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Global IoT Connected Machines Market Size, Share, Research: By Type: Hardware, Software, Service; By Application: Aviation, Oil and Gas, Automotive, Power Generation and Utility, Transportation, Manufacturing, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global IoT Connected Machines Market Outlook
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.
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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.
Market Analysis
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Based on the type, the IoT connected machines market can be segmented into hardware, software, and service. On the basis of application, the market is categorised into aviation, oil and gas, automotive, power generation and utility, transportation, and manufacturing, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IoT connected machines market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Dell Technologies, Inc.
- Schneider Electric SE
- ABB Ltd.
- B&R Industrial Automation GmbH
- General Electric Company
- IBM Corporation
- Cisco Systems, Inc.
- Others
Market Share by Application
Manufacturing applications are witnessing robust growth in the IoT connected machines market share across the globe as business leaders are implementing new waves of technological transformation with industry 4.0. IoT connected machines help in managing and monitoring production lines and factories remotely which further aids enterprises to improve their operations along with better product quality. The surging inclination of cloud computing solutions in manufacturing applications is likely to fuel the segment growth in the market share of IoT connected machines.
Automotives are expected to be another significant application of IoT connected machines in the coming years, as such machines are implemented in automotive manufacturing as well as post-sale usage. IoT connected machines can help improve the safety and security of automotives, reducing the chance for human error.
Market Share by Region
Geographically, the North American region is expected to augment the IoT connected machines market share as the region is considered the hub for the high adoption of innovative technology and advanced business models with supreme technologies. IoT connected machines are increasingly being used in power generation and utility, aviation, transportation, and automotive industries in the North America region.
Meanwhile, Europe is expected to propel the market growth of IoT connected machines on account of the growing initiatives of projects associated with smart cities such as Vienna, Amsterdam, Helsinki, London, and Barcelona among others. In London, the United Kingdom government launched a new smart city strategy called London 2.0 focusing on improved digital inclusion based on IoT technology. This is further expected to push forward the market growth of IoT connected machines.
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Competitive Landscape
Dell Technologies, Inc. is a United States-based top tech company established in 1984. It focuses on the sales of network servers, personal computers, software, and data storage solutions. It is known as a leading technology company across the globe aiding to change the life of people and aiming to change the digital landscape globally.
Schneider Electric SE was established in 1836 and is based in France. It is a multinational company that deals in energy management and digital automation. It caters to buildings, homes, infrastructures, industries, and data centres, offering real-time automation, services, software, and energy technologies. The company aims to inspire everyone to get the most out of their energy and resources, bridging progress and sustainability for everyone.
ABB Ltd. was founded in 1988 and is a leading technology company across the globe. It focuses on strengthening the transformation of society as well as industry to attain a more sustainable and productive future. The company pushes the limits of technology to enhance performance through its robotics, electrification, automation, and motion portfolios.
Other market players include B&R Industrial Automation GmbH, General Electric Company, IBM Corporation, and Cisco Systems, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IoT Connected Machines Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT Connected Machines Historical Market (2018-2023)
8.3 Global IoT Connected Machines Market Forecast (2024-2032)
8.4 Global IoT Connected Machines Market by Type
8.4.1 Hardware
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Service
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global IoT Connected Machines Market by Application
8.5.1 Aviation
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Oil and Gas
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Automotive
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Power Generation and Utility
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Transportation
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Manufacturing
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global IoT Connected Machines Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America IoT Connected Machines Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe IoT Connected Machines Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific IoT Connected Machines Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America IoT Connected Machines Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa IoT Connected Machines Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Dell Technologies, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Schneider Electric SE
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ABB Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 B&R Industrial Automation GmbH
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 General Electric Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 IBM Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Cisco Systems, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global IoT Connected Machines Market: Key Industry Highlights, 2018 and 2032
2. Global IoT Connected Machines Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global IoT Connected Machines Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global IoT Connected Machines Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global IoT Connected Machines Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global IoT Connected Machines Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global IoT Connected Machines Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America IoT Connected Machines Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America IoT Connected Machines Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe IoT Connected Machines Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe IoT Connected Machines Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific IoT Connected Machines Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific IoT Connected Machines Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America IoT Connected Machines Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America IoT Connected Machines Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa IoT Connected Machines Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa IoT Connected Machines Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global IoT Connected Machines Market Structure
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).
Who are the key market players in the global IoT connected machines market, according to the report?
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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