Iot Connected Machines Market
PUBLISHED: 2022 ID: SMRC21920
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Iot Connected Machines Market

Internet of Things (IoT) Connected Machines Market Forecasts to 2028 - Global Analysis By Component (Hardware, Software, Services), End User, (Transportation, Retail, Power Generation & Utility) and By Geography

4.6 (39 reviews)
4.6 (39 reviews)
Published: 2022 ID: SMRC21920

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $321.7 BN

Projected Year Value (2028)

US $800.14 BN

CAGR (2022 - 2028)

16.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Fastest Growing Market

Asia Pacific


According to Stratistics MRC, the Global IoT Connected Machines Market is accounted for $321.7 billion in 2022 and is expected to reach $800.14 billion by 2028 growing at a CAGR of 16.4% during the forecast period. IoT is a well-connected infrastructure where nearly every type of machine / device has basic inbuilt intelligence, which is used to transfer data and interact with other machines or devices.

According to the SAS Institute, the United Kingdom may benefit the most from the manufacturing sector, with IoT giving approximately around GBP 4,032 million of the total economy. Similarly, other economies are expected to invest heavily in the automation of the supply chain, thereby, driving the IoT adoption in the overall manufacturing sector. According to a study, around 34% of the manufacturers believe that it is extremely necessary that US manufacturers adopt IoT in operations. For manufacturers, IoT has become an ecosystem, where software, cloud computing, and analytics tools are combined, to turn raw data from different sources into meaningful predictions and present them in easy-to-use interfaces.



Market Dynamics:

Driver:

Rise in implementation of cloud computing

Businesses’ are gradually using maximum advantage of cloud platforms to make their operations swift, accessible, and elastic. The cloud computing infrastructure permits IoT to give meaning to the inflatable volume of data generated. The range of services accessible by cloud computing platforms contains data storage, processing, and analyzing. IoT can benefit M2M infrastructure with unlimited storage capabilities and resources of the cloud to compensate for its technological constraints such as processing, storage, and low energy transmission. The cloud technology also offers solutions to appliance IoT connected machines service management and applications that can process the data produced. Hence, increase in usage of cloud computing is predictable to augment the market.

Restraint:

Lack of knowledge

IoT projects bring numerous advantages to industries and infrastructure advantages from the government in all areas comprising transportation, building, utilities, and citizen services. Industries must guide their resources to optimally use the welfares of IoT. In several industries, it is observed that a small workforce knows about the operations and benefits of IoT. This lack of mindfulness among the people is an important factor slowing the development of a smart ecosystem. Also, there is unawareness about smart city projects among citizens at many places and that lowers the level of impetus by the governments to implement smart solutions for the cities.

Opportunity:

Development in healthcare sector

IoT connected machines in the healthcare sector are predictable to offer an opportunity to adapt their intellectual data analysis platform by placing foremost emphasis on health-related services and products. This data analysis is anticipated to optimize organizational performance, have better customer engagement, and gain cost efficiencies by efficiently managing patients through improved decision-making.

Threat:

Data breach & dependence of technology

Having access to data is excellent. Unfortunately, personal data is more unprotected. A credit card number is the most compromised information, followed by a debit card number. Data breaches are stressful. Companies also worry about them and can lose trust if their details are compromised by their clients. The worst devices are said to be off-brand IoT gadgets, second-hand smart devices, and suspicious apps. On the other hand, people are become primarily dependent on the IoT’s everyday usage. Business and private lives are also dependent on IoT. If they don’t get access to the desired information quickly, they become upset, even about the most unnecessary content. IoT has contributed to the great decrease in our attention spans.

Impact of Covid- 19

The COVID-19 epidemic has had a significant impact on the market for IoT. All provinces of the world have had a drastic impact on the supply chain of IoT sensors. The deployment of IoT and sensors has been halted in many projects due to a reduced workforce and slowdown in hardware supply. As the supply chain was impacted by the pandemic, there was a reduction in production from many manufacturing plants, resulting in a slowdown of demand for IoT products among the manufacturing units. On other hand, the pandemic has resulted in a rapid transition to ‘work from home’ setups, which increased the demand for automation and remote management. More emphasis is now being placed on IoT systems, especially for ensuring operational efficiency and cost-saving with less manpower.

The Hardware segment is expected to be the largest during the forecast period

The hardware segment is expected to be the largest during the forecast period, hardware in market is a physical device that is used for storing, processing, and retrieving information. It can be in the form of an integrated circuit, a printed circuit board, or a microprocessor. Hardware forms the basis of any computing system and it is classified into three categories input devices, output devices, and storage devices.

The Transportation segment is expected to have the highest CAGR during the forecast period

The transportation segment is expected to have the highest CAGR during the forecast period. The transportation industry is another foremost application for IoT-connected machines. In this industry, IoT-connected machines are used to remotely monitor and manage trains, buses, and other vehicles. This helps businesses to optimize their operations and advance passenger safety.

Region with highest share:

North America is projected to hold the largest market share during the forecast period, owing to increase in demand for improved diagnostic facilities, also proliferation of big data analytics, and is predictable to propel the market in the province. Moreover, increase in mobile application of IoT in health monitoring devices is another factor expanding the market in North America. Additionally, proliferating use of IoT devices in mobile healthcare has propelled the revenue generation in the provincial market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the upsurge in acceptance rate of IoT connected machines in the province. For instance, the Government of China reported the installation of around 278 million IoT devices in the country and improved the focus on building a strong IoT network site. Moreover, increasing acceptance of IoT connected machines in multiple industries will generate enormous revenue streams. Enormous uptake of IoT platforms in some developing economies has generated profitable avenues, notably in China.



Key players in the market

Some of the key players profiled in the IoT Connected Machines Market include Advantech Co., Ltd., AT&T, ABB, Beckhoff Automation, Cisco Systems, Inc., Dell Inc., General Electric, Honeywell International, Inc., IBM, Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric, Siemens.

Key Developments:

In February 2019, AT&T collaborated with Vodafone Group Plc, to develop advanced connected vehicle system, backed with IoT technology to offer enhanced safety and connectivity.

In November 2017, ABB Ltd partnered with Hewlett Packard Enterprise with an aim to combine ABB’s digital offerings, “ABB Ability” with HPE’s hybrid information technology (IT) solutions. ABB Ltd is expected to provide an installed base of 70 million IoT connected devices.

Components Covered:
• Hardware
• Software
• Services

End Users Covered:
• Transportation
• Retail
• Power Generation & Utility
• Oil & Gas
• Heavy Manufacturing
• Healthcare
• Consumer Electronics
• Building Automation
• Aviation
• Automotive
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global IoT Connected Machines Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Information Technology Machine Kits
5.2.2 Gateways
5.3 Software
5.4 Services
5.4.1 Support Services
5.4.2 Integration Services
5.4.3 Consulting Services

6 Global IoT Connected Machines Market, By End User
6.1 Introduction
6.2 Transportation
6.3 Retail
6.4 Power Generation & Utility
6.5 Oil & Gas
6.6 Heavy Manufacturing
6.7 Healthcare
6.8 Consumer Electronics
6.9 Building Automation
6.10 Aviation
6.11 Automotive
6.12 Other End Users
6.12.1 Mining
6.12.2 Agriculture

7 Global IoT Connected Machines Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 Advantech Co., Ltd.
9.2 AT&T
9.3 ABB
9.4 Beckhoff Automation
9.5 Cisco Systems, Inc.
9.6 Dell Inc.
9.7 General Electric
9.8 Honeywell International, Inc.
9.9 IBM
9.10 Robert Bosch GmbH
9.11 Rockwell Automation, Inc.
9.12 Schneider Electric
9.13 Siemens

List of Tables
1 Global IoT Connected Machines Market Outlook, By Region (2020-2028) ($MN)
2 Global IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
3 Global IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
4 Global IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
5 Global IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
6 Global IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
7 Global IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
8 Global IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
9 Global IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
10 Global IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
11 Global IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
12 Global IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
13 Global IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
14 Global IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
15 Global IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
16 Global IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
17 Global IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
18 Global IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
19 Global IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
20 Global IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
21 Global IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
22 Global IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
23 Global IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
24 Global IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)
25 North America IoT Connected Machines Market Outlook, By Country (2020-2028) ($MN)
26 North America IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
27 North America IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
28 North America IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
29 North America IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
30 North America IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
31 North America IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
32 North America IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
33 North America IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
34 North America IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
35 North America IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
36 North America IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
37 North America IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
38 North America IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
39 North America IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
40 North America IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
41 North America IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
42 North America IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
43 North America IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
44 North America IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
45 North America IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
46 North America IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
47 North America IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
48 North America IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)
49 Europe IoT Connected Machines Market Outlook, By Country (2020-2028) ($MN)
50 Europe IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
51 Europe IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
52 Europe IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
53 Europe IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
54 Europe IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
55 Europe IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
56 Europe IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
57 Europe IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
58 Europe IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
59 Europe IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
60 Europe IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
61 Europe IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
62 Europe IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
63 Europe IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
64 Europe IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
65 Europe IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
66 Europe IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
67 Europe IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
68 Europe IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
69 Europe IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
70 Europe IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
71 Europe IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
72 Europe IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)
73 Asia Pacific IoT Connected Machines Market Outlook, By Country (2020-2028) ($MN)
74 Asia Pacific IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
75 Asia Pacific IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
76 Asia Pacific IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
77 Asia Pacific IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
78 Asia Pacific IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
79 Asia Pacific IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
80 Asia Pacific IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
81 Asia Pacific IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
82 Asia Pacific IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
83 Asia Pacific IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
84 Asia Pacific IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
85 Asia Pacific IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
86 Asia Pacific IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
87 Asia Pacific IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
88 Asia Pacific IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
89 Asia Pacific IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
90 Asia Pacific IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
91 Asia Pacific IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
92 Asia Pacific IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
93 Asia Pacific IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
94 Asia Pacific IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
95 Asia Pacific IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
96 Asia Pacific IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)
97 South America IoT Connected Machines Market Outlook, By Country (2020-2028) ($MN)
98 South America IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
99 South America IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
100 South America IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
101 South America IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
102 South America IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
103 South America IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
104 South America IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
105 South America IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
106 South America IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
107 South America IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
108 South America IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
109 South America IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
110 South America IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
111 South America IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
112 South America IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
113 South America IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
114 South America IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
115 South America IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
116 South America IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
117 South America IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
118 South America IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
119 South America IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
120 South America IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)
121 Middle East & Africa IoT Connected Machines Market Outlook, By Country (2020-2028) ($MN)
122 Middle East & Africa IoT Connected Machines Market Outlook, By Component (2020-2028) ($MN)
123 Middle East & Africa IoT Connected Machines Market Outlook, By Hardware (2020-2028) ($MN)
124 Middle East & Africa IoT Connected Machines Market Outlook, By Information Technology Machine Kits (2020-2028) ($MN)
125 Middle East & Africa IoT Connected Machines Market Outlook, By Gateways (2020-2028) ($MN)
126 Middle East & Africa IoT Connected Machines Market Outlook, By Software (2020-2028) ($MN)
127 Middle East & Africa IoT Connected Machines Market Outlook, By Services (2020-2028) ($MN)
128 Middle East & Africa IoT Connected Machines Market Outlook, By Support Services (2020-2028) ($MN)
129 Middle East & Africa IoT Connected Machines Market Outlook, By Integration Services (2020-2028) ($MN)
130 Middle East & Africa IoT Connected Machines Market Outlook, By Consulting Services (2020-2028) ($MN)
131 Middle East & Africa IoT Connected Machines Market Outlook, By End User (2020-2028) ($MN)
132 Middle East & Africa IoT Connected Machines Market Outlook, By Transportation (2020-2028) ($MN)
133 Middle East & Africa IoT Connected Machines Market Outlook, By Retail (2020-2028) ($MN)
134 Middle East & Africa IoT Connected Machines Market Outlook, By Power Generation & Utility (2020-2028) ($MN)
135 Middle East & Africa IoT Connected Machines Market Outlook, By Oil & Gas (2020-2028) ($MN)
136 Middle East & Africa IoT Connected Machines Market Outlook, By Heavy Manufacturing (2020-2028) ($MN)
137 Middle East & Africa IoT Connected Machines Market Outlook, By Healthcare (2020-2028) ($MN)
138 Middle East & Africa IoT Connected Machines Market Outlook, By Consumer Electronics (2020-2028) ($MN)
139 Middle East & Africa IoT Connected Machines Market Outlook, By Building Automation (2020-2028) ($MN)
140 Middle East & Africa IoT Connected Machines Market Outlook, By Aviation (2020-2028) ($MN)
141 Middle East & Africa IoT Connected Machines Market Outlook, By Automotive (2020-2028) ($MN)
142 Middle East & Africa IoT Connected Machines Market Outlook, By Other End Users (2020-2028) ($MN)
143 Middle East & Africa IoT Connected Machines Market Outlook, By Mining (2020-2028) ($MN)
144 Middle East & Africa IoT Connected Machines Market Outlook, By Agriculture (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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Trusted by 600+ Brands

Serving the most reputed brands across the world.

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