An IoT platform means cloud-based and on-premise software packages and related services that enable and support sophisticated IoT services. Speak specifically, An IoT platform combines several software functions into one solution to enable companies to develop and deploy Internet of Things solutions faster, better and cheaper.
PTC (ThingWorx), Cisco (Jasper) and Microsoft captured the top three revenue share spots in the IoT Platforms market in 2016. PTC (ThingWorx) dominated with 7.92% revenue share, followed by Cisco (Jasper) with 7.44% revenue share and Microsoft with 4.77% revenue share.
Despite the presence of competition problems, due to the clear global recovery trend, investors are still optimistic about this area, increasingly complex IoT solutions require more advanced communication platforms and middleware that facilitate seamless integration of devices, networks and applications. There is a wide range of software platforms developed for the purpose of supporting and enabling IoT solutions. The intention is to enable rapid development and lower costs by offering standardized components that can be shared across multiple solutions in many industry verticals, in future still more new investment will enter into the field. Technology and cost are two major problems.
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According to this study, over the next five years, the IoT Platforms market will register a 28.8% CAGR in terms of revenue, the global market size will reach USD 6110 million by 2024, from USD 1340 million in 2019. In particular, this report presents the global revenue market share of key companies in IoT Platforms business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of IoT Platforms market by product type, application, key companies, and key regions.
This study considers the IoT Platforms value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
- Consumer IoT
- Business IoT
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
- Home Automation
- Wearable Technology
- Smart City
- Industrial Automation
- Connected Transportation
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
- United States
- Southeast Asia
- Middle East & Africa
- South Africa
- GCC Countries
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
- PTC (ThingWorx)
- Cisco (Jasper)
- General Electric
- Zebra Technologies
- Xively (LogMeIn)
- Ayla Networks
- Bosch Software Innovations
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global IoT Platforms market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
- To understand the structure of IoT Platforms market by identifying its various sub-segments.
- Focuses on the key global IoT Platforms players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in the next few years.
- To analyze the IoT Platforms with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of IoT Platforms submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
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