Global IoT Middleware Market is expected to foresee significant growth. APAC to grow at a significant CAGR!

Global IoT Middleware Market is expected to grow at a significant rate of around 19% during the forecast period (2022-2028F). The global IoT middleware market is anticipated to witness an uptick with the increasing development of high-speed network technologies and the rising government investments and initiatives in projects like smart cities & automation are also fueling the market growth. IoT middleware is defined as software that acts as an interface between IoT components. It helps establish communication between IoT components. By establishing communication between IoT middleware and machine programs, machines, components, and hardware can be connected to IoT networks using IoT middleware. Furthermore, according to the GSM Association, IoT connections will reach almost 25 billion globally by 2025, up from 10.3 billion in 2018, which is further contributing to the growth of this market. Moreover, the absence of uniform IoT standards and concerns over data security and privacy are the major factors among others restraining the market growth.

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Based on platform type, the market is classified into device management, application management, and connectivity management. The connectivity management is expected to witness a robust CAGR during the forecast period. This is because the IoT connectivity management platform helps in reducing the operational workload for organizations deploying and scaling their IoT with a managed cellular connectivity service.

Based on organization size, the market is divided into large enterprises and SMEs. The large enterprises held a significant share of the global IoT middleware market in 2020 mainly owing to the increasing uses of IoT among large enterprises. IoT helps enterprises in many ways such as inventory management, asset tracking, creating new product lines, cost cutting, real-time insights on the move, and others.

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For a better understanding of the market adoption of the IoT middleware industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC held a prominent share of the market and is further expected to grow at an influential growth rate. This is mainly due to growing awareness of increasing business productivity, complemented by well-designed IoT middleware platforms offered by vendors based in the region. Moreover, the presence of rapidly growing economies such as China and India is another factor contributing to the growth of the IoT middleware market in the region.

Some of the major players operating in the market are Microsoft Corporation, International Business Machines Corporation, Amazon.com Inc., SAP SE, PTC Inc., Cisco Systems Inc., Google LLC, Hewlett Packard Enterprises, Robert Bosch GmbH, and Oracle Corporation.

Global IoT Middleware Market Segmentation

Market Insight, by Platform Type

• Device Management
• Application Management
• Connectivity Management

Market Insight, by Organization Size

• Large Enterprises
• SMEs

Market Insight, by Industry

• Manufacturing
• Government
• Transportation
• Healthcare
• Others

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• Microsoft Corporation
• International Business Machines Corporation
• Amazon.com Inc.
• SAP SE
• PTC Inc.
• Cisco Systems Inc.
• Google LLC
• Hewlett Packard Enterprises
• Robert Bosch GmbH
• Oracle Corporation