The scope for IoT in manufacturing market has been on a tremendous high lately, owing to the massive deployment of IoT devices in numerous manufacturing operations for enhancing industrial productivity and working efficiency

Ocean View, DE -- (SBWire) -- 06/23/2020 --The scope for IoT in manufacturing market has been on a tremendous high lately, owing to the massive deployment of IoT devices in numerous manufacturing operations for enhancing industrial productivity and working efficiency. The ongoing developments across numerous industry verticals stand testimony to the aforementioned fact. Recently, the Japan based conglomerate Hitachi, and the automotive giant Toyota inked a partnership to develop a high-efficiency production model using an IoT platform. The partnership intends to exploit Hitachi's Lumada technology and artificial intelligence across all the manufacturing operations. Incorporating big data with AI has been touted to improve the quality and production efficiency of manufacturing companies, pertaining to the capability of IoT devices to provide real time information and feedback. In recent years, the advent of advanced digitalization and the prevalence of diversified customer requirements have changed the mindset of manufacturers toward the adoption of advanced technologies.

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The impact of IoT in manufacturing industry, cite experts, would lead to a paradigm shift in business models, increasing the deployment of automation and subsequently increasing the output with gusto. Having recognized the immense potential of this tech prodigy, companies have been vying with one another to unlock the potential of this technology in as many use cases as possible. On these grounds, IoT in manufacturing market has lately been witnessing a plethora of corporate partnerships and JVs, that would enable both the parties to jointly work on improvising manufacturing operations via IoT platforms. For instance, VMware and SAP have scarcely announced the commencement of a new partnership with an aim to exploit the Internet of Things across myriad applications, with dramatized priority on the manufacturing sector.

The Major Key Players in the Market are as follows:
1. ABB
2. Bosch Software Innovations
3. Cisco
4. Dell
5. GE
6. Hewlett Packard Enterprise
7. Hitachi
8. Honeywell
9. Huawei Technologies
10. IBM
11. Intel Corporation
12. Microsoft
13. NEC Corporation
14. NXP Semiconductors
15. PTC
16. SAP
17. Telit
18. Zebra Technologies

The companies have categorically stated their goals to accelerate IoT initiatives and ensure accurate scalability and quick execution of on-site IoT projects, which would certainly have a commendable impact on IoT in manufacturing industry. Furthermore, both the conglomerates have already penned down their success story as far as the deployment of IoT is concerned. VMWare has been on a roll, collaborating alongside Dell for delivering IoT monitoring services for the Dell Edge Gateway, while simultaneously developing platforms for virtual desktops at major universities across the United States. SAP's cloud platform has been deployed for managing a logistics platform dubbed 'smartPORT' for shipping operations in Hamburg, in addition to analyzing parking sensor data in Vienna. The aforementioned instances bear testimony to the fact that the VMWare-SAP alliance may have a rather profound influence on IoT in manufacturing market share, since both the companies have demonstrated their predominance in harnessing the power of the Internet of Things for a widespread array of end-use domains.

Having recognized the aftermath of IoT in manufacturing industry, experts have reason to believe that the Internet of Things would remarkably influence the future supply chain models. The aim would be to seamlessly integrate information into the supply chain, which would result in copious amounts of data storage. In order that huge supply chain operators are able to keep pace with the changing trends of IoT, two very basic competencies must be incorporated in the system that may modify the value chain, namely, reproducibility and stability. Companies partaking in IoT in manufacturing market share would need to perpetually focus on automating the value chain across numerous production lines, but with the deployment of highly analytical algorithms, to ensure definite precision and accuracy.

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While a plethora of business spheres have borne the dynamic impact of IoT, none of them seem to have experienced a transformation as vivid as the manufacturing domain. The deployment of IoT in manufacturing market has led to a remarkable change in the current production landscape of major industries, given that the technology enables powerful connectivity amidst all the devices and systems to build connected applications that optimize operational processes. Pertaining to the rapidly increasing demand for operational big data transformation into actionable insights for quicker, strategic decision-making, companies have been liberally mobilizing IoT in manufacturing industry. Furthermore, the requirement for performance enhancement, productivity improvement, and quality and uptime upgradation has necessitated the demand for predictive maintenance in production, which would lead to a remarkable upswing in IoT in manufacturing market trends in the forthcoming years.

Some Points From Table Of Content: -
Chapter 5. IoT in Manufacturing Market, By Technology
5.1. Global IoT in manufacturing market share by technology, 2016 & 2024
5.2. Sensor
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. RFID
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Connectivity technology
5.5. Others

Chapter 6. IoT in Manufacturing Market, By Component
6.1. Global IoT in manufacturing market share by component, 2016 & 2024
6.2. Hardware
6.2.1. Market estimates and forecast, 2013 - 2024
6.2.2. Market estimates and forecast, by region, 2013 – 2024
6.3. Software
6.3.3. Data management
6.3.4. Streaming analytics
6.3.5. Security
6.3.6. Remote monitoring
6.3.7. Bandwidth management
6.3.8. Others

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