The Vietnamese IoT In Manufacturing market stood at $1 billion in 2018 and is projected to grow at a CAGR of over 21% to cross $3 billion by 2024 on account of rising demand for industrial internet of things (IIoT), increasing adoption of smart sensors and beacons, growing adoption of IoT in supply chain, favorable government initiatives and rise in the demand for analytics.
Moreover, increasing penetration of IoT in various applications like energy & utilities, oil & gas, electronics and electricals etc., is further pushing its demand in the country. Additionally, surge in cloud platform adoption, advent of advanced data analytics and development of wireless networking technologies is likely to propel the Vietnamese IoT in manufacturing market during forecast period.
The Vietnamese IoT in manufacturing market can be broadly segmented into component, application area, vertical and region. In terms of application area, the market can be categorized into Asset Tracking & Management, Predictive Maintenance, Business Process Optimization, Logistics & Supply Chain Management and Real-Time Workforce Tracking & Management, Automation Control & Management and Emergency & Incident Management & Business Communication. Among all, Business Process Optimization is expected to grow at the highest CAGR as it improves product utilization and enable value-added services in manufacturing sector.
Based on components, the market can be segmented into solutions, services and platforms. Solutions hold the highest market share and the segment is expected to maintain its dominance during the forecast period, on account of increasing equipment failure issues in the manufacturing sector. Moreover, companies are investing heavily and adopting IoT solutions for increasing operational efficiency and control.
The market of IoT in manufacturing in the country is gaining traction and is expanding to various regions such as Northern Vietnam, Southern Vietnam and Central Vietnam. Southern Vietnam is expected to witness growth during forecast period owing to rising penetration of the technology in this region.
Major companies operating in the Vietnamese IoT in manufacturing market recorded high sale volume in 2018 and the trend is likely to continue during forecast period as well. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
For instance, in May 2019, Samsung SDS announced an investment partnership agreement with CMC Corporation for smart factory and cyber security sectors in Vietnam. Under the agreement, Samsung SDS will utilize CMC's strong sales channel to target market for their latest technologies, such as artificial intelligence, big data analytics, Internet of Things (IoT), etc. The partnership will help CMC to strengthen its position and expand its business in Vietnam.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customers 4.1. By IoT Adoption Readiness 4.2. By Vendor Satisfaction 4.3. By Reasons Why Manufacturing Industries are Adopting IoT 4.4. By Key IoT Related Challenges Faced 4.5. By Overall Satisfaction 4.6. By Benefits of IoT in Manufacturing
5. Vietnam IoT in Manufacturing Market Landscape
6. Vietnam IoT in Manufacturing Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Component (Solutions, Services and Platforms) 188.8.131.52. By Solutions (Network Management, Data Management, Application Management, Device Management, and Smart Surveillance) 184.108.40.206.1. Network Management (Network Security, Network Performance Monitoring and Management, Network Configuration Management, and Network Bandwidth Management) 220.127.116.11.2. Data Management (Data Security, Data Integration, Data Analytics and Visualization, Data Migration, Metadata Management, Data Orchestration, and Data Governance) 18.104.22.168.3. Application Management 22.214.171.124.4. Device Management (Monitoring and Troubleshooting, Device Configuration Management and Device Provisioning & Authentication) 126.96.36.199.5. Smart Surveillance (Central Monitoring System, and Video Analytics & Events) 188.8.131.52. By Services (Professional Services, Managed Services, IoT Infrastructure Services, System Designing and Integration Services, Support and Maintenance Services and Education & Training Services) 184.108.40.206.1. Professional Services (IoT Consulting Services, Technology Consulting Services, Business Consulting Services and Operational Consulting Services) 220.127.116.11.2. Managed Services (Infrastructure Management Services, Network Management Services, Device Management Services, Security Management Services and Data Management Services) 18.104.22.168.3. IoT Infrastructure Services (Cloud Services, Network Services and Deployment Services) 22.214.171.124.4. System Designing and Integration Services (Platform Development and Integration Services and Mobile and Web Application Development Services) 126.96.36.199. By Platforms (Connectivity Management Platform, Application Management Platform and Device Management Platform) 6.2.2. By Application Area (Asset Tracking & Management, Predictive Maintenance, Business Process Optimization, Logistics & Supply Chain Management and Real-Time Workforce Tracking & Management, Automation Control & Management and Emergency & Incident Management & Business Communication) 6.2.3. By Vertical (Energy & Utilities, Oil & Gas, Electronics and Electricals, Automotive, Healthcare, Pharma & Medical Devices, Food & Beverages, Chemicals & Petrochemicals, Metal Processing, Cement, Semiconductor and Others) 188.8.131.52. By Vertical, By Electronics and Electricals (Smartphones, TVs, Other Electronics and Electricals Appliances) 6.2.4. By Company 6.2.5. By Region 6.2.6. Marketing Mapping 184.108.40.206. By Component 220.127.116.11. By Application Area 18.104.22.168. By Vertical 22.214.171.124. By Region
7. Vietnam IoT in Manufacturing Solutions Market Outlook
8. Vietnam IoT in Manufacturing Services Market Outlook
9. Vietnam IoT in Manufacturing Platforms Market Outlook