According to the Information Technology and Innovation Foundation (ITIF), IoT applications for monitoring machine utilization can increase manufacturing productivity by 10% to 25%. BC Machining LLC, a metal parts manufacturer, onboarded a machine utilization monitoring solution that helps in improving productivity, while optimizing the utilization of computer numerical control (CNC) machines. IIoT solutions capture real-time data from equipment sensors to provide reports on the machines’ cycle times, downtime, and other parameters. According to Zebra’s latest Manufacturing Vision Study, smart asset tracking solutions based on RFID and IoT are expected to over take traditional, spreadsheet-based methods by 2022. Sekisui Alveo AG, a polyolefin foam materials manufacturer, implemented an inventory management solution based on RFID and IIoT devices. This helped it in viewing inventory levels, while locating specific inventory items in real time. With the increasing demand for IoT in manufacturing, companies are entering into strategic partnerships, to gain a competitive advantage. In 2019, the BMW Group collaborated with Microsoft, primarily for the establishment of a manufacturing platform, in order to develop and encourage collaborative IoT development in the manufacturing sector.

1. INTRODUCTION   

2. RESEARCH METHODOLOGY   

3. EXECUTIVE SUMMARY   

4. MARKET INSIGHTS   

5. MARKET DYNAMICS   

6. INDUSTRY POLICIES

7. TECHNOLOGY SNAPSHOT

8.MARKETSEGMENTATION

9. KEY VENDOR PROFILES

10. INVESTMENT ANALYSIS

11.  FUTURE OF THE MARKET