Internet of Things (IoT) connect machines to build an ecosystem transforming them into intelligent broader embedded systems. They help facilitate real-time data tracking, enabling marketing and effective communication of any business leveraging connected machines. This helps to bring about process optimization through transparency, traceability, adaptability, scalability, and flexibility to the system. This also helps to bring about optimized resource consumption of the factors of production involved in each project. Further, the IoT connected machines bring about real time control and response over the complicated automated processes.
The market for IoT connected machines can be divided based on different parameters. Depending upon the solution, for example, it can be segmented into accessible and secure information, integrated safety, simplified integration, operational efficiency, real time analytics, etc.
Based on the type of deployment, the market for IoT connected machines can be divided into cloud and on premises. Application-wise, the key segments of the market are smart homes, automotive, entertainment, manufacturing, power and energy, IT, banking, financial service and insurance (BFSI), utilities, and others. Additionally, the IoT connected machines market can be segmented on the basis of geography into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Some of the prominent participants in the global IoT connected machines market are Robert Bosch GmbH, Cisco Systems, Inc., General Electric Company, AT&T Inc., Dell Inc., IBM, Siemens AG, Rockwell Automation, Inc., Ericsson, Bernecker + Rainer Industrie-Elektronik, Honeywell International Inc., Advantech Co., Ltd, Schneider Electric SE, and Beckhoff Automation.
IoT Connected machines create an ecosystem using Internet of Things (IoT) to connect different machines transforming them into intelligent broader embedded systems. The data of these machines can be best supplied to the machine maker’s end too for addressing issues if any arises in the middle of a project. Nowadays, the IoT connected machines are built upon two approaches, one inside factory where information regarding productivity of a machine has to be supplied to the key participants in the connected machine ecosystem.
The other approach is much more macro level, the outside factory approach where information regarding a machine is supplied to the key ecosystem participants when the machine has reached the customers end and timely interaction with the machine maker is required to understand the working of machine in real conditions.
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The IoT connected machines are expected to bring about real time data tracking enabling marketing and effective communication of any business using connected machines. The key participants in the IoT connected machines can have enhanced situational awareness with the deployment of IoT connected machines.
Furthermore, the IoT connected machine also furnishes sensor driven analytics for its ecosystem, participants to take informed decision. Moreover, the IoT connected machines allow process optimization by bringing transparency, traceability, adaptability, scalability and flexibility to the system. It also furnishes optimized resource consumption of the factors of production involved in each project. Additionally, the IoT connected machines allow real time control and response over the complex automated processes.
Some of the key players in the IoT connected machines market are Cisco Systems, Inc., AT&T Inc., Robert Bosch GmbH, Dell Inc., General Electric Company, IBM (International Business Machines Corporation, Siemens AG, Rockwell Automation, Inc., Ericsson, Honeywell International Inc., Schneider Electric SE, Advantech Co., Ltd, Beckhoff Automation, and Bernecker + Rainer Industrie-Elektronik.