MarketStudyReport.com offers 2017 report on Global IoT in Manufacturing market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2017-2024.
Selbyville, DE -- (SBWIRE) -- 11/09/2018 -- Rising implementation of IoT in the manufacturing sector to gain control over the operations and the supply chain process is anticipated to drive the industry over the forecast timeframe. Increasing adoption of cloud platforms across various industries offer lucrative growth opportunities to the industry growth. The technology has a huge potential to enhance the visibility in industrial operations by gaining insights to every step of the production and supply chain process in real-time. IoT in Manufacturing Market is set to exceed USD 150 billion by 2024; according to a new research report.
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The virtual tracking of the firm assets, operations, processes, products and other resources enables businesses to have complete visibility resulting in streamlined process and optimizing the industrial demand and supply. Rising demand for improvising the operational efficiency followed by reduction in costs associated with various manufacturing process is expected to propel the IoT in manufacturing market growth.
Rising cyber-attacks across the industry is anticipated to challenge the IoT in manufacturing market growth. Enormous volume of data is generated from the devices making it vulnerable to breaches, raising concerns regarding data security & privacy. Lack of standards followed by the low number of skilled staffs will further hamper the demand.
Complexities associated with IoT network coupled with lack of sufficient resources are expected to boost the demand for managed services across the users. Businesses are currently focusing on managed services pertaining to the cost-effectiveness associated with such services coupled with their growing IT infrastructure.
Growing demand of the automotive IoT market is expected due to the rising implementation of advanced digital technologies in the vehicles to offer enhanced customer experience. Rising number of automotive OEMs from the emerging markets have intensified the competition in terms of quality and begin targeting the developed regions.
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Asia Pacific IoT in manufacturing market is anticipated to witness growth owing to the emerging industrial sector in countries such as China, India, South Korea and Taiwan. The auto industry in India accounts for over 7% of India's GDP. Improving government framework, growing domestic industry, developing infrastructure and the Make in India initiative are attracting major investments in the auto sector which will allow the implementation of several digital technologies in the country driving the IoT demand. Moreover, rising consumer demand in the food & beverage sector in Asia Pacific require higher fulfilment agility that is resulting in rising demand of advanced technologies to have a proper real-time course correction and supply chain monitoring further, driving the IoT in manufacturing market.
Players in the IoT in manufacturing market include Huawei Technologies, Rockwell Automation, Siemens AG, Microsoft Corporation, IBM Corporation, Intel Corporation and Cisco Systems. Other prominent players include PTC Inc, Bosch GmbH, Schneider Electric and Zebra Technologies. The industry is witnessing entry of new players brining in innovations and advanced technologies resulting in increasing competition. High demand across various manufacturing facilities to streamline the business processes is anticipated to propel growth.
Table of Contents
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Industry Insights
Chapter 4. IoT in Manufacturing Market, By Platform
Chapter 5. IoT in Manufacturing Market, By Technology
Chapter 6. IoT in Manufacturing Market, By Component
Chapter 7. IoT in Manufacturing Market, By Service
Chapter 8. IoT in Manufacturing Market, By Industry
Chapter 9. IoT in Manufacturing Market, By Region
Chapter 10.IoT in Manufacturing Market Company Profiles
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