Security News > 2021 > January > Global IoT in manufacturing market size to reach $1.0388 billion by 2026

The global IoT in manufacturing market size is projected to reach $1.0388 billion by 2026, from $567.2 million in 2020, according to Valuates Reports.

Major factors driving the growth of IoT in manufacturing market size are the growing need for centralized monitoring and predictive maintenance of manufacturing infrastructure, agile production, operational efficiency, and increasing adoption of the cloud.

Trends influencing the IoT in manufacturing market size.

The rise in demand for real-time asset monitoring is expected to increase the growth of IoT in manufacturing market size.

Advancements in technologies such as smart sensors, virtual & augmented reality are expected to fuel IoT in manufacturing market size.

The rising adoption of smart, safe, and connected technologies for asset-centric applications is expected to increase IoT in this region's manufacturing market size.

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