IoT Platform Market to grow by USD 16,010.78 million from 2022 to 2027|Large-scale facilities that use IoT devices to boost the market- Technavio

NEW YORK, July 10, 2023 /PRNewswire/ -- The IoT platform market size is estimated to grow by USD 16,010.78 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 24.77% during the forecast period. The growth momentum will progress. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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IoT Platform Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (manufacturing, retail, healthcare, ICT, and others), deployment (public cloud, private cloud, and hybrid)

• The market share growth by the manufacturing segment will be significant during the forecast period. Manufacturers use IoT technology to improve business productivity and gain a competitive edge. Furthermore, by connecting machines and devices to the Internet through software, data is generated, providing valuable insights into the production process. These insights are then utilized for predictive maintenance and optimizing the performance of the factory floor. Hence, these factors are expected to drive the growth of the manufacturing segment in the market during the forecast period.

Geography Overview
The global IoT platform market is segmented by geography into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the IoT platform market.

North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 34%. The key factor driving the growth in the region is the rapid expansion of the industrial, automotive, and healthcare sectors. These industries are adopting IoT technologies to enhance operational efficiency and gain a competitive edge in the market. Furthermore, the leading vendors are expanding their operations within the region. Hence, these factors are expected to drive growth in the region during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

IoT Platform Market – Market Dynamics
Key Drivers

Large-scale facilities using IoT devices are a key factor driving market growth. IoT devices use sensors and actuators to collect and transmit data to a centralized location in real-time. This connected environment provided by IoT enables end-users to make informed decisions. The adoption of IoT devices is increasing across various domains, including consumer electronics, automotive, and medical sectors. IoT helps the connection of essential electronic products and devices such as cars, TVs, laptops, coffee makers, automated door locks, mobile phones, and even entire industrial process control systems to the Internet. Hence, these factors will drive market growth during the forecast period.

Major Trends

The development of open Wi-Fi networks is an emerging market trend. OpenWireless.org has developed software that enables the use of unused bandwidth by sharing it. Furthermore, startups can leverage open-source devices created through this project, allowing access to open networks without disclosing location and communication data to phone companies. These devices have the capability to seamlessly switch between open wireless networks without revealing specific details about the user's activities.

Significant Challenges

The rise in privacy and security issues is a major challenge restricting market growth. The primary concern for both individual consumers and enterprises investing in IoT devices is security. The significant challenge is the impact of cybersecurity attacks or unauthorized access by hackers. For example, in the US, a refrigerator was hacked, resulting in the compromise of email accounts and credentials of the owners and affecting over 1,000 other connected devices. Hence, these factors are expected to restrict market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this IoT Platform Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the IoT platform market between 2023 and 2027
• Precise estimation of the size of the IoT platform market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the IoT platform market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of IoT platform market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global IoT platform market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global IoT platform market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Manufacturing - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 6.4 Retail - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 6.5 Healthcare - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)

• 6.6 ICT - Market size and forecast 2022-2027 
• Exhibit 46: Chart on ICT - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on ICT - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on ICT - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on ICT - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 55: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 57: Chart on Comparison by Deployment
• Exhibit 58: Data Table on Comparison by Deployment

• 7.3 Public cloud - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Public cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Public cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Public cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Public cloud - Year-over-year growth 2022-2027 (%)

• 7.4 Private cloud - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Private cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Private cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Private cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Private cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Hybrid - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Hybrid - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Hybrid - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Hybrid - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Hybrid - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Deployment 
• Exhibit 71: Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 93: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 101: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 113: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 114: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 115: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 Accenture Plc
• Exhibit 124: Accenture Plc - Overview
• Exhibit 125: Accenture Plc - Business segments
• Exhibit 126: Accenture Plc - Key news
• Exhibit 127: Accenture Plc - Key offerings
• Exhibit 128: Accenture Plc - Segment focus

• 12.4 Alphabet Inc.
• Exhibit 129: Alphabet Inc. - Overview
• Exhibit 130: Alphabet Inc. - Business segments
• Exhibit 131: Alphabet Inc. - Key news
• Exhibit 132: Alphabet Inc. - Key offerings
• Exhibit 133: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc.
• Exhibit 134: Amazon.com Inc. - Overview
• Exhibit 135: Amazon.com Inc. - Business segments
• Exhibit 136: Amazon.com Inc. - Key news
• Exhibit 137: Amazon.com Inc. - Key offerings
• Exhibit 138: Amazon.com Inc. - Segment focus

• 12.6 AT and T Inc.
• Exhibit 139: AT and T Inc. - Overview
• Exhibit 140: AT and T Inc. - Business segments
• Exhibit 141: AT and T Inc. - Key offerings
• Exhibit 142: AT and T Inc. - Segment focus

• 12.7 Cisco Systems Inc.
• Exhibit 143: Cisco Systems Inc. - Overview
• Exhibit 144: Cisco Systems Inc. - Business segments
• Exhibit 145: Cisco Systems Inc. - Key news
• Exhibit 146: Cisco Systems Inc. - Key offerings
• Exhibit 147: Cisco Systems Inc. - Segment focus

• 12.8 General Electric Co.
• Exhibit 148: General Electric Co. - Overview
• Exhibit 149: General Electric Co. - Business segments
• Exhibit 150: General Electric Co. - Key news
• Exhibit 151: General Electric Co. - Key offerings
• Exhibit 152: General Electric Co. - Segment focus

• 12.9 Huawei Technologies Co. Ltd. 
• Exhibit 153: Huawei Technologies Co. Ltd. - Overview
• Exhibit 154: Huawei Technologies Co. Ltd. - Business segments
• Exhibit 155: Huawei Technologies Co. Ltd. - Key offerings
• Exhibit 156: Huawei Technologies Co. Ltd. - Segment focus

• 12.10 Intel Corp.
• Exhibit 157: Intel Corp. - Overview
• Exhibit 158: Intel Corp. - Business segments
• Exhibit 159: Intel Corp. - Key news
• Exhibit 160: Intel Corp. - Key offerings
• Exhibit 161: Intel Corp. - Segment focus

• 12.11 International Business Machines Corp. 
• Exhibit 162: International Business Machines Corp. - Overview
• Exhibit 163: International Business Machines Corp. - Business segments
• Exhibit 164: International Business Machines Corp. - Key offerings
• Exhibit 165: International Business Machines Corp. - Segment focus

• 12.12 Microsoft Corp.
• Exhibit 166: Microsoft Corp. - Overview
• Exhibit 167: Microsoft Corp. - Business segments
• Exhibit 168: Microsoft Corp. - Key news
• Exhibit 169: Microsoft Corp. - Key offerings
• Exhibit 170: Microsoft Corp. - Segment focus

• 12.13 Nokia Corp.
• Exhibit 171: Nokia Corp. - Overview
• Exhibit 172: Nokia Corp. - Business segments
• Exhibit 173: Nokia Corp. - Key offerings
• Exhibit 174: Nokia Corp. - Segment focus

• 12.14 Salesforce.com Inc.
• Exhibit 175: Salesforce.com Inc. - Overview
• Exhibit 176: Salesforce.com Inc. - Product / Service
• Exhibit 177: Salesforce.com Inc. - Key news
• Exhibit 178: Salesforce.com Inc. - Key offerings

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 179: Samsung Electronics Co. Ltd. - Overview
• Exhibit 180: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 181: Samsung Electronics Co. Ltd. - Key news
• Exhibit 182: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 183: Samsung Electronics Co. Ltd. - Segment focus

• 12.16 SAP SE
• Exhibit 184: SAP SE - Overview
• Exhibit 185: SAP SE - Business segments
• Exhibit 186: SAP SE - Key news
• Exhibit 187: SAP SE - Key offerings
• Exhibit 188: SAP SE - Segment focus

• 12.17 Siemens AG
• Exhibit 189: Siemens AG - Overview
• Exhibit 190: Siemens AG - Business segments
• Exhibit 191: Siemens AG - Key news
• Exhibit 192: Siemens AG - Key offerings
• Exhibit 193: Siemens AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 194: Inclusions checklist
• Exhibit 195: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 196: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 197: Research methodology
• Exhibit 198: Validation techniques employed for market sizing
• Exhibit 199: Information sources

• 13.5 List of abbreviations
• Exhibit 200: List of abbreviations

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 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.

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