Connected Machines Segmentation
Component (Hardware, Software, Services)
The hardware segment is expected to account for the largest revenue share of 52% by 2037. This growth can be attributed to factors such as rapid advancements in IoT gateways, industrial-grade sensors, and actuators used in connected machines, and growing automation across several sectors. Moreover, many public and private sectors, OEMs, and industrial automation leaders are investing in infrastructure modernization. For instance, in 2022, the National Institute of Standards and Technology (NIST) announced around $50.2 billion in subsidies and incentives to boost domestic semiconductor and sensor manufacturing, critical hardware for connected machines.
End use (Automotive, Aviation, Oil & Gas, Transportation, Power Generation & Utility, Manufacturing, Healthcare, Retail)
The manufacturing segment is expected to hold the largest revenue share of 25% in the connected machines market between 2025 and 2037. The manufacturing segment is expected to hold the largest revenue share of 25.0% between 2025 and 2037, owing to increasing incorporation of connected machines in the manufacturing sector to boost operational effectiveness, while performing predictive maintenance, which helps decrease equipment downtime. Real-time production information through IoT systems enables companies to respond quickly to equipment issues while optimizing their resource use. This transition helps manufacturers fulfill their smart manufacturing and Industry 4.0 objectives.
For instance, in November 2023, Siemens introduced the SIMATIC IPC520A Box PC with a 6-core NVIDIA Carmel processor and Jetson Xavier NX GPU. The AI-ready industrial computer delivers edge intelligence to critical manufacturing processes while enabling fast decisions for applications including machine vision and factory automation.
Our in-depth analysis of the global connected machines market includes the following segments:
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