The global IoT middleware market is growing at a significant CAGR of around 7.0% during the forecast period (2020-2026). IoT middleware is software that acts as a bridge between physical world (IoT devices) and virtual world (applications). It is particularly responsible for setting up interaction with devices and information management system. The software deals with the format, structure, and encoding of the information that are switched between IoT devices and sensors, and different layers. The demand for IoT middleware is expected to increase with the continuous growth in the sales of IoT devices. The world is moving towards the connective technology, with which, a number of manual equipment is being transformed to connected devices. In fact, the IoT technology is implemented in a range of equipment and devices across every sector, such as manufacturing, automotive, and others. Such evolution of IoT devices in every sector is offering growth to the IoT middleware market across the globe.
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Moreover, there are several other pivotal factors that are driving the global IoT middleware market, which includes growing demand for centralized monitoring and evolution of high-speed network coverage, such as 5G and upcoming 6G. In addition, the increasing adoption of cloud for data storage along with its increasing demand in SMEs is further expected to propel the market growth during the forecast period. However, the concerns over data privacy and security and absence of IoT standards will affect the market growth during the forecast period. Moreover, the outbreak of COVID-19 pandemic will affect the CAGR of IoT middleware market during the forecast period. There is a risk that current IoT initiatives are impacted as movement of specialists is restricted, and the operational sites are closed down, leading to the decline in the market value in 2020.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global IoT Middleware Market by Platform
- Device Management
- Application Management
- Connectivity Management
Global IoT Middleware Market by Vertical
- Energy & Utilities
- Manufacturing
- Automotive
- Retail
- Healthcare
- Others (BFSI and Defense)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Aeris Communications
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- ClearBlade, Inc.
- General Electric Co.
- Google Inc.
- Hitachi, Ltd.
- IBM Corp.
- Litmus Automation, Inc.
- Microsoft Corp.
- MuleSoft, LLC
- Oracle Corp.
- PTC Inc.
- Robert Bosch GmbH
- SAP SE
- Schneider Electric SE
- Siemens AG
- TIBCO Software Inc.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IoT middleware market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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