IoT in Manufacturing Market Future Challenges and opportunity by 2024
Category: #headlines  By Ronak Bora  Date: 2022-07-12
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IoT in Manufacturing Market Future Challenges and opportunity by 2024

IoT in manufacturing market size is significantly bolstered by the rising awareness of IoT based systems to effectively manage and optimize production activities along with myriad digital advantages. IoT based production systems offer numerous benefits including security, productivity and innovation with the effective interlinking of many devices in the sophisticated internet infrastructure. The IoT in manufacturing market share is anticipated to surpass $160 billion by 2024.

Growth in the industry can be ascribed to the advent of cloud computing, rising prevalence of sensors and strong internet connectivity across numerous sectors. The systems present manufacturers the opportunities to attain critical, real time-data pertaining to effective decision making and management.

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In terms of application, the automotive segment of the market is likely to witness substantial growth owing to proliferating use of cutting-edge digital technologies in the vehicles consequently enriching customer experience. As competition and customer expectations surge, the onus is on emerging automotive OEMs to develop unique product features that appeal to a younger, more digitally savvy consumer audience by offering advanced digital connectivity.

In the APAC region, industry is expected to amass considerable proceeds owing to emerging trends in the auto sector across myriad countries including India, China, Taiwan and South Korea, among others. As a matter of fact, the Indian automotive industry holds over 7% of the GDP. Advancements in the domestic industry, infrastructural reforms and favorable government initiatives like Make in India are encouraging growing investments in the sector, thereby sustaining the adoption of advanced digital technologies, impelling IoT demand in the region.

The booming manufacturing sector across nations like Brazil and Mexico is presenting a wealth of business opportunities for the market in Latin America. In fact, the Latin America IoT in manufacturing industry is predicted to depict a CAGR of over 26% through 2024.

Economic advancements and increasing support from regulatory authorities have led to the emergence of many electronics and automotive manufacturers in Latin America, adding impetus to market expansion.

The Prominent companies are ABB Ltd., Honeywell International Inc., IBM Corporation, Intel Corporation, PTC Inc., SAP SE, Microsoft Corporation, Hitachi Ltd., Dell Inc., Robert Bosch GmbH

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Table of Content

Chapter 4.   IoT in Manufacturing Market, By Platform

4.1.  Global market share by platform, 2016 & 2024

4.2.  Network management

4.2.1. Market estimates and forecast, 2013 - 2024

4.2.2. Market estimates and forecast, by region, 2013 - 2024

4.3.  Device management

4.3.1. Market estimates and forecast, 2013 - 2024

4.3.2. Market estimates and forecast, by region, 2013 – 2024

4.4.  Application management

4.4.1. Market estimates and forecast, 2013 - 2024

4.4.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5.   IoT in Manufacturing Market, By Technology

5.1.  Global market share by technology, 2016 & 2024

5.2.  Sensor

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2. Market estimates and forecast, by region, 2013 – 2024

5.3.  RFID

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2. Market estimates and forecast, by region, 2013 – 2024

5.4.  Connectivity technology

5.4.1. Market estimates and forecast, 2013 - 2024

5.4.2. Market estimates and forecast, by region, 2013 - 2024

5.5.  Others

5.5.1. Market estimates and forecast, 2013 - 2024

5.5.2. Market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/iot-in-manufacturing-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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