IoT Connected Machines Market SWOT Analysis by 2031
The increasing adoption of IoT connected machines across various industries to eliminate the monotonous process, reduce the workload, and provide a superior and digitized experience. Increasing digitalization and growing factory automation in the industries are positively impacting the growth of the IoT connected machines market. Furthermore, rapid growth in AI, big data technology, and developing machine learning language are fueling the growth of the IoT connected machines market.
MARKET DYNAMICS
The growing demand for real-time responses and timely functioning of IoT systems is a rising demand for IoT operating systems which ultimately supplement to the growth of the IoT connected machines market. However, the high cost of implementation of IoT may hamper the growth of the IoT connected machines market. Moreover, when machines and devices are connected to the internet, it provides insight about the processes and collect valuable information and give a comprehensive understanding about the real-time functioning which help to improves the productivity, thus rising implementation of the IoT which drives the growth of the market during the forecast period.
MARKET SCOPE
The "Global IoT Connected Machines Market Analysis to 2031" is a specialized and in-depth study of the IoT connected machines industry with a special focus on the global market trend analysis. The report aims to provide an overview IoT connected machines market with detailed market segmentation by component, end-user, and geography. The global IoT connected machines market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading IoT connected machines market players and offers key trends and opportunities in the IoT connected machines market.
MARKET SEGMENTATION
The global IoT connected machines market is segmented on the basis of component, end-user. On the basis of component the market is segmented as hardware, software, services. On the basis of end-user the market is segmented as automotive, manufacturing, healthcare, aerospace, oil and gas, power generation and utility, consumer electronics, others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global IoT connected machines market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The IoT connected machines market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting IoT connected machines market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the IoT connected machines market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global IoT connected machines market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The IoT connected machines market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting IoT connected machines market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the IoT connected machines market in these regions.
MARKET PLAYERS
The reports cover key developments in the IoT connected machines market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from IoT connected machines market are anticipated to lucrative growth opportunities in the future with the rising demand for IoT connected machines in the global market. Below mentioned is the list of few companies engaged in the IoT connected machines market.
The report also includes the profiles of key IoT connected machines companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Advantech Co., Ltd.
- AT&T Inc.
- B&R Industrial Automation GmbH
- Cisco Systems, Inc.
- Dell Inc.
- Honeywell International Inc.
- IBM Corporation
- Robert Bosch GmbH
- Rockwell Automation, Inc.
- Schneider Electric SE
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 IoT Connected Machines Market - By Component
1.3.2 IoT Connected Machines Market - By End-user
1.3.3 IoT Connected Machines Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IOT CONNECTED MACHINES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. IOT CONNECTED MACHINES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. IOT CONNECTED MACHINES MARKET - GLOBAL MARKET ANALYSIS
6.1. IOT CONNECTED MACHINES - GLOBAL MARKET OVERVIEW
6.2. IOT CONNECTED MACHINES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IOT CONNECTED MACHINES MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.3.3. IoT Kits Market
7.3.3.1. Overview
7.3.3.2. IoT Kits Market Forecast and Analysis
7.3.4. Gateways Market
7.3.4.1. Overview
7.3.4.2. Gateways Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
7.5.3. Consulting Services Market
7.5.3.1. Overview
7.5.3.2. Consulting Services Market Forecast and Analysis
7.5.4. Integration Services Market
7.5.4.1. Overview
7.5.4.2. Integration Services Market Forecast and Analysis
7.5.5. Support Services Market
7.5.5.1. Overview
7.5.5.2. Support Services Market Forecast and Analysis
8. IOT CONNECTED MACHINES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. MANUFACTURING
8.4.1. Overview
8.4.2. Manufacturing Market Forecast and Analysis
8.5. HEALTHCARE
8.5.1. Overview
8.5.2. Healthcare Market Forecast and Analysis
8.6. AEROSPACE
8.6.1. Overview
8.6.2. Aerospace Market Forecast and Analysis
8.7. OIL AND GAS
8.7.1. Overview
8.7.2. Oil and Gas Market Forecast and Analysis
8.8. POWER GENERATION AND UTILITY
8.8.1. Overview
8.8.2. Power Generation and Utility Market Forecast and Analysis
8.9. CONSUMER ELECTRONICS
8.9.1. Overview
8.9.2. Consumer Electronics Market Forecast and Analysis
8.10. OTHERS
8.10.1. Overview
8.10.2. Others Market Forecast and Analysis
9. IOT CONNECTED MACHINES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America IoT Connected Machines Market Overview
9.1.2 North America IoT Connected Machines Market Forecasts and Analysis
9.1.3 North America IoT Connected Machines Market Forecasts and Analysis - By Component
9.1.4 North America IoT Connected Machines Market Forecasts and Analysis - By End-user
9.1.5 North America IoT Connected Machines Market Forecasts and Analysis - By Countries
9.1.5.1 United States IoT Connected Machines Market
9.1.5.1.1 United States IoT Connected Machines Market by Component
9.1.5.1.2 United States IoT Connected Machines Market by End-user
9.1.5.2 Canada IoT Connected Machines Market
9.1.5.2.1 Canada IoT Connected Machines Market by Component
9.1.5.2.2 Canada IoT Connected Machines Market by End-user
9.1.5.3 Mexico IoT Connected Machines Market
9.1.5.3.1 Mexico IoT Connected Machines Market by Component
9.1.5.3.2 Mexico IoT Connected Machines Market by End-user
9.2. EUROPE
9.2.1 Europe IoT Connected Machines Market Overview
9.2.2 Europe IoT Connected Machines Market Forecasts and Analysis
9.2.3 Europe IoT Connected Machines Market Forecasts and Analysis - By Component
9.2.4 Europe IoT Connected Machines Market Forecasts and Analysis - By End-user
9.2.5 Europe IoT Connected Machines Market Forecasts and Analysis - By Countries
9.2.5.1 Germany IoT Connected Machines Market
9.2.5.1.1 Germany IoT Connected Machines Market by Component
9.2.5.1.2 Germany IoT Connected Machines Market by End-user
9.2.5.2 France IoT Connected Machines Market
9.2.5.2.1 France IoT Connected Machines Market by Component
9.2.5.2.2 France IoT Connected Machines Market by End-user
9.2.5.3 Italy IoT Connected Machines Market
9.2.5.3.1 Italy IoT Connected Machines Market by Component
9.2.5.3.2 Italy IoT Connected Machines Market by End-user
9.2.5.4 United Kingdom IoT Connected Machines Market
9.2.5.4.1 United Kingdom IoT Connected Machines Market by Component
9.2.5.4.2 United Kingdom IoT Connected Machines Market by End-user
9.2.5.5 Russia IoT Connected Machines Market
9.2.5.5.1 Russia IoT Connected Machines Market by Component
9.2.5.5.2 Russia IoT Connected Machines Market by End-user
9.2.5.6 Rest of Europe IoT Connected Machines Market
9.2.5.6.1 Rest of Europe IoT Connected Machines Market by Component
9.2.5.6.2 Rest of Europe IoT Connected Machines Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific IoT Connected Machines Market Overview
9.3.2 Asia-Pacific IoT Connected Machines Market Forecasts and Analysis
9.3.3 Asia-Pacific IoT Connected Machines Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific IoT Connected Machines Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific IoT Connected Machines Market Forecasts and Analysis - By Countries
9.3.5.1 Australia IoT Connected Machines Market
9.3.5.1.1 Australia IoT Connected Machines Market by Component
9.3.5.1.2 Australia IoT Connected Machines Market by End-user
9.3.5.2 China IoT Connected Machines Market
9.3.5.2.1 China IoT Connected Machines Market by Component
9.3.5.2.2 China IoT Connected Machines Market by End-user
9.3.5.3 India IoT Connected Machines Market
9.3.5.3.1 India IoT Connected Machines Market by Component
9.3.5.3.2 India IoT Connected Machines Market by End-user
9.3.5.4 Japan IoT Connected Machines Market
9.3.5.4.1 Japan IoT Connected Machines Market by Component
9.3.5.4.2 Japan IoT Connected Machines Market by End-user
9.3.5.5 South Korea IoT Connected Machines Market
9.3.5.5.1 South Korea IoT Connected Machines Market by Component
9.3.5.5.2 South Korea IoT Connected Machines Market by End-user
9.3.5.6 Rest of Asia-Pacific IoT Connected Machines Market
9.3.5.6.1 Rest of Asia-Pacific IoT Connected Machines Market by Component
9.3.5.6.2 Rest of Asia-Pacific IoT Connected Machines Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa IoT Connected Machines Market Overview
9.4.2 Middle East and Africa IoT Connected Machines Market Forecasts and Analysis
9.4.3 Middle East and Africa IoT Connected Machines Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa IoT Connected Machines Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa IoT Connected Machines Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa IoT Connected Machines Market
9.4.5.1.1 South Africa IoT Connected Machines Market by Component
9.4.5.1.2 South Africa IoT Connected Machines Market by End-user
9.4.5.2 Saudi Arabia IoT Connected Machines Market
9.4.5.2.1 Saudi Arabia IoT Connected Machines Market by Component
9.4.5.2.2 Saudi Arabia IoT Connected Machines Market by End-user
9.4.5.3 U.A.E IoT Connected Machines Market
9.4.5.3.1 U.A.E IoT Connected Machines Market by Component
9.4.5.3.2 U.A.E IoT Connected Machines Market by End-user
9.4.5.4 Rest of Middle East and Africa IoT Connected Machines Market
9.4.5.4.1 Rest of Middle East and Africa IoT Connected Machines Market by Component
9.4.5.4.2 Rest of Middle East and Africa IoT Connected Machines Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America IoT Connected Machines Market Overview
9.5.2 South and Central America IoT Connected Machines Market Forecasts and Analysis
9.5.3 South and Central America IoT Connected Machines Market Forecasts and Analysis - By Component
9.5.4 South and Central America IoT Connected Machines Market Forecasts and Analysis - By End-user
9.5.5 South and Central America IoT Connected Machines Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil IoT Connected Machines Market
9.5.5.1.1 Brazil IoT Connected Machines Market by Component
9.5.5.1.2 Brazil IoT Connected Machines Market by End-user
9.5.5.2 Argentina IoT Connected Machines Market
9.5.5.2.1 Argentina IoT Connected Machines Market by Component
9.5.5.2.2 Argentina IoT Connected Machines Market by End-user
9.5.5.3 Rest of South and Central America IoT Connected Machines Market
9.5.5.3.1 Rest of South and Central America IoT Connected Machines Market by Component
9.5.5.3.2 Rest of South and Central America IoT Connected Machines Market by End-user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. IOT CONNECTED MACHINES MARKET, KEY COMPANY PROFILES
11.1. ADVANTECH CO., LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ATANDT INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BANDR INDUSTRIAL AUTOMATION GMBH
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CISCO SYSTEMS, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. DELL INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HONEYWELL INTERNATIONAL INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. IBM CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ROBERT BOSCH GMBH
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ROCKWELL AUTOMATION, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SCHNEIDER ELECTRIC SE
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Advantech Co., Ltd.
2. ATandT Inc.
3. BandR Industrial Automation GmbH
4. Cisco Systems, Inc.
5. Dell Inc.
6. Honeywell International Inc.
7. IBM Corporation
8. Robert Bosch GmbH
9. Rockwell Automation, Inc.
10. Schneider Electric SE
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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