Iot Platform Market to reach USD 21.34 Bn by 2030, growing at a CAGR of 12.8 percent and forecast (2023-2030)

Iot Platform Market to reach USD 21.34 Bn by 2030, growing at a CAGR of 12.8 percent and forecast (2023-2030)

“IoT Platform Market”
Iot Platform Market is segmented into Platform, Service, Deployment, Application, and Region. For the estimation of the Iot Platform Market size, the bottom-up approach was used.

Maximize Market Research, an international business & consultancy firm has recently published a research report on the “Iot Platform Market”. The total global market for the “Iot Platform Market” was valued at USD 9.18 Bn in 2023 and is expected to grow at a CAGR of 12.8 percent over the forecast period to reach USD 21.34 Bn by 2030.

Market Size in 2023: USD 9.18 Billion

Market Size in 2030: USD 21.34 Billion

CAGR: 12.8 Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 220

No. of Tables: 138

No. of Charts and Figures: 191

Segment Covered: By Platform, Service, Deployment, and Application

Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Iot Platform Market Report Scope and Research Methodology

The report provides dynamics of the Iot Platform Market such as drivers, restraints, opportunities, and threats. The market is segmented into major regions North America, Europe, Asia Pacific, The Middle East and Africa, and South America. The report also covers a strategic study of key market players in the marketThe Iot Platform Market report presents the key player’s in-depth analysis of the industry, including company profile, revenue, product specifications, technology development and product sales, price, and gross margin sales. The market overview of the industry and market development of Iot Platform is given in the report. The SWOT analysis was used to study the strengths and weaknesses of the Iot Platform Market. The bottom-up approach was used to estimate the Iot Platform Market size.

Iot Platform Market Overview

An Industrial IoT (IIoT) platform integrates real-time data from various hardware, software systems, sensors, and other sources into a unified environment accessible to a broad range of users. By centralizing data—often in the cloud, though sometimes on-premises or at the edge—it bridges the gap between systems, people, and machinery, which drives the market demand globally. Also, IoT platforms help to organize rules on the device data and create real-time alerts based on any faulty or unexpected device readings, which is the key market driver.

The advancement in drone technology to boost market growth

The rapid growth of the Internet of Things (IoT) is fueling a surge in connected devices across industries, presenting both opportunities and industry-driving growth factors. As businesses embrace IoT technologies for Business Intelligence, AI, ML, and Analytics, they encounter the task of effectively managing these devices. IoT platforms emerge as a vital solution, offering remote management and monitoring capabilities. This growing industry is propelled by the efficiency gains achieved through remote device management, enabling organizations to optimize time and resources previously allocated to manual device oversight. Moreover, businesses stand to benefit from reduced labor costs associated with manual device management. Industrial IoT solutions, leveraging real-time data on equipment and personnel performance, play a pivotal role in streamlining business operations. By seamlessly integrating IoT data with other internal and external sources, these platforms drive operational enhancements, particularly in predictive maintenance and supply chain visibility through track-and-trace capabilities.

North America is expected to dominate the IoT platform market during the forecast period.  In North America, IoT is a rapidly growing industry in the United States with the largest market share in 2023, and is expected to maintain its position in the North American region during the forecast period. The market growth is driven by Increased scalability, IoT device management can help to improve security by providing a way to remotely monitor and manage devices, Businesses can save on labor costs, and cloud integration are key factor that is expected to fuel the market in the region.

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IoT Platform Market Segmentation

By Platform   

  • Device Management
  • Connectivity Management
  • Application Enablement

Based on the platform segment, the device management segment holds the largest IoT platform Market over the forecast period. IoT device management solution combines highly configurable device structuring, real-time access and full visibility into device status and performance all on a single, self-service platform, these factors are responsible for the segment growth in the market.

By Service      

  • Professional Services
  • Training and Consulting
  • Integration and Deployment
  • Support and Maintenance
  • Managed Services

By Deployment         

  • Public Cloud
  • Private Cloud
  • Hybrid

By Application          

  • Building and Home Automation
  • Smart Manufacturing
  • Smart Transportation
  • Connected Healthcare
  • Smart Retail
  • Smart Grid and Utilities
  • Others

Iot Platform Market’s Key Players include:

North America Iot Platform Market’s Key Players

  • IBM (USA)
  • Microsoft (USA)
  • Amazon Web Services (AWS) (USA)
  • Cisco (USA)
  • Google (USA)

Europe Iot Platform Market’s Key Players

  • Siemens (Germany)
  • SAP (Germany)
  • Bosch (Germany)
  • Software AG (Germany)
  • Atos (France)

Asia-Pacific Iot Platform Market’s Key Players

  • Huawei (China)
  • Alibaba (China)
  • Samsung (South Korea)
  • Hitachi (Japan)
  • Fujitsu (Japan)

Middle East & Africa Iot Platform Market’s Key Players

  • SAP Africa (South Africa)
  • PTC (Israel)
  • Etisalat (UAE)
  • GE Digital (various regional operations)
  • Orange (various regional operations)

Key questions answered in the Iot Platform Market are:

  • What are Iot Platform?
  • What was the Iot Platform Market size in 2023?
  • What is the expected Iot Platform Market size by 2030?
  • What is the growth rate of the Iot Platform Market?
  • What are the key benefits of the Iot Platform Market?
  • What are the new trends in Iot Platform?
  • What is the driving, opportunity, and restraining factors in the global Iot Platform Market?
  • Which are the factors expected to drive the Iot Platform Market growth?
  • Which factors are expected to restrain the Iot Platform Market growth?
  • Which segment dominated the Iot Platform Market growth?
  • What is the demand pattern for the Iot Platform Market?
  • Which region held the largest share of the Iot Platform Market?
  • Who are the key players in the Iot Platform Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023 −2030
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by platform, Service, Deployment, Application, and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of Business by Region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is a leading Information Technology & Telecommunication research firm that has also published the following reports:

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic Industries, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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