IoT in Manufacturing Market Technological Innovations and Future Opportunities 2024
Category: #technology  By Ronak Bora  Date: 2020-01-15
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IoT in Manufacturing Market Technological Innovations and Future Opportunities 2024

Global IoT in manufacturing market can be segmented into RFID, sensors and connectivity technology segments, the demand for which will be defined by evolving customer needs and scope of businesses investments. Besides enabling predictive maintenance to reduce operational costs, better quality control and higher security, these technologies also help businesses to stay compliant with international standards and strict government regulations.

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IoT in manufacturing market valuation is expected to rise exponentially by 2024 owing to rising adoption of connected devices and increased investment towards digital transformation. Growing number of challenges in terms of maintaining productivity and economies of scale will stimulate process automation and endorse the deployment of internet of things technology.

Advent of industry 4.0 solutions that meet the requirements of cost efficiency, quality improvements and reduced environmental impact will notably boost the development of IoT smart manufacturing concepts. Accelerating consumption of new food and beverage products will drive production activities globally, expanding IoT in manufacturing market share.

Streaming analytics and remote monitoring components, as part of IoT in manufacturing sector, can be expected to register substantial gains over the projected timeframe due to their ability to leverage valuable business data. Streaming analytics has become necessary to analyze continuously gathered raw data for responding in real-time and generate alerts. These data can originate from several sources at a manufacturing facility, including a slew of IoT devices on the production lines. Transforming this information into actionable insights to overcome business challenges will bolster IoT in manufacturing market outlook.

The overall cost of an attack does not only include the theft of information, but in many cases also leads to business interruption and machine downtime. Machine downtimes in the U.K. cost around USD 22 billion each year, suggesting the importance of security components in IoT in manufacturing market.

Global automobile sector has witnessed considerable changes in recent years, particularly among leading auto manufacturers who have implemented modernized assembly lines to increase capacity and speed of production. Although demand for conventional fossil fuel-based vehicles is anticipated to experience a decline over the forecast period, production of more energy efficient cars and trucks will sustain manufacturing activities.

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The sale of plug-in vehicles had crossed 2.1 million units in 2018, which was a 64% growth over the previous year, implying massive prospects for IoT in manufacturing market from the automotive sector, to build more eco-friendly cars efficiently.

Key players comprising the competitive landscape of IoT in manufacturing market include global companies such as IBM, ABB, Honeywell, SAP, Intel, Microsoft, Bosch and Qualcomm, among several others. Constant efforts to acquire promising business to expand customer reach as well as to strengthen portfolio of services will underscore the industry trends. Emergence of faster mobile communication technologies will substantially influence product development and strategies to meet any future changes in the IoT network environment.

Some Points From Table Of Content: -

Chapter 4.   IoT in Manufacturing Industry, By Platform

4.1.  Global IoT in manufacturing industry 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 Industry, By Technology

5.1.  Global IoT in manufacturing industry 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 Content @ http://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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