IoT in Manufacturing Market Surges to $142.63 billion by 2031 | CAGR 10.1%
Delray Beach, FL, May 11, 2026 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the IoT in Manufacturing Market is projected to grow from USD 87.98 billion in 2026 to USD 142.63 billion by 2031 at a CAGR of 10.1% during the forecast period.
Browse 355 market data Tables and 55 Figures spread through 350 Pages and in-depth TOC on "IoT in Manufacturing Market - Global Forecast to 2031"
IoT in Manufacturing Market Share & Growth:
- Market Size Available for Years: 2020–2031
- 2026 Market Size: USD 87.98 billion
- 2031 Projected Market Size: USD 142.63 billion
- CAGR (2026–2031): 10.1%
IoT in Manufacturing Market Analysis & Forecast:
- Rapid digital innovation is reshaping the IoT in manufacturing market.
- North America accounts for the largest market share.
- The solutions segment held the largest share of the IoT in manufacturing market.
- The cloud segment recorded the highest CAGR in the IoT in manufacturing market during the forecast period.
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The rapid advancements in digital technologies are significantly transforming the IoT in the manufacturing market. The integration of IoT with technologies such as artificial intelligence, machine learning, and edge computing is enabling manufacturers to achieve real-time monitoring, predictive maintenance, and improved operational efficiency. These smart systems allow machines to communicate with each other, reducing downtime and optimizing production processes.
Additionally, advanced sensors and connected devices are generating large volumes of data, which can be analyzed to improve decision-making and enhance productivity. As manufacturers increasingly focus on automation and smart factory initiatives, IoT is becoming a core component of modern industrial ecosystems. This technological evolution is helping organizations minimize costs, improve quality, and increase overall efficiency, thereby driving strong growth in the IoT in manufacturing market.
North America holds the largest market size.
North America holds the largest market share in the IoT in manufacturing market during the forecast period, driven by the early adoption of advanced technologies and strong industrial infrastructure. The presence of leading technology providers and manufacturing companies in the United States and Canada is significantly contributing to market growth. Organizations in this region are increasingly investing in smart manufacturing, automation, and Industry 4.0 initiatives to enhance productivity and maintain global competitiveness.
Additionally, the availability of high-speed connectivity, including widespread 5G deployment, is enabling seamless integration of IoT solutions across manufacturing operations. Industries such as automotive, aerospace, and electronics are actively implementing IoT solutions for predictive maintenance, asset tracking, and process optimization. As a result, North America continues to dominate the market with strong technological capabilities and high investment levels.
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The solutions segment contributed the largest market share for IoT in manufacturing.
The solutions segment is expected to contribute the largest market share in the IoT in manufacturing market, as organizations increasingly adopt integrated platforms to manage complex industrial operations. Manufacturers require comprehensive solutions that combine device connectivity, data analytics, monitoring, and control within a single system. These solutions help eliminate fragmented systems and improve visibility across production processes. By leveraging IoT solutions, companies can monitor machine performance in real-time, predict equipment failures, and optimize resource utilization.
This reduces downtime, enhances productivity, and improves overall operational efficiency. The demand for customized and scalable solutions is particularly high in industries such as automotive, electronics, and heavy machinery. As manufacturing environments become more complex, the need for end-to-end IoT solutions continues to grow, making this segment a key contributor to market expansion.
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The cloud segment registered the highest CAGR in the IoT in manufacturing market during the forecast period.
The cloud segment is expected to register the highest CAGR in the IoT in manufacturing market during the forecast period, driven by the increasing demand for scalable and flexible data management solutions. Cloud-based platforms enable manufacturers to store and process large volumes of data generated by IoT devices without the need for heavy on-premise infrastructure. This allows organizations to access real-time insights, improve decision-making, and enhance operational efficiency.
Additionally, cloud solutions support remote monitoring and management of manufacturing operations, which is especially beneficial for companies with multiple production sites. The integration of advanced analytics, AI, and machine learning with cloud platforms further enhances their capabilities. As businesses continue to focus on digital transformation and cost optimization, the adoption of cloud-based IoT solutions is rapidly increasing, making it the fastest-growing segment in the market.
Companies in IoT in Manufacturing Market:
Companies in IoT in Manufacturing Market include IBM (US), Microsoft (US), Google (US), Palantir (US), Oracle (US), SAS Institute (US), SAP (Germany), Adobe (US), Zoho (India), Sisense (US), Workday (US), Infor (US), Epic Systems (US), Savant Labs (US), AWS (US), Mu Sigma (US), and other vendors.
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