Connected Machines Market Increasing need to build digital infrastructure for large-scale deployments and need of real time analytics to Drive the Market Growth 2029

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The connected machines market is projected to grow with a high CAGR during the forecast period,

i.e., 2020-2029 on account of the increasing adoption of smart payment technologies, increasing

need to build digital infrastructure for large-scale deployments and increasing need of real time

analytics.


The major players are also taking initiatives in terms of strategic partnerships, acquisitions and

collaborations to improve the flexibility and efficiency of their business operations and give them a

competitive edge over their challengers, recently ABB and HPE announced their partnership at the

global level for offering industry-based clients with powerful solutions generating actionable insights

from the continually rising, expansive amounts of data produced by businesses. Currently, ABB claims

to accommodate an installed base of 70 million connected devices.





On the basis of industry, the automotive industry in the global connected machines market is

projected to grow with a significant CAGR over the forecast period. Connected machines are

undergoing several innovations in the automotive industry.


Stakeholders are integrating IoT to tackle the alarming problem of traffic congestion in cities

across various countries. Incorporating IoT connected machines in the automotive landscape

is not just cost-effective but also helps manage traffic lights and plays a vital role as far as smart

parking solutions are concerned. Stakeholders in the connected machines market are increasing

focus on industries such as automotive and telecommunications. For instance, in February 2019,

AT&T – a leading American telecommunication company, and Vodafone Group Plc – a British

multinational telecommunication conglomerate, announced a collaboration to develop enhanced

connected vehicle technology to provide greater safety and better connectivity through

entertainment and telematics solutions for customers.


On the basis of region, the market is segmented into North America, Europe, Asia Pacific,

Latin America, and the Middle East & Africa, out of which, the connected machines market in

North America is estimated to secure a leading position in the market because of the growing

prominence of internet of things and rising application of connected devices. The growth of the

regional market could be supported by the early adoption of latest technologies and digitalization

practiced in several industry verticals. On the other hand, commercial users in Asia Pacific region

are projected to surge the demand for IoT connected machines owing to strong initiatives introduced

to improve IT infrastructure and rising adoption of the leading technologies.


Increasing Use of Cloud Computing and rising demand of real-time analytics in the healthcare industry to Drive Market Growth


Increasing demand in healthcare industry has opened up excess of opportunities. when

machines and devices are connected to the internet, they collect valuable information and

provide insights about the symptoms that help patients get a comprehensive understanding

about their health condition for further treatment. Thus, sensors and wearable devices help

collect and monitor data that can be sent for processing in real time.

The global connected machines in healthcare market size was USD 57.62 billion in 2019 and

is projected to exhibit a high CAGR during the forecast period. Additionally, increasing use of

cloud computing because of unlimited storage capabilities and resources, technological constraints

such as processing, storage, and energy. The cloud also offers solutions to implement IoT connected

machine service management and applications that can process the data produced.


This report also provides the existing competitive scenario of some of the key players of the global

connected machines market which includes company profiling of General Electric Company, Robert

Bosch GmbH, Cisco Systems, Inc., Advantech Co., Ltd., Rockwell Automation, Inc., Siemens AG,

ABB Ltd, Honeywell International Inc., B&R Industrial Automation GmbH, Beckhoff Automation.


The profiling enfolds key information of the companies which encompasses business overview,

products and services, key financials and recent news and developments. On the whole, the report

depicts detailed overview of the connected machines market that will help industry consultants,

equipment manufacturers, existing players searching for expansion opportunities, new players

searching possibilities and other stakeholders to align their market centric strategies according

to the ongoing and expected trends in the future.


Get Exclusive Sample Report Copy Of This Report @ https://www.researchnester.com/sample-request-3009


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