Internet of Things (IoT) Market 2020-2024 | Insights by Types, Applications, Market Drivers, Industry Segmentation and Forecast Analysis

Internet of Things (IoT)

The Key purpose of “Internet of Things (IoT) Market” report is to deliver key market trends, the scope of report, competitive landscape and industry overview with key players. Internet of Things (IoT) market report is designed by a detailed investigation process to collect all the necessary data. Further, the report studies the revenue generated from the market analysis and opportunity analysis to estimate the market size.

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Internet of Things (IoT) Market Covers Key Players:

  • Cisco Systems Inc.
  • General Electric
  • Intel Corporation
  • IBM Corporation
  • Verizon Communication Inc.
  • AT&T Inc.
  • Qualcomm
  • Siemens AG
  • Microsoft Corporation
  • SAP SE

    Market Overview:

  • The internet of things (IoT) market in manufacturing was valued at USD 187.33 billion in 2018 and is expected to reach USD 487.30 billion by 2024, witnessing a CAGR of 18.07% during the forecast period of 2019 -2024. As the demand for traceability and transparency rose in the last two decades, companies have started making the processes involved in the production of their product transparent. Data collection and analysis through IoT devices makes the whole process transparent for manufacturers.
  • – With the number of networked sensors increasing across production, supply chain and products, manufacturers are beginning to enter into a new generation of systems that enables automatic and real-time interactions among machines, systems, assets and things. The pervasiveness of connected devices is finding applicability across multiple segments of manufacturing and supply chain throughout the value chain.
  • – IoT in manufacturing can facilitate the production flow in a plant, as IoT devices automatically monitor development cycles, and manage warehouses as well as inventories. It is one of the reasons investment in IoT devices has skyrocketed over the past few decades. IoT in manufacturing, logistics and transportation is expected to rise to USD 40 billion by 2020.

    The Internet of Things (IoT) Market Report Includes:

    • The Internet of Things (IoT) market report covers the present status and future prospects.
    • The report analyses market trends, size, and forecast in different geographically.
    • The report provides market competition overview among the Top companies.
    • The report provides a complete analysis of the current and emerging market trends and opportunities.

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    Scope of the Report:

  • Internet of Things (IoT) market in manufacturing is adding value to manufacturers, by making the proper decision regarding lead time, demand, inventory in hand, stockout, product visibility, inventory turnover, forecasting, and sales. It also helps the manufacturer to connect with both the upstream consumers and downstream suppliers, improving vendor relationships. IoT with its data properly manages and stores the bulks of data gathered from the transportation of raw material to final product delivery even up to after-sales service for a manufacturer. According to the application, one can use IoT services with various software depending upon the network connectivity.

    Key Market Trends:

    Supply Chain and Logistics Management Application to Spur Growth in the Market

    – There has been a substantial change in the supply chain, with the adoption of mobile devices and sensors which include RFID and GPS, to track inventory and assets in warehouses.
    – Improved inventory management due to the availability of real-time visibility of items and the ability to track and keep a count of inventory, is a very important outcome of the implementation of IoT in manufacturing industries.
    – The collection of manufacturing information, expiry date, manufacturing date, after sales status, and warranty period, using tracking devices like RFID tags, will improve efficiency in supply chain monitoring in the manufacturing process.
    – According to SAS Institute, United Kingdom will get the most benefit from the manufacturing sector with IoT giving approximately around GBP 4032 million of the total economy. Similarly, other economies as well are expectde to invest heavily in automation of supply chain thereby driving the IoT adoption in overall manufacturing sector.

    North America to be the Largest Market

    – The market for IoT in manufacturing is mainly dominated by North America. This region has developed economies like the United States and Canada, which are heavily investing in the research and development (R&D) activities related to the market, thus contributing to the development of new technologies. With the early adoption of trending technologies, such as Mobility, Big Data, IoT, manufacturers are eager to integrate IoT technologies into their processes.
    – Connected devices and data flow already finding their applications in manufacturing. Therefore, it is now possible to expected accelerated deliveries, as the cost of infrastructure is reduced. To stay competitive, manufacturers are leveraging IoT and analytics, to run and improve businesses. In the United States, about 35% of manufacturers collect and use data generated from smart sensors, to enhance manufacturing processes.
    – According to a study, around 34% of the manufacturers believe it is extremely necessary that US manufacturers adopt IoT in operations. For manufacturers, IoT has become an ecosystem where software, cloud computing, and analytics tools are combined, to turn raw data from different sources into meaningful predictions and present them in easy-to-use interfaces. By 2025, the number of connected devices in the automation sector is expected to increase by a factor of 50.

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    Important Questions Answered in The Internet of Things (IoT) Market Report:

    • What is the main factor that takes this market to the next level?
    • What will the market demand and what will be growth?
    • What are the latest opportunities for the Internet of Things (IoT) Market in the future?
    • What are the strengths of the main players?
    • What is the key to the Internet of Things (IoT) Market?

    Detailed TOC of Internet of Things (IoT) Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rapid Growth and Technological Advancements in Data Analytics
    4.2.2 Improved Supply Chain Management and Logistics at Lower Operational Costs
    4.3 Market Restraints
    4.3.1 Lack of Standardized Interfaces and Limited Integration and Scalability
    4.3.2 Security and Privacy Issues
    4.4 Opportunities
    4.4.1 Intersection of IoT and Big Data Essential to the Future of Smart Manufacturing
    4.5 Industry Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Bargaining Power of Suppliers
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Threat of New Entrants
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry
    4.7 Industry Policies
    4.8 Technology Snapshot

    5 MARKET SEGMENTATION
    5.1 By Software
    5.1.1 Application Security Software
    5.1.2 Data Management and Analytics Software
    5.1.3 Monitoring Software
    5.1.4 Network Management
    5.1.5 Other Softwares
    5.2 By Connectivity
    5.2.1 Satellite Network
    5.2.2 Cellular Network
    5.2.3 RFID
    5.2.4 NFC
    5.2.5 Wi-Fi
    5.2.6 Other Connectivities
    5.3 By Services
    5.3.1 Professional Services
    5.3.2 System Integration and Deployment Services
    5.3.3 Managed Services
    5.3.4 Other Services
    5.4 By Application
    5.4.1 Process Optimization
    5.4.2 Predictive Maintenance
    5.4.3 Asset Management
    5.4.4 Workforce Management
    5.4.5 Emergency and Incident Management
    5.4.6 Logistics and Supply Chain Management
    5.4.7 Inventory Management
    5.5 By End-user Vertical
    5.5.1 Automotive Manufacturing
    5.5.2 Food and Agriculture Equipment Manufacturing
    5.5.3 Industrial Equipment Manufacturing
    5.5.4 Electronics and Communication Equipment Manufacturing
    5.5.5 Chemicals and Materials Equipment Manufacturing
    5.5.6 Other End-user Verticals
    5.6 Geography
    5.6.1 North America
    5.6.2 Europe
    5.6.3 Asia-Pacific
    5.6.4 Latin America
    5.6.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Cisco Systems Inc.
    6.1.2 General Electric
    6.1.3 Intel Corporation
    6.1.4 IBM Corporation
    6.1.5 Verizon Communication Inc.
    6.1.6 AT&T Inc.
    6.1.7 Qualcomm
    6.1.8 Siemens AG
    6.1.9 Microsoft Corporation
    6.1.10 SAP SE

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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