IoT Connected Machines Market to Reach Worth of US$ 1.10 Trillion by 2031: TMR Study

Rising demand for IoT applications in industrial sectors notably for smart manufacturing to generate revenue streams in IoT connected machines market

Wilmington, Delaware, United States, Aug. 26, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A recent IoT connected devices forecast underscores the trend of rapidly growing numbers of IoT devices in the automotive, medical and healthcare, and manufacturing sectors. Expanding consumer knowledge of how to connect IoT devices with next-gen machine-to-machine (M2M) architecture has led to a spurt of opportunities in vehicle-to-infrastructure applications, mobile healthcare, and smart city projects. The global IoT connected machines market is projected to advance at a CAGR of 15.4% during 2022–2031.

IoT device companies in the market are putting high bets on strategic investments in IoT software and next-gen connectivity standards notably 5G. They are likely to leverage these to offer digitized experience to customers and enable and support digital transformation for industries. Thus, commercialization of such next-gen IoT solutions based on these will help them augment IoT market share.

Request Sample Report at -

Key Findings of IoT Connected Machines Market Study

  • Application of IoT in Smart Manufacturing Underpins Profitable Avenues: Especially in manufacturing sector, the use cases of IoT have proliferated over the years, used to connect machines with other industrial assets, and eventually leading to vast productivity improvements.

  • Adoption of Advanced M2M Technology in Various Automotive and Healthcare Applications to Generate Abundant Opportunities: Products in IoT connected machines market are gathering traction in mobile patient care by being incorporated in spate of wearable medical devices. IoT connectivity is also offering several benefits in hospital operations management such as in pharmacy operations and general administration tasks, such as environment monitoring and asset management. Growing clinical prospects of IoT connected machines in patient care will open up new revenue streams. Apart from healthcare, automotive industry has witnessed enormous demand for IoT connected machines for use in V2V/V2I applications. Over the past few years, application of IoT technology in fleet management has created incredible avenues in the IoT connected machines market.
  • Incorporation of 5G Connectivity Expanding Revenue Possibilities: Rise in 5G subscriptions in recent years and penetration of machine learning language (ML) and machine-to-person (M2P) have extended the canvas for industry players in the IoT connected machines market. Growing use cases of IoT in commercial applications will open up new frontiers.

Ask for References -

IoT Connected Machines Market: Key Drivers

  • Growing penetration of advanced connectivity and internet of things (IoT) technologies in industrial sectors such as AI, 5G, and cloud computing is a key driver of the IoT connected machines market.
  • Advancement in M2M infrastructure pivoting on back of incorporation of advanced sensor and actuation technologies has paved the way to digitalization in industrial processes. Growing usage of IoT in smart manufacturing operations has spurred the demand.

IoT Connected Machines Market: Regional Dynamics

  • North America is projected to hold a major share of the global IoT connected machines market during the forecast period. Proliferating use of IoT devices in mobile healthcare has propelled the revenue generation in the regional market.

  • Asia Pacific is a potentially lucrative region in IoT connected machines market, and the regional market is anticipated to expand at the most attractive CAGR during the forecast period. Rising adoption of IoT connected machines in multiple industries will generate enormous revenue streams. Massive uptake of IoT platforms in some emerging economies has created profitable avenues, notably in China.

Make an Enquiry before Buying -

IoT Connected Machines Market: Competition Landscape

Key players in the IoT connected machines market are leaning on expansion of product portfolio to garner competitive edge over others. Some of the key players are Schneider Electric, Schneider Electric, Rockwell Automation, Inc., IBM, Honeywell International, Inc., General Electric, Cisco Systems, Inc., Advantech Co., Ltd., Beckhoff Automation, ABB, and AT&T.

IoT Connected Machines Market Segmentation

  • Component
    • Hardware
      • IoT Kits
      • Gateways
    • Software
    • Services
      • Consulting
      • Integration
      • Support
  • End-use Industry
    • Automotive
    • Oil & Gas
    • Manufacturing
    • Energy & Utility
    • Transportation
    • Healthcare
    • Others (Building Automation, Mining, and Agriculture)


  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

It and Telecom Research Reports

Mobile Point-of-Sale (mPOS) Terminals Market - The global mobile point-of-sale (mPOS) terminals market is expected to reach US$ 64.79 Bn by the end of 2031, rise at a CAGR of 15.1% from 2022 to 2031

Automated Fingerprint Identification Systems Market- Automated Fingerprint Identification Systems Market is estimated to expand at a CAGR of 22% from 2019 and 2027

Cloud Workload Protection Platform [CWPP] Market- The global cloud workload protection platform (CWPP) market is estimated to exceed value of US$ 22 Bn by 2030, expanding at a CAGR of ~25% during the forecast period

Telecommunication Market- Telecommunication market is projected to expand at a CAGR of ~5% from 2020 to 2030

Artificial Intelligence Market- Artificial intelligence market is expected to advance at an explosive CAGR of 29% during the assessment period.

Video Analytics Market- Video Analytics Market is expected to surpass the value of US$ 37.85 Bn by 2031, It is estimated to expand at a CAGR of 21.3% from 2022 to 2031

Digital Experience Monitoring [DEM] Market- Digital Experience Monitoring Market size is expected to reach US$ 6.53 Bn by the end of 2031, expand at a CAGR of 18.3% from 2022 to 2031

Managed Security Services Market- Managed Security Services Market is expected to reach US$ 53.22 Bn by the end of 2031, expand at a CAGR of 14.2% from 2022 to 2031

About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel –

Contact Us:

Rohit Bhisey
Transparency Market Research Inc.
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA – Canada Toll Free: 866-552-3453