Research and Markets has announced the addition of the "IoT in Manufacturing Market - Global Forecast to 2021" report to their offering.
IoT in Manufacturing market size to grow from USD 6.17 Billion in 2016 to USD 20.59 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.2%.
Predictive maintenance plays a significant role in managing high valued factory equipment. The predictive maintenance techniques are designed to determine the condition of in-service manufacturing equipment in order to predict when the maintenance should be performed. This approach promises cost savings over routine or time-based preventive maintenance because tasks are performed only when required. Load balancing with centralized monitoring solution improves the distribution of additional workloads across the manufacturing operations to enable smoother functioning and allocation of resources to multiple manufacturing processes, thereby boosting the manufacturing efficiency and productivity.
Furthermore, lack of standards for interconnectivity and interoperability between IoT devices is one of the biggest restraining factor for the IoT in manufacturing market. In addition, data security & privacy concerns, and shadow IT risk are the other factors restraining the growth of the IoT in manufacturing market.
Business consulting services play a significant role in IoT in manufacturing, as enterprises find it suitable to consult with the business professionals before implementing IoT platforms and solutions in manufacturing processes. Most of the IoT vendors offer business consulting services to their commercial clients, including manufacturing companies, and monitor the impact analysis of production cost, quality, flexibility, service levels, and control. These services provide a clear understanding of the current and future product portfolio, core capabilities & needs of the organizations, and future footprint & capacity plan, including which sites should be closed, consolidated, or prioritized for manufacturing operation optimizations.
Companies Mentioned:
- Bosch Software Innovations GmbH
- Cisco Systems, Inc.
- Clearblade Inc.
- General Electric
- Huawei
- IBM Corporation
- Impinj
- Konux
- Litmus Automation
- Microsoft Corporation
- Mocana
- PTC Incorporation
- Rockwell Automation
- SAP SE
- Siemens AG
- Uptake
-
Zebra Technologies
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 IoT in Manufacturing Market Analysis, By Component
8 IoT in Manufacturing Market Analysis, By Software
9 IoT in Manufacturing Market Analysis, By Platform
10 IoT in Manufacturing Market Analysis, By Service
11 IoT in Manufacturing Market Analysis, By Application
12 IoT in Manufacturing Market Analysis, By Vertical Markets
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
16 Key Innovators
For more information about this report visit http://www.researchandmarkets.com/research/xjglwb/iot_in
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131005668/en/