IoT in Manufacturing Market Reach USD 1,495.65 Billion by 2030 | Growing at 22.6% CAGR Globally

WILMINGTON, DE, UNITED STATES, July 10, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, “IoT in Manufacturing Market Reach USD 1,495.65 Billion by 2030 | Growing at 22.6% CAGR Globally.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global IoT in manufacturing market size was valued at $198.25 billion in 2020, and is projected to reach $1,495.65 billion by 2030, growing at a CAGR of 22.6% from 2021 to 2030.

Driving Factors : IoT in Manufacturing Market

Rise in demand for real-time asset monitoring and advancements in technologies including smart sensors and virtual & augmented reality have boosted the growth of the global IoT in manufacturing market. However, lack of suitable IT infrastructure hampers the market growth. On the contrary, advent of connected operational intelligence and rapid adoption of cloud-based deployment model would open new opportunities for the market players in the future.

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Market Segmentation : IoT in Manufacturing Market

The global IoT in manufacturing market is segmented into component, application, and region. On the basis of component, the market is divided into software and services. Depending on application, the market is classified into predictive maintenance, asset performance management, quality management, cognitive process & operations management, supply chain management, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players : IoT in Manufacturing Market

The key players profiled in the IoT in manufacturing market analysis are Cisco Systems Inc., Hitachi Ltd., IBM Corporation, Microsoft Corporation, PTC Inc., Robert Bosch GmbH, SAP SE, Software AG, Texas Instruments, and Zebra Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the IoT in manufacturing industry.

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By region, the global IoT in manufacturing market across North America held the largest share in 2020, accounting for nearly two-fifths of the market, due to development of advanced IoT technologies such as Industry 4.0, advent of cloud-based services, predictive maintenance, and change management. However, market across Asia-Pacific is expected to showcase the highest CAGR of 25.3% during the forecast period, owing to government initiatives and adoption of IoT technologies in Smart Cities initiatives in India.

By component, the software segment held the largest share in 2020, accounting for more than two-thirds of the global IoT in manufacturing market, due to increase in demand for data management, network & application security, smart surveillance, and network & bandwidth security. However, the service segment is expected to manifest the highest CAGR of 24.7% during the forecast period, due to adoption of these services speeds up software implementation, minimizes the deployment cost & risks, and maximizes the value of existing installation through optimization.

By application, the cognitive process and operations management segment is projected to register the highest CAGR of 30.8% during the forecast period, as it helps manufacturers identify defects during production. However, the predictive maintenance segment held the largest share in 2020, contributing to more than one-third of the global IoT in manufacturing market, as it helps in optimizing resource management by sending technicians with right parts.

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Covid-19 Scenario : IoT in Manufacturing Market

● The Covid-19 pandemic positively affected the demand for IoT technology due to the implementation of lockdowns by governments and rise in adoption of work-from-home culture across various industries.

● The increase in acceptance of data gathered through smart devices during the pandemic to monitor and maintain manufacturing life cycle supplemented the market growth.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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