Global IOT Connectivity Management Platform (CMP) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global IOT Connectivity Management Platform (CMP) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

The IoT Connectivity Management Platform (CMP) is a solution that enables users to monitor, analyze, configure, and modify cellular Internet of Things (IoT) and Machine-to-Machine (M2M) deployments. CMP is a key link in connecting devices to the network, significantly simplifying the automation of IoT operations. CMP enables organizations to deliver high-performance, successful IoT projects while reducing the overhead of managing IoT connections at scale.

Market Overview:

The latest research study on the global IOT Connectivity Management Platform (CMP) market finds that the global IOT Connectivity Management Platform (CMP) market reached a value of USD 8779.44 million in 2023. It’s expected that the market will achieve USD 22983.79 million by 2029, exhibiting a CAGR of 17.4% during the forecast period.

Inflation has not only increased the cost of all industries around the world but also exacerbated long-standing problems such as port congestion and imported containers, disrupting the long-term allocation of supply chain resources, inventory, and cash flow in the manufacturing industry. For the government, the Fed is raising interest rates to curb inflation, which makes borrowing more expensive. For downstream industries, rising prices lead to a reduction in consumers' disposable income, which leads to a contraction in demand for goods and services. Food, rent or mortgage payments, and gasoline prices have hit consumers hard, reducing the share of their wallets devoted to discretionary items. This requires merchants to incorporate leading market indicators, real-time consumption trends, and other external data into demand forecasting to better plan product mix and volume. This drives enterprises' manufacturing, transportation, inventory management, and raw material procurement management.

For IoT Connectivity Management Platform (CMP) suppliers, inflation is driving up the direct costs of raw materials, labor, energy, and transportation, putting profits at risk. The cost of labor and benefits, financing, utilities, and even cloud services has increased. Software vendors are more likely to view support as a profit center, optimizing support at the expense of the end user and leading to a potentially degraded experience at a higher cost. Therefore, manufacturers may increase sales prices to transfer costs, which is not conducive to the expansion of the sales market in the long run. Manufacturers need to balance cost versus alternate use of resources, and sales and operations processes require a more focused, detailed, and flexible planning approach, supported by all stakeholders in the supply chain, including sales and marketing as well as warehousing and logistics teams. High inflation rates may cause financial distress or behavioral changes in some businesses. A comprehensive risk assessment of key suppliers and their sub-suppliers will help to quickly understand the impact of inflation and develop a response plan.

Advantages of IOT Connectivity Management Platform (CMP)

Smart devices use various packet sizes and various technologies to achieve connectivity. They may also change networks and carriers frequently. IoT devices are a standard part of the daily operations of businesses in any industry. Most of these devices are critical to maintaining business operations. Managing IoT devices can be complex, especially for enterprises with large-scale operations and many connected devices. Multi-technology connectivity may be required, along with other solutions using different carrier options to support device coverage in new locations as the device travels. With IoT solutions likely to remain unattended for years, businesses need a solution to access IoT data, control and monitor available networks, troubleshoot connected services, and regulate data consumption. The more IoT devices an enterprise has, the regions they are deployed in, and the data the devices consume, the more important CMP becomes. The main functions of CMP include connectivity, contracts, monitoring, and billing. Key benefits of an IoT connectivity management platform include maintaining optimal connectivity for all devices; a single platform; controlling costs with data consumption alerts and forecasts; enhanced control and predictability; adapting to changes in legislation, business, and service requirements; Secure environment for data transfer between backend systems; improved visibility; automated processes and reporting. Therefore, as the advantages of CMP are known to more people, the market demand for CMP is gradually increasing.

Increase in the scope of IoT devices and applications

The 2023 IoT Analytics report shows that the number of global IoT connections will grow by 18% in 2022, reaching 14.3 billion active IoT endpoints. IoT Analytics expects the number of connected IoT devices worldwide to grow another 16% to 16.7 billion active endpoints by 2023. It is estimated that by 2027, the number of IoT connections may exceed 29 billion. 83% of organizations have increased efficiency by introducing IoT technologies. Global IoT connectivity is dominated by three key technologies: Wi-Fi, Bluetooth, and Cellular IoT. Wi-Fi technology is leading IoT connectivity in areas such as smart homes, buildings, and healthcare. The latest Wi-Fi 6 and Wi-Fi 6E technologies promise faster, more reliable wireless connections, making communication between IoT devices more efficient. Bluetooth is the first choice for battery-operated IoT devices such as smart home sensors and asset tracking devices. Low-power, battery-free ambient IoT is expected to take advantage of Bluetooth® LE technology in the pharmaceutical, healthcare, and manufacturing sectors. As older technologies like 2G and 3G are phased out and IoT solutions combine artificial intelligence, machine learning, and real-time data processing, the number of cellular IoT devices is bound to grow significantly. Major industry verticals with more than 100 million connected IoT devices today include electricity, gas, steam and air conditioning, water and waste management, retail and wholesale, transportation and warehousing, and government. The most important use cases in the consumer space are consumer Internet and media devices. Other use cases expected for future IoT devices include autonomous vehicles, IT infrastructure, asset tracking and monitoring, and smart grids. Consumer electronics and transportation are two industries leading the way. Additionally, LEO satellite connectivity for IoT is gaining popularity as it offers wide coverage, minimal latency, and strong reliability. The technology shows great potential in the agriculture, marine, and logistics industries. Therefore, as the number and scope of IoT devices increase, enterprises need CMP to provide protection for any mobile and cellular IoT device, reduce costs, and improve operational efficiency at scale, while continuously monitoring, analyzing, and managing connections.

Region Overview:

In 2022, the share of the IOT Connectivity Management Platform (CMP) market in Asia Pacific stood at 35.59%.

Company Overview:

The major players operating in the IOT Connectivity Management Platform (CMP) market include Vodafone, Onelink, Aeris, Cisco Systems, Nokia, etc. Among which, Vodafone ranked top in terms of sales and revenue in 2023.

Vodafone Business is a leading technology communications company helping organisations succeed in a digital world and keeping society connected. With expertise in connectivity, our global scale and leading IoT platform, Vodafone can deliver the results clients need to progress and thrive. Vodafone provide mobile, fixed and unified communications. As well as IoT, cloud and security services to support the needs of all business sizes.

Segmentation Overview:

By type, Automotive segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Non-cellular segment occupied the biggest share from 2018 to 2022.

Key Companies in the global IOT Connectivity Management Platform (CMP) market covered in Chapter 3:

Truphone
Nokia
Arm
Huawei
Swisscom
Comarch
Links Field
Onelink
EMnify GmbH
KORE
HPE
Vodafone
Cisco Systems
Aeris
ZTE
MAVOCO AG

In Chapter 4 and Chapter 14.2, on the basis of types, the IOT Connectivity Management Platform (CMP) market from 2019 to 2030 is primarily split into:

Cellular
Non-cellular

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the IOT Connectivity Management Platform (CMP) market from 2019 to 2030 covers:

Automotive
Consumer Electronics
Retail
Energy & Utilities
Finance & Banking
Healthcare
Manufacturing
Transport & Logistics
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)