IoT Connected Machines Market – Global Industry Analysis And Forecast (2023–2029)

IoT Connected Machines Market was valued US$ 424.13 Bn  in 2022 and is expected to reach US$ 1716 Bn by 2029, at CAGR of 22.1 % during forecast period of 2023 to 2029.
The concept IoT connected machines has adopted by several industries:
IoT connected machines are universally adopted across various industries among different sizes and verticals to reduce the workload by automating processes and to eliminate the monotonous process and provide a superior and digitized experience. Also, for dealing with bulk amounts of data, big data and AI (Artificial Intelligence), the IoT connected machines proved to have a significant role.

Moreover, the demand for real-time responses and timely functioning of IoT systems will lead to the rise in demand of robust IoT operating systems in forecast period, which is ultimately expected to supplement the growth of the IoT connected machines market worldwide.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

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The IoT connected machines market has huge growth potential in healthcare and manufacturing industries. IoT connected machines in healthcare are fixed with devices that convey analytics, with the help of that doctors can diagnose and give proper treatment to the patients. Hence, in the healthcare segment, IoT connected machines market is expected to reach to US$ xx Bn by 2029 with CAGR of xx%.

Similarly, in manufacturing sector, when machines and devices are connected to the Internet, they cMnollect valuable information and provide insights about the process and give a comprehensive understanding about the real time functioning and empower operators to take actions according to current situation. Thus, sensors and wearable devices help collect and monitor data that can be sent for processing in real time, which improves the productivity and generate more revenues and profits to the organization.

With the rapid adoption of smartphones and digital media, consumers have become more tech savvy. Thus, major players are focusing on mobile applications and virtual assistants, as they are becoming familiar for IoT connected machines in the several industries. Further innovations in the IoT connected machines market have led to the development of smart cars, which can store information and transmit this data to other devices while on the go. As such, IoT connected machines market will find applications from the numerous industries like, healthcare, manufacturing, Automotive, Aviation, Oil & Gas, Transportation, Power Generation & Utility, Mining and Agriculture.
Electric Submersible Cables Market Dynamics:
However, the installation of IoT also arises along with many challenges. High cost associated with its implementation has always been an area of concern. IoT connected machines are required several innovations in the automotive industry as well, to tackle the worrying problem of traffic jam in various cities across globe. In spite of restrictions, such as, security breaches and high costing, stakeholders are continuously focusing on research & development to overcome basic infrastructural problems that obstruct the smooth functioning of IoT connected machines. The Global Electric Submersible Cables Market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Electric Submersible Cables Market.
IoT Connected Machines Market Regional Insights:
North America is considered as the major hub for the fastest adoption of new technology and enterprise business models with the latest & innovative technologies, by enterprises in this region. For the same reason, North America is estimated to see the highest growth opportunity for the IoT connected machines in the forecast period, with the Europe being the next region with highest CAGR of xx%. The North America held the leading position in the IoT connected machines market, with revenues in 2022 estimated at ~US$ 95 Bn and is anticipated to dominate the market during the forecast period, with CAGR of xx%. The IoT connected machines markets in Asia Pacific and the Middle East & Africa are expected to show moderate growth during the forecast period, with CAGR of xx% and xx% respectively.
Objective of the Global IoT Connected Machines Market :
The objective of the report is to present a comprehensive analysis of Global IoT Connected Machines Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global IoT Connected Machines Market dynamics, structure by analyzing the market segments and project the Global IoT Connected Machines Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global IoT Connected Machines Market make the report investor’s guide.
IoT Connected Machines Market Scope: Inquire before buying



Global IoT Connected Machines Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 424.13 Bn.


Forecast Period 2023 to 2029 CAGR:
22.1 %
Market Size in 2029:
US$ 1716.00 Bn.


 Segments Covered:
by Component
Hardware
  IoT Kits
   Gateways
Software/Platform
Services
 Consulting Services
   Integration Services
   Support Services


by Industry
Automotive
Aviation
Oil & Gas
Transportation
Power Generation & Utility
Manufacturing
Healthcare
Retail
Others (Mining, Agriculture)


by Platform
Device Management
Application Management
Network Management



IoT Connected Machines Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
IoT connected machines Market, Key Players are
1. Advantech Co., Ltd.
2. B&R Industrial Automation GmbH
3. Beckhoff Automation GmbH & Co. KG
4. General Electric Company
5. Honeywell International, Inc.
6. IBM Corporation
7. Robert Bosch GmbH
8. Rockwell Automation, Inc.
9. Siemens AG
10. Schneider Electric SE
11. Dell Inc.
12. Cisco Systems, Inc.
13. AT&T Inc.
14. Capgemini
15. PLEX SYSTEMS
16. ABB
17. Akamai Technologies

Frequently Asked Questions:

1. Which region has the largest share in Global IoT Connected Machines Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global IoT Connected Machines Market?
Ans: The Global IoT Connected Machines Market is expected to grow at a CAGR of 22.1% during forecast period 2023-2029.

3. What is scope of the Global IoT Connected Machines Market report?
Ans: Global IoT Connected Machines Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global IoT Connected Machines Market?
Ans: The important key players in the Global IoT Connected Machines Market are - Advantech Co., Ltd., B&R Industrial Automation GmbH, Beckhoff Automation GmbH & Co. KG, General Electric Company, Honeywell International, Inc., IBM Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, Dell Inc., Cisco Systems, Inc., AT&T Inc., Capgemini, PLEX SYSTEMS, ABB, and Akamai Technologies.

5. What is the study period of this market?
Ans: The Global IoT Connected Machines Market is studied from 2022 to 2029.