According to a new market research report “IoT Middleware Market by Platform Type (Device, Application, and Connectivity Management), Organization Size (Large Enterprises and SMES), Vertical (Manufacturing, Government & Defense, Automotive & Transportation), and Region – Global Forecast to 2025″ published by MarketsandMarkets, the global IoT middleware market size is expected to grow from USD 10.1 billion in 2020 to USD 25.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period.
The major growth factors of the cognitive computing market include the increasing adoption of digitization and automation across various industry verticals. The increasing demand for intelligent business processes to enhance decision-making, the benefit of cost-effectiveness offered by cognitive solutions, and fulfilling the enterprise need to adopt advanced cognitive abilities to reduce operational costs.
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Increasing use of embedded sensors, and availability of fast cellular networks LTA and 3G driving the adoption of IoT middleware platforms in healthcare vertical during the forecast period
Connectivity between sensors and devices enables healthcare organizations to streamline their clinical operations and manage workflows, and aid in real-time patient care, even from remote locations. Hence, healthcare organizations are focusing on implementing robust applications and connected technologies. Some of the new IoT enabled solutions for the healthcare industry are remote patient monitoring, healthcare workflow management, medication management, and medical asset tracking. Organizations are getting involved in this vertical because of the significant knowledge and experience they share over communication infrastructure, which is essential for M2M communication.
Rising need to manage, secure, and track devices in an organization to drive the demand for device management platform segment to hold a larger market size
The IoT middleware market, covers platform types such as device management, application management, and network management. The device management platform provides capabilities such as provisioning and authentication, configuration and control, monitoring and diagnostics, software updates, and maintenance. Furthermore, the device management platform is instrumental in offering advanced features, such as activation certification, configuration, device monitoring, troubleshooting, and service and device enablement. Device management platforms assist organizations in effectively managing and tracking, and securing the devices used in the organization. With the help of these platforms, organizations can proactively and remotely monitor and configure their smart devices and other hardware and software solutions as soon as their devices and processes are connected.
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North America to dominate the market during the forecast period
North America is expected to dominate the global market from 2020 to 2025, owing to the presence of several solution vendors in the US. Canada has the highest internet penetration rate responsible for the growth of North America. Additionally, the presence of several vendors and favorable support environments has led to the foundation of a robust support ecosystem in the region. The increasing demand for risk management solutions and rise in the requirement of on-time authentic information would drive the growth of the IoT middleware market in this region.
The major vendors offering IoT middleware are IBM (US), Microsoft(US), AWS (US), SAP (Germany), PTC (US), Cisco (US), Google (US), Hitachi (Japan), HPE (US), Bosch (Germany), Oracle (US), Salesforce (US), GE (US), Schneider Electric (US), ClearBlade(US), Davra (US), MuleSoft (US), Axiros (Germany), TIBCO Software (US), Siemens (Germany), Eurotech (Italy), Flutura (US), Litmus Automation (US), Ayla Networks (US), Aeris (US), QiO Technologies (UK), Atos (France), and Exosite (US).
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