Global IoT Middle Ware Market - Segmented by Application, Platform, End-user Industry (Manufacturing, Healthcare, Energy and Utilities, Transportation and Logistics, Agriculture), and Region - Growth, Trends, and Forecast (2022 - 2030)
The global IoT middle ware market was valued at USD 5.40 billion in 2017, and is expected to reach a value of USD 15.65 billion by 2023 at a CAGR of 19.40%, during the forecast period (2018 - 2023). This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the IoT middle ware market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
The major driver for the global IoT middle ware market is the rise of the cloud computing models in the industries, and the private and government organizations for optimizing operational capabilities of traditional devices. Increasing expenditure by the consumer class, in goods and services, that require IoT components and devices, is also expected to facilitate the growth of the global IoT middle ware market.
Cloud Computing Models to Drive the Market
The new wave of communication and applications rely on solutions provided by IoT, which is becoming an important aspect in the future of machines. At a time where huge amount of data is regularly generated, its storage and management is a challenge. In order to tackle some of these issues, cloud computing emerged to IoT as Cloud of Things (CoT), which provides virtually unlimited cloud services to enhance the large-scale IoT platforms. The heterogeneity of different objects is one of the problems in the implementation of CoT platforms. This problem can be addressed by the deployment of appropriate middleware, which acts as a communication platform among components with different interfaces. Hence, a rise in the cloud computing is expected to drive the IoT middleware market.
Manufacturing Expected to Have the Largest Market Share
The manufacturing industry is anticipated to have a high growth potential. IoT enables manufacturers to connect machinery and control systems together, allowing them to get deep insight into the manufacturing process. By connecting devices and processes together, manufacturers can enable workflow automation to optimize production processes without much human intervention. The meticulous workflow of an entire manufacturing process requires smart support systems, which can organize different processes and optimize the output efficiently. Science and technology have always played a part in it and the emergence of better IoT solutions have brought a number of reforms to the manufacturing sector.
North America Holds the Largest Market Share
North America, owing to established and developed economies, like the United States and Canada, is poised to be the fastest-growing region in the global market, followed by Asia-Pacific. The United States is expected to dominate the market in North America. Increasing adoption of IoT in energy & utility, automotive, and healthcare industries facilitates the growth of the IoT middleware market. Moreover, the adoption of concepts, such as Industry 4.0, in the production and manufacturing industry is expected to promote the growth of the IoT middleware market in this region.
Key Developments in the Market
• February 2018 - Oracle expanded its Cloud Platform Autonomous Services beyond the Oracle Autonomous Database, which was introduced last October (adding AI, Machine Learning). With its enhanced suite of autonomous Cloud Platform services, the company is keen in applying AI and machine learning to its entire next-generation Cloud Platform services to help customers lower cost, reduce risk, accelerate innovation, and get predictive insights
• November 2017 - Cisco and INTERPOL agreed to share threat intelligence as a first step in fighting cybercrimes jointly. This alliance is expected to witness two organizations develop a coordinated and focused approach towards sharing data
The major players include - CISCO SYSTEMS INC., RED HAT, INC., ORACLE CORPORATION, CLEARBLADE, INC., PTC, INC., ARRAYENT, INC., CLEARBLADE INC., AXIROS, DAVRA NETWORKS, AMAZON WEB SERVICES, and INC. (2LEMETRY), amongst others.
Reasons to Purchase this Report
• Current and future IoT middle ware market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
The major driver for the global IoT middle ware market is the rise of the cloud computing models in the industries, and the private and government organizations for optimizing operational capabilities of traditional devices. Increasing expenditure by the consumer class, in goods and services, that require IoT components and devices, is also expected to facilitate the growth of the global IoT middle ware market.
Cloud Computing Models to Drive the Market
The new wave of communication and applications rely on solutions provided by IoT, which is becoming an important aspect in the future of machines. At a time where huge amount of data is regularly generated, its storage and management is a challenge. In order to tackle some of these issues, cloud computing emerged to IoT as Cloud of Things (CoT), which provides virtually unlimited cloud services to enhance the large-scale IoT platforms. The heterogeneity of different objects is one of the problems in the implementation of CoT platforms. This problem can be addressed by the deployment of appropriate middleware, which acts as a communication platform among components with different interfaces. Hence, a rise in the cloud computing is expected to drive the IoT middleware market.
Manufacturing Expected to Have the Largest Market Share
The manufacturing industry is anticipated to have a high growth potential. IoT enables manufacturers to connect machinery and control systems together, allowing them to get deep insight into the manufacturing process. By connecting devices and processes together, manufacturers can enable workflow automation to optimize production processes without much human intervention. The meticulous workflow of an entire manufacturing process requires smart support systems, which can organize different processes and optimize the output efficiently. Science and technology have always played a part in it and the emergence of better IoT solutions have brought a number of reforms to the manufacturing sector.
North America Holds the Largest Market Share
North America, owing to established and developed economies, like the United States and Canada, is poised to be the fastest-growing region in the global market, followed by Asia-Pacific. The United States is expected to dominate the market in North America. Increasing adoption of IoT in energy & utility, automotive, and healthcare industries facilitates the growth of the IoT middleware market. Moreover, the adoption of concepts, such as Industry 4.0, in the production and manufacturing industry is expected to promote the growth of the IoT middleware market in this region.
Key Developments in the Market
• February 2018 - Oracle expanded its Cloud Platform Autonomous Services beyond the Oracle Autonomous Database, which was introduced last October (adding AI, Machine Learning). With its enhanced suite of autonomous Cloud Platform services, the company is keen in applying AI and machine learning to its entire next-generation Cloud Platform services to help customers lower cost, reduce risk, accelerate innovation, and get predictive insights
• November 2017 - Cisco and INTERPOL agreed to share threat intelligence as a first step in fighting cybercrimes jointly. This alliance is expected to witness two organizations develop a coordinated and focused approach towards sharing data
The major players include - CISCO SYSTEMS INC., RED HAT, INC., ORACLE CORPORATION, CLEARBLADE, INC., PTC, INC., ARRAYENT, INC., CLEARBLADE INC., AXIROS, DAVRA NETWORKS, AMAZON WEB SERVICES, and INC. (2LEMETRY), amongst others.
Reasons to Purchase this Report
• Current and future IoT middle ware market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identifying the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
Frequently Asked Questions
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