IOT in Manufacturing Market Size, Share, Growth Analysis, By Component(Solution, Services), By End-use(Network management (Network Bandwidth Management, Network Security Management, Network Performance Monitoring and Management, Network configuration management)), By Services(Managed services (Infrastructure management services, Security management services, Network management services, Data management services), By Deployment mode(On-premises, Cloud), By Organization size(Small and Medium Enterprises, Large Enterprises), By Application(Predictive maintenance, Business process optimization, Asset tracking and management, Logistics and supply chain management), By Vertical(Process manufacturing (Energy and utilities, Chemical and materials, Food and beverages, Water and waste management), By Region - Industry Forecast 2025-2032

IOT in Manufacturing Market size was valued at USD 395.79 Billion in 2023 and is poised to grow from USD 488.01 Billion in 2024 to USD 2606.97 Billion by 2032, growing at a CAGR of 23.30% during the forecast period (2025-2032).

The growth of IoT in the manufacturing market is being boosted by the increasing adoption of automated & intelligent technologies, which helps in improving production efficiency and minimizes environmental effect. In various production facilities efficiency can be increased through intelligent production and process management strategies. This helps the manufacturers in manufacturing items more quickly and cheaply. Furthermore, such advanced technologies allow businesses to learn about customer preferences so that they can design products as per their preference. The demand for IoT technology is increasing in many manufacturing firms due to improved worker safety, customer service, and competitive benefits. 

Industrial automation has grown significantly in the manufacturing sector. Producers are focusing more on producing large quantities of high-quality products because of increased consumer demand and market competitiveness. As a result, they are now emphasizing important aspects of the facilities like the manufacturing process, asset monitoring, and asset maintenance and support. By using automation, manufacturers could increase productivity, minimize direct labor expenses, enhance the consistency of their processes or products, and produce higher-quality goods. The improvement of industrial automation in the manufacturing industry depends on the Internet of Things (IoT).