According to this research, the IoT in process manufacturing market will witness a CAGR of 46.3% during the forecast period 2016-2022.
Globally, the increasing pressure to improve production activities and performance has led the process manufacturing industry players to adopt IoT in their business units. IoT in process manufacturing allows the companies to gather more data from the production operations by connecting smart devices to their networks.
Understanding the various aspects of IoT in process manufacturing helps the manufacturers to address security issues, improves operation efficiency, reduces the operation costs, improves business operations & intelligent decision making, and helps to offer better customer service. It will enhance the smart features such as smart monitoring, production integration, remote diagnosis, and predictive maintenance. Globally, IoT players are coming up with new innovations to increase the IoT adoption rate in process manufacturing industries.
The market is segmented by types, applications, technology, verticals, and regions. The increasing demand for real-time monitoring applications and customized IoT solutions are the major drivers for the market growth. In addition, rising implementation of machine learning, big data, analytics, sensor technology, and cloud technology are supporting the IoT in process manufacturing market.
Technologies play a key role in implementing IoT in process manufacturing industry. The major technologies covered in this report are Wi-Fi, 3G, 4G, Bluetooth & BLE, and Ethernet. These technologies assist the manufacturers in machine-to-machine communications (M2M), asset tracking & inventory management, logistics maintenance, and other processes in manufacturing plant. Wi-Fi is the major technology that is being implemented by process manufacturing players and has huge market share, growing at a CAGR of 47.7% during the forecast period 2016-2022.
- ABB Ltd
- Cisco Systems Inc
- General Electric(GE)
- IBM Corporation
- Intel Corporation
- Microsoft Corp
- PTC Inc
- Rockwell Automation Inc
- SAP SE
- Siemens AG
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Types: Market Size and Analysis
7 Technologies: Market Size and Analysis
8 Applications: Market Size and Analysis
9 Regions: Market Size and Analysis
10 Verticals: Market Size and Analysis
11 Vendor Profiles
12 Global Generalist
For more information about this report visit http://www.researchandmarkets.com/research/db7kx5/global_iot_in
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-iot-in-process-manufacturing-market-2016-2022-implementation-of-iot-in-process-manufacturing-industry-has-brought-1921-billion-revenue-opportunities-for-iot-key-stakeholders—research-and-markets-300460754.html
SOURCE Research and Markets