IOT Middleware Market Key Findings, Future Insights, Market Revenue and Threat Forecast by 2028
Future market research insights
The worldwide IOT middleware market was estimated to be worth USD 26.7 Billion in 2021 and was expected to reach that amount by 2028 with a CAGR of 18.3% from 2021 to 2028.
Middleware for the Internet of Things (IoT) is software that serves as a connection point for IoT parts, enabling communication between parts that otherwise couldn't using integrated technology. The structure, format, and encoding of data transported across many layers, devices, and sensors are handled by IoT middleware. The IoT ecosystem architecture will be made up of a variety of devices, sensors, operating systems, and applications that will communicate with one another via IoT middleware.
IoT middleware market adoption in the manufacturing sector is anticipated to be driven by the ability for manufacturers to link equipment and control systems to acquire a greater understanding of the production process. The rising popularity of industrial technology has benefitted the Industrial Internet of Things (IoT), a growing number of machine-to-machine connections, and the growing need for factory efficiency on the floor as well as in the field. The Internet of Things is becoming increasingly significant, particularly among manufacturing companies that have adopted automated solutions.
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Key players
Microsoft (United States) , IBM (United States) , SAP (Germany) , Cisco (United States) , Google (United States) , Hitachi (Japan) , Bosch (Germany) , Oracle (United States) , General Electric (United States) , Schneider Electric (United States) , ClearBlade(United States) , Davra (United States) , MuleSoft (United States) , , TIBCO (US)
Market segmentation
The market for IOT middleware on a worldwide scale has been divided into the categories of platform type, organisation size, vertical, and region or nation.
The market for Internet of Things middleware has been divided into device management, application management, and connection management according to the type of platform it runs on.
The market for Internet of Things middleware has been segmented into small and medium-sized organisations (SMEs), big enterprises, and giant enterprises with very large operations.
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The market for IOT middleware market has been segmented into the following categories, based on Vertical: manufacturing, government and defence, automotive and transportation, energy and utilities, healthcare, retail, banking, financial services, and other.
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Regional analysis
Over the course of the forecast period, the global IOT middleware market is anticipated to generate sizable revenue from a number of continents. North America, Europe, Asia-Pacific, the Middle East and Africa, and South America were all included in the geographic study of the IOT middleware market. Mexico, Canada, and the United States make up North America. The United Kingdom, Germany, France, and the rest of Europe make up Europe. China, Japan, India, and the rest of Asia-Pacific make up the region known as Asia-Pacific. In terms of IoT middleware market, North America is the market leader. North America is projected to be a significant market due to the growing importance of IoT among the region's significant revenue-generating end-user sectors, such as linked autos, smart energy projects, home automation, and a focus on smart manufacturing. Asia Pacific is anticipated to see the greatest market growth rate throughout the estimate period. Asia Pacific is establishing itself as a very promising market because to rising knowledge of the advantages of improved business efficiency and professionally built IoT middleware platforms given by vendors in this area.
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