Industrial Internet of Things (IIoT) In The Global Industrial Machinery Manufacturing Market

The industrial machinery manufacturing industry comprises establishments primarily involved in manufacturing industrial machinery such as food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), machinery for making paper and paper products, printing and binding machinery and equipment, textile making machinery, and machinery for making plastics and rubber products.

The industrial machinery manufacturing in this report is segmented into sawmill, woodworking, and paper machinery manufacturing, other industrial machinery manufacturing, printing machinery and equipment manufacturing, semiconductor machinery manufacturing and food product machinery manufacturing.

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The global industrial machinery manufacturing market has been growing in the past years with a CAGR of almost 0.5%.

TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.

The report also shows the global industrial machinery manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.

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Industrial machinery manufacturers are using industrial internet of things (IIoT) for faster production and delivery of industrial machinery to customers. IIoT is a technology in which sensors, computers, networks interact with their environment to generate data and improve industrial processes. IIoT streamlines the flow of information and enables real-time decisions. This leads to enhanced production efficiency, minimal machine breakdowns and lower manufacturing costs. For instance, Stanley Black & Decker implemented IIoT in a plant in Mexico to monitor the status of production lines in real time via mobile devices, this technology improved production equipment efficiency by 24%, labor utilization by 10%, and throughput by 10%.

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Companies included in the report are Tetra Laval International S.A., Applied Materials Inc., Tokyo Electron Ltd., ASML Holding N.V., Lam Research, Heidelberger Druckmaschinen AG, Krones Inc., Dainippon Screen Manufacturing Co., Ltd., KLA-Tencor Corp, and Xerox Corporation.

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