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

Global IoT Connectivity Management Platform 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 market finds that the global IoT Connectivity Management Platform market reached a value of USD 4987.33 million in 2023. It’s expected that the market will achieve USD 23161.65 million by 2029, exhibiting a CAGR of 29.17% during the forecast period.

Drivers and Opportunities

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.

Limits and Challenges

Data security and privacy issues
IoT has brought about a new era of connectivity and convenience, but it has also brought with it many security concerns. About 98% of IoT device traffic is not encrypted, exposing personal and confidential data on the network and providing attackers with an opportunity to intercept unencrypted network traffic. As customer data continues to grow, so does the number of security and privacy concerns for CMPs, and they are more vulnerable to hackers. Security issues such as account hijacking, insider threats, malware injection, insecure application programming interfaces, sharing vulnerabilities, and data loss are more prevalent in cloud-based CMPs. Due to the sheer number of open-source programs that make up cloud infrastructure, new bugs are likely to be introduced over time. Malicious hackers can easily gain access to cloud-based data storage systems due to the open architecture and shared files on which cloud-based technologies are based. Source code outages have a greater impact on public cloud infrastructure because it is multi-tenant and can affect various applications in the cloud environment. Additionally, many companies do not have formal processes for managing digital assets. A lack of process can lead to data loss, improper identification of data, or compromise of sensitive data. CMP vendors are currently adopting practices such as encrypting customer data and implementing multi-factor authentication systems such as biometrics to authorize users. For example, SPS Secure uses an anomaly detection system to alert users of any anomalies detected in the network. Hence, data privacy and security concerns may hamper the growth of the CMP industry.

Region Overview:

In 2022, the share of the IoT Connectivity Management Platform market in North America stood at 32.36%.

Company Overview:

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.

Onelink is a wholly-owned subsidiary of China Mobile Communications Group Co., Ltd., and is the main company responsible for China Mobile in the field of Internet of Things. The company is positioned as the forger of the core capabilities of the Internet of Things, the leader of the professional Internet of Things market, the supporter of the Internet of Things business across the network, and the demonstrator of the reform of technology-based enterprises. Onelink focuses on IoT business capacity building and market expansion, and focuses on building IoT core technologies and products around the basic general capabilities of IoT, Video Internet of Things (VIoT), Intelligent Internet of Things (AIoT), and Industrial Internet of Things (IIoT) to support the entire network IoT business development.

Vodafone is one of the major players operating in the IoT Connectivity Management Platform market, holding a share of 13.56% in 2023.

Segmentation Overview:

By type, Non-cellular segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global IoT Connectivity Management Platform market covered in Chapter 3:

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

In Chapter 4 and Chapter 14.2, on the basis of types, the IoT Connectivity Management Platform 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 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)