openPR Logo
Press release

IIoT Platform Market Achieved USD 6,000 million in 2020 and growing at a CAGR of 14.8% during 2021-2028 | Size, Share & Report Growth

09-21-2022 10:15 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

IIoT Platform Market

IIoT Platform Market

Iiot Platform Market

The Iiot Platform Market was estimated around USD 6,000 million in 2020 and is expected to grow at a CAGR of 14.8% over the forecast period (2021-2028).

For Additional Insights, Click to Access Complete Report -

The factors driving the growth of Iiot Platform Market includes growing demand for IoT enabled devices, shift towards digital transformation across industry verticals, increasing application of Iiot in Remote monitoring, Asset management and predictive maintenance and growing trend of Work from Home (WFH) around the world. As per the data available at Statista, the number of IoT connected devices worldwide were calculated around 9.7 billion in 2020 and is expected to reach 27.3 billion by the end of 2029, which will accelerate the Global Iiot Platform Market in the approaching years. Moreover, commercialization of 5G technology, strategic merger and acquisitions between key industry players and growing adoption of advanced technologies such as Artificial Intelligence (AI), Big Data and Cloud Computing by major organizations, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rapid industrialization, rising disposable income and growing population growth rates, are further contributing towards the market growth.

However, growth of the Iiot Platform Market is hindered attributed to insufficient availability of skilled workforce.

The leading players operating in the market are GE Digital, Ubidots, Zoho Corporation, IBM, Microsoft, Oracle, Samsung, Telit, Siemens, Google, Cisco Systems and Salesforce, among others.

Based on Application, the Automation Control segment is predicted to hold the highest market share during the forecast period

Availability of powerful and cheaper sensors across industry verticals such as Automotive and Consumer Electronics, is pushing growth of the segment.

Based on End-User, the Semiconductors and electronics segment is projected to capture the largest market share over the forecast period

Increasing penetration of connected devices and growing adoption of advanced technologies, is propelling growth of the segment.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of the leading players such as Google, Cisco Systems and Microsoft Corporation, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), rising tech savvy population and high per capita incomes, are some of the important factors augmenting the Iiot Platform Market size in North American region.

Key Developments

In 2020, AWS partnered with BlackBerry to develop IIoT based safe, secure, and intelligent connected vehicle software platform for in-vehicle applications.
In 2019, IBM collaborated with SmartCone Technologies to incorporate SmartCone Technology solutions with its innovative IBM Watson IoT Platform for developing new detection and alert systems.
In 2019, Cisco Systems introduced a new version of its Cisco IOx i.e., Cisco IOx 1.10.0.

Market Segmentation

Segmentation by Platforms

Application Enablement
Device Management
Connectivity Management

Segmentation by Application

Predictive Maintenance
Automation Control

Segmentation by End-User

Logistics and transportation
Machine manufacturing
Semiconductors and electronics

Segmentation by Region

Asia Pacific
Rest of APAC

North America
United States of America

United Kingdom
Rest of Europe

South Africa
Saudi Arabia

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release IIoT Platform Market Achieved USD 6,000 million in 2020 and growing at a CAGR of 14.8% during 2021-2028 | Size, Share & Report Growth here

News-ID: 2743160 • Views: 343

More Releases from GMI Research

Telecom Cloud Market earned USD 19.1 Billion in 2020 and anticipated to reach US …
Telecom Cloud Market reached USD 19.1 Billion in 2020 and is projected to reach USD 95.6 Billion in 2028, the market is growing at a CAGR of 22.3% till 2028. For Additional Insights, Click to Access Complete Report - Key Drivers The factors proliferating the Telecom Cloud Market includes rising number of internet mobile subscriptions, inclination towards cloud computing services over land line services and growing demand for information infrastructure services. Increasing
Graphene Battery Market is estimated to reach USD 545 million in 2028, registeri …
Graphene Battery Market was valued at USD 73 million in 2020, and is estimated to reach USD 545 million in 2028, increasing at a higher CAGR of 28.5% during 2020-2028. For Additional Insights, Click to Access Complete Report - The factors driving the growth of Graphene Battery Market includes growing demand for graphene batteries in Automotive, consumer electronics and power sector, increasing investments on research and development for enhancing the lithium-ion
Social Media Analytics Market is estimated to touch USD 21.6 billion in 2029, re …
Social Media Analytics Market was valued at USD 4.2 billion in 2021 and is estimate to reach USD 21.6 billion in 2029 growing at a CAGR of 22.7% For Additional Insights, Click to Access Complete Report - The factors driving the growth of Social Media Analytics Market includes the increasing demand for business intelligence tools, increasing number of smartphones, growing focus by businesses on collecting customer feedback and proliferation of social
GCC Construction Chemical Market is Predicted to Expand at a Promising CAGR duri …
The GCC Construction Chemical Market is estimated to grow at a robust CAGR over the forecast period (2022-2029). For Additional Insights, Click to Access Complete Report - The factors driving growth of the GCC Construction Chemical Market includes increasing focus of Governments on reducing their dependency on oil and gas sector, emerging need to repair the ageing buildings, rise in the number of smart cities and improvements in the living standards.

All 5 Releases

More Releases for Platform

Process Automation (DPA) Software Market 2022 Analysis by Key Players - KiSSFLOW …
Process Automation (DPA) Software Market Scope and Overview Digital process automation (DPA) software is an emerging market of tools containing features found in many technologies, including a number of process automation and rapid application development software technologies. The most recent research report provides in-depth analysis of all segments, categories, and regional and national markets studied in the Process Automation (DPA) Software Market study, as well as thorough data on all regional markets.
Internet of Robotic Things (IoRT) Market Growing Up By Platform: Device Manageme …
Acumen Research and Consulting has announced the addition of the "Internet of Robotic Things (IoRT) Market” report to their offering. The Internet of Robotic Things (IoRT) Market Report 2018 is an in depth study analyzing the current state of the Internet of Robotic Things (IoRT) Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Internet of Robotic Things
Process Automation (DPA) Software- A Market Worth Observing Growth | Nintex Plat …
The latest 94+ page survey report on Global Process Automation (DPA) Software Market is released by HTF MI covering various players of the industry selected from global geographies like North America, Europe, China, Japan, Southeast Asia, India & Central & South America. A perfect mix of quantitative & qualitative Market information highlighting developments, industry challenges that competitors are facing along with gaps and opportunity available and would trend in Process
Process Automation (DPA) Software Market 2020: Trends, Share and Manufacturer An …
The Global Process Automation (DPA) Software Industry: 2020 Market Report is a professional and in-depth study on the current state of the Process Automation (DPA) Software Market. Complete report on Process Automation (DPA) Software market spread across 94 pages, profiling 9 companies and supported with tables and figures is now available at The report provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Process
Residential Energy Management Market Report 2018: Segmentation by Platform (Ener …
Global Residential Energy Management market research report provides company profile for Elster Group, General Electric Company, Itron Incorporate, Landis+Gyr AG, Schneider Electric SE, Opower Incorporate, Silver Spring Network, Aclara Technologies LLC, Ltd, Tendril Networks, Inc. and Others. This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY
Low Code Development Platform Market: Demand for Mobile-first App Platform and G …
Highly fragmented, yet full of promises, the global low code development platform market is forecast to report exponential growth in the coming years. Google Inc. is one of the recent players to join the bandwagon. In December 2016 they announces a flurry of low-code solutions for developers. With this, they joined OutSystems besides other vendors who identified and acknowledged the daily struggles of IT teams with regards to resources challenges