Global Connected Machines Market Size, Forecast and Trend Highlights Over 2025-2037
Connected Machines Market size was valued at USD 176.2 billion in 2024 and is projected to reach USD 990.1 billion by the end of 2037, expanding at a CAGR of 14.2% during the forecast period, i.e., between 2025 and 2037. In 2025, the industry size of connected machines is estimated to reach USD 196.6 billion.
The connected machines sector has witnessed rapid shifts in production costs in recent years. As per the records by the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) for communications and related components increased from 136.9 in September 2024 to 143.2 by January 2025, signifying the increasing expenses in manufacturing components, including sensors, embedded systems, and controllers. Moreover, the changing global trade dynamics is significantly fueling the market growth. For instance, in 2023, the U.S. saw a substantial increase of 13.2% in the import of electronic components, compared to the previous year. This highlights the importance of a resilient supply chain and strategic sourcing while maintaining competitiveness.
