What Fueled IoT Connectivity Management Platform Market?
The iot connectivity management platform market has seen considerable growth due to a variety of factors.
• The market size for the IoT connectivity management platform has seen a fast-paced expansion in the last several years. The growth is predicted to continue going from $8.88 billion in 2024 to hit $10.24 billion in 2025, boasting a compound annual growth rate (CAGR) of 15.4%.
The historic growth of this market has been driven by the amplification of IoT devices, the broadening of IoT deployments globally, the evolution of network standards, the increasing intricacy of IoT ecosystems, security issues, and the rising demand for cost-effectiveness.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa IoT Connectivity Management Platform Market?
The iot connectivity management platform market is expected to maintain its strong growth trajectory in upcoming years.
• The market for IoT connectivity management platforms is anticipated to witness a significant surge in the coming years, reaching a value of $21.79 billion by the year 2029, expanding at a compound annual growth rate (CAGR) of 20.8%.
This predicted rise during the forecast period can be linked to factors such as the adoption and integration of 5G, the integration of edge computing, the focus on low-power IoT devices, and varied connectivity protocols. The major upcoming trends for this period entail cross-sector collaboration, changes in regulatory settings, support for IoT device management and lifecycle, and solutions for monetization and billing.
What Main Forces Are Fueling Expansion In The IoT Connectivity Management Platform Market?
The surge in the utilization of IoT devices is playing a significant role in propelling the IoT connectivity management platform market forward. Enterprises connect their multitude of IoT devices through such a platform, facilitating data management, transmission, communication and the seamless coordination of a myriad of devices under one framework for the network to execute various business tasks. The IoT Connectivity Management Platform provides expedited network monitoring, problem-solving, application management, reduction of security risks, among other services to connected IoT devices. As an example, Forbes, a well-reputed US-based business publication, predicts that the worldwide count of cellular IoT devices could hit 3.5 billion by 2023. As such, the escalation in the use of IoT devices is making a significant contribution to the growth of the IoT connectivity management market.
What Are The Key Segments Within The Global IoT Connectivity Management Platform Market?
The IoT connectivity management platform market covered in this report is segmented –
1) By Product Type: Cellular, Non-Cellular
2) By Component: Solution, Services
3) By Deployment Type: Cloud, On-Premises
4) By Enterprise Size: Small And Medium-sized Enterprises (SMEs), Large Enterprises
5) By Application: Automotive, Consumer Electronics, Retail, Energy And Utilities, Finance And Banking, Healthcare, Manufacturing, Other Applications
Subsegments:
1) By Cellular: 2G Or 3G Or 4G Or 5G Connectivity, Narrowband IoT (NB-IoT), Long-Term Evolution For Machines (LTE-M)
2) By Non-Cellular: Wi-Fi, Bluetooth, LoRaWAN (Long Range Wide Area Network), Zigbee, Satellite Connectivity
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How Are New Trends Impacting The Size Of The IoT Connectivity Management Platform Market?
Premier companies in the IoT connectivity management platform market are centering their efforts on developing groundbreaking IoT connectivity management such as future-forward IoT connectivity management platforms. This is aimed at optimizing monitoring and increasing their market profits. A next-generation IoT Connectivity Management Platform is a sophisticated interface constructed for IoT devices and data network connections surveillance and management. For example, In December 2023, US-based eSIM technology supplier, TEAL, released Aurora, its innovative IoT Connectivity Management Platform (CMP). Aurora provides a holistic suite of features, including a Network App Marketplace that hosts over 3,500 global data networks. Users have the convenience to install new or shift among current networks, keep track of data usage and oversee the device status. It features critical attributes like eUICC health data and comprehensive SMSR data integration, providing visibility and command over eSIM functions in operation. Aurora facilitates remote observation of TEAL eSIM network usage and performance status on a global scale, thereby improving device deployment and management.
Who Are the Key Players in the IoT Connectivity Management Platform Market?
Major companies operating in the IoT connectivity management platform market include:
• Google LLC
• Microsoft Corporation
• Huawei Technologies Co Ltd.
• Amazon Web Services Inc.
• China Telecom Corporation Limited
• International Business Machines Corporation
• China Unicom (Hong Kong) Limited
• Cisco Systems Inc.
• Oracle Corporation
• SAP SE
• Hewlett Packard Enterprise Development LP
• Telefonaktiebolaget LM Ericsson
• Nokia Corporation
• ZTE Corporation
• Swisscom AG
• Proximus Group SA
• Vodafone Idea Limited
• Tata Communications Limited
• PTC Inc.
• Software AG
• Comarch SA
• KORE Group Holdings Inc.
• Aeris Communications Inc.
• Emnify Ltd.
• Truphone Limited
• Sierra Wireless Inc.
What are the Regional Insights into the IoT Connectivity Management Platform Market?
Asia-Pacific was the largest region in the IoT connectivity management platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IoT connectivity management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
