According to a 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.
Browse 301 market data Tables and 42 Figures spread through 266 Pages and in-depth TOC on “IoT Middleware Market – Global Forecast to 2024″
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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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Microsoft was founded in 1975 and is headquartered in Washington, US. The company generates revenue by licensing and supporting a range of software products, and offering a series of cloud-based and other services to customers across the globe. It operates through 3 business segments, namely, productivity and business processes, more personal computing, and intelligent cloud. It believes cybersecurity is a challenge in the digital age, and therefore, focuses on innovating solutions to provide end-to-end security to customers with security operations at a global scale. In the IoT middleware market, the company offers Microsoft Azure IoT platform to accelerate business transformation with the help of the IoT technology. This platform reduces complexities, lowers costs, and speeds up business processes. It offers IoT services and solutions, such as remote monitoring, predictive maintenance, smart spaces, and connected products. It improves customers’ business processes using sensors and advanced analytics to predict needed maintenance and reduce unplanned downtime cutting into production time. The company caters its Azure IoT platform to various industry verticals, including manufacturing, transportation, smart spaces, retail, healthcare, and natural resources.
IBM was founded in 1911 and is headquartered in New York, US. The company operates through 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, global financing, and others. It offers industry solutions, system services, IT infrastructure, resiliency services, and financing. IBM’s Watson IoT platform is widely used by its commercial clients for deploying their IoT solutions. Its Cloud platform helps developers integrate IoT data and deploy IoT applications. Its predictive maintenance and quality software help in monitoring, maintaining, and optimizing the assets, operations, and supply chains of IoT customers. In addition to this, the company provides embedded software development for IoT and systems engineering, smart and connected products, and its commercial clients. Furthermore, it offers facilities management, enterprise asset management, and system engineering solutions to the IoT space.
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