India IoT in Manufacturing Market Analysis 2015-2025 – ResearchAndMarkets.com
Published on : Monday 07-09-2020
The Indian IoT in Manufacturing Market is expected to grow at an impressive rate during the forecast period.
Dublin, September 03, 2020 – The "India IoT in Manufacturing Market by Component (Solution, Platform, Service), by Application Area (Predictive Maintenance, Business Process Optimisation, Asset Tracking & Management, Logistics & Others), by Vertical, by Company, by Region, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering. The Indian IoT in Manufacturing Market is driven by the growing need to automate and improve operational efficiencies within a manufacturing unit. Additionally, increasing adoption of cloud based solutions and connected devices is further expected to foster the market growth through 2025.
Furthermore, technological advancements such as adoption of big data analytics solutions and data processing, among others, coupled with new service & software launches by the major vendors operating in the market, is expected to fuel the market growth over the next few years. However, the high cost of implementation and deployment of IoT solutions within a manufacturing unit can hamper the market growth during the forecast period. Also, lack of awareness pertaining to the use of IoT solutions across the various end-user industries can further restrict the market growth.
The Indian IoT in Manufacturing Market is segmented based on component, application area, vertical, company, and region. Based on vertical, the market can be categorised into energy & utilities, automotive, food & beverages, aerospace & defense, chemicals & materials, high-tech products, healthcare and others. The energy & utilities segment is expected to dominate the market through 2025. This can be ascribed to the increasing use of IoT solutions for overall plant automation, process optimisation, supply chain optimisation, among others.
The major players operating in the IoT in manufacturing market are IBM India Private Limited, Cisco Systems (India) Private Limited, Huawei Telecommunications (India) Co. Pvt. Ltd., Microsoft India Private Limited, Schneider Electric India Private Limited, Siemens India, Bosch Ltd., SAP India, General Electric, Zebra Technologies India Private Limited and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.