IoT Middleware Market Analysis: Major Players, Lucrative Segments And Top Geographies
8 May, 2023
The global IoT middleware market size is expected to grow from $11.95 billion in 2022 to $14.40 billion in 2023 at a compound annual growth rate (CAGR) of 20.45%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The IoT middleware market is expected to reach $28.67 billion in 2027 at a CAGR of 18.79%.
Global IoT Middleware Market Key Driver
The rise in high-speed network connectivity is expected to propel the IoT middleware market growth. High-speed internet is the internet access provided by a network of servers that transfers data via high-speed cable, satellite, and wireless connections, and as a whole, high-speed internet is much faster than analog dial-up services. The need for high-speed network connectivity is increasing due to the connectivity of devices and supporting complex functions. The rising high-speed network connectivity will require better solutions and IoT middleware that establish better connectivity between devices and enable faster functions.
Get a Sample of the global IoT middleware market reportGlobal IoT Middleware Market Segments
The global IoT middleware market is segmented:
1) By Platform Type: Device Management, Application Management, Connectivity Management
2) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
3) By Vertical: Manufacturing, Government And Defense, Automotive And Transportation, Energy And Utilities, Healthcare, Retail, BFSI (Banking, Financial Services, And Insurance), Other Verticals
4) By Geography: The regions covered in the IoT middleware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global IoT middleware market.
Major IoT Middleware Industry Players
Microsoft Corporation, IBM Corp, SAP SE, Cisco Systems Inc., Google LLC, Hitachi Ltd., Oracle Corporation, General Electric Company, Schneider Electric SE
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IoT Middleware Market Overview
IoT middleware is software that serves as an interface between the IoT components, enabling communication among the elements that will not be capable of otherwise. Middleware connects the different complex and existing programs that are not created to be connected.
IoT Middleware Global Market Report 2023 provides data on the global IoT middleware market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The IoT middleware market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.