Press release
Global IoT Connectivity Management Platform Market to Reach $21.79 Billion by 2029, Growing at 20.8% CAGR
IoT Connectivity Management Platform Market Size
The widespread use of IoT devices plays a crucial role in the expansion of the IoT connectivity management platform market. An IoT connectivity management platform interconnects the multitude of IoT devices within a business for data administration, data transmission, communication, and seamless functioning of numerous devices under a single network framework to carry out a range of business operations. This platform provides rapid network monitoring, troubleshooting, application management, reduced security threats, and other associated services to the IoT devices that are connected. For instance, Forbes, a US-based business magazine, has predicted that the worldwide count of cellular IoT devices will hit 3.5 billion by 2023. Therefore, the escalating deployment of IoT devices is notably impacting the growth of the IoT connectivity management platform market.
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What is the projected compound annual growth rate (CAGR) of the iot connectivity management platform market from 2025 to 2034, and what factors influence it?
The market size of the IoT connectivity management platform has witnessed robust growth of late. The market's growth is predicted to jump from $8.88 billion in 2024 to $10.24 billion in 2025, representing a compound annual growth rate (CAGR) of 15.4%. The growth detected in the historical period can be ascribed to the widespread use of IoT devices, international expansion of IoT deployments, evolution of network standards, increasing intricacy of IoT ecosystems, security issues, and the need for cost-efficiency.
The market size of the IoT connectivity management platform is predicted to witness remarkable growth in the upcoming years, reaching an impressive figure of $21.79 billion in 2029 with a compound annual growth rate (CAGR) of 20.8%. Several factors like the adoption and integration of 5G, incorporation of edge computing, varied connectivity protocols, and emphasis on low-power IoT devices contribute to this growth during the predicted period. Key trends during this forecast period would be the cross-sector collaboration, changes in regulatory environment, management and lifecycle support for IoT devices, and solutions for billing and monetization.
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How are the latest trends influencing the growth of the iot connectivity management platform market?
Significant players in the IoT connectivity management platform market are focusing on the creation of innovative IoT connectivity management technologies, such as next-generation IoT connectivity management platforms, to improve monitoring and boost their market profits. A next-gen IoT Connectivity Management Platform is a sophisticated system crafted for the oversight and control of IoT devices and their network connections. To illustrate, in December 2023, TEAL, a company specializing in eSIM technology based in the US, unveiled Aurora, their advanced IoT Connectivity Management Platform (CMP). Aurora provides a full range of features, including an App Marketplace for Networks with connections to over 3,500 worldwide data networks. Users can seamlessly integrate new networks, interchange between existing networks, monitor data usage, and check the status of devices. Which include key features like eUICC health data and comprehensive SMSR data integration, Aurora offers detailed insight and control over eSIM functionalities in operation. Aurora enables remote supervision of TEAL eSIM network usage and operational status globally, thus improving the way devices are deployed and managed.
What are the major segments of the iot connectivity management platform market and their role in driving growth?
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
Subsegments:
1) By Cellular: 2G Or 3G Or 4G Or 5G Connectivity, Narrowband IoT (NB-IoT), Long-Term Evolution For Machines (LTE-M)
2) By Non-Cellular: Wi-Fi, Bluetooth, LoRaWAN (Long Range Wide Area Network), Zigbee, Satellite Connectivity
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Which regions are key players in the growth of the iot connectivity management platform market?
Asia-Pacific was the largest region in the IoT connectivity management platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT connectivity management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the iot connectivity management platform market?
Major companies operating in the IoT connectivity management platform market include 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, Tata Communications Limited, PTC Inc., Software AG, Comarch SA, KORE Group Holdings Inc., Aeris Communications Inc., Emnify Ltd., Truphone Limited, Sierra Wireless Inc.
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What Is Covered In The IoT Connectivity Management Platform Global Market Report?
•Market Size Forecast: Examine the iot connectivity management platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the iot connectivity management platform market for a structured understanding.
•Key Players Overview: Analyze major players in the iot connectivity management platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the iot connectivity management platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the iot connectivity management platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the iot connectivity management platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the iot connectivity management platform market.
•Competitive Landscape: Review strategic developments in the iot connectivity management platform market, including expansions, agreements, and new product launches.
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