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Connected Machines Market Trends

  • Report ID: 3009
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Connected Machines Market Trends

Growth Drivers

  • Increasing Focus on Remote Monitoring in Support of Work from Home Initiative
  • Growing Adoption of Smart Payment Technologies
  • Increasing Need of Real Time Analytics

Challenges

  • Lack of Skilled Workforce
  • Decline in Industrial Operation and Manufacturing Operations

 

Connected Machines Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Author Credits:  Abhishek Verma


  • Report ID: 3009
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing focus on remote monitoring in support of work from home initiative and increase in the adoption of technologies, such as AI, IoT, and ML are the key factors driving market growth.

The market is anticipated to attain a high CAGR over the forecast period, i.e., 2020-2029.

Lack of skilled workforce and decline in industrial operation and manufacturing operations are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the growing prominence of IoT and rising application of connected devices.

The major players dominating the connected machines market are General Electric Company, Robert Bosch GmbH, Cisco Systems, Inc., Advantech Co., Ltd., Rockwell Automation, Inc., Siemens AG, ABB Ltd among others.
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