Iot In Manufacturing Market Worth $87.9 Billion By 2026, Growing At A Cagr Of 11.9%: Report By Marketsandmarkets

The global IoT in Manufacturing Market size is expected to grow from USD 50.0 billion in 2021 to USD 87.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9%. IoT in manufacturing is a technique of digital transformation that the manufacturing companies adopt for their efficient working of machines and their employees. This adoption of IoT enables manufacturing units to automate their processes and are used for reducing cost, shorter time to market, mass customization, and improve safety.