Global Internet of Things (IoT) platform market Size study & Forecast, by Deployment (On-premise, Cloud/Saas) by Type of Platform (Application Enablement, Device Management, Advanced Analytics, Cloud Storage/IaaS, Connectivity), by End-user Industry (Indu

Global Internet of Things (IoT) platform market Size study & Forecast, by Deployment (On-premise, Cloud/Saas) by Type of Platform (Application Enablement, Device Management, Advanced Analytics, Cloud Storage/IaaS, Connectivity), by End-user Industry (Industrial, Connected Building, Smart Home, Mobility, Medical, Other End-user Applications) and Regional Analysis, 2022-2029

Global Internet of Things (IoT) platform market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. An IoT platform controls device connectivity and enables the development of new mobile software apps by developers. It makes business transformation feasible and easier to collect data from devices. It offers a framework for gathering information from IoT devices, processing and analyzing that information, drawing conclusions, and taking actions in response to those results. IoT platforms often provide choices for connectivity, device administration, data visualization, and security. These platforms play a significant role in assisting various designers of IoT devices to connect their projects to the Internet. The market growth is driven by the factors such as growing automation, increasing IoT spending, coupled with the rising inclination toward cloud-based data management platforms.

The surge in penetration of IoT-connected devices is playing a vital role in market development across the globe. IoT platform offers improved connectivity with a range of IoT-compatible hardware devices including mobiles, laptops, wearable fitness devices, industrial control systems, automotive telematics units, etc. According to Statista, the number of Internet of Things (IoT) connected devices is expected to account for 8.6 billion in the year 2019 and is projected to rise to 19.1 billion in 2025 and 29.4 billion by the end of 2030. Therefore, the growing adoption of IoT-connected devices is bolstering the market growth during the estimated period. Moreover, the rising adoption of emerging technologies, as well as the growing demand for data analytics are presenting various lucrative opportunities over the forecasting years. However, the lack of infrastructure to scale platforms and data security and privacy concerns are hindering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Internet of Things (IoT) platform market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing demand for IoT-enabled devices, increasing R&D investments in technology developments, and the rising presence of leading market players. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising number of smart city projects, increasing trend of automation, geographic expansion of key players, and increasing number of IoT-connected devices in the market space.

Major market players included in this report are:
IBM Corporation
Microsoft Corporation
PTC Inc.
SAP SE
Siemens AG
C3.ai
Oracle Corporation
GE Digital (General Electric Company)
Hitachi Ltd
Software AG

Recent Developments in the Market:
In May 2022, Bharat Sanchar Nigam Limited (BSNL), India, announced that the company has entered into a strategic partnership with British satellite communications provider Inmarsat to present the company’s IoT services in India. As per the new alterations, Inmarsat's satellite-based connection is offered for IoT and aggregator devices along with the local ELERA L-band services that are already in place.
In May 2022, Nordic Capital declared the acquisition of a majority stake in ProGlove, a German Industrial Internet of Things (""IoT"") business. ProGlove is a leading provider of cutting-edge technology for a better workforce. Due to Nordic Capital's close cooperation with ProGlove's management and founders, the business can accelerate its long-term growth goals, grow its clientele, and make investments in product development.

Global Internet of Things (IoT) platform market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Deployment, Type of Platform, End-user Industry, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Deployment:
On-premise
Cloud/SaaS
By Type of Platform:
Application Enablement
Device Management
Advanced Analytics
Cloud Storage/IaaS
Connectivity
By End-user Industry:
Industrial
Connected Building
Smart Home
Mobility
Medical
Other End-user Applications
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

IBM Corporation
Microsoft Corporation
PTC Inc.
SAP SE
Siemens AG
C3.ai
Oracle Corporation
GE Digital (General Electric Company)
Hitachi Ltd
Software AG

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