Internet of Things (IoT) in Manufacturing - Global Strategic Business Report

The global market for Internet of Things (IoT) in Manufacturing was estimated at US$85.3 Billion in 2023 and is projected to reach US$179.6 Billion by 2030, growing at a CAGR of 11.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Internet of Things (IoT) in Manufacturing Market - Key Trends and Drivers Summarized

How Is the Internet of Things (IoT) Revolutionizing Manufacturing?

The Internet of Things (IoT) is revolutionizing the manufacturing industry by enabling smart factories, enhancing operational efficiency, and improving supply chain visibility. IoT devices such as sensors, connected machines, and automated systems collect and transmit data in real-time, allowing manufacturers to monitor production lines, manage inventory, and optimize equipment performance. Smart manufacturing powered by IoT enables predictive maintenance, ensuring that equipment is maintained before breakdowns occur, reducing downtime and extending machinery life. IoT solutions also provide manufacturers with greater visibility into their supply chains, enabling better demand forecasting, inventory management, and logistics optimization, which leads to cost savings and more responsive production processes.

How Are Technological Advancements Shaping IoT in Manufacturing?

Technological advancements in sensor technology, AI, and robotics are driving the adoption of IoT in manufacturing. Sensors embedded in production equipment monitor machine performance, product quality, and energy consumption in real-time, providing valuable data that can be analyzed to optimize production. AI-driven analytics are being used to predict equipment failures, identify inefficiencies, and optimize workflows, enabling manufacturers to make data-driven decisions. Robotics and automation systems are also being integrated with IoT devices to create fully automated production lines that require minimal human intervention, improving efficiency and reducing labor costs. These technological innovations are making IoT-enabled smart manufacturing more efficient, reliable, and cost-effective.

How Do Market Segments Define the Growth of IoT in Manufacturing?

Components include hardware such as sensors and connected machinery, software platforms for data management and analytics, and services such as system integration and maintenance. Applications of IoT in manufacturing include predictive maintenance, quality management, inventory tracking, and production monitoring, with predictive maintenance leading the market as manufacturers prioritize reducing downtime and extending equipment life. Industry verticals include automotive, aerospace, electronics, and food and beverage, with the automotive sector adopting IoT solutions at a higher rate to enhance production efficiency and supply chain management. The market is growing significantly in regions such as North America, Europe, and Asia-Pacific, where industrial automation and smart factory initiatives are driving IoT adoption.

What Factors Are Driving the Growth in the IoT in Manufacturing Market?

The growth in the IoT in manufacturing market is driven by several factors, including the rising demand for operational efficiency, the increasing use of automation, and advancements in predictive maintenance technologies. As manufacturers face growing pressure to improve production efficiency and reduce costs, IoT solutions offer a way to monitor and optimize operations in real time. Technological innovations in AI, machine learning, and robotics are also fueling the growth of IoT in manufacturing by enabling smarter production processes and more effective maintenance strategies. Additionally, the growing trend toward industrial automation and smart factories is pushing manufacturers to invest in IoT solutions that improve productivity, reduce downtime, and enhance supply chain visibility.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Solutions Component segment, which is expected to reach US$103.7 Billion by 2030 with a CAGR of a 10.2%. The Services Component segment is also set to grow at 12.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, which was estimated at $23.1 Billion in 2023, and China, forecasted to grow at an impressive 10.6% CAGR to reach $27.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) in Manufacturing Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) in Manufacturing Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Internet of Things (IoT) in Manufacturing Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Internet of Things (IoT) in Manufacturing market such as Arcstone, Bosch, Cisco Systems, Clearblade, Elmodis and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 37 companies featured in this Internet of Things (IoT) in Manufacturing market report include:

• Arcstone
• Bosch
• Cisco Systems
• Clearblade
• Elmodis
• General Electric (US)
• Huawei (China)
• IBM
• Impinj
• Konux
• Litmus Automation
• Microsoft
• Mocana
• New Icon
• PalleTech
• PTC
• SAP
• Schneider Electric
• SensEye
• Siemens
• SupraControl
• Uptake
• Water.IO
• Wind River
• Zebra Technologies