IoT Platforms Market to Witness Excellent Long-Term Growth Outlook By 2025
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.
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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 standardised 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.
In 2018, the global IoT Platforms market size was 1340 million US$ and it is expected to reach 9960 million US$ by the end of 2025, with a CAGR of 28.5% during 2019-2025.
This report focuses on the global IoT Platforms status, future forecast, growth opportunity, key market and key players. The study objectives are to present the IoT Platforms development in United States, Europe and China.
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The key players covered in this study
Bosch Software Innovations
Market segment by Type, the product can be split into
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
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