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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global IoT Connected Machines Market Size
The global IoT connected machines market is expected to grow in the forecast period of between 2024 and 2032 at a CAGR of 15.20%, driven by the rise in adoption rate of IoT connected machines by several industries.
Key Trends in the Market
IoT connected machines is a technology employed to manage and connect physical machines, and devices, among other equipment employing the Internet of Things (IoT). It helps different organisations and end-users control, optimise, and monitor equipment and machines in an integrated manner. Businesses collect data from such devices or machines to obtain insights into their operations and improve the performance by connecting equipment and machines to the internet.
- The increasing usage IoT connected machines in product flow monitoring, factory digitalisation, and logistic and inventory management among others, are driving the IoT connected machines market growth, facilitating rising transformation in the manufacturing industry.
- With the surging adoption of 5G technology in several industries and the increasing inclination for cloud computing solution, the market demand for IoT connected machines is expected to fuel the over the coming time frame.
- The growing government initiative toward creating smart cities in various regions using IoT technology is a key trend likely to boost market growth of IoT connected machines across the globe. With IoT connected machines, management and operations of smart cities can be improved and simplified.
IoT Connected Machines Market Report Snapshots
IoT Connected Machines Market Size
IoT Connected Machines Market Share
IoT Connected Machines Market Analysis
IoT Connected Machines Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 15.20% between 2024 and 2032.
The major market drivers are the rise in adoption rate of IoT connected machines in several industries, and advancements in IoT technology.
The key IoT connected machines market trends include the rising support by various governments for the development of strong IoT networks, prevalence of 5G networks, and usage of IoT connected machines in manufacturing.
The various types of IoT connected machines include hardware, software, and service.
The different applications of IoT connected machines include aviation, oil and gas, automotive, power generation and utility, transportation, and manufacturing, among others.
IoT connected machines refer to a network of physical machines and devices, among other equipment that are connected employing the Internet of Things (IoT).
The major players in the market are Dell Technologies, Inc., Schneider Electric SE, ABB Ltd., B&R Industrial Automation GmbH, General Electric Company, IBM Corporation, and Cisco Systems, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124