According to a new report by Future Market Insights (FMI), the market for IoT connection management platforms Market will develop at a CAGR of 16.8% from 2022 to 2032. According to the analysis, the market is estimated to reach a value of US$ 6.3 billion by the end of 2022. Cloud-based solutions are being used by businesses in order to improve their long-term efficiency and provide security, greater collaboration, and corporate data mobility.
Increased popularity of IoT cloud platform owing to demand for high-frequency data access and sharing with cost-effective data storage solutions is driving IoT platform implementation in areas where on-site IoT architecture deployment is too expensive.
Over a direct remote network connection, cloud solutions allow seamless communication between IoT devices, greater reach, and decreased latency.
In addition, as IoT-powered technologies become more integrated, enterprises will be able to leverage smart devices and sensors to collect and translate data into business insights more quickly and at a lower cost. Connecting cloud and IoT minimises mistakes, improves visibility, provides scalability and cost, and speeds up time to market, all of which are propelling the IoT connection platforms market forward.
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Key Takeaways:
- By component, the solution segment is anticipated to expand at a CAGR of 17.7% during the forecast period.
- Among the enterprise size, SMEs segment is estimated to grow by 5.2X during the forecast period.
- Cloud-based IoT CMS segment is expected to create an absolute $ opportunity of US$ 16.8 Bn during the forecast period.
- Based on industry, demand in the healthcare segment is anticipated to grow at a CAGR of 23.1% between 2022 & 2032.
- The market in U.K. is expected to progress at a CAGR of around 19.5% during the forecast period.
- In Japan, the IoT connectivity management platform market is expected to grow by 6.9x between 2022 & 2032.
- IoT connectivity management platform market in China is estimated to offer an absolute $ opportunity of US$ 1.3 Bn over the forecast period.
Competitive Landscape
IoT connectivity management platform players are entering into partnerships with other players for enabling enterprises to track and control the IoT assets with unified and intuitive connectivity management services. For instance:
- In Feb 2020, Ericsson collaborated with T-Mobile Austria and Stanley Black & Decker for accelerating the global deployment of Stanley Black and Decker’s connected equipment and services.
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More Valuable Insights on IoT Connectivity Management Platform Market
Future Market Insight’s report on the IoT connectivity management platform industry research is segmented into five major sections – component (solution, services), deployment (cloud-based, on premise), enterprise size (Small and medium-sized enterprises (SMEs), large enterprises), industry (IT & telecom, consumer electronics, energy & utilities, BFSI, healthcare, retail, manufacturing, government and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the IoT connectivity management platform demand outlook.
About Electronics, Semiconductor and ICT Division at Future Market Insights
Expert analysis, strategic recommendations and actionable insights- the electronics, semiconductors, and ICT team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, & ICT, of which 100+ reports are specifically on solutions, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductors, and ICT industry.
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