IoT adoption drives push for greater security

The global IoT in manufacturing market is said to be driven mainly by rising adoption of the cloud environment and a rise in the number of cost-effective, and intelligent connected devices.

Geographically, North America leads the global IoT in manufacturing market due to the increasing digitisation in manufacturing by large organisations and a growing number of SMEs. The Asia Pacific region is estimated to rise at the highest growth rate owing to the rising adoption of advanced and dynamic technologies and government investment in R&D for IoT in manufacturing solutions and services.

The report segments the global IoT in manufacturing market based on: solution, platform, application and vertical. The solution segment of IoT in manufacturing includes application management, device management, network management, data management, and smart surveillance. Based on vertical segment the market is classified into high-tech products, energy and utilities, healthcare, automotive, aerospace and defence, food and beverages, chemicals and material, and others, out of which energy and utilities is expected to grow at the highest CAGR since IoT is extensively used in energy and utilities to implement the IoT-based technology solutions and related services in the mining and oil & gas sectors.