Unveiling Opportunities: IoT in Manufacturing Forecast
The IoT in Manufacturing Market was valued at US$ 52.24 billion in 2022 and is projected to grow significantly. Stratview Research forecasts a healthy CAGR of 11.4% from 2023 to 2029, reaching US$ 111.21 billion by 2029. This growth is fueled by IoT’s ability to optimize production, enhance supply chains, and reduce operational costs. The Asia-Pacific region is set to experience the highest growth rate during the forecast period, driven by increasing digital transformation and IoT adoption across industries.