Kenneth Research, in its repository of market research reports, have recently added a report on IoT in Manufacturing Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The IoT in Manufacturing Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global IoT in Manufacturing Market industry valued approximately USD 10.11 billion in 2016 is anticipated to grow with a healthy growth rate of more than 30.26% over the forecast period 2017-2025. The major factors driving the growth are rising need for predictive maintenance, the introduction of intelligent machine applications, and escalating regulatory compliances.
The objective of the study is to define market sizes of different segments & countries in previous years and to forecast the values to the next eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as drivers & restraining factors which will define the future growth of the market. Additionally, it will also incorporate the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
*Business Process Optimization (BPO)
*Supply Chain Management
*Aerospace & Defense
*Chemicals & Material
*Energy & Utilities
*Food & Beverages
Rest of the World
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Furthermore, the years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market are Microsoft Corp., PTC Inc., Siemens AG, IBM Corp., Zebra Technologies, Bosch Software Innovations GmbH, Cisco Systems Inc., and Huawei. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. Investment in research and development, new product launches and focuses on continuous technology innovations are also strategies adopted by the major players.
Target Audience of the IoT in Manufacturing Market Study
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Value-Added Resellers (VARs)
*Third-party knowledge providers
Chapter 1. Research Methodology
1.1. Research Process
1.1.1. Data Mining
1.1.3. Market Estimation
1.2. Research Assumption
Chapter 2. Global IoT in Manufacturing Market Definition & Scope
2.1. Objective of The Study
2.2. Market Definition
2.3. Scope of The Study
2.4. Years Considered for The Study
2.5. Currency Conversion Rates
2.6. Report Limitation
Chapter 3. Executive Summary
3.1. Key Trends
3.2. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion/Million)
Chapter 4. Global IoT in Manufacturing Industry Dynamics
4.1. Growth Prospects
4.2. Industry Analysis
4.2.1. Porterâ€™s 5 Force Model
4.2.2. PEST Analysis
4.2.3. Value Chain Analysis
4.3. Analyst Recommendation & Conclusion
Chapter 5. Global IoT in Manufacturing Market by Solution
5.1. Market Snapshot
5.2. IoT in Manufacturing Market, Sub Segment Analysis
5.2.1. Network Management
188.8.131.52. Market estimates & forecasts, 2015-2025 (USD Billion/Million)
184.108.40.206. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion/Million)
5.2.2. Data Management
220.127.116.11. Market estimates & forecasts, 2015-2025 (USD Billion/Million)
18.104.22.168. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion/Million)
5.2.3. Device Management
22.214.171.124. Market estimates & forecasts, 2015-2025 (USD Billion/Million)
126.96.36.199. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion/Million)
5.2.4. Application Management
188.8.131.52. Market estimates & forecasts, 2015-2025 (USD Billion/Million)
184.108.40.206. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion/Million)
5.2.5. Smart Surveillance
220.127.116.11. Market estimates & forecasts, 2015-2025 (USD Billion/Million)
18.104.22.168. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion/Million)
Chapter 6. Global IoT in Manufacturing Market by Services
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