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.
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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.