The IoT in manufacturing market is gaining traction, owing to the critical need for centralized monitoring and predictive maintenance of manufacturing infrastructure. The growing need for the demand-driven supply chain and connected logistics and for agile production, operational efficiency, and control are some of the factors contributing to the growth of the IoT in manufacturing market. IoT in manufacturing market size to grow from USD 12.67 billion in 2017 to USD 45.30 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 29.0% from 2017 to 2022.
There are several established players in the global IoT in manufacturing market, such as PTC (US), Cisco Systems (US), General Electric (US), SAP (Germany), IBM (US), Zebra Technologies (US), Siemens (Germany), Microsoft (US), Bosch (Germany), Wind River (US), Schneider Electric (France), and Huawei (China). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers & acquisitions, and new product developments to achieve growth in the market.
PTC adopted both organic as well as inorganic strategies to expand its presence in the market. The company formed various partnerships and strategic alliances with local as well as global players. For instance, in November 2016, PTC partnered with General Electric, a US-based technology provider, to deliver the innovative manufacturing solutions and powerful analytics solutions to its commercial clients. PTC acquired Kepware, a leading provider of communications connectivity solutions to industrial automation environments. This acquisition enabled PTC to enhance its IoT product portfolio and expand its footprint into the factory setting and Industrial IoT (IIoT).
Cisco Systems has a strong presence across North America, Europe, the Middle East, Africa, and Asia Pacific. The company focuses more on the inorganic growth strategies to tap into the IoT in manufacturing market. For instance, in April 2016, Cisco Systems, partnered with Deutsche Telekom AG, a leading telecommunication solution provider in Germany. This partnership enabled Cisco and Deutsche Telekom to jointly offer IoT solutions and services to their IoT manufacturing commercial clients.