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internet of things

IoT in Manufacturing market size was valued at $424 billion in 2016 and is expected to reach $994 billion by 2023, registering a CAGR of 13.1% from 2017 to 2023. Internet of Things (IoT) in manufacturing market provides various software and services that enable manufacturing companies to provide IoT-based solutions such as predictive maintenance, supply chain management, quality management, and others. Further, introduction to connected operational intelligence and real-time asset monitoring assist the manufacturers to boost the manufacturing process.<br><br>Global IoT in manufacturing market segmen

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internet of things

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  1. Industrial Internet of Things 

  2. Industrial Internet of Things  The IIoT market size was valued at $115 billion in 2016, and is projected to reach at $197 billion by 2023, growing at a CAGR of 7.5% from 2017 to 2023. Advancement in technologies has helped key players to offer enhanced Industrial Internet of Things offerings to their end users. Integration of smart sensors into industrial machines encouraged the manufacturers to reduce the operational cost by 50% and is expected to decrease further during the forecast period. 

  3. Top Impacting Factors Low operational cost Growth in adoption of cloud-based deployment model Growth in adoption of Industrial Internet of Things  Increase in technological advancements Inadequate IT infrastructure Surge in predictive maintenance

  4. Key Benefits For Stakeholders • The overall market potential is determined to understand the profitable trends to gain a stronger foothold. • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis. • The current industrial internet of things market size is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market. • Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the IIoT industry.

  5. Key Market Players Profiled • Cisco Systems, Inc. • General Electric • Intel Corporation • Rockwell Automation, Inc. • ABB Group • Texas Instruments Inc. • Dassault Systems • Honeywell International Inc. • Huawei Technology Co., Ltd. • IBM Corporation

  6. Iiot Market Key Segments • By Component • Hardware • Software • Services • Connectivity • By Application • Manufacturing • Energy & Power • Oil & Gas • Healthcare • Transportation & Logistics • Others

  7. By Region • North America • Europe • Asia-Pacific • LAMEA

  8. ABOUT US • Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain. • Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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