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
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
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:
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
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Internet of Things (IoT) platform market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Internet of Things (IoT) platform market, by Deployment, 2019-2029 (USD Billion)
- 1.2.3. Internet of Things (IoT) platform market, by Type of Platform, 2019-2029 (USD Billion)
- 1.2.4. Internet of Things (IoT) platform market, by End-user Industry, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Internet of Things (IoT) platform market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Internet of Things (IoT) platform market Dynamics
- 3.1. Internet of Things (IoT) platform market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising inclination toward cloud-based data management platforms
- 3.1.1.2. Surge in penetration of IoT-connected devices
- 3.1.2. Market Challenges
- 3.1.2.1. Lack of infrastructure to scale platforms
- 3.1.2.2. Data security and privacy concerns
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising adoption of emerging technologies
- 3.1.3.2. Growing demand for data analytics
Chapter 4. Global Internet of Things (IoT) platform market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Internet of Things (IoT) platform market, by Deployment
- 6.1. Market Snapshot
- 6.2. Global Internet of Things (IoT) platform market by Deployment, Performance - Potential Analysis
- 6.3. Global Internet of Things (IoT) platform market Estimates & Forecasts by Deployment 2019-2029 (USD Billion)
- 6.4. Internet of Things (IoT) platform market, Sub Segment Analysis
- 6.4.1. On-premise
- 6.4.2. Cloud/SaaS
Chapter 7. Global Internet of Things (IoT) platform market, by Type of Platform
- 7.1. Market Snapshot
- 7.2. Global Internet of Things (IoT) platform market by Type of Platform, Performance - Potential Analysis
- 7.3. Global Internet of Things (IoT) platform market Estimates & Forecasts by Type of Platform 2019-2029 (USD Billion)
- 7.4. Internet of Things (IoT) platform market, Sub Segment Analysis
- 7.4.1. Application Enablement
- 7.4.2. Device Management
- 7.4.3. Advanced Analytics
- 7.4.4. Cloud Storage/IaaS
- 7.4.5. Connectivity
Chapter 8. Global Internet of Things (IoT) platform market, by End-user Industry
- 8.1. Market Snapshot
- 8.2. Global Internet of Things (IoT) platform market by End-user Industry, Performance - Potential Analysis
- 8.3. Global Internet of Things (IoT) platform market Estimates & Forecasts by End-user Industry 2019-2029 (USD Billion)
- 8.4. Internet of Things (IoT) platform market, Sub Segment Analysis
- 8.4.1. Industrial
- 8.4.2. Connected Building
- 8.4.3. Smart Home
- 8.4.4. Mobility
- 8.4.5. Medical
- 8.4.6. Other End-user Applications
Chapter 9. Global Internet of Things (IoT) platform market, Regional Analysis
- 9.1. Internet of Things (IoT) platform market, Regional Market Snapshot
- 9.2. North America Internet of Things (IoT) platform market
- 9.2.1. U.S. Internet of Things (IoT) platform market
- 9.2.1.1. Deployment breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Type of Platform breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. End-user Industry breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Internet of Things (IoT) platform market
- 9.3. Europe Internet of Things (IoT) platform market Snapshot
- 9.3.1. U.K. Internet of Things (IoT) platform market
- 9.3.2. Germany Internet of Things (IoT) platform market
- 9.3.3. France Internet of Things (IoT) platform market
- 9.3.4. Spain Internet of Things (IoT) platform market
- 9.3.5. Italy Internet of Things (IoT) platform market
- 9.3.6. Rest of Europe Internet of Things (IoT) platform market
- 9.4. Asia-Pacific Internet of Things (IoT) platform market Snapshot
- 9.4.1. China Internet of Things (IoT) platform market
- 9.4.2. India Internet of Things (IoT) platform market
- 9.4.3. Japan Internet of Things (IoT) platform market
- 9.4.4. Australia Internet of Things (IoT) platform market
- 9.4.5. South Korea Internet of Things (IoT) platform market
- 9.4.6. Rest of Asia Pacific Internet of Things (IoT) platform market
- 9.5. Latin America Internet of Things (IoT) platform market Snapshot
- 9.5.1. Brazil Internet of Things (IoT) platform market
- 9.5.2. Mexico Internet of Things (IoT) platform market
- 9.5.3. Rest of Latin America Internet of Things (IoT) platform market
- 9.6. Rest of The World Internet of Things (IoT) platform market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. IBM Corporation
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. Microsoft Corporation
- 10.2.3. PTC Inc.
- 10.2.4. SAP SE
- 10.2.5. Siemens AG
- 10.2.6. C3.ai
- 10.2.7. Oracle Corporation
- 10.2.8. GE Digital (General Electric Company)
- 10.2.9. Hitachi Ltd
- 10.2.10. Software AG
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption