Meticulous Research®—a leading global market research company, published a research report titled, ‘IoT in Manufacturing Market by Component (Platform, Connectivity), Application (Resource Optimization, Machine Inspection & Maintenance), End User (Automotive, Medical Devices) and Geography—Global Forecast to 2029.’ According to this latest publication from Meticulous Research®, the IoT in Manufacturing Market is expected to register a CAGR of 13.7% from 2022–2029 to reach $233.6 billion by 2029. The rising demand for industrial automation in manufacturing and growing investments in Industry 4.0 are the major factors driving the growth of this market. However, data security and privacy issues in IoT can restrain market growth to a certain extent. Emerging 5G technology to help IoT adoption is expected to offer significant opportunities for the growth of this market. The global IoT in manufacturing market is segmented by component, deployment mode, organization size, application, end user, and geography. The study also evaluates industry competitors and analyses the market at the country level. Download Research Sample @ https://www.meticulousresearch.com/download-sample-report/cp_id=5371 Based on component, the global IoT in manufacturing market is segmented into hardware, platform, services, and connectivity. In 2022, the hardware segment is expected to account for the largest share of the global IoT in manufacturing market. The large market share of this segment is attributed to factors such as consistent engagement of the manufacturing sector in improving efficiency, reducing costs, and increasing overall equipment effectiveness (OEE). However, the platform segment is expected to register the highest CAGR during the forecast period. The rising adoption of IoT platforms in the manufacturing sector by various end users to improve operational efficiency drives the segment’s growth. Speak To Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5371 Geographic Review: Based on geography, the global IoT in manufacturing market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the global IoT in manufacturing market. Factors such as favorable government initiatives, technological innovation, the growing number of industrial organizations, and the increasing adoption of IoT devices to optimize operational efficiency drive the market’s growth. The region is also a hotbed of industrial robotics innovation, with China, Japan, and South Korea the three largest global markets. In addition, half of all APAC manufacturers are expected to have smart factories within three years. Quick Buy: https://www.meticulousresearch.com/Checkout/56276327

According to a new market research report titled, ‘Smart Factory Market by Component, Technology, and End-use Industry (Automotive, Heavy Machinery & Tools, Aerospace & Defense, Metals & Mining, Electronics & Semiconductors, and Other End-use Industries)—Global Forecast to 2029’, the global smart factory market is projected to reach $262.2 billion by 2029, at a CAGR of 21.3% from 2022 to 2029. Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5365 A smart factory is a digitized manufacturing facility that uses connected devices, machinery, and production systems to continuously collect and share data. It is a factory where physical production processes and operations are combined with digital technology, smart computing, and big data to create a more opportunistic system for companies that focus on manufacturing and supply chain management. Smart factory solutions are increasingly gaining traction due to their increasing adoption across various industries, including automotive, heavy machinery & tools, aerospace & defense, metals & mining, electronics & semiconductors, medical devices, and food & beverage. The growth of the global smart factory market is driven by the surge in demand for smart and connected solutions across industry verticals, increasing investments in industry 4.0, and the increasing adoption of robots in the manufacturing sector. However, high capital and operating expenses are notable restraints for the market growth. The implementation of smart factory solutions in developing countries and the increasing developments in wireless sensor networks and their adoption in smart factories are expected to offer significant growth opportunities for the players operating in this market. However, vulnerability to cyberattacks and the rising data sensitivity & security concerns pose serious challenges to the growth of the smart factory market. Impact of COVID-19 on the Smart Factory Market The COVID-19 outbreak significantly influenced the manufacturing industry by exposing its dependency on manual labor and highlighted the importance of adopting advanced technologies such as AI, machine learning, and IoT to implement smart factories. Thus, there is an increasing demand for smart factory solutions in production processes from various industries. The implementation of smart factory solutions is highly regarded to drive improved productivity, higher production quality, near-zero design errors, enhanced energy efficiency, leaner process, flexibility in production scale, increased agility, improved predictability, and enhanced process monitoring in warehouses. These benefits align with the requirement of the new dynamic protocols, which influence the adoption of smart technologies to develop smart factories, digital automation solutions, and industrial IoT solutions across different industry verticals. Smart manufacturing improves companies' productivity and optimizes the workforce. It also offers remote factory monitoring functionalities at greater efficiency, irrespective of time and place constraints. Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5365

IoT in Manufacturing Market Worth $233.6 Billion by 2029 According to a new market research report titled, ’IoT in Manufacturing Market by Component (Platform, Connectivity), Application (Resource Optimization, Machine Inspection & Maintenance), End User (Automotive, Medical Devices) and Geography—Global Forecast to 2029’, the global IoT in manufacturing market is expected to register a CAGR of 13.7% from 2022–2029 to reach $233.6 billion by 2029. Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5371 The rising demand for industrial automation in manufacturing and growing investments in Industry 4.0 are the major factors driving the growth of this market. However, data security and privacy issues in IoT can restrain market growth to a certain extent. Emerging 5G technology to help IoT adoption is expected to offer significant opportunities for the growth of this market. Impact of COVID-19 on the IoT in Manufacturing Market Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5371 Quick Buy – IoT in Manufacturing Market- Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/56276327 To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/iot-in-manufacturing-market-5371 Scope of the Report: IoT in Manufacturing Market, by Component Hardware Platform Network Management Device Management Application Management Data Management Services Connectivity Satellite Network Cellular Network Near Field Communication (NFC) Other Connectivity Modes IoT in Manufacturing Market, by Deployment Mode On-premise Deployment Mode Cloud-based Deployment Mode IoT in Manufacturing Market, by Organization Size Small and Medium-sized Enterprises (SMEs) Large Enterprises IoT in Manufacturing Market, by Application Surveillance & Safety Quality Management Resource Optimization Inventory & Warehouse Management Machine Inspection & Maintenance Production Planning Energy Management Smart Robotics IoT in Manufacturing Market, by End User Automotive Electronics & Semiconductors Heavy Metals & Machine Manufacturing Energy & Utility Aerospace and Defense Medical Devices Pharmaceuticals Other End Users IoT in Manufacturing Market, by Geography North America U.S. Canada Europe U.K. Germany France Italy Spain Rest of Europe Asia-Pacific Japan China India South Korea Rest of Asia-Pacific Latin America Middle East & Africa Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5371 Related Report: Smart Manufacturing Market - Global Opportunity Analysis and Industry Forecast (2022–2029) https://www.meticulousresearch.com/product/smart-manufacturing-market-5265

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