Platforms and Software – 3rd Edition” report has been added to ResearchAndMarkets.com’s
This new study analyses the latest developments on the IoT connectivity
management, device management and application enablement platform
markets. It is estimated that total revenues for third party IoT
platforms will grow at a compound annual growth rate (CAGR) of 31.7
percent from 1.78 billion in 2017 to 7.05 billion in 2022.
According to this new research report, the global market for IoT device
management and application enablement platforms reached US$ 1.1 billion
in 2017. Growing at a compound annual growth rate (CAGR) of 36.2
percent, the total market value is expected to reach US$ 4.9 billion in
IoT platforms provide middleware to connect and manage devices and
integrate collected data into various applications and services. These
platforms are intended to reduce the cost and development time for IoT
solutions by providing standardised components that enterprises can
The IoT platform market is notably crowded and hosts a multitude of
players spanning from small start-ups to major companies in the
technology and industrial sectors. These companies have developed
offerings that typically have a specific focus on a set of capabilities,
often related to their core businesses.
GE and PTC spearheaded the effort of promoting IoT in the industrial
sector on a broader scale. While GE has shifted focus to mainly provide
solutions rather than its Predix platform alone, PTC has emerged as the
leader in the space.
Software AG’s Cumulocity IoT business and the wireless IoT module vendor
Telit have also built strong positions in the industrial sector.
Software AG’s platform has for example been selected by Siemens to
complement its IoT operating system MindSphere.
Telit holds a strategic partnership with Wind River that leverages
Telit’s technology in its Helix Device Cloud.
Additional providers with high involvement in the industrial sector
include Bosch, IBM, SAP, Oracle, Exosite, Device Insight and Altair
In 2017-2018, the major cloud infrastructure vendors Amazon, Microsoft
and Google continued to invest heavily in their IoT offerings to drive
growth in their cloud businesses. The involvement of the cloud
infrastructure providers will over time lead to commoditisation of some
services currently offered by vendors in the IoT platform market and
result in further specialisation of IoT platform providers.
Merger and acquisition activity has risen sharply in recent time and the
market has now entered a consolidation phase. Some level of
fragmentation in the market is expected to remain due to lack of
standards, but also due to specific requirements in industries
characterised by mission critical applications such as automotive,
healthcare and manufacturing, as well as in the critical infrastructure
Key Topics Covered
1 The IoT Technology Stack
2 Market Forecasts and Trends
3 Connectivity Management Platforms
4 Device Management Platforms
5 Application Enablement Platforms
For more information about this report visit https://www.researchandmarkets.com/research/dz95w8/iot_platforms_and?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20180618006038/en/