Albany, NY -- (SBWIRE) -- 06/11/2018 -- The emergence of advanced data analytics and data processing is anticipated to aid the growth of the global IoT in manufacturing market. Applications of IoT in manufacturing help gain insight into the performance and lifetime asset value of machines, enable greater control over the complex aspects of manufacturing operations, improve quality management and enterprise compliance, improve production yield rates, reduce carrying costs and out-of-stock inventory, accelerate inventory turns, enable predictive maintenance, collect and track throughout production, and provide real-time insights into manufacturing operations.
Growing adoption of innovative technologies and the increasing focus of key players on research and development activities are expected to fuel the growth of the market for IoT in the manufacturing sector.
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The presence of a large number of manufacturing units and the rapid growth of the economy are expected to help the market grow with a significant rate in North America for the next few years. The key players are continuously developing IoT solutions to enable more effective and efficient procedures of manufacturing.
Global IoT in Manufacturing Market: Overview
The global market for IoT in manufacturing is projected to witness healthy growth in the next few years, thanks to the emergence of advanced data processing and data analytics. Additionally, a significant rise in the regulatory compliances is likely to supplement the growth of the overall market in the near future.
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Global IoT in Manufacturing Market: Drivers and Restraints
The increasing demand for predictive maintenance and centralized monitoring of manufacturing infrastructure is one of the important factors predicted to augment the growth of the global IoT in manufacturing market in the near future.
Global IoT in Manufacturing Market: Region-wise Outlook
Among the key regional segments, North America is anticipated to witness a strong growth in the global IoT in manufacturing market. This region is expected to remain in the leading position throughout the forecast period and register a healthy growth rate.
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Key Players Mentioned in the Research Report are:
The research study has provided a detailed overview of the competitive landscape of the global IoT in manufacturing market. Some of the key players operating in the market are Bosch Software Innovations GmbH, PTC Incorporation, General Electric, Huawei, Cisco Systems, Inc., Zebra Technologies, SAP SE, IBM Corporation, Siemens AG, Rockwell Automation, and Microsoft Corporation.