DUBLIN--(BUSINESS WIRE)--The "IoT Middleware Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for IoT middleware was valued at USD 7.71billion in 2019, and it is expected to reach a value of USD 22.36 billion by 2025, registering a CAGR of 19.72% over the forecast period, 2020 - 2025.
The emerging applications and business models coupled with the falling device costs have been instrumental in driving IoT adoption and, consequently, the number of connected devices - connected cars, machines, meters, wearable, and consumer electronics.
Companies Mentioned
- Cisco Systems Inc.
- IBM Corp. (Red Hat Inc.)
- Oracle Corporation
- ClearBlade Inc.
- PTC Inc.
- Arrayent Inc.
- Axiros GmbH
- Davra Networks
- Amazon Web Services Inc.
- Bosch.IO GmbH
- MuleSoft LLC (Salesforce Company)
Key Market Trends
Manufacturing Expected to Have the High Potential Growth
Industry 4.0 and the Internet of Things (IoT) are at the center of new technological approaches, development, and production. The growing acceptance of industrial 4.0 has buoyed IoT in manufacturing. The increasing number of machines to machine connections and the growing need for factory efficiency on the floor and the field. The role of IoT has been significant particular for manufacturing companies that have adopted automated solutions.
- IoT Middleware can implement IoT-based virtual manufacturing applications as well as IoT-based factory automation, which is encouraging manufacturers to deploy IoT devices in key manufacturing establishments.
- Another factor driving the market growth is the advantage of IoT in attaining "informed" manufacturing. IoT middleware enables four essential elements of manufacturing - Products, People, Processes, and Infrastructure to work seamlessly.
- Innovations by companies are also helping shape the competitive landscape. For instance, in September 2019, Hitachi Vantara released Lumada Manufacturing Insights, a suite of Industrial IoT solutions that empower the manufacturing industry to achieve transformative outcomes from data-driven insights. It uses AI and machine learning to optimize machine production.
- Also, a significant consideration while aiming for the manufacturing industry is the promotion of flexibility through open architectures that support customization and streamlined software upgrades across multiple devices. Therefore, this segment is expected to benefit from the rapid emergence of Open-source IoT middleware developments.
North America Holds Major Share
North America is expected to be a prominent market due to the growing role of IoT among the significant revenue-generating end-user industries of the region, driven by the deployment of connected cars, smart energy projects, home automation, and focus on smart manufacturing. The US and Canada are the early adopters of technologies, such as Big Data, IoT, and mobility, and it creates significant growth opportunities for the IoT middleware market.
- The United States is on the verge of the fourth industrial revolution. Data is being used on a large scale for production while integrating it with a wide variety of manufacturing systems throughout the supply chain. Therefore, the emergence of information technology and the increased usage of IoT across a wide range of manufacturing, industrial, and automotive applications, have added a new dimension to conducting business operations.
- Manufacturers in the region rely on IIoT platforms for general process optimization, dashboards and visualization, and condition monitoring. SMEs are becoming increasingly flexible in incorporating new technologies with their existing systems, whereas large manufacturers have massive budgets for digitization.
- Another significant driver is the prevalence of an environment of increasing input, labor cost, and competition from the large global manufacturers, which is expected to attract investment in technologies such as IoT to remain competitive and maintain the operating margins.
- Aiding this trend is the formation of the "Advanced Manufacturing Partnership (AMP) 2.0," an initiative undertaken to make the industry, universities. The federal government is investing in emerging technologies and smart manufacturing initiatives, such as the Smart Manufacturing Leadership Coalition (SMLC), to drive and facilitate the broad adoption of manufacturing intelligence.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Assessment of COVID-19 Impact on the IoT Middleware Ecosystem
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Developments Across Open-source Platforms
5.1.2 Increasing M2M Communications)
5.2 Market Restraints
5.2.1 Complex Technologies Pertaining to the Development of IoT Middleware
5.3 Analysis of IoT Middleware Applications
5.3.1 Application Management
5.3.2 Data Management
5.3.3 Other Applications
6 MARKET SEGMENTATION
6.1 By Platform
6.1.1 Application Enablement
6.1.2 Device Management
6.1.3 Connectivity Management
6.2 By End-user Industry
6.2.1 Manufacturing
6.2.2 Healthcare
6.2.3 Energy and Utilities
6.2.4 Transportation and Logistics
6.2.5 Agriculture
6.2.6 Other End-user Industries
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/h8hm3m
