(MENAFN- Techsci Research) Development of the networking technologies and rapid industrialization is expected to drive the demand for Turkey IoT in Manufacturing market in the forecast period.
According to TechSci Research report, “Turkey IoT in Manufacturing Market By Component (Solutions, Services and Platforms) By Application (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management, Emergency & Incident Management, Business Communication) By End-Use Industry (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defense, Chemicals & Materials, Consumer Electronics, Healthcare, Others), By Region, Company Forecast & Opportunities, 2026”, The Turkey IoT in Manufacturing market is expected to witness significant growth in the forecast period. The rise in the adoption of advanced technologies by the market players and the easy availability of sensors and connected devices is boosting the adoption of IoT in manufacturing market growth. The growing demand for internet of things technology in the manufacturing process for real-time monitoring and analysis of the manufacturing process and take appropriate steps based on the generated insights is expected to fuel the market growth. Industries are adopting the internet of things technology in their manufacturing units to ensure the safety of the workforce by constant monitoring and to lower the operating expenses of the organization. The increasing number of connected gadgets used by the industries and the growing demand for advanced technologies such as artificial intelligence, machine learning, and others to be used in applications like remote sensing, asset management, predictive maintenance, and advanced analytics thereby paving the way for the IoT in manufacturing market growth.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities in Turkey imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Manufacturing units were temporarily suspended to slow down the transmission of the coronavirus. The import and export activities were restricted and the disruption in the supply chain generated the need for the adoption of advanced technologies to improvise and streamline the production process to fulfill the growing demand of consumers.
However, a rise in the number of cyber-attacks and increasing privacy and security concerns may restrain the IoT in Manufacturing market growth in the forecast period.
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Turkey IoT in Manufacturing market is segmented into component, application, end-use industry, regional distribution, and company. Based on the component, the market can be divided into solutions, services, and platforms. The solutions segment is expected to witness growth in the forecast period, 2022-2026. Companies are deploying IoT solutions to improve the production process and surge the efficiency of the systems in the manufacturing units. IoT in manufacturing provides multiple solutions including lower operational and maintenance costs, automate the production process which ensures higher efficiency from the manufacturing equipment. By the adoption of the IoT in manufacturing solutions, enterprises can easily manage the end-to-end life cycle of their assets, including machinery, facilities, machinery, amongst others.
Turkcell, Trio Mobil, Cisco, Cognizant, IBM, Accenture, SAP, Google, Nokia, Ericsson, Honeywell, Fujitsu, Microsoft, Oracle, Huawei are the leading players operating in Turkey IoT in Manufacturing market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several IoT in Manufacturing service providers are coming up with their technologically advanced offerings.
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“The rise in the initiatives and efforts made by the leading authorities to smoothen the process of the adoption and development of Industry 4.0 in Turkey is expected to create lucrative opportunities for market growth. The increase in the digitization process across the major industry verticals and the huge investments made by the leading authorities and the market players for the research and development activities to upgrade the existing infrastructure is expected to influence the growth of the IoT in manufacturing market growth. The expected roll-out of 5G technology and the growing development of the telecommunication industry is expected to propel the growth of IoT in manufacturing market through 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
According to TechSci Research “Turkey IoT in Manufacturing Market By Component (Solutions, Services and Platforms) By Application (Predictive Maintenance, Business Process Optimization, Asset Tracking & Management, Logistics & Supply Chain Management, Real-Time Workforce Tracking & Management, Automation Control & Management, Emergency & Incident Management, Business Communication) By End-Use Industry (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defense, Chemicals & Materials, Consumer Electronics, Healthcare, Others), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Turkey IoT in Manufacturing market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Turkey IoT in Manufacturing market.
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