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Market Synopsis
The global open IoT platform market2020, according to MRFR, is poised to reach roughly
USD 5.96 billion by 2025, expanding at 17.60% CAGR over the review period (2019—2025).
Market Scenario
Over the forecast era, the
open IoT platform market is expected to show significant growth prospects in
this rapidly evolving environment of technology. Reduction of the costs of
connected devices and continuous technical development are some of the key
factors fueling the growth of the open IoT platform industry. Additional
factors driving the growth of open IoT application market are developing
developer skills and learning new technologies. Data security and privacy
concerns are, however, the factor that hampers market growth over the forecast
period.
Segmental Analysis
The global market for the
open IoT platform was segmented into component, deployment, organizational size
and vertical industry.
The global open IoT platform
market was segmented by component into hardware, software , and services. The
services segment was further classified as professional and managed services.
The market was categorized
by deployment into cloud (private, public, and hybrid) and on-premise.
The global open IoT platform
market was segmented into SMEs and large organizations by organization size
By vertical industry the
market was divided into government, healthcare , education, manufacturing ,
retail, electricity & utilities, automotive, and IT & Telecom.
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Regional Analysis
The global open IoT
application market regional research is being studied for Asia-Pacific, Europe,
Middle East & Africa, North America and South America.
Thanks to the prevalence of
early adopters of the new technologies in this area North America dominates the
global open IoT platform segment. The growth is also attributed to the
involvement of a large number of existing core players such as Google, Inc.,
IBM Corporation, and Oracle Corporation leading this region's open IoT platform
market. In addition, the demand is also driving the growing popularity among
the developer community in that region. The area also has a well-established
infrastructure in addition to this, and is expected to be a key factor in the
development of the open IoT platform sector. In addition , the growth of the
North American open IoT platform market is due to the growing popularity among
the region's developers. Those are some of the aspects that are responsible for
the growth of the region 's global open IoT platform market over the forecast
period.
Countries throughout Europe
include Germany, France and Great Britain. Growth of the open IoT network
market is expected. In Europe, the popularity of open source platforms among
developers is growing, and is therefore the key factor driving the growth of
open IoT platform market. Other factors driving the growth of the open IoT
platform market are the emergence of advanced technology, and the rising
acceptance of open source software and technological developments in various
countries.
Over the forecast period
Asia Pacific expects to hit the highest CAGR on the global open IoT platform
market. This is due to the presence in the area of leading giants like Samsung
and Ericsson. In addition, that collaborations between key players help speed
up the delivery of IoT services and solutions in the area. Another aspect
responsible for the growth of the demand for the open IoT platform is early
adoption of smart connected devices.
Competitive Dahboard
Some of the main players of
open IoT platform market includes IBM Corporation (US), The ThingsBoard Authors
(US), Microsoft Corporation (US), Samsung (South Korea), Ayla Networks Inc.
(US), Bosch (Germany), Google, Inc (US), General Electric (US), KaaIoT Technologies,
LLC. (US), Oracle Corporation (US), SiteWhere LLC (US), Italtel SpA (Italy),
Siemens AG (Germany), Thinger.io(Europe), and WSo2 (US)
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