Global IoT Platforms Market Growth (Status and Outlook) 2025-2031

The global IoT Platforms market size is predicted to grow from US$ 6836 million in 2025 to US$ 25690 million in 2031; it is expected to grow at a CAGR of 24.7% from 2025 to 2031.

An IoT platform means cloud-based and on premise software packages and related services that enable and support sophisticated IoT services. Speak specifically, An IoT platform combines several software functions into one solution to enable companies to develop and deploy Internet of Things solutions faster, better and cheaper.

PTC (ThingWorx), Cisco (Jasper) and Microsoft captured the top three revenue share spots in the IoT Platforms market. Cisco (Jasper) dominated with 7% revenue share, followed by PTC (ThingWorx) with 6% revenue share and Microsoft with 4% revenue share.

LPI (LP Information)' newest research report, the “IoT Platforms Industry Forecast” looks at past sales and reviews total world IoT Platforms sales in 2024, providing a comprehensive analysis by region and market sector of projected IoT Platforms sales for 2025 through 2031. With IoT Platforms sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IoT Platforms industry.

This Insight Report provides a comprehensive analysis of the global IoT Platforms landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on IoT Platforms portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IoT Platforms market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IoT Platforms and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IoT Platforms.

This report presents a comprehensive overview, market shares, and growth opportunities of IoT Platforms market by product type, application, key players and key regions and countries.

Segmentation by Type:
Consumer IoT
Business IoT

Segmentation by Application:
Smart Home & Wearables
Smart Energy
Smart Security
Manufacturing
Transportation & Logistics
Healthcare
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
PTC (ThingWorx)
Cisco (Jasper)
Microsoft (Azure)
Google
IBM
Intel
SAP
Oracle
Amazon Web Services (AWS)
Telit
General Electric
Zebra Technologies
AT&T
Aeris
Exosite
Particle
Ayla Networks
relayr
Bosch Software Innovations
Teezle
Thales (Cinterion)
Salesforce
IRI
ThingWorx
KaaIoT Technologies
WSO2
GE Digital (Predix Platform)
HPE
Zyter (SmartSpaces)
IOTech
UrsaLeo
Verizon (ThingSpace)

Please note: The report will take approximately 2 business days to prepare and deliver.