loT Middleware Market with Impact of Gen AI, by Platform (Device Management, Application Management, Connectivity Management, Data Management, and Security Management), Vertical (Government & Defense, Manufacturing, BFSI) - Global Forecast to 2029

loT Middleware Market with Impact of Gen AI, by Platform (Device Management, Application Management, Connectivity Management, Data Management, and Security Management), Vertical (Government & Defense, Manufacturing, BFSI) - Global Forecast to 2029

The IoT middleware market is estimated to be USD 18.5 billion in 2024 to USD 41.7 billion in 2029 at a CAGR of 17.6% from 2024 to 2029. The loT middleware market is driven by industrial edge computing, such as robots, motors, and other machines connected to main servers containing their data processing capabilities. The benefits of these edge devices include providing feedback to the central server by relaying operating conditions and cycle times. The pace of this pattern is believed to go higher with the emergence of 5G networks since applying fewer limitations on the speed and bandwidth will enhance connectivity and data transfer. This work indicates the promise of the convergence of the 5G and industrial edge computing to play a central part in the Industrial Internet of Things (lloT), which is expected to enhance efficiency and operations’ flexibility.

“During the forecast period, the manufacturing verticle contributed the largest market share in the IoT middleware market.”

Manufacturing organizations have gradually embraced Industry 4. 0, where connected smart devices and automation work hand in hand. In this new industrial revolution, robotics was built to be controlled over the internet and linked to computers proficient in machine learning and artificial intelligence, which, in turn, allowed robots to self-teach and work smartly on restricted commands. Industry 4. 0 involves cyber-physical systems that observe factories’ operations and decide independently. These physical systems are also a part of the IoT environment and work in conjunction with humans in real time. The significance of IoT in the automation of industries, especially factories, and implementing the fourth industrial revolution is vital. This helps businesses and allows them to make better process and operation decisions.

""Asia Pacific will register the highest growth rate during the forecast period.”

The Asia Pacific region is expected to grow fastest in the IoT middleware market during the forecast period. This region already holds more than 40% of the world's population, most of the area's economies are at a relatively fast growth stage, and urbanization is property high. The region is particularly acclaimed for its visionary utilization of new technologies and is expected to exhibit the highest compound annual growth rate in the future. The proactive attempts made by Asia-Pacific organizations to enhance IT support are producing encouraging circumstances for deploying sophisticated technologies. The GSM Association is hopeful that 2025, the region will account for 1/3 of total IoT connections or 11 billion connections. Big players are already taking advantage of it. Litmus Automation, which expanded into Japan recently, is a perfect example; the need for advanced IoT solutions in industrial processes is growing.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%

By Designation: C-level –38%, D-level – 30%, and Managers – 22%

By Region: North America – 38%, Europe – 15%, Asia Pacific – 35%, Middle East & Africa- 7%, and Latin America- 5%.

The major players in the IoT middleware market are Microsoft(US), IBM (US), PTC (US), Cisco (US), AWS (US), SAP (Germany), Google (US), Hitachi (Japan), Oracle (US), HPE (US), Bosch (Germany), Siemens (Germany), GE (US), Schneider Electric (US), Software AG (Germany), Aeris Communication (US), Salesforce (US), Atos (France), ClearBlade(US), Davra Networks (US), Axiros (Germany), Eurotech (Italy), Litmus Automation (US), Ayla Networks (US), SumatoSoft (US), QiO Technologies (UK), Particle Industries (US) and Exosite (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their IoT middleware footprint.

Research Coverage

The market study covers the IoT middleware market size across different segments. It aims to estimate the market size and the growth potential across various segments, including platform type, vertical, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help market leaders and new entrants with information on the closest approximations of the global IoT middleware market's revenue numbers and subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (blockchain enhances IoT middleware to streamline operations and reducing administrative overhead, growing need for centralized monitoring, emergence of 5G & edge computing, and increasing adoption of cloud), restraints (complex integration process of legacy systems, absence of uniform IoT standards and lack of interoperability, and concerns over data security and privacy), opportunities (increasing shift toward outcome and pull economies, and rising adoption of IoT in SMEs) and challenges (lack of skilled workforce, and implementation and security challenges) influencing the growth of the IoT middleware market.

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the IoT middleware market. Market Development: Comprehensive information about lucrative markets – the report analyses various regions' IoT middleware markets.Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the IoT middleware market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Microsoft(US), IBM (US), PTC (US), Cisco (US), AWS (US), SAP (Germany), Google (US), Hitachi (Japan), Oracle (US), HPE (US), Bosch (Germany), Siemens (Germany), GE (US), Schneider Electric (US), Software AG (Germany), Aeris Communication (US), Salesforce (US), Atos (France), ClearBlade(US), Davra Networks (US), Axiros (Germany), Eurotech (Italy), Litmus Automation (US), Ayla Networks (US), SumatoSoft (US), QiO Technologies (UK), Particle Industries (US) and Exosite (US).

Tables List

Table 1 Usd Exchange Rates, 2021–2023

Table 2 Key Primary Interview Participants

Table 3 Research Assumptions

Table 4 Risk Assessment

Table 5 Iot Middleware Market: Ecosystem

Table 6 North America: Regulatory Bodies, Government Agencies,

And Other Organizations

Table 7 Europe: Regulatory Bodies, Government Agencies, And Other Organizations

Table 8 Asia Pacific: List Of Regulatory Bodies, Government Agencies,

And Other Organizations

Table 9 Rest Of The World: Regulatory Bodies, Government Agencies,

And Other Organizations

Table 10 Average Selling Price Of Key Players For Iot Platforms (Usd)

Table 11 Indicative Pricing Analysis Of Iot, By Subscription Type (Usd)

Table 12 Impact Of Each Force On Iot Middleware Market

Table 13 Influence Of Stakeholders On Buying Process For Top Three Verticals

Table 14 Key Buying Criteria For Top Three Verticals

Table 15 Iot Middleware Market: Detailed List Of Conferences And Events, 2024–2025

Table 16 Iot Middleware Market, By Platform Type, 2019–2023 (Usd Million)

Table 17 Iot Middleware Market, By Platform Type, 2024–2029 (Usd Million)

Table 18 Device Management: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 19 Device Management: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 20 Application Management: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 21 Application Management: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 22 Data Management: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 23 Data Management: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 24 Connectivity Management: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 25 Connectivity Management: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 26 Security Management: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 27 Security Management: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 28 Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 29 Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 30 Manufacturing: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 31 Manufacturing: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 32 Government & Defense: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 33 Government & Defense: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 34 Transportation & Logistics: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 35 Transportation & Logistics: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 36 Energy & Utilities: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 37 Energy & Utilities: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 38 Healthcare: Iot Middleware Market, By Region, 2019–2023 (Usd Million)

Table 39 Healthcare: Iot Middleware Market, By Region, 2024–2029 (Usd Million)

Table 40 Retail: Iot Middleware Market, By Region, 2019–2023 (Usd Million)

Table 41 Retail: Iot Middleware Market, By Region, 2024–2029 (Usd Million)

Table 42 Banking, Financial Services, And Insurance: Iot Middleware Market,

By Region, 2019–2023 (Usd Million)

Table 43 Banking, Financial Services, And Insurance: Iot Middleware Market,

By Region, 2024–2029 (Usd Million)

Table 44 Other Verticals: Iot Middleware Market, By Region,

2019–2023 (Usd Million)

Table 45 Other Verticals: Iot Middleware Market, By Region,

2024–2029 (Usd Million)

Table 46 Iot Middleware Market, By Region, 2019–2023 (Usd Million)

Table 47 Iot Middleware Market, By Region, 2024–2029 (Usd Million)

Table 48 North America: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 49 North America: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 50 North America: Iot Middleware Market, By Vertical,

2019–2023 (Usd Million)

Table 51 North America: Iot Middleware Market, By Vertical,

2024–2029 (Usd Million)

Table 52 North America: Iot Middleware Market, By Country,

2019–2023 (Usd Million)

Table 53 North America: Iot Middleware Market, By Country,

2024–2029 (Usd Million)

Table 54 Us: Iot Middleware Market, By Platform Type, 2019–2023 (Usd Million)

Table 55 Us: Iot Middleware Market, By Platform Type, 2024–2029 (Usd Million)

Table 56 Us: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 57 Us: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 58 Europe: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 59 Europe: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 60 Europe: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 61 Europe: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 62 Europe: Iot Middleware Market, By Country, 2019–2023 (Usd Million)

Table 63 Europe: Iot Middleware Market, By Country, 2024–2029 (Usd Million)

Table 64 Uk: Iot Middleware Market, By Platform Type, 2019–2023 (Ukd Million)

Table 65 Uk: Iot Middleware Market, By Platform Type, 2024–2029 (Ukd Million)

Table 66 Uk: Iot Middleware Market, By Vertical, 2019–2023 (Ukd Million)

Table 67 Uk: Iot Middleware Market, By Vertical, 2024–2029 (Ukd Million)

Table 68 Germany: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 69 Germany: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 70 Germany: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 71 Germany: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 72 Italy: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 73 Italy: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 74 Italy: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 75 Italy: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 76 Asia Pacific: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 77 Asia Pacific: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 78 Asia Pacific: Iot Middleware Market, By Vertical,

2019–2023 (Usd Million)

Table 79 Asia Pacific: Iot Middleware Market, By Vertical,

2024–2029 (Usd Million)

Table 80 Asia Pacific: Iot Middleware Market, By Country,

2019–2023 (Usd Million)

Table 81 Asia Pacific: Iot Middleware Market, By Country,

2024–2029 (Usd Million)

Table 82 China: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 83 China: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 84 China: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 85 China: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 86 India: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 87 India: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 88 India: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 89 India: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 90 Middle East & Africa: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 91 Middle East & Africa: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 92 Middle East & Africa: Iot Middleware Market, By Vertical,

2019–2023 (Usd Million)

Table 93 Middle East & Africa: Iot Middleware Market, By Vertical,

2024–2029 (Usd Million)

Table 94 Middle East & Africa: Iot Middleware Market, By Country,

2019–2023 (Usd Million)

Table 95 Middle East & Africa: Iot Middleware Market, By Country,

2024–2029 (Usd Million)

Table 96 Middle East & Africa: Iot Middleware Market, By Gcc Country,

2019–2023 (Usd Million)

Table 97 Middle East & Africa: Iot Middleware Market, By Gcc Country,

2024–2029 (Usd Million)

Table 98 Ksa: Iot Middleware Market, By Platform Type, 2019–2023 (Usd Million)

Table 99 Ksa: Iot Middleware Market, By Platform Type,2024–2029 (Usd Million)

Table 100 Ksa: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 101 Ksa: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 102 Latin America: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 103 Latin America: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 104 Latin America: Iot Middleware Market, By Vertical,

2019–2023 (Usd Million)

Table 105 Latin America: Iot Middleware Market, By Vertical,

2024–2029 (Usd Million)

Table 106 Latin America: Iot Middleware Market, By Country,

2019–2023 (Usd Million)

Table 107 Latin America: Iot Middleware Market, By Country,

2024–2029 (Usd Million)

Table 108 Brazil: Iot Middleware Market, By Platform Type,

2019–2023 (Usd Million)

Table 109 Brazil: Iot Middleware Market, By Platform Type,

2024–2029 (Usd Million)

Table 110 Brazil: Iot Middleware Market, By Vertical, 2019–2023 (Usd Million)

Table 111 Brazil: Iot Middleware Market, By Vertical, 2024–2029 (Usd Million)

Table 112 Iot Middleware Market: Degree Of Competition

Table 113 Iot Middleware Market: Vertical Footprint

Table 114 Iot Middleware Market: Platform Type Footprint

Table 115 Iot Middleware Market: Region Footprint

Table 116 Iot Middleware Market: Detailed List Of Key Startups/Smes

Table 117 Iot Middleware Market: Competitive Benchmarking Of Key Startups/Smes

Table 118 Iot Middleware Market: Product Launches, January 2023–july 2024

Table 119 Iot Middleware Market: Deals, January 2023–july 2024

Table 120 Microsoft: Company Overview

Table 121 Microsoft: Products/Solutions/Services Offered

Table 122 Microsoft: Product Launches

Table 123 Microsoft: Deals

Table 124 Ibm: Company Overview

Table 125 Ibm: Products/Solutions/Services Offered

Table 126 Ibm: Deals

Table 127 Cisco: Company Overview

Table 128 Cisco: Products/Solutions/Services Offered

Table 129 Cisco: Product Launches

Table 130 Cisco: Deals

Table 131 Amazon Web Services: Company Overview

Table 132 Amazon Web Services: Products/Solutions/Services Offered

Table 133 Amazon Web Services: Deals

Table 134 Ptc: Company Overview

Table 135 Ptc: Products/Solutions/Services Offered

Table 136 Ptc: Deals

Table 137 Sap: Company Overview

Table 138 Sap: Products/Solutions/Services Offered

Table 139 Sap: Deals

Table 140 Hitachi: Company Overview

Table 141 Hitachi: Deals

Table 142 Oracle: Company Overview

Table 143 Oracle: Products/Solutions/Services Offered

Table 144 Oracle: Deals

Table 145 Google: Company Overview

Table 146 Google: Products/Solutions/Services Offered

Table 147 Google: Deals

Table 148 Bosch: Company Overview

Table 149 Bosch: Products/Solutions/Services Offered

Table 150 Bosch: Deals

Table 151 Iot Market, By Component, 2015–2020 (Usd Billion)

Table 152 Iot Market, By Component, 2021–2026 (Usd Billion)

Table 153 Iot Market, By Organization Size, 2015–2020 (Usd Billion)

Table 154 Iot Market, By Organization Size, 2021–2026 (Usd Billion)

Table 155 Iot Market, By Focus Area, 2015–2020 (Usd Billion)

Table 156 Iot Market, By Focus Area, 2021–2026 (Usd Billion)

Table 157 Iot Market, By Region, 2015–2020 (Usd Billion)

Table 158 Iot Market, By Region, 2021–2026 (Usd Billion)

Table 159 Iot In Manufacturing Market, By Component, 2016–2020 (Usd Million)

Table 160 Iot In Manufacturing Market, By Component 2021–2026 (Usd Million)

Table 161 Iot In Manufacturing Market, By Solution, 2016–2020 (Usd Million)

Table 162 Iot In Manufacturing Market, By Solution, 2021–2026 (Usd Million)

Table 163 Iot In Manufacturing Market, By Service, 2016–2020 (Usd Million)

Table 164 Iot In Manufacturing Market, By Service, 2021–2026 (Usd Million)

Table 165 Iot In Manufacturing Market, By Deployment Mode,

2016–2020 (Usd Million)

Table 166 Iot In Manufacturing Market, By Deployment Mode,

2021–2026 (Usd Million)

Table 167 Iot In Manufacturing Market, By Organization Size,

2016–2020 (Usd Million)

Table 168 Iot In Manufacturing Market, By Organization Size,

2021–2026 (Usd Million)

Table 169 Iot In Manufacturing Market, By Application, 2016–2020 (Usd Million)

Table 170 Iot In Manufacturing Market, By Application, 2021–2026 (Usd Million)

Table 171 Iot In Manufacturing Market, By Vertical, 2016–2020 (Usd Million)

Table 172 Iot In Manufacturing Market, By Vertical, 2021–2026 (Usd Million)

Table 173 Iot In Manufacturing Market, By Region, 2016–2020 (Usd Million)

Table 174 Iot In Manufacturing Market, By Region, 2021–2026 (Usd Million)

Figures List

Figure 1 Iot Middleware Market: Research Design

Figure 2 Breakdown Of Primary Interviews, By Company Type, Designation,

And Region

Figure 3 Data Triangulation

Figure 4 Top-down Approach

Figure 5 Market Size Estimation Methodology – Approach 1 (Supply Side): Revenue Of Vendors In Iot Middleware Market

Figure 6 Bottom-up Approach

Figure 7 Bottom-up (Supply Side) Analysis: Collective Revenue From

Platforms Of Iot Middleware Market

Figure 8 Iot Middleware Market, 2022–2029

Figure 9 Iot Middleware Market: Regional Snapshot

Figure 10 Rapid Growth Of Connected Devices Across Industries To Drive Iot Middleware Market

Figure 11 Device Management Platform And Us To Account For Large Shares In North American Iot Middleware Market In 2024

Figure 12 Device Management Platform And China To Account For Large Shares In Asia Pacific Iot Middleware Market In 2024

Figure 13 Iot Middleware Market: Drivers, Restraints, Opportunities,

And Challenges

Figure 14 Evolution Of Iot Middleware

Figure 15 Iot Middleware Market: Ecosystem

Figure 16 Iot Middleware Market: Value Chain Analysis

Figure 17 List Of Major Patents For Iot Middleware

Figure 18 Average Selling Price Trend Of Key Players For Iot Platforms (Usd)

Figure 19 Iot Middleware Market: Porter’s Five Forces Model

Figure 20 Trends/Disruptions Impacting Customer Business

Figure 21 Influence Of Stakeholders On Buying Process For Top Three Verticals

Figure 22 Key Buying Criteria For Top Three Verticals

Figure 23 Iot Middleware Market: Investment And Funding Scenario

Figure 24 Use Cases Of Generative Ai In Iot Middleware

Figure 25 Connectivity Management To Register Highest Cagr During

Forecast Period

Figure 26 Healthcare Segment To Register Highest Cagr During Forecast Period

Figure 27 North America: Iot Middleware Market Snapshot

Figure 28 Asia Pacific: Iot Middleware Market Snapshot

Figure 29 Revenue Analysis For Key Companies In Past 3 Years

Figure 30 Share Of Leading Companies In Iot Middleware Market, 2023

Figure 31 Iot Middleware Market: Company Evaluation Matrix (Key Players), 2023

Figure 32 Iot Middleware Market: Company Footprint

Figure 33 Iot Middleware Market: Company Evaluation Matrix

(Startups/Smes), 2023

Figure 34 Brand/Product Comparison

Figure 35 Financial Metrics Of Key Iot Middleware Market Vendors

Figure 36 Company Valuation Of Key Iot Middleware Market Vendors

Figure 37 Microsoft: Company Snapshot

Figure 38 Ibm: Company Snapshot

Figure 39 Cisco: Company Snapshot

Figure 40 Amazon Web Services: Company Snapshot

Figure 41 Ptc: Company Snapshot

Figure 42 Sap: Company Snapshot

Figure 43 Hitachi: Company Snapshot

Figure 44 Oracle: Company Snapshot

Figure 45 Google: Company Snapshot

Figure 46 Bosch: Company Snapshot