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Subject: MRR

IoT Platform Market: USD 1.25 billion Growth from 2020 to 2025, Moderately Intense Rivalry Among Vendors - Technavio


NEW YORK, July 25, 2022 /PRNewswire/ -- IoT is a network of physical devices, machines, and sensors that are integrated into everyday objects connected to the Internet for effective data communications. It enhances operational efficiency by increasing the speed of communications over the existing infrastructure and, in turn, improves business productivity in any industrial setup.

Technavio estimates that the IoT platform market size is expected to grow by USD 1.25 billion from 2020 to 2025. The growth momentum of the market will accelerate at a CAGR of 26.67% during the forecast period.

Get a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format

Porter's Five Forces Analysis

The global IoT platform market has numerous global and regional players. Players compete on the basis of solution architecture, functionality, and price. However, as the exit barriers are high, vendors find it challenging to leave the IoT industry in case of a loss. Setting up and operating IoT platform companies require significant capital and high fixed costs, which increase rivalry among vendors. Moreover, buyers incur a moderate cost while switching between vendors. The market is growing at a significant rate and offers equal opportunities to vendors. These factors stabilize rivalry in the market. Hence, the threat of rivalry was high in 2020 and is expected to remain the same during the forecast period.

Vendor Landscape

The global IoT platform market has numerous small, large, and medium-sized manufacturers. A majority of the large and established players have extensive sales and distribution networks across the world, while most small players are concentrated in regional markets. Vendors compete based on parameters such as price, R&D, quality, technology, sensitivity, innovations, marketing strategies, brand identity, market expansion, investments, and distribution networks. Key vendors operating in the market are Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc. (Cisco Systems), International Business Machines Corp., Microsoft Corp., Nokia Corp., Siemens AG, Huawei Investment and Holding Co. Ltd., and Intel Corp. Other vendors operating in the market are Axiros GMBH, Davra, Echelon Solutions Group, General Electric Co., PTC Inc., Salesforce.com Inc., SAP SE., and Wipro Ltd. The rivalry among these vendors is moderately intense. Therefore, vendors opt for pricing and marketing strategies to retain their existing market shares and make use of new market opportunities.

The report provides a full list of key vendors, their strategies, and the latest developments. Request a PDF Sample Now 

Market Segmentation

The IoT platform market has been segmented by end-user into manufacturing, retail, healthcare, ICT, and others. Among these, the manufacturing segment will account for the highest market growth. These advertisements have a stronger audio-visual effect, which gives viewers a positive product impression. Manufacturers use IoT to enhance their business productivity and gain a competitive advantage. 

By geography, the market has been segmented into North America, Europe, APAC, South America, and the Middle East and Africa. APAC will have the highest market growth during the forecast period. The increase in investments in infrastructure development by governments in India, China, and the Philippines and the modernization of local businesses have increased the adoption of IoT.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

Key Drivers and Trends

The large-scale benefits of using IoT devices are driving the growth of the IoT platform market. Many organizations, industries, and technologists are adopting IoT. IoT provides advantages such as high convenience, improvement in quality of life, and remote access. Consumers are purchasing more devices that are connected to each other over the IoT network and share information.

The growing demand for smart homes is a key market trend in the IoT platform market. Smart home technologies can be used in homes to connect appliances such as heating modules, lighting systems, air conditioning units, computers, television sets, entertainment systems, security devices, and camera systems, with the help of a smartphone or tablet. In addition, governments are developing their urban infrastructure by integrating multiple information and technology solutions.

Apart from the growing popularity of gaming among women, many other trends are also shaping the future of the market. View PDF Sample Report to learn about these trends

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IoT Platform Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 26.67%

Market growth 2021-2025

USD 1.25 billion

Market structure

Fragmented

YoY growth (%)

24.23

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Germany, Japan, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Huawei Investment and Holding Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nokia Corp., and Siemens AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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