IoT in Manufacturing Market and its key opportunities

Posted on 2019-10-14 by MarketsandMarkets in Technology // 0 Comments

The IoT in Manufacturing Market size was USD 10.45 Billion in 2016 and is projected to reach USD 45.30 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 29.0% during the forecast period as per a report by MarketsandMarkets.

Major forces driving IoT in manufacturing market are the growing need for centralized monitoring and predictive maintenance of manufacturing infrastructure. The increasing need for agile production, operational efficiency, and control, and demand-driven supply chain and connected logistics are also expected to drive the market.

Why shared security model adoption will keep the opportunities growing?

A shared security model can ensure proper security and compliance for each constituent in the IoT ecosystem, along with introducing transparency and visibility at different business/operational levels. Recently in 2016, an unprecedented and a massive distributed denial of service (DDoS) attack were initiated against KrebsOnSecurity.com, the website of Brian Krebs, a security blogger and reporter. The attack was so sustained and massive that Prolexic (owned by Akamai), the company providing security for the website, had to cancel his account to stop the drain on its resources. What makes DDoS attacks even more dangerous in the IoT space is the flow of a large data hose through loosely coupled devices, such as IP cameras, connected light bulbs, Wi-Fi-enabled door locks, routers, and connected smart devices, which can halt the entire IoT subsystem. A shared security model incorporates a cohesive blend of responsibilities undertaken by infrastructure as a service (IaaS), PaaS, and application providers along with the end-users. It helps various enterprises secure their underlying infrastructure as well as the commercial clients’ obligation to secure their virtual servers, applications, and systems with tools they provide. With technological advancements of companies, such as Soha Systems and Radware, enterprises can access grade application security services, thereby assisting their commercial clients to fulfill their shared security responsibilities and secure applications running on the hybrid and public cloud infrastructure, and minimize threats from breaches, hijacks, and data leakages.

Request PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=129197408

Key Market Players for IoT in Manufacturing Market

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.

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.

Browse Complete Report @ https://www.marketsandmarkets.com/Market-Reports/iot-manufacturing-market-129197408.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick