According to a new report published by UnivDatos Markets Insights, the IoT Middleware Market was valued at USD 10.5 billion in 2020 and is expected to witness an exponential CAGR of around 19% during 2022-2028. The analysis has been segmented into Platform Type (Device Management, Application Management, and Connectivity Management); Organization Size (Large Enterprises and SMEs); Industry (Manufacturing, Government, Transportation, Healthcare, and Others); Region/Country; Region/Country.
Click here to view the Report Description & TOC
The IoT Middleware market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the IoT Middleware market. The IoT Middleware market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the IoT Middleware market at the global and regional levels.
Request for Sample Pages
The global IoT middleware market is anticipated to witness an uptick with the increasing development of high-speed network technologies and the rising government investments and initiatives in projects like smart cities & automation are also fueling the market growth. IoT middleware is defined as software that acts as an interface between IoT components. It helps establish communication between IoT components. By establishing communication between IoT middleware and machine programs, machines, components, and hardware can be connected to IoT networks using IoT middleware. Furthermore, according to the GSM Association, IoT connections will reach almost 25 billion globally by 2025, up from 10.3 billion in 2018, which is further contributing to the growth of this market. Moreover, the absence of uniform IoT standards and concerns over data security and privacy are the major factors among others restraining the market growth.
Some of the major players operating in the market include Microsoft Corporation, International Business Machines Corporation, Amazon.com Inc., SAP SE, PTC Inc., Cisco Systems Inc., Google LLC, Hewlett Packard Enterprises, Robert Bosch GmbH, and Oracle Corporation.
The outbreak of Covid-19 significantly impacted the market size of IoT middleware in 2020. It intensified the need to invest in IoT infrastructure and solutions to boost the productivity and efficiency of various industries. The demand for improving processes, enhancing production efficiency and quality, and helping to introduce greater flexibility into the business are further impacting the IoT middleware market.
The global IoT Middleware market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on organization size, the market is classified into large enterprises and SMEs. Large enterprises are expected to witness influential growth. This is mainly because large enterprises are keen to utilize the advantages of IoT platforms to increase the scalability and efficiency of their businesses. The multiple benefits of IoT, such as reduced costs, increased agility, and scalability, increased revenue, and improved performance, have led small businesses to adopt IoT solutions. This will positively impact the growth of the IoT middleware market
· On the basis of industry, the market is segmented on the basis of manufacturing, government, transportation, healthcare, and others. The manufacturing industry caters significant share of the market and is expected to witness considerable growth in the forecasted period as well. Factors such as the increasing adoption of IoT in the manufacturing industry and the growing manufacturing sector all around the globe are accelerating the market outlook. For instance, according to the United Nations Industrial Development Organization (UNIDO), global manufacturing production increased by 9.4 percent in 2021, after the pandemic-related drop of 4.2 percent in 2020.
IoT Middleware Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
APAC held a prominent share of the market and is further expected to grow at an influential growth rate. This is mainly due to growing awareness of increasing business productivity, complemented by well-designed IoT middleware platforms offered by vendors based in the region. Moreover, the presence of rapidly growing economies such as China and India is another factor contributing to the growth of the IoT middleware market in the region.
The major players targeting the market include
· Microsoft Corporation
· International Business Machines Corporation
· Amazon.com Inc.
· SAP SE
· PTC Inc.
· Cisco Systems Inc.
· Google LLC
· Hewlett Packard Enterprises
· Robert Bosch GmbH
· Oracle Corporation
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the IoT Middleware Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the IoT Middleware market?
• Which factors are influencing the IoT Middleware market over the forecast period?
• What are the global challenges, threats, and risks in the IoT Middleware market?
• Which factors are propelling and restraining the IoT Middleware market?
• What are the demanding global regions of the IoT Middleware market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.