Global IoT Platform Market Research Report— by Platform (Connectivity / M2M platforms), Deployment (Cloud, Hybrid), Application (Database Management, Device Management), End User (Manufacturing) by Region—Forecast till 2030

IoT Platform Market Overview:

loT platform refers to a joint effort made by various open source contributors to develop a new range of open large-scale intelligent loT which is the internet of things. The applications are made following whatever the utility cloud computing delivery model is made. The technology is well defined as a natural extension to cloud computing implications. loT enables access to additional and increasingly important loT based capabilities and resources. One also enjoys the offers of formulation and management of environments comprising loT resources which deliver on-demand utility and loT services. The global IoT platform market is expected to expand at 15.23% CAGR with a market value of USD 21.55 Billion in 2030.


Covid-19 Analysis:
Due to the complete shutdown manufacturing units were adversely affected. Lack of workers and government policies dragged the market down during the year 2019. Things still haven’t gotten better and this can affect the growth of the market. The process of vaccination was initiated this year and is still continuing. After lowering of cases due to vaccination, when the lockdown opens up completely.

IoT Platform Market Dynamics:
Drivers:
The factors that are majorly contributing to the IoT platform markets include the demand for data storage over the cloud. This is acting as the major contributor to the increasing demand for loT platforms. Some other factors that influence the growth of loT platforms include the increasing number of connected devices in a loT ecosystem which has led to an increase in transferring, downloading, uploading large volumes of data which is usually done by the enterprise's data centers. The rise in the need for reducing the cost of all the connected devices across the globe act as one of the major factors that fuel the growth of the open loT platform market.

Opportunities:
Factors that pose opportunities for the growth of the loT market include an increase in demand for the open loT platforms which have provided open-source codes to the public for its modifications from the original design. That is also the witness of the rise in the use of potato devices such as smartphones and tablets. People have also started adopting the platform knowing how easily it can be installed and its cost-effectiveness.

Restraints:
Those are factors that are expected to pose a hindrance to the growth of the loT platform. These factors include an increase in data security and privacy concerns among the customers. That is an immense increase in data theft, online scams, and hackers all around the internet. These factors are expected to obstruct the market growth of a loT of platforms. In addition to this, the lack of common standards is also projected as a challenge to the open loT market.

Value Chain Analysis:
There are many benefits of the loT platform. This prominent value and use include working on processes such as managing, processing, and transferring the information to and from any connected device. The transfer management and processing are usually done with the help of the internet. IoT platforms provide connectivity to various compatible hardware devices which include mobiles, laptops, wearable fitness devices, industrial control systems, automotive telematics units, drone units, etc. In addition to these benefits, IoT platforms are also scalable and cross-device compatible which offers ready-to-use features to accelerate the development of applications for any connected device. Enterprises use IoT platforms to manage their IoT components and integrate the same into different operations which can drive insightful business decisions.

IoT Platform Market Segmentation:
The loT platform market has been segmented based on the platform, based on the deployment, based on the application, based on the end-users, and based on the region.

Based on the Platform:
Based on the platform, the loT platform market is divided into connectivity/M2M platform, laaS back-end, hardware-specific software platform, and consumer/ enterprise software extension. The connectivity/M2M platform according to the analysis accounts for the largest market share in the year 2017. However, the hardware-specific software platform segment is expected to show the highest CAGR of 31.5% during the forecasted period.

Based on the Deployment
The Global loT platform based on deployment is classified into on-premises, cloud, and hybrid. The own premises segment accounts for about 28.5% in 2017 which is the largest market share. The hybrid segment accounts for the highest CAGR during the assessment period.

Based on the Application:
On the application basis loT platform is divided into device management, database management, analytics, and processing. The device management segment comprises the largest market share in 2017 while the analytics segment accounts for the highest registered CAGR of 32.7% over the next few years.

Based on the End-Users:
On the end-user basis, the global platform is divided into manufacturing, smart cities and homes, retail, health care, and others. The global IoT platform market is expected to expand at ~28.5% CAGR with a market value of 74.74 billion in 2023.

Based on the Region:
On a regional basis, the loT platform is segmented into the Asia Pacific, North America, Europe and the Middle East, and Africa and South America.

IoT Platform Market Regional Analysis:
On a regional basis, the loT platform is segmented into the Asia Pacific, North America, Europe and the Middle East, and Africa and South America.

According to the loT platform analysis, America is expected to show the largest loT platform market share. North America is expected to remain the dominant region during the forecasted period. The factors which made North America the largest market holder are due to the enterprises in these regions who have adopted cloud technology to a very large extent. This large extent has not yet been made in other regions in the world. Other factors include robust cloud infrastructure, an increasing number of connected devices, and advancements made in artificial intelligence and machine learning technologies. All these factors are set to influence as well as fuel the market of growth during the assessment period in the loT platform market.

IoT Platform Market Competitive Landscape:
The prominent key players of the DMS market in the global market are mentioned down below.

• SAMSUNG


• Robert Bosch GmbH


• Ayla Networks Inc.


• GENERAL ELECTRIC


• KaaIoT Technologies LLC


• The ThingsBoard Authors


• SiteWhere LLC.


• Siemens


• Italtel S.p.A.


• io


• IBM


• Cisco


• Google


• SAP SE


• Apple Inc.


• Vodafone Group Plc.


• Accenture Plc


• Time Inc.


• Hewlett Packard Enterprise Development LP


• SAMSUNG


• Intel Corporation


• Microsoft


• Oracle


• PTC


• Amazon Web Services Inc.


• Happiest Minds


• HARMAN International

All these prominent key players play a major road in the dynamics and growth of the DMS market. These companies have adapted various strategies including acquisitions, establishments, collaborations, mergers, new production processes, innovations, extensions, joint ventures, technology widening the existing products, partnerships, etc, to develop a strong growth base.

Recent Developments:
Given below are some recent developments seen in the global IoT market-

• Various companies have improved and advanced in several capabilities such as expertise, speed, and agility which helps to manage the loT data resources.


• Developments are made to increase backup servers and mitigate risks while guaranteeing enough time, system availability, and speed.

Report Overview:
The global DMS market in the global market research report consists of the following elements which are mentioned down below-

• Market overview


• Covid 19 analysis


• Market dynamics


• Value chain analysis


• Market segmentation


• Regional analysis


• Competitive landscape


• Recent developments

In the global DMS market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of DMS. Various factors restrain the growth of the loT platform and hamper the development of such a fine-based market. The research report also consists of various analyses based on Covid 19 impact market dynamics, different segmentations, regional analysis, and the DMS market. We have also discussed the CAGR and future market value in this report.

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