The global IoT in manufacturing market size is projected to reach $1.0388 billion by 2026, from $567.2 million in 2020. North America is expected to hold the largest IoT in. manufacturing market share during the forecast period. The rise in demand for real-time asset tracking makes it easier for businesses to track changes in workshops in real time, thereby minimizing manufacturing defects and increasing operational performance. The introduction of smart sensors into industrial machinery has allowed manufacturers to reduce operating costs by 50%.
Source: https://www.helpnetsecurity.com/2021/01/28/iot-in-manufacturing-market-size/