IoT in Manufacturing Market Expected to Surpass USD $617.1 Billion by 2029, Expanding at 16.7% CAGR

 

The iot in manufacturing market size has grown rapidly in recent years. It will grow from $286.53 billion in 2024 to $332.21 billion in 2025 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to industry 4.0, cost efficiency, predictive maintenance, supply chain optimization, quality control.

The iot in manufacturing market size is expected to see rapid growth in the next few years. It will grow to $617.1 billion in 2029 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to 5g connectivity, edge computing, ai and machine learning, customization and personalization, sustainability. Major trends in the forecast period include digital twins, cybersecurity, remote monitoring and control, collaborative robots (cobots), smart factories.

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What Are the Major Drivers Influencing the IoT in Manufacturing Market?
The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies such as Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately.

Which Segment Holds the Largest Share in the IoT in Manufacturing Market?
The iot in manufacturingmarket covered in this report is segmented –

1) By Component: Solution, Platform, Service
2) By Vertical: Energy And Utilities, Automotive, Food And Beverages, Aerospace And Defense, Chemicals And Materials, High-Tech Products, Healthcare
3) By Platform: Device Management Platform, Application Management Platform, Connectivity Management Platform
4) By Application: Process Optimization, Predictive Maintenance, Asset Management, Workforce Management, Emergency And Incident Management, Logistics And Supply Chain Management, Inventory Management

Subsegments:
1) By Solution: Hardware, Software
2) By Platform: IoT Platform, Cloud Platform, Edge Computing Platform
3) By Service: Professional Services, Managed Services

What Are the Major Trends Impacting the IoT in Manufacturing Market?
The IoT devices collect a great deal of data of all types. Managing this data and analyzing it will help maximize its value for the company. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). For instance, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes.

Which Major Companies Are Operating in the IoT in Manufacturing Market?
Major companies operating in the IoT in manufacturing market include Microsoft Corporation, SAP SE, Robert Bosch GmbH, International Business Machines Corporation, Cisco Systems Inc., General Electric Company, Huawei Technologies Co. Ltd., PTC Inc., Zebra Technologies Corporation, Siemens Aktiengesellschaft, Rockwell Automation Inc., Wind River Systems Inc., Schneider Electric SE, ClearBlade Inc., Mocana Corporation, Impinj Inc., Uptake Technologies Inc., PalleTech LLC, ELMODIS Sp. z o.o., Water.IO Inc., SensEye LLC, ARCSTONE Pte. Ltd., SupraControl Technologies Inc., Software AG, Texas Instruments Incorporated, Hitachi Ltd., Konux GmbH, Honeywell International Inc., Intel Corporation, ABB Ltd., Mitsubishi Electric Corporation, Fujitsu Limited, Accenture plc, Oracle Corporation, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., Amazon Web Services Inc., Fanuc Corporation, Kuka AG, Yaskawa Electric Corporation

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Which Region Is Expected to Lead the IoT in Manufacturing Market by 2029?
Asia-Pacific was the largest region in the IoT market in 2024. North America was the second largest region in the IoT market. The regions covered in the iot in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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