Global IoT in Process Manufacturing Market Growth to be Propelled by Growth in the Automating Processes Industry by CAGR of ~15% During 2023 – 2033

Kenneth Research published a report titled “IoT in Process Manufacturing Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global IoT in process manufacturing market in terms of market segmentation by component, solution, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.

The global IoT in process manufacturing market is expected to grow at ~15% CAGR over the forecast period, i.e., 2023-2033. The market is segmented by component into solution and platform. out of these, the solution segment is anticipated to hold the largest share over the forecast period. This growth can be attributed to several factors, including increasing demand from downstream industries such as oil and gas, pharmaceuticals, and food processing.

The global IoT in process manufacturing market is anticipated to grow on the back of increased adoption of smart factories and improved efficiency at production lines. By automating processes, manufacturers can increase throughput while reducing costs, and increase demand for smart equipment and sensors. Developments in artificial intelligence (AI), and increase adoption of 3D printing are further expected to surge the growth of the market. 

Geographically, the global IoT in process manufacturing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of them, the market in the North America region is projected to hold the largest market share by the end of 2033 due to high investments being made into these regions across various industries such as food & beverage, automotive, and industrial goods further expected to contribute the growth of the market in the region.

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Increasing Demand for Smart Equipment and Sensors to Drive the Growth of the Market

As per recent data, big businesses have a stronger foundation for the analysis of their big data via smart devices or sensors. 37% of businesses with 250 or more employees in 2020 used smart devices to analyze their big data. About smaller businesses, this percentage falls. In businesses with 50 to 249 employees, this percentage was 20%, and in businesses with 10 to 49 employees, it was 4%.

Robotics and the Internet of Things (IoT) are the processes of combining sensor input from various sources and systems to control and manipulate physical objects. Robots can now see more of their surroundings thanks to IoT sensors and data analytics technologies, which improve task execution. Hence, it is projected to boost the growth of the global IoT in the process manufacturing market.

However, the lack of standardization among devices, the complexity associated with data management and analytics, and understanding how data from various sensors affects production processes are expected to operate as a key restraint to the growth of the global IoT in process manufacturing market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global intelligent-process-automation market which includes company profiling of PTC Inc., Cisco Systems Inc., IBM Corporation, General Electric Company, SAP SE, Intel Corporation, Microsoft Corporation, Zebra Technologies, Siemens AG, Huawei Technologies Co., Ltd., and Others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global IoT in process manufacturing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.     

Kenneth Research is a leading market research company & service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided the right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions to avoid future uncertainties.

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