Manufacturing Sector ICT Market Size and Forecast (by Country, IT Solution Area and Vertical) to 2027
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Manufacturing Sector ICT Market Overview
The global manufacturing sector ICT market was valued at US$ 414.51 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 9.55% to reach US$ 654.12 billion by 2027. The cumulative revenue generation for ICT in the manufacturing sector is estimated at US$ 3,116.93 billion for 2022-2027.
Manufacturing Sector ICT Market Outlook, 2022-2027 (US$ Billion)
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The ‘Manufacturing Sector ICT Market’ opportunity forecast report provides the total addressable market for ICT solutions in the manufacturing sector from 2019 to 2027.
Market Size (2022) | US$ 414.51 billion |
Market Size (2027) | US$ 654.12 billion |
CAGR (2022-2027) | 9.55% |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key IT Solutions | • Application Development and Management (3 Products/Services)
• Artificial Intelligence (4 Products/Services) • Business Process Applications (9 Products/Services) • Business Process Outsourcing (6 Products/Services) • Client Computing (10 Products/Services) • Cloud Computing (7 Products/Services) • Communication and Collaboration (10 Products/Services) • Consulting & Integration Services (3 Products/Services) • Data and Analytics (6 Products/Services) • Data Center and Hosting (2 Products/Services) • Edge Computing (11 Products/Services) • Internet of Things (IoT) (3 Products/Services) • IT Management (11 Products/Services) • Mobility (5 Products/Services) • Networking (18 Products/Services) • Security (17 Products/Services) • Servers (4 Products/Services) • Storage (7 Products/Services) |
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Manufacturing Sector ICT Market Segmentation by Region
The ICT market in the manufacturing sector is geographically segmented into North America, South and Central America, Western Europe, Central and Eastern Europe, Middle East and Africa, and the Asia Pacific.
The Asia Pacific region dominated the manufacturing ICT market with a revenue share of 41.1% in 2022. Undoubtedly, China was the major contributor to the manufacturing sector ICT market growth in this region. On the other hand, North America and Western Europe were the second and third-largest revenue contributors with shares of 23.9% and 19.7%, respectively.
Manufacturing Sector ICT Market Share by Region, 2022 (%)
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Manufacturing Sector ICT Market Segmentation by IT Solution
The Internet of Things (IoT), cloud computing, networking, client computing, consulting and integration services, business process outsourcing, communications and collaboration, business process applications, application development and management, and IT management among others are a few of the key end-use industries of IT Solutions in their operations.
In terms of IT solutions end-use segments, the Internet of Things (IoT) was the leading segment with a market share of 14.2%, followed by cloud computing. However, artificial intelligence is expected to be the fastest-growing segment with an estimated CAGR of 26.80% during the forecast period.
Manufacturing Sector ICT Market Share by IT Solution, 2022 (%)
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Scope
- This product provides revenue opportunity forecasts for ICT products and services in the manufacturing sector from 2019 to 2027.
- The revenue opportunity forecasts for the market cover 18 IT solutions, 133 products/services, 6 regions, and 52 geographies. The details of the IT solutions and the corresponding products/services have been provided.
Key Highlights
- The global ICT in the manufacturing sector market is expected to grow at a CAGR of 55% during the forecast period.
- The sector’s top three product/service categories – SaaS, IoT Software, Systems Design and Integration, and IoT Services.
- Asia Pacific is expected to be the highest regional contributor with a market share of 1%, in the global ICT market in the manufacturing sector, during the forecast period. North America and Western Europe will follow with market shares of 23.9% and 19.7%, respectively. The Middle East Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 15.2%.
- SaaS is expected to be the leading product/service segment of the ICT in the manufacturing sector market during the forecast period.
Reasons to Buy
- Assess the historical data (past 4 years), current state, and expected growth (next 5 years) of ICT in the manufacturing sector.
- Identify the fastest growing products/services within ICT in the manufacturing sector
- Determine the most lucrative IT Solution for ICT in the manufacturing sector by reviewing their current contribution to the overall ICT in the manufacturing sector market and their expected input toward the market growth over the next 5 years.
- Identify the geographies/countries that would support the ICT market in the manufacturing sector over the next 5 years.
- Build proactive and profitable growth strategies thorough our forward-looking analysis of manufacturing sector enterprise ICT investment trends and key opportunities in a concise format to help executives.
Frequently asked questions
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What was the ICT in the manufacturing sector market size in 2022?
The global manufacturing sector ICT market size was estimated at US$ 414.51 billion in 2022 and is expected to reach US$ 443.32 billion in 2023.
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What will the ICT in the manufacturing sector market growth rate be by 2027?
The manufacturing sector ICT market is expected to grow at a compound annual growth rate of 9.55% over the forecast period to reach US$ 654.12 billion by 2027.
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Which IT Solution led the ICT in the manufacturing sector market in 2022?
Internet of Things (IoT) was the largest vertical in the manufacturing sector ICT market with 14.2% market share in 2022.
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Which region accounted for the largest manufacturing sector ICT market share in 2022?
The Asia Pacific region dominated the manufacturing sector ICT market with 41.1% market share in 2022.
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