IoT Middleware Market by Platform Type (Device, Application, and Connectivity Management), Organization Size (Large Enterprises and SMES), Vertical (Manufacturing, Government & Defense, Automotive & Transportation), and Region - Global Forecast to 2025
“Increasing focus on remote monitoring for the work from home from home initiatives are sewt to drive the IoT middleware market.”
The global IoT middleware market size is projected to grow from USD 10.1 billion in 2020 to USD 25.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period. The increase in adoption of cloud and evolution of high-speed network technologies will lead to a broader base of individuals interested in purchasing IoT devices. Growing need for centralized monitoring, is also expected to drive the market growth. However,absence of IoT standards and lack of interoperability is one of the factors hindering the market growth. The objective of the report is to define, describe, and forecast the IoT middleware market size based on platform type, organization size, vertical, and region.
In a short time, the COVID-19 outbreak has affected markets and customers' behavior and is making a substantial impact on economies and societies. With offices, educational institutions, and manufacturing facilities shutting down for an indefinite period; major sports and events being postponed; and work-from-home and social distancing policies in effect, businesses are increasingly looking for technologies to help them sail through these difficult times. The COVID-19 pandemic is impacting businesses across the globe. Analytics companies are trying to fight this pandemic by keeping their assets online and ensuring the privacy and security of data across networks.
“Connectivity management: The fastest-growing segmentof the IoT middleware market, by platform type”
The IoT middleware market, based on platform type, covers device management, application management and connectivity management.The connectivity management platform provides a common platform to manage the entire network of an organization along with devices, and, at the same time, ensure the security of communications. These platforms analyze data transferred over a network and automatically routes it to avoid congestions that can result in crashing the network. Furthermore, this platform provides centralized monitoring, helping organizations to improve operational efficiency and manage various processes optimally.
“Manufacturing: The largest growing vertical segment of the IoT middleware market.”
The manufacturing firms are moving toward Industry 4.0, wherein smart devices and automation would work together in an entirely new way. In Industry 4.0, robotics is connected remotely to computer systems equipped with ML and Artificial Intelligence (AI) algorithms, which can learn and control robots with very little inputs. IoT is at the center of factory automation and Industry 4.0, and helps organizations streamline their business processes and optimize operations. IoT platforms enable connectivity between various layers and the application layer. IoT platforms help manufacturing companies to automate processes and manage supply chains.
“APAC: Thefastest growingregion in the IoT middleware market.”
The growing digitalization across the APAC region to deal with a massive amount of data would drive the adoption of IoT middleware platform in the region. APAC has witnessed advanced and dynamic adoption of new technologies and is expected to record the highest CAGR during the forecast period. APAC is taking aggressive initiatives to leverage the IT infrastructure, enabling commercial users to adopt cutting-edge technologies. Many organizations, active in IoT, are from this region, such as Shenzhen, Samsung, and Hitachi. Certainly, the size of the potential market and local activity are attracting international organizations to focus IoT initiatives in the region.
Breakdown of primaries
The studies contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
TheIoT middleware market is dominated by a few globally established players such as IBM (US), Microsoft(US), AWS (US), SAP (Germany), PTC (US), Cisco (US), Google (US), Hitachi (Japan), HPE (US), Bosch (Germany), Oracle (US), Salesforce (US), GE (US), Schneider Electric (US), ClearBlade(US), Davra (US), MuleSoft (US), Axiros (Germany), TIBCO Software (US), Siemens (Germany), Eurotech (Italy), Flutura (US), Litmus Automation (US), Ayla Networks (US), Aeris (US), QiO Technologies (UK), Atos (France), and Exosite (US).
The report segments the IoT middleware market and forecasts its size, by volume and value, based on region (North America, Europe, APAC, MEA and Latin America), platform type (device management, application management and connectivity management), by organization size (SMEs and large enterprises), and by vertical (manufacturing, BFSI, government and defense, automotive and transportation, energy and utilities, retail, healthcare, BFSI and others).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the IoT middleware market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IoT middleware market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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