Smart Connected Assets and Operations Market is estimated to grow at an impressive CAGR of 9.6 % between 2024 and 2030

Smart Connected Assets and Operations Market is likely to cross USD 447633 million by 2030 with a CAGR of around 9.6 % between 2024 and 2030.

PUNE, INDIA, May 22, 2024 /EINPresswire.com/ -- Smart Connected Assets and Operations Market is anticipated to reach USD 447633.82 million by 2030 with a CAGR of around 9.6 % between 2024 and 2030, according to the latest report by Profshare Market Research.

Organizations use IoT-based solutions such as Smart Connected Assets and Operations that help to automatically detect and respond to problems intelligently. Asset-intensive industries such as Energy & power, Factory automation, and Automobile need operational efficiency and hence it reduces operating costs. The most important objective in the manufacturing industry is to deliver quality products to the consumer on time. Smart Connected Operations enable these companies to meet this objective competently.

Industrial Internet of Things (IIoT) reshaping the traditional manufacturing of products like cars to IIOT-based Products as a Service (PaaS) such as on-demand transportation. Ensuring consistent quality of products and delivering value to the customers are the primary goals of the manufacturers. With Smart Connected Assets and Operations, companies can operate without unplanned downtime, inaccurate maintenance reporting, and high maintenance and support costs.

APM software, Hardware and Service are the primary modules included in the Smart Connected Assets and Operations Market study. APM software module holds the highest market share in 2023 and is expected to show an impressive growth rate between 2024 to 2030. APM software and platforms are widely used by large manufacturing and energy organizations to improve overall productivity. Hardware and Service modules are also estimated to grow at a significant CAGR during the forecast period.

Global Smart Connected Assets and Operations Market is driven by the rising adoption of the Industrial Internet of Things (IIoT) in industries like Automotive & Transportation, Energy & Power, Healthcare, Smart agriculture, and Factory automation. The study figures out that the Automotive & transportation segment is estimated to show the highest growth rate of over 10 % during the forecast period. Rising technological advancement and growing adoption in SMEs are likely to propel the growth of the market.

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Smart Connected Assets and Operations Market report delivers a comprehensive analysis of the major regions like North America, Europe, Asia-Pacific, Middle East, South America, and Rest of the World. North America holds the highest market share and is expected to show strong growth in the upcoming years. Massive industrialization and early adoption of the advanced Internet of Things are the primary reasons for the region's impressive growth.

Europe ranks second in terms of revenue generation and the regional market shows impressive growth trends. The region has prominent IoT players and integrated the Industrial Internet of Things (IIoT) in many sectors like Industrial, Automotive and Healthcare. Active healthcare IoT devices are likely to grow at a CAGR of well over 25 % in the upcoming years.

Asia-Pacific Smart Connected Assets and Operations Market is likely to register the highest CAGR between 2024 to 2030. The tremendous growth in industrialization and heavy investment from the market leaders especially from the manufacturing sector are driving forces of the regional market. China, Japan, South Korea and India hold more than 80 % of total regional revenue in 2023.

Analytical data presented in the form of Tables & Figures makes it easier for the user to understand the complex market insights. The research report uses various analytical methodologies and models. Some of the important models are SWOT analysis, PESTEL, PORTERS and various others. A wide spectrum of analytical methods used to prepare the research study helps to achieve a higher precision level. The study focuses on industry chain analysis, upstream and downstream aspects, key players, process analysis, cost analysis, market distribution channels, and major downstream organizations.


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The Smart Connected Assets and Operations Market report is segmented based on below parameters:

Smart Connected Assets and Operations Modules:
• APM software
• Hardware
• Service

Key Company Analysis:

• Cisco Systems, Inc.
• IBM Corporation
• STMicroelectronics
• Texas Instruments, Inc.
• NXP Semiconductors NV
• Intel Corporation
• ARM Ltd.

Application Analysis

• Automotive & Transportation
• Energy & power
• Healthcare
• Smart agriculture
• Factory automation

Research study on Smart Connected Assets and Operations Market is based on the following regions and countries:

North America
• U.S.A
• Canada

Europe
• France
• Germany
• Spain
• UK
• Rest of Europe

Asia Pacific
• China
• Japan
• India
• South East Asia

Latin America
• Brazil
• Mexico

Middle East and Africa

Smart Connected Assets and Operations Market Report delivers a comprehensive analysis:

• Challenges and Opportunities.
• Emerging and Current Market Trends.
• Top Market Player Capacity, Production, Revenue (Value).
• Market Forecast for 2024-30.
• Market growth drivers.
• Market revenue & regional outlook.
• End-user/application Analysis.

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About Profshare:

Profshare Market Research is a full-service market research company that delivers in-depth market research globally. We operate within consumer and business-to-business markets offering both qualitative and quantitative research services. We work for private sector clients, along with public sector and voluntary organizations. Profshare Market Research publishes high-quality, in-depth market research studies, to help clients obtain granular level clarity on current business trends and expected future developments. We are committed to our client’s needs, providing custom solutions best fit for strategy development and implementation to extract tangible results.

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