IoT in Manufacturing Market growing at a CAGR of 14.50% over 2022-2032, at to reach USD 399.08 billion by 2026, Says FMI

The IoT devices and next-generation manufacturing industry has experienced a tremendous increase in industrial automation in recent years. As a result, IoT gateway manufacturers are more concerned with generating high volume and quality products due to increased market rivalry and end-user demand. 

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As a result, they've decided to concentrate on the factory's essential areas, such as the IoT sensors for manufacturing, asset monitoring, and asset maintenance and support. As a result, manufacturers would be able to minimize direct human labor costs and expenses, boost productivity, improve a process or product consistency, and produce high-quality goods by using automation. 

Control systems, such as computers or robots, are used in industrial automation processes to monitor and control machinery. In the manufacturing IoT sensors industry, a critical role is played by improving the process of industrial automation. 

The global economy has been influenced by COVID-19. Energy, oil and gas, transportation and logistics, manufacturing, and aviation are among the financial and industrial sectors with a large economic influence. As a result, the world economy is expected to enter a recession due to the loss of billions of dollars. 

"Economic activity is diminishing as a result of an increasing number of nations implementing and prolonging lockdowns, which will have an impact on the global economy. To boost flexibility and offer better production, IoT helps produce cooperative communications and interaction from IoT solutions for manufacturing industry field input or output including actuators, robots, and analyzers." - opines an FMI analyst.

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Key Takeaways:

Competitive Landscape

Cisco (US), IBM (US), PTC (US), Microsoft (US), Siemens AG (Germany), GE (US), SAP (Germany), Huawei (China), ATOS (France), HCL (India), Intel (US), Oracle (US), Schneider Electric (France), Zebra Technologies (US), Software AG (Germany), Wind River (US), Samsara (US), Telit (UK), ScienceSoft (US), Impinj (US), Bosch.IO (Germany), Litmus Automation (US (US). To extend their portfolios and market shares in the worldwide IoT in manufacturing market, these companies have used various organic and inorganic growth tactics, such as new product releases, partnerships and collaborations, and acquisitions.

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Key Market Segments

By Component:

By Solution:

By Services:

By Organisation Size:

By Deployment Mode:

By Application:

By Vertical:

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Key Questions Answered in the Report

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About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. 

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