Overview and Scope
The IoT connectivity management platform are platforms used in organizations to connect various devices, hardware, software, and connectivity technologies. The IoT connectivity management platform provides access to data and insights for analysis that helps to optimize deploy devices and increase the project success rate. Additionally, the IoT connectivity management platform reduces operational charges and increases the security of various devices connected in organizations.
Sizing and Forecast
The IoT connectivity management platform market size has grown rapidly in recent years. It will grow from $7.78 billion in 2023 to $9.07 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to proliferation of IoT devices, global expansion of IoT deployments, network standard evolution, rising complexity of IoT ecosystems, security concerns, demand for cost-efficiency.
The IoT connectivity management platform market size is expected to see rapid growth in the next few years. It will grow to $17.81 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to 5G adoption and integration, edge computing integration, diverse connectivity protocols, focus on low-power IoT devices. Major trends in the forecast period include cross-industry collaboration, evolving regulatory landscape, IoT device management and lifecycle support, monetization and billing solutions.
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Segmentation & Regional Insights
The IoT connectivity management platform market covered in this report is segmented –
1) By Product Type: Cellular, Non-Cellular
2) By Component: Solution, Services
3) By Deployment Type: Cloud, On-Premises
4) By Enterprise Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
5) By Application: Automotive, Consumer Electronics, Retail, Energy and Utilities, Finance and Banking, Healthcare, Manufacturing, Other Applications
Asia-Pacific was the largest region in the IoT connectivity management platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the iot connectivity management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing deployment of IoT devices is significantly contributing to the growth of the IoT connectivity management platform market. The number of IoT devices in an enterprise is connected through an IoT connectivity management platform for data management, data transmission, communication, and smooth interaction of numerous devices in a single frame for the network to complete various business activities. The IoT Connectivity Management Platform offers faster network monitoring, troubleshooting, application management, lowering security threats, and other services to connected IoT devices. For instance, according to Forbes, a US-based business magazine, the global number of cellular IoT devices is expected to reach 3.5 billion by 2023. Therefore, increasing the deployment of IoT devices is significantly contributing to the IoT connectivity management market growth.
Key Industry Players
Major companies operating in the IoT connectivity management platform market report are Google LLC, Microsoft Corporation, Huawei Technologies Co Ltd., Amazon Web Services Inc., China Telecom Corporation Limited, International Business Machines Corporation, China Unicom (Hong Kong) Limited, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Telefonaktiebolaget LM Ericsson, Nokia Corporation, ZTE Corporation, Swisscom AG, Proximus Group SA, Vodafone Idea Limited, Arm Limited, Tata Communications Limited, PTC Inc., Software AG, Comarch SA, KORE Group Holdings Inc., Aeris Communications Inc., Emnify Ltd., Truphone Limited, Mavoco AG, Aerith Inc., Links Field Networks Inc., Sierra Wireless Inc.
The iot connectivity management platform market report table of contents includes:
1. Executive Summary
2. IoT Connectivity Management Platform Market Characteristics
3. IoT Connectivity Management Platform Market Trends And Strategies
4. IoT Connectivity Management Platform Market – Macro Economic Scenario
5. Global IoT Connectivity Management Platform Market Size and Growth
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32. Global IoT Connectivity Management Platform Market Competitive Benchmarking
33. Global IoT Connectivity Management Platform Market Competitive Dashboard
34. Key Mergers And Acquisitions In The IoT Connectivity Management Platform Market
35. IoT Connectivity Management Platform Market Future Outlook and Potential Analysis
36. Appendix
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