Vietnam IoT In Manufacturing Market By Component (Solutions, Services & Platforms), By Application Area (Asset Tracking & Management, Predictive Maintenance, & Others), By Vertical (Energy & Utilities, Oil & Gas, Electronics & Electricals, Automotive, & Others), Competition, Forecast & Opportunities, 2024
New York, March 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vietnam IoT In Manufacturing Market By Component, By Application Area, By Vertical, Competition, Forecast & Opportunities, 2024" - https://www.reportlinker.com/p05810984/?utm_source=GNW
Vietnam 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 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 Vietnam IoT in manufacturing market during forecast period.
Vietnam 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 Vietnam IoT in manufacturing market recorded high sale volume in 2018 and the trend is likely to continue during forecast period as well. List of major players operating in Vietnam IoT in manufacturing market include FPT Corporation, Viettel-CHT Limited (Viettel IDC), CMC Corporation, Vietnam Posts and Telecommunications Group, KDDI Vietnam Corporation, Dai Viet Controls & Instrumentation Company Ltd, IBM Vietnam Co Ltd., SAP Asia (Vietnam) Co. Ltd, Fujitsu Vietnam Ltd., Hitachi Asia (Vietnam) Co., Ltd., Amazon Web Services Vietnam Company Limited, Robert Bosch (Vietnam) Co. Ltd., Cisco Systems Vietnam Ltd, Oracle Vietnam Pte Ltd. etc. 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
Objective of the Study:
• To analyze and forecast the market size of Vietnam IoT in manufacturing market.
• To classify and forecast Vietnam IoT in manufacturing market based on component, application area, vertical and regional distribution.
• To identify drivers and challenges for Vietnam IoT in manufacturing market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam IoT in manufacturing market.
• To identify and analyze the profile of leading players involved in Vietnam IoT in manufacturing market.
Some of the leading players in Vietnam IoT In Manufacturing market are: FPT Corporation, Viettel-CHT Limited (Viettel IDC), CMC Corporation, Vietnam Posts and Telecommunications Group, KDDI Vietnam Corporation, Dai Viet Controls & Instrumentation Company Ltd, IBM Vietnam Co Ltd., SAP Asia (Vietnam) Co. Ltd, Fujitsu Vietnam Ltd., Hitachi Asia (Vietnam) Co., Ltd., Amazon Web Services Vietnam Company Limited, Robert Bosch (Vietnam) Co. Ltd., Cisco Systems Vietnam Ltd, Oracle Vietnam Pte Ltd., etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major service providers across the country.
The analyst calculated the market size of Vietnam IoT in manufacturing market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• IoT solution, service & platform providers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to IoT market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them to strategize investments and capitalize on market opportunities.
In this report, Vietnam IoT in manufacturing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Component:
• Market, By Application Area:
o Asset Tracking & Management
o Predictive Maintenance
o Logistics & Supply Chain Management
o Business Process Optimization
o Real-Time Workforce Tracking & Management
• Market, By Vertical:
o Energy & Utilities, Oil & Gas
o Electronics and Electricals
o Healthcare, Pharma & Medical Devices
o Food & Beverages
o Chemicals & Petrochemicals
o Metal Processing
• Market, By Region:
o Northern Vietnam
o Southern Vietnam
o Central Vietnam
Company Profiles: Detailed analysis of the major companies present in Vietnam IoT in manufacturing market.
With the given market data, we offers customizations according to the company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05810984/?utm_source=GNW
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