IoT Platforms Market Key Highlights:
- Market Size (2024): USD 5.67 Billion
- Projected Market Size (2034): USD 48.37 Billion
- CAGR (2023-2034): 23.90%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT Platforms Market Definition
The IoT platform market is an integral branch of the next-generation technologies industry. This industry deals in the development of software for operating IoT-based devices. The various components of this industry include platforms and services. The various platforms developed by this industry consist of device management, connectivity management, application enablement, and others. The benefits of the IoT platform include cost savings, analytics, security, scalability, analysis, compliance regulation, and some others. The growing demand for remote monitoring and automation is likely to shape the industry in a positive way. This market is likely to rise significantly with the growth of the IT and telecom industries across the world.
The growing adoption of IoT platforms in large enterprises and SMEs across the world is driving market growth. Also, the rising application of consumer IoT, enterprise IoT, and Industrial IoT, along with increased deployment of cloud-based IoT platforms in organizations, is an integral driver of the industry. Moreover, the growing use of IoT platforms in various end-uses such as smart manufacturing, smart infrastructure, smart grid and utilities, connected healthcare, smart retail, smart transportation, telecommunications, and some others is boosting the growth of the IoT platform market.
Advancements in IoT security, along with a growing number of smart city projects across the world is expected to create ample growth opportunities for the market players in the future. In September 2024, Zoho Corporation launched Zoho IoT. Zoho IoT is an IoT platform used for several applications in organizations.
IoT Platforms Market Segmentation:
By Type
- Consumer IoT
- Business IoT
By Application
- Smart Home & Wearables
- Smart Energy
- Smart Security
- Manufacturing
- Transportation & Logistics
- Healthcare
- Others
IoT Platforms Market Companies:
- PTC (ThingWorx)
- Cisco (Jasper)
- Microsoft (Azure)
- Google
- IBM
- Intel
- SAP
- Oracle
- Amazon Web Services (AWS)
- Telit
- General Electric
- Zebra Technologies
- AT&T
- Aeris
- Exosite
- Particle
- Ayla Networks
- relayr
- Bosch Software Innovations
- Teezle
- Thales (Cinterion)
- Salesforce
- IRI
- ThingWorx
- KaaIoT Technologies
- WSO2
- GE Digital (Predix Platform)
- HPE
- Zyter (SmartSpaces)
- IOTech
- UrsaLeo
- Verizon (ThingSpace)
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