Press release
IoT Connectivity Management Platform Market Size, Trends, Growth Rate, Top Segments, Demand Patterns And Forecasts 2024-2033 | Key Players: Google LLC, Microsoft Corporation, Huawei Technologies Co Ltd., Amazon Web Services Inc., China Telecom Corporation
IoT Connectivity Management Platform Market Report
The Business Research Company offers in-depth market insights through IoT Connectivity Management Platform Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The IoT connectivity management platform market size has grown rapidly in recent years. It will grow from $7.78 billion in 2023 to $9.07 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to proliferation of IoT devices, global expansion of IoT deployments, network standard evolution, rising complexity of IoT ecosystems, security concerns, demand for cost-efficiency.
The IoT connectivity management platform market size is expected to see rapid growth in the next few years. It will grow to $17.81 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to 5G adoption and integration, edge computing integration, diverse connectivity protocols, focus on low-power IoT devices. Major trends in the forecast period include cross-industry collaboration, evolving regulatory landscape, IoT device management and lifecycle support, monetization and billing solutions.
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Market Segmentation:
The IoT connectivity management platform market covered in this report is segmented -
1) By Product Type: Cellular, Non-Cellular
2) By Component: Solution, Services
3) By Deployment Type: Cloud, On-Premises
4) By Enterprise Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
5) By Application: Automotive, Consumer Electronics, Retail, Energy and Utilities, Finance and Banking, Healthcare, Manufacturing, Other Applications
Major Driver - IoT Drives Surge In IOT Connectivity Management Platform Market
The increasing deployment of IoT devices is significantly contributing to the growth of the IoT connectivity management platform market. The number of IoT devices in an enterprise is connected through an IoT connectivity management platform for data management, data transmission, communication, and smooth interaction of numerous devices in a single frame for the network to complete various business activities. The IoT Connectivity Management Platform offers faster network monitoring, troubleshooting, application management, lowering security threats, and other services to connected IoT devices. For instance, according to Forbes, a US-based business magazine, the global number of cellular IoT devices is expected to reach 3.5 billion by 2023. Therefore, increasing the deployment of IoT devices is significantly contributing to the IoT connectivity management market growth.
Competitive Landscape:
Major companies operating in the IoT connectivity management platform market report are Google LLC, Microsoft Corporation, Huawei Technologies Co Ltd., Amazon Web Services Inc., China Telecom Corporation Limited, International Business Machines Corporation, China Unicom (Hong Kong) Limited, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Telefonaktiebolaget LM Ericsson, Nokia Corporation, ZTE Corporation, Swisscom AG, Proximus Group SA, Vodafone Idea Limited, Arm Limited, Tata Communications Limited, PTC Inc., Software AG, Comarch SA, KORE Group Holdings Inc., Aeris Communications Inc., Emnify Ltd., Truphone Limited, Mavoco AG, Aerith Inc., Links Field Networks Inc., Sierra Wireless Inc.
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Top Trend - Comprehensive Solution For Seamless Device Management Across Borders
Major companies in the IoT connectivity management platform market is focused on developing a comprehensive solution that leverages capabilities, such as native eSIM, for seamless device management across borders and to gain a competitive edge in the market. Native eSIM is an embedded SIM card within a device, enabling seamless and remote management of mobile network subscriptions without physical SIM card replacement. For instance, in July 2023, Verizon Business, a US-based division of Verizon Communications, launched its Global IoT Orchestration platform, enabling businesses to deploy and manage devices globally. Integrated with the Verizon ThingSpace IoT management platform, it leverages native eSIM and roaming capabilities from MNO partners such as Telenor and Bell Canada for seamless global IoT connectivity. The platform, available for trials, aims to simplify complex operations, providing a comprehensive solution for managing IoT deployments worldwide.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. IoT Connectivity Management Platform Market Characteristics
3. IoT Connectivity Management Platform Market Trends And Strategies
4. IoT Connectivity Management Platform Market - Macro Economic Scenario
5. IoT Connectivity Management Platform Market Size And Growth
…..
27. IoT Connectivity Management Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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