis of Top Market Players 14.4 Market Share Analysis 14.4.1 Introduction 14.5 Key Players in IoT in Manufacturing Market, 2020 14.6 Company Evaluation Matrix, 2020 14.6.1 Star 14.6.2 Emerging Leader 14.6.3 Pervasive 14.7 Startup/SME Evaluation Matrix, 2020 14.7.1 Progressive Companies 14.7.2 Responsive Companies 14.7.3 Dynamic Companies 14.7.4 Starting Blocks
15 Company Profiles 15.1 Introduction 15.2 Cisco 15.3 IBM 15.4 PTC 15.5 Microsoft 15.6 GE 15.7 SAP 15.8 Siemens Ag 15.9 Huawei 15.10 Bosch.io 15.11 ATOS 15.12 HCL 15.13 Intel 15.14 Oracle 15.15 Schneider Electric 15.16 Zebra Technologies 15.17 Software Ag 15.18 Telit 15.19 Wind River 15.20 Clearblade 15.21 Litmus 15.22 Uptake 15.23 Hqsoftware 15.24 Sciencesoft 15.25 Mocana 15.26 Impinj
16 Adjacent/Related Markets 16.1 IoT Platform Market 16.1.1 Market Definition 16.1.2 Limitations of the Study 16.1.3 Market Overview 16.1.4 IoT Platform Market, by Platform Type 16.1.5 Device Management Platform 16.1.6 Application Management Platform 16.1.7 Connectivity Management Platform 16.1.8 IoT Platform Market, by Application Area 16.1.9 IoT Platform Market, by Vertical 16.1.10 IoT Platform Market, by Region 16.2 IoT Market 16.2.1 Market Definition 16.2.2 Limitations of the Study 16.2.3 Market Overview 16.2.4 IoT Market, by Device and Technology 16.2.5 IoT Market, by Software 16.2.6 IoT Market, by Vertical 16.2.7 IoT Market, by Region
17 Appendix
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