IoT Platform Market Expanding at a Healthy 23.45% CAGR, To Reach a Value of $31.73 Billion by 2030

The latest study released on the Global IoT Platform Market by HTF MI evaluates market size, trend, and forecast to 2030. The IoT Platform market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in This Report Include: PTC Inc. (United States), SAP SE (Germany), International Business Machines Corporation (IBM) (United States), Hitachi, Ltd. (Japan), Atos (France), Altizon Systems (United States), Flutura Decision Sciences and Analytics (United States), Oracle Corporation (United States), Amazon.com, Inc. (United States)

According to HTF Market Intelligence, the global IoT Platform market is valued at USD 8.95 Billion in 2023 and estimated to reach a revenue of USD 31.73 Billion by 2030, with a CAGR of 23.45% from 2023 to 2030.

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Definition:
An Internet of Things (IoT) platform is a comprehensive software solution that facilitates the management, connectivity, data collection, analysis, and application development for IoT devices and systems. These platforms serve as the backbone of IoT deployments, enabling organizations to effectively deploy, monitor, and control large numbers of connected devices and extract meaningful insights from the data they generate.

Market Trends:
With the growing volume of data generated by IoT devices, there was a shift towards edge computing within IoT platforms. Edge computing enables data processing to occur closer to the data source, reducing latency, bandwidth usage, and reliance on cloud infrastructure.

Market Drivers:
IoT platforms offered opportunities for cost reduction and operational efficiency by automating processes, optimizing resource utilization, and enabling predictive maintenance.

Market Opportunities:
Industries across the board are undergoing digital transformation, integrating IoT technologies into their operations to improve efficiency, reduce costs, and enhance competitiveness.

Market Leaders & Development Strategies:
In March 2023, KORE Group Holdings, a prominent player in IoT Solutions and IoT Connectivity-as-a-Service (IoT CaaS), has revealed its definitive agreement to acquire Twilio's IoT business division. This strategic move is aimed at bolstering KORE's growth strategy and offering customers a seamless, integrated approach to deploying IoT solutions, solidifying its position as a premier IoT provider. In exchange for the acquisition, Twilio, renowned for its customer engagement platform, will receive 10 million shares of KORE common stock, equating to approximately 11.5% of KORE's total issued and outstanding shares.

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The Global IoT Platform Market segments and Market Data Break Down are illuminated below:
IoT Platform Market is Segmented by Application (Predictive Maintenance, Business Process Optimization, Asset Tracking) by Type (Device Management, Application Management, Connectivity Management) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global IoT Platform market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)

• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
• -To carefully analyze and forecast the size of the IoT Platform market by value and volume.
• -To estimate the market shares of major segments of the IoT Platform
• -To showcase the development of the IoT Platform market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the IoT Platform market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the IoT Platform
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the IoT Platform market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

𝐑𝐞𝐚𝐝 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐝𝐞𝐱 𝐨𝐟 𝐟𝐮𝐥𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐭𝐮𝐝𝐲: https://www.htfmarketintelligence.com/report/global-iot-platform-market

Major highlights from Table of Contents:
IoT Platform Market Study Coverages:
• It includes major manufacturers, emerging player's growth story, and major business segments of IoT Platform market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• IoT Platform Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• IoT Platform Market Production by Region IoT Platform Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

Key Points Covered in IoT Platform Market Report:
• IoT Platform Overview, Definition and Classification Market drivers and barriers
• IoT Platform Market Competition by Manufacturers
• Impact Analysis of COVID-19 on IoT Platform Market
• IoT Platform Capacity, Production, Revenue (Value) by Region (2023-2030)
• IoT Platform Supply (Production), Consumption, Export, Import by Region (2023-2030)
• IoT Platform Production, Revenue (Value), Price Trend by Type {Device Management, Application Management, Connectivity Management}
• IoT Platform Manufacturers Profiles/Analysis IoT Platform Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered
• How feasible is IoT Platform market for long-term investment?
• What are influencing factors driving the demand for IoT Platform near future?
• What is the impact analysis of various factors in the Global IoT Platform market growth?
• What are the recent trends in the regional market and how successful they are?

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketintelligence.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

This release was published on openPR.