IoT in Manufacturing Market by Solution (Network Management, Data Management, Device Management, Application Management, Smart Surveillance), Platform, Service (Professional and Managed), Application, Vertical Market, and Region - Global Forecast to 2022
MarketsandMarkets forecasts the IoT in manufacturing market to grow from USD 12.7 billion in 2017 to USD 45.3 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 29.0% during the forecast period. The major factors driving the IoT in manufacturing market include growing need for centralized monitoring and predictive maintenance of the manufacturing infrastructure; advent of the latest communication technologies; demand-driven supply chain and connected logistics need for agile production, operational efficiency, and better control; increase in the adoption of the cloud environment convergence in Operational Technology (OT) and Information Technology (IT); rise in the number of cost-effective, intelligent connected devices; advent of data analytics and data processing; increase in regulatory compliances; and advent of intelligent machine applications.
Attractive opportunities in the IoT in Manufacturing Market
Market Dynamics
The managed services segment is expected to grow at the highest CAGR during the forecast period
Managed services are being rapidly adopted by developed countries, such as the US and Canada. Managed services play a huge role in the deployment of IoT in manufacturing solutions according to the clients requirements. Managed services include all the pre- and post-deployment queries and needs of customers. These services may include planning, designing, testing, integrating, maintenance, and support. These services are mainly outsourced for on-time delivery, and reduction of capital and operating expenditures. Managed service vendors connect people across all business functions and regions, and provide them with relevant information related to intelligent design, operations, and maintenance, as well as higher quality of service and safety.
The energy and utilities vertical is expected to hold the largest market share in the IoT in manufacturing market during the forecast period
In the MEA and APAC regions, the energy and utilities vertical is expected to grow at the highest CAGR. The Internet of Things (IoT) in energy and utilities is used to implement the IoT-based technology solutions and related services in the oil & gas and mining sectors. The solutions are primarily aimed at achieving convergence of machines and intelligent data to enhance the operational efficiency targets being set by the energy companies. Energy companies can achieve benefits, such as improvised supply chain, enhanced asset monitoring and maintenance, and potential return on IoT investment implementing IoT across organizational processes. The implementation of IoT in manufacturing offers the overall plant automation, process optimization, supply chain optimization, increased safety, integrated business processes, and corporate social responsibility.
Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period
The APAC market is expected to witness significant growth and is projected to be the fastest growing region in the IoT in manufacturing market. APAC has witnessed the advanced and dynamic adoption of new technologies, and it has always been a lucrative market. Governments in the APAC region are continuously investing in the R&D of IoT in manufacturing solutions and services. Expanding IT landscape is boosting the market growth in this region. In addition, increase mandate for regulatory compliance and advent of data analytics, and processing and intelligent machine applications are some of the growth drivers of the IoT in manufacturing market.
Organizations are focusing on their manufacturing processes through the intelligent use of machines and better value chain management. These intelligent systems enable manufacturers to improve the factory control and overall production of goods. The factory processes also become more agile and flexible, and increase the control of the system. Agile manufacturing systems facilitate fast and cost-effective responses to the unpredictable and ever-changing product demand. They also support rapid product launches for previously unplanned products, tailored to meet the changing customer requirements. Increasing the operational efficiency deals with the maintenance of uptime in the production system and the optimization of the overall operational process, to handle the pricing pressure. IoT-based technology solutions enable the energy sector to increase the operational efficiency of the overall business processes in the manufacturing industry. The IoT technology has bridged the gap between remote monitoring and collaborative functioning. Organizations are contributing to the development of OT that controls and monitors machines with the help of cloud and data analytics. OT helps predict equipment breakdowns and assess the overall health of the machines.
IoT in Manufacturing Market: Research Design
Scope of the Report
| Report Metrics |
Details |
|
Market size available for years |
20152022 |
|
Base year considered |
2016 |
|
Forecast period |
20172022 |
|
Forecast units |
Billion (USD) |
|
Segments covered |
By Component (Solutions, Platforms, and Services), By Application Area (predictive maintenance, business process optimization, asset tracking and management, logistics and supply chain management, real-time workforce tracking and management, automation control and management, and emergency and incident management, and business communication), By Vertical (energy and utilities, automotive, Food and beverage, aerospace and defense, chemicals and materials, high-tech products, and healthcare), and Region |
|
Geographies covered |
North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA) |
|
Companies covered |
PTC (US), Cisco Systems (US), General Electric (US), IBM (US), SAP (Germany), Zebra Technologies (US), Siemens (Germany), Huawei (China), Microsoft (US), Bosch (Germany), Schneider Electric (France), and Wind River (US) |
Key Market Players
Cisco Systems (US), IBM (US), PTC (US), Microsoft (US), and General Electric (US).
The research report segments the IoT in manufacturing market into the following submarkets:
By Component:
- Solution
- Platform
- Service
By Solution:
- Network management
- Data management
- Device management
- Application management
- Smart surveillance
By Platform:
- Device management platform
- Application management platform
- Connectivity management platform
By Service:
- Managed services
- Professional services
By Application Area:
- Predictive maintenance
- Business process optimization
- Asset tracking and management
- Logistics and supply chain management
- Real-time workforce tracking and management
- Automation control and management
- Emergency and incident management and business communication
By Vertical:
- Energy and utilities
- Automotive
- Food and beverages
- Aerospace and defense
- Chemicals and material
- High-tech products
- Healthcare
- Others (agriculture, and textile and leather)
By Region:
- North America
- Europe
- APAC
- MEA
- Latin America
Recent Developments
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In April 2017, Cisco partnered with SAS, a global provider of analytics, business intelligence, and data management software. Both the companies have combined their computing system and analytics to develop the industrys first edge-to-enterprise platform. As a part of this partnership, Cisco has validated the design of IoT analytics platform using SAS analytics.
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In March 2017, PTC launched the Kinex application range, a new generation of Industrial IoT (IIoT) applications, built on ThingWorx. The new Kinex product family unifies data from enterprise systems and physical objects through sensors to improve the decision-making in industries.
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In February 2017, IBM partnered with Visa, an American multinational financial services corporation. This partnership enabled IBM to combine its Watson IoT platform with Visas token technology, which allows devices to conduct commerce on the customers behalf. Visa and IBM have deployed a token sharing architecture through a device that is managed by Big Blue's cloud infrastructure.
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In February 2017, IBM collaborated with Bosch, an engineering and electronics company. The collaboration aims at offering innovative technologies for automated updating of millions of IoT devices. Boschs IoT suite services were launched on IBM Bluemix and Watson platform.
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In November 2016, GE acquired Bit Stew Systems, a market leading platform for software-defined operations for the industrial internet. This acquisition enabled GE to provide real-time analytics, dynamic event management, and a fast and easy way to integrate both IT and operational systems for its clients.
Critical questions the report answers:
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Where will all these developments take the industry in the long term?
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What are the upcoming trends for the IoT in Manufacturing market?
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Which segment provides the most opportunity for growth?
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Who are the leading vendors operating in this market?
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What are the opportunities for new market entrants?
To speak to our analyst for a discussion on the above findings, please fill in the required details by clicking on the Speak to Analyst tab.
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Table of Contents
1 Introduction (Page No. - 17)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology (Page No. - 20)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions
2.5 Limitations
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in the Global IoT in Manufacturing Market
4.2 Market, Top 3 Solutions
4.3 Market, By Vertical and Region
4.4 Market Investment Scenario
5 Market Overview (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need for Centralized Monitoring and Predictive Maintenance of the Manufacturing Infrastructure
5.2.1.2 Advent of the Latest Communication Technologies
5.2.1.3 Demand-Driven Supply Chain and Connected Logistics
5.2.1.4 Need for Agile Production, Operational Efficiency, and Better Control
5.2.1.5 Increase in the Adoption of the Cloud Environment
5.2.1.6 Convergence in OT and IT
5.2.1.7 Rise in the Number of Cost-Effective, Intelligent Connected Devices
5.2.1.8 Advent of Data Analytics and Data Processing
5.2.1.9 Increase in Regulatory Compliances
5.2.1.10 Advent of Intelligent Machine Applications
5.2.2 Restraints
5.2.2.1 Lack of Standards for Interconnectivity and Interoperability
5.2.2.2 Data Security and Privacy Concerns
5.2.2.3 Shadow IT Risks
5.2.3 Opportunities
5.2.3.1 Outcome Economy and Pull Economy
5.2.3.2 Content Maturity Model
5.2.3.3 Shared Security Model
5.2.4 Challenges
5.2.4.1 Data Migration Challenges
5.2.4.2 Inconsistent Business Semantics and Conflicts Related to Data Ownership
6 IoT in Manufacturing Market, By Component (Page No. - 41)
6.1 Introduction
6.2 Solutions
6.3 Platforms
6.4 Services
7 Market, By Solution (Page No. - 48)
7.1 Introduction
7.2 Network Management
7.2.1 Network Bandwidth Management
7.2.2 Network Security Management
7.2.3 Network Performance Monitoring and Management
7.2.4 Network Configuration Management
7.3 Data Management
7.3.1 Data Integration
7.3.2 Data Security
7.3.3 Data Migration
7.3.4 Data Analytics and Visualization
7.3.5 Metadata Management
7.3.6 Data Governance
7.3.7 Data Orchestration
7.4 Device Management
7.4.1 Device Provisioning and Authentication
7.4.2 Device Configuration Management
7.4.3 Monitoring and Troubleshooting
7.5 Application Management
7.6 Smart Surveillance
7.6.1 Central Monitoring System
7.6.2 Video Analytics and Events
8 Market, By Platform (Page No. - 59)
8.1 Introduction
8.2 Device Management Platform
8.3 Application Management Platform
8.4 Connectivity Management Platform
9 IoT in Manufacturing Market, By Service (Page No. - 65)
9.1 Introduction
9.2 Managed Services
9.2.1 Infrastructure Management Services
9.2.2 Security Management Services
9.2.3 Network Management Services
9.2.4 Data Management Services
9.2.5 Device Management Services
9.3 Professional Services
9.3.1 IoT Consulting Services
9.3.1.1 Technology Consulting Services
9.3.1.2 Business Consulting Services
9.3.1.3 Operational Consulting Services
9.3.2 IoT Infrastructure Services
9.3.2.1 Network Services
9.3.2.2 Deployment Services
9.3.2.3 Cloud Services
9.3.3 System Designing and Integration Services
9.3.3.1 Platform Development and Integration Services
9.3.3.2 Mobile and Web Application Development Services
9.3.4 Support and Maintenance Services
9.3.5 Education and Training Services
10 IoT in Manufacturing Market, By Application (Page No. - 81)
10.1 Introduction
10.2 Predictive Maintenance
10.3 Business Process Optimization
10.4 Asset Tracking and Management
10.5 Logistics and Supply Chain Management
10.6 Real-Time Workforce Tracking and Management
10.7 Automation Control and Management
10.8 Emergency and Incident Management, and Business Communication
11 Market, By Vertical (Page No. - 90)
11.1 Introduction
11.2 Energy and Utilities
11.3 Automotive
11.4 Food and Beverages
11.5 Aerospace and Defense
11.6 Chemicals and Materials
11.7 High-Tech Products
11.8 Healthcare
11.9 Others
12 IoT in Manufacturing Market, By Region (Page No. - 99)
12.1 Introduction
12.2 North America
12.3 Europe
12.4 APAC
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape (Page No. - 124)
13.1 Overview
13.2 Competitive Scenario
13.2.1 New Product Launches
13.2.2 Mergers and Acquisitions
13.2.3 Partnerships and Collaborations
13.3 Market Ranking
14 Company Profiles (Page No. - 128)
(Business Overview, Major Products, Solutions, and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
14.1 Cisco Systems
14.2 IBM
14.3 PTC
14.4 Microsoft
14.5 General Electric
14.6 SAP
14.7 Zebra Technologies
14.8 Siemens
14.9 Huawei
14.10 Bosch
14.11 Schneider Electric
14.12 Wind River
14.13 Key Innovators
14.13.1 Clearblade
14.13.2 Konux
14.13.3 Mocana
14.13.4 Impinj
14.13.5 Litmus Automation
14.13.6 Uptake
*Details on Business Overview, Major Products, Solutions, and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix (Page No. - 170)
15.1 Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets Subscription Portal
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customizations
15.6 Related Reports
15.7 Author Details
List of Tables (91 Tables)
Table 1 IoT in Manufacturing Market Size, By Component, 20172022 (USD Million)
Table 2 Solutions: Market Size, By Region, 20172022 (USD Million)
Table 3 Platforms: Market Size, By Region, 20172022 (USD Million)
Table 4 Services: Market Size, By Region, 20172022 (USD Million)
Table 5 Market Size, By Solution, 20152022 (USD Million)
Table 6 Network Management: Market Size, By Region, 20152022 (USD Million)
Table 7 Data Management: Market Size, By Region, 20152022 (USD Million)
Table 8 Device Management: Market Size, By Region, 20152022 (USD Million)
Table 9 Application Management: Market Size, By Region, 20152022 (USD Million)
Table 10 Smart Surveillance: Market Size, By Region, 20152022 (USD Million)
Table 11 IoT in Manufacturing Market Size, By Platform, 20152022 (USD Million)
Table 12 Device Management Platform: Market Size, By Region, 20152022 (USD Million)
Table 13 Application Management Platform: Market Size, By Region, 20152022 (USD Million)
Table 14 Connectivity Management Platform: Market Size, By Region, 20152022 (USD Million)
Table 15 Market Size, By Service, 20152022 (USD Million)
Table 16 Managed Services: Market Size, By Region, 20152022 (USD Million)
Table 17 Managed Services: Market Size, By Type, 20152022 (USD Million)
Table 18 Infrastructure Management Services Market Size, By Region, 20152022 (USD Million)
Table 19 Security Management Services Market Size, By Region, 20152022 (USD Million)
Table 20 Network Management Services Market Size, By Region, 20152022 (USD Million)
Table 21 Data Management Services Market Size, By Region, 20152022 (USD Million)
Table 22 Device Management Services Market Size, By Region, 20152022 (USD Million)
Table 23 Professional Services: IoT in Manufacturing Market Size, By Region, 20152022 (USD Million)
Table 24 Professional Services: Market Size, By Type, 20152022 (USD Million)
Table 25 IoT Consulting Services Market Size, By Region, 20152022 (USD Million)
Table 26 IoT Infrastructure Services Market Size, By Region, 20152022 (USD Million)
Table 27 System Designing and Integration Services Market Size, By Region, 20152022 (USD Million)
Table 28 Support and Maintenance Services Market Size, By Region, 20152022 (USD Million)
Table 29 Education and Training Services Market Size, By Region, 20152022 (USD Million)
Table 30 IoT in Manufacturing Market Size, By Application, 20152022 (USD Million)
Table 31 Predictive Maintenance: Market Size, By Region, 20152022 (USD Million)
Table 32 Business Process Optimization: Market Size, By Region, 20152022 (USD Million)
Table 33 Asset Tracking and Management: Market Size, By Region, 20152022 (USD Million)
Table 34 Logistics and Supply Chain Management: Market Size, By Region, 20152022 (USD Million)
Table 35 Real-Time Workforce Tracking and Management: Market Size, By Region, 20152022 (USD Million)
Table 36 Automation Control and Management: Market Size, By Region, 20152022 (USD Million)
Table 37 Emergency and Incident Management, and Business Communication: Market Size, By Region, 20152022 (USD Million)
Table 38 IoT in Manufacturing Market Size, By Vertical, 20152022 (USD Million)
Table 39 Energy and Utilities: Market Size, By Region, 20152022 (USD Million)
Table 40 Automotive: Market Size, By Region, 20152022 (USD Million)
Table 41 Food and Beverages: Market Size, By Region, 20152022 (USD Million)
Table 42 Aerospace and Defense: Market Size, By Region, 20152022 (USD Million)
Table 43 Chemicals and Materials: Market Size, By Region, 20152022 (USD Million)
Table 44 High-Tech Products: Market Size, By Region, 20152022 (USD Million)
Table 45 Healthcare: Market Size, By Region, 20152022 (USD Million)
Table 46 Others: Market Size, By Region, 20152022 (USD Million)
Table 47 IoT in Manufacturing Market Size, By Region, 20152022 (USD Million)
Table 48 North America: Market Size, By Component, 20152022 (USD Million)
Table 49 North America: Market Size, By Solution, 20152022 (USD Million)
Table 50 North America: Market Size, By Platform, 20152022 (USD Million)
Table 51 North America: Market Size, By Service, 20152022 (USD Million)
Table 52 North America: Market Size, By Professional Service, 20152022 (USD Million)
Table 53 North America: Market Size, By Managed Service, 20152022 (USD Million)
Table 54 North America: Market Size, By Application, 20152022 (USD Million)
Table 55 North America: Market Size, By Vertical, 20152022 (USD Million)
Table 56 Europe: Market Size, By Component, 20152022 (USD Million)
Table 57 Europe: Market Size, By Solution, 20152022 (USD Million)
Table 58 Europe: Market Size, By Platform, 20152022 (USD Million)
Table 59 Europe: IoT in Manufacturing Market Size, By Service, 20152022 (USD Million)
Table 60 Europe: Market Size, By Professional Service, 20152022 (USD Million)
Table 61 Europe: Market Size, By Managed Service, 20152022 (USD Million)
Table 62 Europe: Market Size, By Application, 20152022 (USD Million)
Table 63 Europe: Market Size, By Vertical, 20152022 (USD Million)
Table 64 APAC: Market Size, By Component, 20152022 (USD Million)
Table 65 APAC: Market Size, By Solution, 20152022 (USD Million)
Table 66 APAC: Market Size, By Platform, 20152022 (USD Million)
Table 67 APAC: IoT in Manufacturing Market Size, By Service, 20152022 (USD Million)
Table 68 APAC: Market Size, By Professional Service, 20152022 (USD Million)
Table 69 APAC: Market Size, By Managed Service, 20152022 (USD Million)
Table 70 APAC: Market Size, By Application, 20152022 (USD Million)
Table 71 APAC: Market Size, By Vertical, 20152022 (USD Million)
Table 72 MEA: Market Size, By Component, 20152022 (USD Million)
Table 73 MEA: Market Size, By Solution, 20152022 (USD Million)
Table 74 MEA: IoT in Manufacturing Market Size, By Platform, 20152022 (USD Million)
Table 75 MEA: Market Size, By Service, 20152022 (USD Million)
Table 76 MEA: Market Size, By Professional Service, 20152022 (USD Million)
Table 77 MEA: Market Size, By Managed Service, 20152022 (USD Million)
Table 78 MEA: Market Size, By Application, 20152022 (USD Million)
Table 79 MEA: Market Size, By Vertical, 20152022 (USD Million)
Table 80 Latin America: Market Size, By Component, 20152022 (USD Million)
Table 81 Latin America: Market Size, By Solution, 20152022 (USD Million)
Table 82 Latin America: IoT in Manufacturing Market Size, By Platform, 20152022 (USD Million)
Table 83 Latin America: Market Size, By Service, 20152022 (USD Million)
Table 84 Latin America: Market Size, By Professional Service, 20152022 (USD Million)
Table 85 Latin America: Market Size, By Managed Service, 20152022 (USD Million)
Table 86 Latin America: Market Size, By Application, 20152022 (USD Million)
Table 87 Latin America: Market Size, By Vertical, 20152022 (USD Million)
Table 88 New Product Launches, 20152017
Table 89 Mergers and Acquisitions, 2016
Table 90 Partnerships and Collaborations, 20152017
Table 91 Market Ranking for the Market, 2017
List of Figures (52 Figures)
Figure 1 IoT in Manufacturing Market: Market Segmentation
Figure 2 Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market: Assumptions
Figure 7 Segments Dominating the Global Market in 2017
Figure 8 Professional Services Segment Held Larger Market Size in 2017
Figure 9 North America Held Largest Market Share in 2017
Figure 10 Growing Need for Centralized Monitoring and Predictive Maintenance of the Manufacturing Infrastructure to Drive Global Market Growth
Figure 11 Smart Surveillance Segment to Record Highest CAGR, 20172022 (USD Million)
Figure 12 Energy and Utilities Vertical and North America Held Largest Market Shares in the Market in 2017
Figure 13 APAC to Be the Best Market for Investments, 20172022 (USD Million)
Figure 14 IoT in Manufacturing Market: Drivers, Restraints, Opportunities, and Challenges
Figure 15 Solutions Segment to Lead Market, 20172022 (USD Million)
Figure 16 North America to Lead Solutions Segment, 20172022 (USD Million)
Figure 17 North America to Lead Platforms Segment, 20172022 (USD Million)
Figure 18 North America to Lead Services Segment, 20172022 (USD Million)
Figure 19 Smart Surveillance Segment to Record Highest CAGR, 20172022 (USD Million)
Figure 20 North America to Hold Largest Market Share, 20172022 (USD Million)
Figure 21 Device Management Platform Segment to Be the Largest Market, 20172022 (USD Million)
Figure 22 North America to Lead Device Management Platform Segment, 20172022 (USD Million)
Figure 23 Managed Services Segment to Record Higher CAGR, 20172022 (USD Million)
Figure 24 Security Management Services Segment to Record Highest CAGR, 20172022 (USD Million)
Figure 25 North America to Lead Professional Services Segment, 20172022 (USD Million)
Figure 26 System Designing and Integration Services Segment to Record Highest CAGR, 20172022 (USD Million)
Figure 27 North America to Lead IoT Consulting Services Segment, 20172022 (USD Million)
Figure 28 Asset Tracking & Management Segment to Lead IoT in Manufacturing Market, By Application, 20172022 (USD Million)
Figure 29 North America to Lead Asset Tracking & Management Segment, 20172022 (USD Million)
Figure 30 Energy and Utilities Segment to Lead Market, By Vertical, 20172022 (USD Million)
Figure 31 North America to Have the Largest Market Size, 20172022 (USD Million)
Figure 32 North America to Lead Global Market, 20172022 (USD Million)
Figure 33 APAC to Record Highest CAGR in the Market During the Forecast Period
Figure 34 North America: Market Snapshot
Figure 35 APAC: Market Snapshot
Figure 36 Key Developments By Leading Players in the IoT in Manufacturing Market During 20142017
Figure 37 Cisco Systems: Company Snapshot
Figure 38 Cisco: SWOT Analysis
Figure 39 IBM: Company Snapshot
Figure 40 IBM: SWOT Analysis
Figure 41 PTC: Company Snapshot
Figure 42 PTC: SWOT Analysis
Figure 43 Microsoft: Company Snapshot
Figure 44 General Electric: Company Snapshot
Figure 45 General Electric: SWOT Analysis
Figure 46 SAP: Company Snapshot
Figure 47 SAP: SWOT Analysis
Figure 48 Zebra Technologies: Company Snapshot
Figure 49 Siemens: Company Snapshot
Figure 50 Huawei: Company Snapshot
Figure 51 Bosch: Company Snapshot
Figure 52 Schneider Electric: Company Snapshot
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