IoT Middleware Market Growing at a CAGR 19.7% | Key Player IBM, Microsoft, AWS, SAP, PTC

August 07 20:18 2020
IoT Middleware Market Growing at a CAGR 19.7% | Key Player IBM, Microsoft, AWS, SAP, PTC

IBM (US), Microsoft(US), AWS (US), SAP (Germany), PTC (US), Cisco (US), Google (US), Hitachi (Japan), HPE (US), Bosch (Germany), Oracle (US), Salesforce (US), GE (US), Schneider Electric (US), ClearBlade(US), Davra (US), MuleSoft (US), Axiros (Germany), TIBCO Software (US), Siemens (Germany), Eurotech (Italy), Flutura (US), Litmus Automation (US)
IoT Middleware Market by Platform Type (Device, Application, and Connectivity Management), Organization Size (Large Enterprises and SMES), Vertical (Manufacturing, Government & Defense, Automotive & Transportation), and Region – Global Forecast to 2025

The global IoT Middleware Market size is expected to grow from USD 10.1 billion in 2020 to USD 25.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period. The major driving factors in the IoT middleware industry are evolution of high-speed network technologies and growing need for centralized monitoring

Increasing use of embedded sensors, and availability of fast cellular networks LTA and 3G driving the adoption of IoT middleware platforms in healthcare vertical during the forecast period

Connectivity between sensors and devices enables healthcare organizations to streamline their clinical operations and manage workflows, and aid in real-time patient care, even from remote locations. Hence, healthcare organizations are focusing on implementing robust applications and connected technologies. Some of the new IoT enabled solutions for the healthcare industry are remote patient monitoring, healthcare workflow management, medication management, and medical asset tracking. Organizations are getting involved in this vertical because of the significant knowledge and experience they share over communication infrastructure, which is essential for M2M communication.

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Rising need to manage, secure, and track devices in an organization to drive the demand for device management platform segment to hold a larger market size

The IoT middleware market, covers platform types such as device management, application management, and network management. The device management platform provides capabilities such as provisioning and authentication, configuration and control, monitoring and diagnostics, software updates, and maintenance. Furthermore, the device management platform is instrumental in offering advanced features, such as activation certification, configuration, device monitoring, troubleshooting, and service and device enablement. Device management platforms assist organizations in effectively managing and tracking, and securing the devices used in the organization. With the help of these platforms, organizations can proactively and remotely monitor and configure their smart devices and other hardware and software solutions as soon as their devices and processes are connected.

The major IoT middleware vendors include IBM (US), Microsoft(US), AWS (US), SAP (Germany), PTC (US), Cisco (US), Google (US), Hitachi (Japan), HPE (US), Bosch (Germany), Oracle (US), Salesforce (US), GE (US), Schneider Electric (US), ClearBlade(US), Davra (US), MuleSoft (US), Axiros (Germany), TIBCO Software (US), Siemens (Germany), Eurotech (Italy), Flutura (US), Litmus Automation (US), Ayla Networks (US), Aeris (US), QiO Technologies (UK), Atos (France), and Exosite (US). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to further expand their presence in the global IoT middleware market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2017 to 2020, which has helped them innovate on their offerings and broaden their customer base.

Microsoft was founded in 1975 and is headquartered in Washington, US. The company generates revenue by licensing and supporting a range of software products, and offering a series of cloud-based and other services to customers across the globe. It operates through 3 business segments, namely, productivity and business processes, more personal computing, and intelligent cloud. It believes cybersecurity is a challenge in the digital age, and therefore, focuses on innovating solutions to provide end-to-end security to customers with security operations at a global scale. In the IoT middleware market, the company offers Microsoft Azure IoT platform to accelerate business transformation with the help of the IoT technology. This platform reduces complexities, lowers costs, and speeds up business processes. It offers IoT services and solutions, such as remote monitoring, predictive maintenance, smart spaces, and connected products. It improves customers’ business processes using sensors and advanced analytics to predict needed maintenance and reduce unplanned downtime cutting into production time. The company caters its Azure IoT platform to various industry verticals, including manufacturing, transportation, smart spaces, retail, healthcare, and natural resources.

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IBM was founded in 1911 and is headquartered in New York, US. The company operates through 5 business segments, namely, cognitive solutions, global business services, technology services and cloud platforms, global financing, and others. It offers industry solutions, system services, IT infrastructure, resiliency services, and financing. IBM’s Watson IoT platform is widely used by its commercial clients for deploying their IoT solutions. Its Cloud platform helps developers integrate IoT data and deploy IoT applications. Its predictive maintenance and quality software help in monitoring, maintaining, and optimizing the assets, operations, and supply chains of IoT customers. In addition to this, the company provides embedded software development for IoT and systems engineering, smart and connected products, and its commercial clients. Furthermore, it offers facilities management, enterprise asset management, and system engineering solutions to the IoT space.

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