Navigating IoT Growth: Manufacturing Market Insights
The IoT in Manufacturing Market, valued at US$ 52.24 billion in 2022, is poised for rapid expansion. According to Stratview Research, the market is projected to grow at a CAGR of 11.4% between 2023 and 2029, reaching US$ 111.21 billion by 2029. This surge is largely driven by IoT's role in streamlining operations, reducing costs, and enhancing productivity. The Asia-Pacific region is expected to witness the fastest growth, driven by technological advancements and increased adoption of IoT across industries.