Transparency Market Research
Internet of Things (IoT) has become a necessity today. Various communication platforms are being introduced into the market; one of them is IoT middleware. IoT middleware is a software used as an interface between the components of IoT. It helps establish communication between IoT components. Components, hardware, and machines can be connected to the IoT network with the help of IoT middleware by establishing communication between IoT middleware and the machine program.
Adoption of cloud models by enterprises, and private and government organizations in order to optimize operational capabilities of traditional devices is a prominent factor driving the global IoT middleware market. Increase in consumer spending on goods and services that involve IoT components and devices is another key factor boosting the global IoT middleware market.
The global IoT middleware market can be segmented based on application, platform, enterprise, service, end-use industry, and geography. Based on application, the IoT middleware market can be divided into application management, data management, and others. In terms of platform, the market can be classified into application enablement, device management, and connectivity management. Based on enterprise, the IoT middleware market can be bifurcated into small and medium enterprise and large enterprise. The enterprise size is distinguished based on the number of employees and geographic presence. In terms of services, the market can be categorized into system integration and professional services. Based on end-use industry, the IoT middleware market can be segmented into IT and telecommunication, automotive and transportation, aerospace, health care, manufacturing, energy and utility, and others.
In terms of geography, the IoT middleware market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The IoT middleware market in developing regions such as Asia Pacific and Middle East & Africa is expected to expand at a significant pace owing to the growth in automobile, manufacturing, health care, and aerospace industries. The IoT middleware market in developed regions such as North America and Europe is anticipated to expand due to the increase in adoption of IoT in energy & utility, automotive, and health care industries in these regions. Adoption of concepts such as ‘Industry 4.0’ in production and manufacturing industries is also estimated augment the IoT middleware market in North America and Europe. Asia Pacific is projected to offer immense opportunities to the IoT middleware market owing to the rise in adoption of IoT in applications. Additionally, increase in investments by governments of countries such as China and India in infrastructure development is likely to propel the IoT middleware market in Asia Pacific. The market in South America and Middle East & Africa is also expected to expand at a significant pace from 2018 to 2026.
In terms of end-use industry, the manufacturing segment is anticipated to dominate the market during the forecast period. It is estimated to be followed by the automotive and transportation segment. Led by the increase in expenditure on “Connected Cars or Logistics” and “Autonomous Cars”, the automotive and transportation segment is projected to expand substantially during the forecast period. Other segments such as health care and IT and telecommunication are also likely to expand at a decent pace during the forecast period owing to factors such as rise in adoption of IoT in maintenance and services, building automation, and in-store contextual marketing.
Key players operating in the IoT middleware market include Cisco Systems Inc., Red Hat, Inc., Oracle, PTC, Bosch Software Innovations GmbH, ClearBlade Inc., Davra Networks, Amazon Web Services, Inc., Arrayent, Inc., Axiros, MuleSoft, Inc., and WSO2.
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