Global “Internet of Things (IoT) Market” Report 2020 trend offers Complete examination of industry status and standpoint of significant areas dependent on of central participants, nations, item types, and end enterprises. This report focuses on the Internet of Things (IoT) in Global market, especially in United States, Europe, China, Japan, South Korea, North America, India. Internet of Things (IoT) Market report categorizes the market based on manufacturers, regions, type and application. Internet of Things (IoT) Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data.
Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. Internet of Things (IoT) Market report categorizes the market based on manufacturers, regions, type, and application. Internet of Things (IoT) Market reports offer a detailed assessment of the Internet of Things (IoT) including enabling technologies, current market situation, market assumptions, restraining factors.
List of Top Key-players in 2020 of Internet of Things (IoT) Market:-
- Cisco Systems Inc.
- General Electric
- Intel Corporation
- IBM Corporation
- Verizon Communication Inc.
- AT&T Inc.
- Siemens AG
- Hitachi Data Systems
- Microsoft Corporation
- SAP SE
- Zebra Technologies
- Bosch Software Innovations
The Global Internet of Things (IoT) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global Internet of Things (IoT) market in manufacturing was valued at USD 165.27 billion in 2017, and is expected to reach USD 350.51 by 2023, witnessing a CAGR of 13.15% during the forecast period of 2018-2023. The scope of the report includes the spending on IoT hardware, software, and services, by the manufacturing industry.
IoT device manufacturers are creating market opportunities, by creating proprietary ecosystem standards for IoT devices, which fall within their brand line, and then increasing switching costs, to eliminate threat from substitutes. The importance of global standards in the IoT environment is evident in the case of proprietary data formats. Data collection and analysis through IoT devices is a market worth billions of dollars by itself. The design of several IoT devices is such that, it is either incredibly hard to upgrade at a later stage, or the upgrade process is highly inconvenient to the users, leaving them perpetually vulnerable to cyber security threats. The lack of visibility into the internal workings of an IoT device, or the precise data streams they produce, create security vulnerability, where a user believes that a device is performing certain functions, when in reality, it might be performing unwanted functions or collecting more data than the user would prefer. Data-driven companies are already using IoT generated data, feeding them into their existing analytical pipeline and improving operational management and efficiencies, in addition to reducing costs. The major challenges involved in implementing a Big Data solution primarily dependent on IoT devices are – storing the colossal amounts of data being produced, running analytical queries among such huge amount of data stored using highly complex storage technologies, and performing advanced data analysis involving data mining and machine learning technologies to gain insights.
Improved Cost and Operational Efficiency Driving the Market
Advancements in IoT are leading to the continuous monitoring of almost every step in the value and supply chains of an enterprise. The primary value that IoT generates, is a result of the data captured from ‘Connected’ things, and the resulting insights that drive business and operational transformation. Data that is analyzed to trigger transactions and business administrative activities, come from Machine-to-Machine data, devices, and sensors. It helps companies understand and utilize IoT data available with them, and focus on improving business operations, thus reducing maintenance costs and avoiding equipment failures. IoT technology offers automated mechanisms for pulling machine data into data warehouses or Hadoop clusters and other big data platforms, for analysis. With the emergence of Big Data technologies, collecting, storing, and analyzing data from industrial sensors, network logs, and other machinery connected to IoT has become more feasible, thus increasing the rate at which these processes are being adopted.
Logistics and Supply Chain Management Application to Accelerate the Market Landscape
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. By 2018, it is expected that manufacturers will explore the importance of micro-logistics networks, in order to accelerate the delivery of selected products to customers. 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. Access to real-time data analysis results is expected to help manufacturers deal with a problem before it occurs and will significantly help reduce the inventory costs.
North America to Dominate the 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, and DevOps, manufacturers are eager to integrate IoT technologies into their processes.
Connected devices and data flows 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% 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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The global Internet of Things (IoT) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Internet of Things (IoT) Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
Key Developments in the Internet of Things (IoT) Market:
• Oct 2017 – VMware and SAP collaborated to accelerate IoT adoption in enterprises. This collaboration aims to provide support for implementation and management of IoT use-cases across infrastructure, edge, cloud, devices, and application domains.• May 2017 – Cisco, in collaboration with Microsoft Azure, launched an IoT platform that includes tools that helps in managing connections.• Apr 2017 – Huawei and GE collaborated to introduce industrial cloud-based predictive maintenance solutions that reduce unplanned asset downtime and enhance product and service innovations.• Apr 2017 – IBM launched IBM Watson IoT solution, a cognitive visual inspection that provides manufacturers with cognitive assistant on the factory floor, which minimizes defects and increases quality of the products.
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This Internet of Things (IoT) Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Internet of Things (IoT)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Internet of Things (IoT) Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Internet of Things (IoT) Market? What Was Capacity, Production Value, Cost and PROFIT of Internet of Things (IoT) Market?
- What Is Current Market Status of Internet of Things (IoT) Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Internet of Things (IoT) Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Internet of Things (IoT) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Internet of Things (IoT) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Internet of Things (IoT) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Internet of Things (IoT) Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Internet of Things (IoT) Industry?
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Finally, the report Global Internet of Things (IoT) Market 2020 describes the Internet of Things (IoT) industry expansion game plan, the Internet of Things (IoT) industry knowledge supply, appendix, analysis findings, and the conclusion.
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