The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Rising need for operational efficiency and increasing penetration of connected devices are driving the IoT in manufacturing market”The IoT in manufacturing market size is estimated to grow from USD 4.11 billion in 2015 to USD 13.49 billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 26.9%. This growth is driven by factors such as need for operational efficiency, decreasing hardware and connectivity cost and increasing penetration of connected devices.
“NFC is expected to gain maximum traction during the forecast period”
Near Field Communication (NFC) is estimated to grow at the highest CAGR during the forecast period due to decrease in hardware cost. Managed service is expected to grow at the highest rate between 2015 and 2020. Due to increasing technological adoption, Asia-Pacific (APAC) is projected to witness fastest growth rate among regions.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain and verify critical qualitative and quantitative information as well as assess future market prospects. Distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier2-27%, and Tier 3-13%
- By Designation: C-Level-50%, Director Level-30%, and Others*-20%
- By Region: North America-30%, Europe-20%, Asia-Pacific-20%, and RoW-30%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion and Tier 3 = The latest trends in IoT in manufacturing include growing IoT integration across different verticals, diversification of IT giants toward providing analytics and security software, and cost benefits of predictive maintenance. The availability of cloud deployment options for IoT manufacturing has further provided a huge opportunity.
The key innovators profiled in the report are as follows:
- General Electric
- Zebra Technologies
- Bosch Software Innovation
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the IoT in manufacturing market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- The report would the stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to strengthen their position in the business. The competitive landscape section includes new product development, partnerships, mergers and acquisitions.