PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279642
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279642
Global Internet of Things (IoT) platform market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. An IoT platform controls device connectivity and enables the development of new mobile software apps by developers. It makes business transformation feasible and easier to collect data from devices. It offers a framework for gathering information from IoT devices, processing and analyzing that information, drawing conclusions, and taking actions in response to those results. IoT platforms often provide choices for connectivity, device administration, data visualization, and security. These platforms play a significant role in assisting various designers of IoT devices to connect their projects to the Internet. The market growth is driven by the factors such as growing automation, increasing IoT spending, coupled with the rising inclination toward cloud-based data management platforms.
The surge in penetration of IoT-connected devices is playing a vital role in market development across the globe. IoT platform offers improved connectivity with a range of IoT-compatible hardware devices including mobiles, laptops, wearable fitness devices, industrial control systems, automotive telematics units, etc. According to Statista, the number of Internet of Things (IoT) connected devices is expected to account for 8.6 billion in the year 2019 and is projected to rise to 19.1 billion in 2025 and 29.4 billion by the end of 2030. Therefore, the growing adoption of IoT-connected devices is bolstering the market growth during the estimated period. Moreover, the rising adoption of emerging technologies, as well as the growing demand for data analytics are presenting various lucrative opportunities over the forecasting years. However, the lack of infrastructure to scale platforms and data security and privacy concerns are hindering the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Internet of Things (IoT) platform market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing demand for IoT-enabled devices, increasing R&D investments in technology developments, and the rising presence of leading market players. Whereas, the Asia Pacific is also expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising number of smart city projects, increasing trend of automation, geographic expansion of key players, and increasing number of IoT-connected devices in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable