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Connected Manufacturing Market Segmentation by Application (Operation Optimization, Real-Time Tracking, Predictive Maintenance); and by Organization Size (Large Enterprises, Small & Medium Enterprises) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Connected Manufacturing Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Connected Manufacturing Market Highlights 2020-2029

The connected manufacturing market is estimated to grow at a significant CAGR during the forecast period, i.e., 2021-2029. The increasing demand for enhancement in the operational efficiency and automation are expected to aid the growth of the market. The growth of the market can be attributed to the growing adoption of Internet of Things (IoT) which can help in predictive maintenance and centralized monitoring of industrial processes. As per a whitepaper by Cognizant, connected devices made possible by the Internet of Things (IoT) are here to stay – and the trend will only grow. As such, IoT presents unprecedented opportunities across industry sectors and processes. Leaders are already investing in IoT solutions — and are reaping benefits.

Connected Manufacturing Market Graph

The market is segmented based on application into operation optimization, real-time tracking, predictive maintenance, manufacturing analytics, and worker safety out of which, the operation optimization segment is anticipated to grab the largest share by the end of 2021 on account of increasing need for optimizing and improving efficiency of manufacturing operations. Moreover, the increasing adoption of Industry 4.0 and automation is expected to drive the growth of the market. CLICK TO DOWNLOAD SAMPLE REPORT 

On the basis of organization size, the large enterprises segment in the global connected manufacturing market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that large enterprises have the financial resources to aid the deployment of technologies that are required for connected manufacturing. Also, large enterprises require sophisticated systems to predict, evaluate and proactive resolution of issues in a very dense network of processes for which connected manufacturing technologies are best suited.

Connected Manufacturing Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the highest CAGR over the forecast period due to the increasing number of industries and increasing spending on improved performance, security, and economic stability. Technological advancements in the region to increase operation efficiency and production in countries such as China and India are expected to drive the growth rate in the Asia-Pacific region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the presence of major industries in the region. Along with this, North America also leads in terms of investments and has a financially strong portfolio of industries essential in the deployment of connected technologies for manufacturing, which is also expected to contribute to the market growth in the region.

Connected Manufacturing Market Share Image

The global connected manufacturing market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global connected manufacturing market includes the following segments:

By Application

  • Operation Optimization
  • Real Time Tracking
  • Predictive Maintenance
  • Manufacturing Analytics
  • Worker Safety
  • Others

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

Growth Drivers

  • Increasing demand for automation & interconnected devices
  • Technological advancements in network, software, and devices

 Challenges

  • Risks to data privacy and system hacking

Top Featured Companies Dominating the Market

  •  Robert Bosch GmbH
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Cisco Inc.
  • General Electric Company
  • IBM Corp.
  • SAP
  • Software AG
  • Cognizant
  • Others

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