Dublin, June 07, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global IoT in Process Manufacturing Market - Drivers, Opportunities, Trends, and Forecasts: 2016-2022" report to their offering. According to this research, the IoT in process manufacturing market will witness a CAGR of 46.3% during the forecast period 2016-2022.
Globally, the increasing pressure to improve production activities and performance has led the process manufacturing industry players to adopt IoT in their business units. IoT in process manufacturing allows the companies to gather more data from the production operations by connecting smart devices to their networks.
Understanding the various aspects of IoT in process manufacturing helps the manufacturers to address security issues, improves operation efficiency, reduces the operation costs, improves business operations & intelligent decision making, and helps to offer better customer service. It will enhance the smart features such as smart monitoring, production integration, remote diagnosis, and predictive maintenance. Globally, IoT players are coming up with new innovations to increase the IoT adoption rate in process manufacturing industries. The market is segmented by types, applications, technology, verticals, and regions. The increasing demand for real-time monitoring applications and customized IoT solutions are the major drivers for the market growth. In addition, rising implementation of machine learning, big data, analytics, sensor technology, and cloud technology are supporting the IoT in process manufacturing market. Technologies play a key role in implementing IoT in process manufacturing industry. The major technologies covered in this report are Wi-Fi, 3G, 4G, Bluetooth & BLE, and Ethernet. These technologies assist the manufacturers in machine-to-machine communications (M2M), asset tracking & inventory management, logistics maintenance, and other processes in manufacturing plant. Wi-Fi is the major technology that is being implemented by process manufacturing players and has huge market share, growing at a CAGR of 47.7% during the forecast period 2016-2022. Services & Applications Analysis: The services covered in the report are professional services, managed services, system integrations, and others. Professional services is dominating in the service segment and its market revenue is expected to reach $4,752.8 million by 2022. The professional service helps to adapt to changes in business process, provides operational effectiveness by combining CRM and ERP in the production process, provides real-time visibility into the operations, and also increases the profit of the companies. Some of the key players are PTC Inc., Cisco Systems Inc., IBM Corporation, GE, SAP SE, Intel Corp., Microsoft Corp., and others. At present, big players are acquiring small and start-up players to increase their market share. Also, they are focusing on offering customized IoT solutions to the manufacturers at competitive price to improve the operation performance and flexibility in the production process. Key Topics Covered: 1 Industry Outlook 2 Report Outline 3 Market Snapshot 3.1 Total Addressable Market (TAM) 3.2 Segmented Addressable Market (SAM) 3.3 Related Markets 3.3.1 IoT in Consumer Electronics 3.3.2 Smart Home Market 4 Market Outlook 4.1 Overview 4.2 Market Definition 4.3 Market Trends 4.4 Market Segmentation 4.5 Porter 5 (Five) Forces 5 Market Characteristics 5.1 Ecosystem 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Low operational costs 5.2.1.2 Improved optimization and control of operations 5.2.1.3 Better customer service and support 5.2.2 Restraints 5.2.2.1 Lack of standards and regulations 5.2.2.2 Supply chain concerns 5.2.2.3 Lack of unified data models 5.2.3 Opportunities 5.2.3.1 New business models 5.2.3.2 Diversification of revenue stream 5.2.3.3 Sustainable growth in IoT space 5.2.3.4 Rising demand for the automation solutions 5.2.4 DRO - Impact Analysis 5.2.5 Key Stakeholders 6 Types: Market Size and Analysis 6.1 Overview 6.1.1 Market Size and Analysis 6.2 Software 6.3 Services: Market Size and Analysis 6.3.1 Overview 6.3.2 Managed Services 6.3.3 Professional Services 6.3.4 System Integration 6.3.5 Others 7 Technologies: Market Size and Analysis 7.1 Overview 7.2 Wi-Fi 7.3 3G 7.4 4G 7.5 Bluetooth & Bluetooth Low Energy (BLE) 7.6 Ethernet 8 Applications: Market Size and Analysis 8.1 Overview 8.1.1 Market Size and Analysis 8.2 Predictive Maintenance 8.3 Asset Tracking and Inventory Management 8.4 Supply Chain Management & Logistics 8.5 Remote Monitoring and Control 8.6 Process Optimization 8.7 Others 9 Regions: Market Size and Analysis 10 Verticals: Market Size and Analysis 10.1 Overview 10.2 FMCG 10.3 Chemical Industry 10.4 Pharmaceuticals 10.5 Oil & Gas 10.6 Life Sciences 10.7 Others 11 Vendor Profiles 11.1 PTC Inc. 11.2 Cisco Systems, Inc. 11.3 Siemens AG 11.4 ABB Ltd. 11.5 Rockwell Automation, Inc. 11.6 General Electric (GE) 12 Global Generalist 12.1 IBM Corporation 12.2 SAP SE 12.3 Microsoft Corp. 12.4 Intel Corporation
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