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. To know about the Research Methodology :- Request Free Sample Report 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.
1. Global IoT Connected Machines Market : Research Methodology 2. Global IoT Connected Machines Market : Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global IoT Connected Machines Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global IoT Connected Machines Market : Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global IoT Connected Machines Market Segmentation 4.1 Global IoT Connected Machines Market , by Component (2022-2029) • Hardware IoT Kits Gateways • Software/Platform • Services Consulting Services Integration Services Support Services 4.2 Global IoT Connected Machines Market , by Industry (2022-2029) • Automotive • Aviation • Oil & Gas • Transportation • Power Generation & Utility • Manufacturing • Healthcare • Retail • Others (Mining, Agriculture) 4.3 Global IoT Connected Machines Market , by Platform (2022-2029) • Device Management • Application Management • Network Management 5. North America IoT Connected Machines Market (2022-2029) 5.1 North America IoT Connected Machines Market , by Component (2022-2029) • Hardware IoT Kits Gateways • Software/Platform • Services Consulting Services Integration Services Support Services 5.2 North America IoT Connected Machines Market , by Industry (2022-2029) • Automotive • Aviation • Oil & Gas • Transportation • Power Generation & Utility • Manufacturing • Healthcare • Retail • Others (Mining, Agriculture) 5.3 North America IoT Connected Machines Market , by Platform (2022-2029) • Device Management • Application Management • Network Management 5.4 North America IoT Connected Machines Market , by Country (2022-2029) • United States • Canada • Mexico 6. Europe IoT Connected Machines Market (2022-2029) 6.1. European IoT Connected Machines Market , by Component (2022-2029) 6.2. European IoT Connected Machines Market , by Industry (2022-2029) 6.3. European IoT Connected Machines Market , by Platform (2022-2029) 6.4. European IoT Connected Machines Market , by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific IoT Connected Machines Market (2022-2029) 7.1. Asia Pacific IoT Connected Machines Market , by Component (2022-2029) 7.2. Asia Pacific IoT Connected Machines Market , by Industry (2022-2029) 7.3. Asia Pacific IoT Connected Machines Market , by Platform (2022-2029) 7.4. Asia Pacific IoT Connected Machines Market , by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa IoT Connected Machines Market (2022-2029) 8.1 Middle East and Africa IoT Connected Machines Market , by Component (2022-2029) 8.2. Middle East and Africa IoT Connected Machines Market , by Industry (2022-2029) 8.3. Middle East and Africa IoT Connected Machines Market , by Platform (2022-2029) 8.4. Middle East and Africa IoT Connected Machines Market , by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America IoT Connected Machines Market (2022-2029) 9.1. South America IoT Connected Machines Market , by Component (2022-2029) 9.2. South America IoT Connected Machines Market , by Industry (2022-2029) 9.3. South America IoT Connected Machines Market , by Platform (2022-2029) 9.4 South America IoT Connected Machines Market , by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Advantech Co., Ltd. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 B&R Industrial Automation GmbH 10.3 Beckhoff Automation GmbH & Co. KG 10.4 General Electric Company 10.5 Honeywell International, Inc. 10.6 IBM Corporation 10.7 Robert Bosch GmbH 10.8 Rockwell Automation, Inc. 10.9 Siemens AG 10.10 Schneider Electric SE 10.11 Dell Inc. 10.12 Cisco Systems, Inc. 10.13 AT&T Inc. 10.14 Capgemini 10.15 PLEX SYSTEMS 10.16 ABB 10.17 Akamai Technologies

About This Report

Report ID 53219
Category Information Technology & Telecommunication
Published Date July 2023
Updated Date
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