Global IoT Platform Market was valued at USD 1,640.4 million and is expected to reach USD 6,010.0 million in 2025, with growing at a healthy CAGR of 27.6% forecast by 2025.
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What are the growth drivers of this report?
Demand for better connectivity
Growing diversity in IoT standards
Industrial internet revolution
Investments in IoT start-ups
Key Market Segmentation of IoT Platform Market
By Platform (Device Management, Connectivity Management, Application Enablement),
Service (Professional Services, Training & Consulting, Integration Services, Support & Maintenance, Managed Services),
Application (Home Automation, Wearable Technology, Smart City, Industrial Automation, Connected Transportation, Healthcare, Smart Retail, Smart Agriculture, Connected Logistics, Others),
Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
How this report will help you to boost your business economy globally
This IoT Platform study gives analytical assessment of the most important challenges that may arrive in the market with respect to sales, export/import, or revenue
All the statistical data, facts, figures and information involved in this IoT Platform report is characterized suitably by using several charts, graphs or tables
This report gives you an overview of major factors such as Revenue, Cost, Gross and Gross Margin. Markets at local, regional and global level are considered in this report
This report also provides top to bottom examination of the market for estimating income, return on investment (ROI) and developing investment strategies.
The report includes market shares of IoT Platform market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key parameters which are driving this market and restraining its growth
Potential and niche segments/regions exhibiting promising growth
Amazon Web Services, Samsung Electronics, Sap, GE, Google, Davra, PTC, AT&T, Relayr, Bosch Software Innovations, Ericsson, Sierra Wireless, IBM, Microsoft, Wind River, Axiros, Hewlett Packard Enterprise, Accenture, Apple, Salesforce, Huawei Technologies, Atos and others.
What Porter’s Five Forces of Competitive Analysis Provides?
Supplier power:- An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.
Buyer power:- An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.
Competitive rivalry:- The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.
Threat of substitution:- Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.
Threat of new entry:- Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.
Five forces analysis helps organizations to understand the factors affecting profitability in a specific industry, and can help to inform decisions relating to: whether to enter a specific industry; whether to increase capacity in a specific industry; and developing competitive strategies.
Recent Industry Developments
The IoT platforms provide middleware to connect, manage devices and integrate collected data into various applications and services.
In June 2018, SORACOM Inc., a provider of cloud-native platform for the IoT entered into a strategic partnership with Mnubo Inc., a data analytics and Artificial Intelligence (AI) for IoT Company for offering IoT solutions for global enterprises.
Google acquired Xively Internet of Things (IoT) platform of LogMeIn, Inc. which aimed at provides Google Cloud with established IoT platform.
Key Research Methodology Used By Data Bridge market Research
Data triangulation – This involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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