Internet of Things (Iot) in Manufacturing Market Size to Reach $20.59 Billion by 2021: Gaining ...

DUBLIN, Jan. 31, 2017 /PRNewswire/ —

Research and Markets has announced the addition of the “IoT in Manufacturing Market – Global Forecast to 2021” report to their offering.

IoT in Manufacturing market size to grow from USD 6.17 Billion in 2016 to USD 20.59 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.2%.

Manufacturing enterprises are focusing toward increasing their business processes and production output with optimum resource utilization. IoT in manufacturing is gaining traction with the advent of smart devices, advanced data analytics techniques, and increasing need of manufacturers to deploy IoT enabled sub-systems so as to increase the overall efficiency. Industrial IoT vendors are also achieving control over multiple heterogonous manufacturing processes by integrating advanced IoT platforms and solutions to automate manufacturing operations. Industrial IoT delivers transformational value in productivity and competitiveness through data analytics & real-time computing systems and controls the overall industrial process with high precision.

Smart manufacturing allows users to track the real-time data of all the manufacturing processes. The data generated through IoT devices can be integrated and analyzed with the help of different analytics techniques. The report generated after data analysis is used by process engineers, yield engineers, and factory managers for decision making. Hence, smart manufacturing is instrumental in transforming businesses into pre-emptive, autonomic organizations that can forecast & resolve disruptive issues, develop operations & delight customers, while increasing the bottom line and productivity.

Lack of standards for interconnectivity & interoperability and data security & privacy concerns are some of the restraining factors for the IoT in manufacturing market. However, the recent developments, new product launches, and acquisitions of major market players in the IoT in manufacturing arena are boosting the growth of the market.

Companies Mentioned:

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 IoT in Manufacturing Market Analysis, By Component

8 IoT in Manufacturing Market Analysis, By Software

9 IoT in Manufacturing Market Analysis, By Platform

10 IoT in Manufacturing Market Analysis, By Service