IoT Platforms Market Size, Share, Leaders, Forecast, Growth, Industry Report 2026

In 2019, the global IoT Platforms market size was USD 2260.8 Million and it is expected to reach USD 13310 Million by the end of 2026, with a CAGR of 28.5% during 2021-2026.

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Global Iot Platforms Market report studies the IoT Platforms market size by players, regions, product types and end industries, history data 2013-2017 and forecast data 2018-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

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An IoT platform means cloud-based and on premise software packages and related services that enable and support sophisticated IoT services. Speak specifically, An IoT platform combines several software functions into one solution to enable companies to develop and deploy Internet of Things solutions faster, better and cheaper.

PTC (ThingWorx), Cisco (Jasper) and Microsoft captured the top three revenue share spots in the IoT Platforms market in 2016. PTC (ThingWorx) dominated with 7.92% revenue share, followed by Cisco (Jasper) with 7.44% revenue share and Microsoft with 4.77% revenue share.

Despite the presence of competition problems, due to the clear global recovery trend, investors are still optimistic about this area, increasingly complex IoT solutions require more advanced communication platforms and middleware that facilitate seamless integration of devices, networks and applications. There is a wide range of software platforms developed for the purpose of supporting and enabling IoT solutions. The intention is to enable rapid development and lower costs by offering standardised components that can be shared across multiple solutions in many industry verticals, in future still more new investment will enter into the field. Technology and cost are two major problems.

IOT PLATFORMS MARKET SEGMENT BY REGIONS/COUNTRIES

o North America
o Europe
o China
o Rest of Asia Pacific
o Central & South America
o Middle East & Africa

IOT PLATFORMS MARKET SEGMENT BY TYPE

o Consumer IoT
o Business IoT

IOT PLATFORMS MARKET SEGMENT BY APPLICATION

o Home Automation
o Wearable Technology
o Smart City
o Industrial Automation
o Connected Transportation
o Healthcare
o Others

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