Global IoT Middleware Market was valued at US$ 5.3Bn in 2019 and is expected to reach US$ 27.2Bn by 2027, at a CAGR of 22.68% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global IoT Middleware Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global IoT Middleware Market.
The IoT middleware is a software used as an interface among the components of IoT. It aids establish communication between IoT components. Components, machines and hardware can be connected to the IoT network with the assist of IoT middleware by establishing communication between IoT middleware and the machine program.
Major growth factors for the global IoT middleware market include integrating operations technology and IT, increasing the need for centralized monitoring, increased adoption of cloud, and evolution of high network technologies. However, concerns relating to integration with legacy systems, the absence of uniform IoT standards, and lack of interoperability could restrain the IoT middleware market growth.
The IoT middleware market presents significant opportunities for system integrators owing to the increasing adoption of the connected devices across many vertical-specific applications, such as connected cars, smart cities, connected logistics, smart healthcare, intelligent utilities, and connected workforce. Moreover, increasing penetration of the internet users has improved the adoption of connected and smart devices and today’s Internet Protocol (IP) standard, IPv4 is restrained in its capacity to accommodate such huge number of devices due to limited availability of addresses.
The large enterprise’s segment is expected to have the largest market size in the Global IoT Middleware Market, owing to their early adoption of IoT platform and high investment capabilities. Additionally, large enterprises are investing in IoT platform and associated services to cater to the dynamic customer desires, streamline business operations, and enhance the experience of the stakeholders. Furthermore, affordability of resources and high economies of scale allow these organizations to leverage the benefits of IoT platform.
North America is the dominating global IoT middleware market. The region includes the US and Canada. The US accounts for the highest market share in the IoT Middleware Market globally. The US and Canada are also the prompt adopters of trending technologies, for instance, IoT, big data, and mobility, and it would provide significant growth opportunities for IoT platform vendors.
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Scope of the Global IoT Middleware Market
Global IoT Middleware Market, by Platform Type
• Device Management
• Application Management
• Connectivity Management
Global IoT Middleware Market, by Organization size
• Large Enterprises
• Small and Medium-Sized Enterprises
Global IoT Middleware Market, by Vertical
• Government and Defense
• Automotive and Transportation
• Energy and Utilities
• Banking, Financial Services, and Insurance
Global IoT Middleware Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global IoT Middleware Market
• Schneider Electric
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Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
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