Connected Machines Market Analysis

The market is segmented based on component into hardware, software and services out of which, the hardware sub segment is estimated to grab the largest market size owning to the evolution of IoT gateways. IoT gateways are growing and connecting billions of devices across countries. An IoT gateway compiles sensor data, analyzes sensor protocols, and processes it before deploying it for further use. Moreover, software sub-segment is projected to hold the significant market share owning to the increasing demand for IoT-connected machines and focus on their supply chain network to be equipped with close convergence for making end-to-end visibility and collaboration a reality. The market could experience a high positive impact due to the emergence of big data as connectivity between machines. Furthermore, a greater emphasis is laid on secure backend and production floor operations.

Our in-depth analysis of the global market includes the following segments: