IoT Connected Machines Market to Grow USD 756.43 billion by 2032, fueled by the growing adoption of IoT technologies across various industries | SNS Insider
The growing need for industrial automation is driving the adoption of IoT-connected machines, enhancing efficiency and real-time monitoring.
Austin, March 13, 2025 (GLOBE NEWSWIRE) — IoT Connected Machines Market Size & Growth Insights:
According to the SNS Insider Report, “The IoT Connected Machines Market Size was valued at USD 164.34 Billion in 2023 and is expected to increase to USD 756.43 Billion by 2032, expanding at a CAGR of 18.49% between 2024 and 2032.”
Accelerating Growth of IoT-Connected Machines through Innovation
As organizations increasingly adopt IoT technologies for real-time monitoring, predictive maintenance, and operational efficiency, the IoT Connected Machines Market is witnessing tremendous growth. Industries such as manufacturing, automotive, healthcare, and logistics are utilizing IoT-enabled automation to enhance automation, decrease downtime, and streamline processes. Moreover, Industry 4.0 and smart factories have helped speed up this adoption due to improvement of production quality and decision making. Moreover, integration with AI and machine learning enhances predictive abilities and minimizes machine failures. With broad network coverage and high-bandwidth connections, the deployment of cloud computing is also on the rise, which can accelerate the speed of data transmission. With an increasing demand for sustainability, IoT machines assist in the monitoring process of power consumption. These innovations fuel digital transformation as they enhance productivity, cost savings, and engineering innovation in various industries.
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Leading Market Players with their Product Listed in this Report are:
- IBM Corporation (Watson IoT, IBM Maximo)
- Siemens AG (MindSphere, Industrial IoT)
- Honeywell International Inc. (Honeywell Connected Plant, IoT for Industrial Applications)
- Intel Corporation (Intel IoT Solutions, Intel IoT Platform)
- General Electric Company (Predix, Industrial Internet of Things)
- Hitachi Ltd. (Lumada, IoT Data Management)
- PTC Ltd. (ThingWorx, IoT Application Enablement Platform)
- ABB Ltd. (ABB Ability, IoT Solutions for Industry)
- Rockwell Automation (FactoryTalk InnovationSuite, Connected Enterprise)
- Schneider Electric (EcoStruxure, IoT-enabled Energy Management Solutions)
- Cisco Systems Inc. (Cisco IoT, IoT Connectivity Solutions)
- Microsoft Corporation (Azure IoT, Microsoft IoT Solutions)
- Qualcomm Inc. (Qualcomm IoT, IoT Chipsets)
- Oracle Corporation (Oracle IoT Cloud, IoT Fleet Management)
- Amazon Web Services (AWS) (AWS IoT Core, AWS IoT Analytics)
- Bosch Software Innovations (Bosch IoT Suite, Industrial IoT Platforms)
- Ericsson AB (Ericsson IoT Accelerator, IoT Connectivity Solutions)
- Arm Holdings (Arm IoT Solutions, Arm Mbed)
- NXP Semiconductors (NXP IoT Solutions, IoT Processors)
- SAP SE (SAP Leonardo IoT, SAP Cloud Platform IoT).
IoT Connected Machines Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 164.34 Billion |
| Market Size by 2032 | USD 756.43 Billion |
| CAGR | CAGR of 18.49% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (IoT Gateways, I/O Modules, IoT Sensors, Others [PLCs])
• By Industry (Automotive, Aerospace & Defense, Logistics & Transportation, Manufacturing, Power and Utilities, Healthcare, Oil & Gas, Others [Chemical]) |
| Key Drivers | • The growing adoption of industrial automation, driven by the need for operational efficiency, is propelling the IoT-connected machines market, with real-time monitoring, predictive maintenance, and reduced downtime leading to improved productivity and cost savings. |
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Industrial Automation Fueling IoT-Connected Machines Market Growth
The increasing adoption of industrial automation is a major driver of the IoT-connected machines market, enhancing efficiency through real-time monitoring, predictive maintenance, and reduced downtime. IoT-enabled machines integrate sensors and data analytics to detect potential failures early, minimizing disruptions and extending equipment lifespan. This proactive maintenance approach boosts productivity and reduces costly repairs. Additionally, automation decreases reliance on manual labor for routine monitoring, optimizing resource allocation. The expansion of advanced connectivity solutions like 5G further accelerates IoT adoption, enabling seamless integration and enhanced automation capabilities across industries.
Dominance of IoT Gateways and Manufacturing Sector in the IoT Connected Machines Market
By Component
In 2023, the IoT Gateways segment held over 42% market share due to its crucial role in enabling seamless communication between machines and networks. Acting as intermediaries, these gateways facilitate real-time data transfer to the cloud, ensuring efficient monitoring and control. They convert machine data into compatible formats for various network protocols, allowing interoperability across different manufacturers.
By Industry
The manufacturing sector led with over 25% market share, driven by the adoption of IoT for predictive maintenance, reducing downtime and costs. IoT solutions optimize efficiency by providing real-time insights into production, inventory, and machine performance. The rise of smart factories further accelerates adoption, enabling automation, remote monitoring, and enhanced decision-making.
Regional Leadership and Growth Trends in the IoT Connected Machines Market
North America held the largest share of the IoT Connected Machines Market, accounting for 38% due to its well-established technological infrastructure and the early adoption of IoT solutions. The robust industrial landscape in the US and Canada, notably in manufacturing, automotive, and logistics sectors, has hastened the IoT integration. The top technology companies and IoT companies have been pivotal in implementing smart machines, increasing automation, and streamlining operations. This can be attributed to favorable government policies, increasing emphasis on Research and Development investments (R&D investments), and strong cybersecurity frameworks that will further contribute to market growth.
Asia-Pacific is experiencing significant growth in the IoT-connected machines market, driven by rapid industrialization and technological advancements in China, India, and Japan. Industries across the region are adopting IoT solutions to enhance efficiency, reduce costs, and improve product quality. Government initiatives promoting smart cities and digital transformation further accelerate adoption, fostering innovation in manufacturing, automotive, and healthcare sectors. As businesses seek automation and data-driven decision-making, the demand for IoT-connected machines continues to rise, positioning Asia-Pacific as a key player in the global IoT landscape.
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Recent Development
- 13 January 2025, IBM–AI-driven edge computing solutions by IBM are transforming the IoT by facilitating real-time data processing resulting in greater automation and operational efficiency. The ability to provide dedicated bandwidth for mission-critical IoT applications is further enhanced with Verizon’s 5G network slicing technology and Siemens offering of industrial IoT advancements driving highly-connected environments.
- On April 19, 2024, Siemens introduced its advanced Connection Module IoT, offering plug-and-play connectivity for drivetrain monitoring. The system partners with Drivetrain Analyzer Cloud for live condition monitoring and predictive maintenance that is tailored for low-voltage motors.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Adoption and Penetration Metrics
5.2 Technology-Specific Metrics
5.3 Operational Performance Metrics
5.4 User and Customer Metrics
6. Competitive Landscape
7. IoT Connected Machines Market, by Component
8. IoT Connected Machines Market, by Industry
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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