The IoT Connectivity Management Platform Global Market Report 2023 by The Business Research Company, provides iot connectivity management platform market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s IoT Connectivity Management Platform Global Market Report 2023, the global iot connectivity management platform market size will grow from $6.85 billion in 2022 to $8.08 billion in 2023 at a compound annual growth rate (CAGR) of 18.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the iot connectivity management platform is expected to grow to $15.49 billion in 2027 at a CAGR of 17.7%.
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.
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The iot connectivity management platform market 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, Consulmer Electronics, Retail, Energy and Utlities, Finance and Banking, Healthcare, Manufacturing, Other Applications
Technological advancements have emerged as the key trend gaining popularity in the IoT connectivity management market. Major companies operating in the IoT connectivity management sector are focused on developing new technologically advanced solutions to optimize their business operations. For instance, in November 2020, Aeris, a US-based company operating in the IoT connectivity management platform, launched Aeris Cloud Connect based on cloud computing technology. Cloud computing technology gives users access to data storage, files, and servers through interconnected devices such as computers, tablets, smartphones, and others in an organization. Data is stored, processed, and managed by a third-party organization to manage the large data sets of the organization for the organization’s smooth functioning. Aeris Cloud Connect establishes a private connection between Aeris Fusion IoT Network and clients’ AWS (Amazon Web Services) cloud instances via an underlying MPLS (multi-protocol label switching) connection, allowing data transfer from IoT devices directly to the cloud without the use of a VPN (Virtual Private Network) and without the need for data sharing over the public internet.
The iot connectivity management platform market report table of contents includes:
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