The IoT connectivity management platform market revenue totaled USD 7.3 Billion in 2023. The IoT connectivity management platform market size is expected to reach USD 34.7 Billion by 2033, growing at a CAGR of 16.9% over the assessment period.
| Report Attributes | Details |
|---|---|
| IoT Connectivity Management Platform Market Estimated Value (2023) | USD 7.3 Billion |
| Projected year (2033) Market Value | USD 34.7 Billion |
| Value-based CAGR% (2023 to 2033) | 16.9% |
| Top 5 Vendor Market Share | Around 38% |
IoT connectivity management platform market currently represents nearly 40% of the total IoT platform market. The popularity of IoT connectivity management platform is increasing as it helps to modify the cellular IoT and M2M deployments.
IoT connectivity platforms are compatible with carriers which enables devices to access 3G, 4G, 5G, and NB-IoT networks. Low power wide area networks (LPWANs) connect all types of IoT sensors even with scattering of nodes in direct proximity. Zigbee is well suited for medium-range IoT applications. IoT connectivity management platform is also used for vehicle-to-vehicle communication (V2V).
| Market Statistics | Details |
|---|---|
| Jan - Jun (H1), 2021 (A) | 16.8% |
| Jul - Dec (H2), 2021 (A) | 17.1% |
| Jan - Jun (H1),2022 Projected (P) | 17.2% |
| Jan - Jun (H1),2022 Outlook (O) | 17.5% |
| Jul - Dec (H2), 2022 Outlook (O) | 17.7% |
| Jul - Dec (H2), 2022 Projected (P) | 17.4% |
| Jan - Jun (H1), 2023 Projected (P) | 17.9% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+)30 |
| BPS Change : H1,2021 (O) - H1,2021 (A) | (+)70 |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+)30 |
| BPS Change: H2, 2021 (O) - H2, 2022 (A) | (+)60 |
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The IoT connectivity management platform demand is estimated to grow at 16.8% CAGR between 2023 and 2033, in comparison with 15.3% CAGR registered between 2018 & 2022.
IoT connectivity management platform promotes bring-your-own-computer (BYOC) connectivity. Organizations are adopting BYOC to eliminate the initial infrastructure expenses and to minimize the cost of equipment and deployment. The trend also provides a flexible work environment to the employees and supports connectivity technologies such as LTE, GSM, CDMA and various non-cellular connectivity protocols such as Wi-Fi and Bluetooth.
Solution segment in global IoT connectivity management platform market is estimated to account for a dominant share of 17.7% in 2023 as it addressed the consolidation challenges associated with operating and managing IoT devices.
The Internet of Things (IoT) plays a crucial role in connecting the world. IoT refers to the interconnection and exchange of data among devices/sensors and systems over the internet. Integrating IoT in systems offers various advantages such as long-reach, low data rate, low energy consumption, and profitability.
IoT technologies are used to handle an array of problems and situations such as vehicle traffic congestion, road safety and inefficient use of vehicle parking spaces in the day-to-day life.
IoT-based smart parking systems are integrated with mobile applications to provide comprehensive parking solution both for the user and owner of the parking space. Smart parking systems are usually based on LPWA networks for connectivity. These networks are also known as mobile IoT networks, as they are specifically designed to support IoT sensors and data that enable smart parking. These networks are designed to be secure, scalable, and future-proofed and operate cost effectively.
Growing adoption of IoT in the automotive sector, particularly in advanced driving assistance systems (ADAS) in autonomous vehicles is expected to bode well for the market in the forthcoming years.
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With the growth and development of IoT, the mobile industry together with 3GPP has standardized new cellular technologies by integrating them with IoT devices. LPWA networks are among technologies that support devices that require low power consumption, long range, low cost, and security.
LPWA technologies offer connectivity solutions across several industries and support a wide range of applications & deployment, which the existing mobile technologies are not able to offer. LPWA networks are designed for IoT applications which require long battery lives, have low data rates, and can be operated in remote locations. These devices are easy to deploy across a number of verticals such as energy & utilities, smart cities, automotive, transportation, agriculture, manufacturing, and wearables.
LPWA network is an emerging cellular IoT technology and is expected to create opportunities for the deployment of IoT connectivity management platform.
South Asia & Pacific is estimated to be the fastest growing region in IoT connectivity management platform market. Sales in the region are expected to grow by 7.8X during the forecast period. Consumers are adopting IoT as it focuses on sustainability and smart technologies. Various network providers are collaborating and partnering with infrastructure solution providers to deploy IoT centric technologies for building smart cities.
Companies are focusing on offering affordable and reliable connectivity for applications such as asset tracking, environment monitoring etc. This factor is encouraging adoption of IoT and M2M technology, thereby driving the demand for IoT connectivity platform in the region.
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Growing Trend of Bring-your-own-device (BYOD) in China will Fuel Sales
The IoT connectivity management platform demand in the China is expected to account for nearly 43.3% of East Asia market share in 2022. China has embraced NB-IoT technology since the time it was launched. In 2017, China started NB-IoT testing and trials to be able to commercialize NB-IoT in the country. It has completed the transition from lab and field tests to commercial implementation.
The country's leadership in NB-IoT development can be ascribed to a variety of aspects, including favorable policies, quick deployment of the network ecosystem by operators, technological development and upgrades, and the presence of a significant number of component vendors. Governments and authorities in China have long worked to ease the way for the deployment of NB-IoT networks and applications, which in turn, is driving sales of IoT connectivity management platforms in the country.
Increasing Deployment of IoT Devices in Smart Cities Will Spur Demand
South Asia & Pacific is predicted to remain one of the most attractive markets during the forecast period. According to the study, sales in India are estimated to grow by 11.3x during the forecast period.
In the past few years, South Asian countries have experienced a remarkable increase in infrastructure spending. The IoT revolution is spreading its roots in India as well, and there is a rapid influx of Indian companies joining ranks to move the technology forward.
Smart cities consist of various types of electronic equipment for various applications such as smart homes, smart traffic, smart security, and utilities. This is spurring demand for IoT and connected devices, such as smart meters, home gateways, smart appliances, sensors, & smart plugs for deployment in smart cities.
Rising Applications in the Automotive Sector Will Drive Growth
Demand in Germany is estimated to grow at an impressive rate of around 14.6% CAGR between 2023 and 2033. In the automotive sector, connectivity is quickly becoming one of the most important competitive differentiators.
With the automotive industry moving toward connected vehicle technology, various technologies such as V2D (vehicle-to-device), V2V (vehicle-to-vehicle), and V2P (vehicle-to-person) and (vehicle-to-pedestrian), V2I (vehicle-to-infrastructure), have emerged.
The incorporation of different features such as blind spot detection, voice control, and wireless charging capabilities, and self-driving vehicles can also be considered as improvements in the automobile business. The usage of IoT connectivity management platforms in Germany has increased as a result of these improvements in the automotive sector.
| Country | BPS Change (H2'22 (O) - H2'22 (P)) |
|---|---|
| USA | (+)36 |
| Germany | (+)35 |
| United Kingdom | (+)34 |
| Japan | (+)33 |
| China | (+)32 |
The H2’22(O)-H2’22(P) BPS change in United Kingdom was of (+)34 units attributed to the growth of the IoT industry is leading to an increased demand for connectivity management platforms, as the number of connected devices continues to rise which is driving the adoption of IoT connectivity management platform. Where as in Japan the number of connected devices grows, organizations are recognizing the need for centralized management to ensure secure and efficient IoT deployments leading to the deviation of (+)33 units.
The development of new technologies such as 5G, low-power wide-area networks (LPWANs), and edge computing are driving the growth of the IoT connectivity management platform market, as they provide new opportunities for efficient device management resulting in China a BPS change of (+)32 units.
Germany encountered a BPS change of (+)35 units for the IoT connectivity management platform market owing to the growth of the IoT, there is a growing demand for real-time data analytics and decision-making, which is driving the need for advanced connectivity management platforms.
USA witnessed a BPS of (+)36 BPS units for the IoT connectivity management platform market as the government is heavily investing in IoT technologies and initiatives, which is driving the growth of the connectivity management platform market.
Rising Adoption of IoT Connectivity Management Solutions Will Steer Growth
The IoT connectivity management solution segment is expected to create an absolute opportunity of USD 15.0 Billion by the end of 2033. Adoption of IoT connectivity management platform is increasing as it helps in efficient connectivity management throughout the product life cycle, reduces total cost of ownership, and helps in efficient management of devices. Also, the platform eliminates the risk of authorized access to M2M and IoT networks.
IoT connectivity management platform is used for reducing the complexity and allows organizations to efficiently manage devices and cellular technologies and optimize data rates for optimal IoT deployment.
Growing Applications of IoT in SMEs Segment Will Boost Sales
The SMEs segment is expected to expand by 5.2x during the forecast period. SMEs are emerging as key end-users of IoT technologies. Industrial manufacturing companies are moving toward IoT-driven technologies for smart production, operations, inventory, logistics, and supply chain for boosting revenues by creating new hybrid business models.
IoT solutions among enterprises have grown from servicing the supply chain process to adding visibility to healthcare, government offices, and energy & utilities industries.
Demand for IoT Connectivity Management Platform in the Healthcare Sector to Remain High
In terms of industry, sales in the healthcare sector are forecast to grow at a CAGR of 23.1% during the forecast period. In healthcare industry, with narrowband Internet of Things (NB-IoT), medical equipment can be completely integrated to the network via cloud and enables a state-of-the-art cloud connected healthcare ecosystem.
This dramatically enhances the data gathering process and data analysis, and boosts equipment efficiency and network communication reliability. This is expected to continue pushing sales in the healthcare sector worldwide.
IoT connectivity management platform market players are focusing on various strategies such as partnerships and collaborations for enhancing their customer base and product offerings. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Germany, The United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa and South Africa |
| Key Segments Covered | Component, Deployment, Enterprise Size, Industry and Region |
| Key Companies Profiled | Cisco; Nokia; Truphone; Huawei; Ericsson; Comarch; KORE; Arm; HPE; ZTE; Links Field; MAVOCO AG; Swimscom; Emnify; Aeris |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is expected to grow at a CAGR of 14.9% from 2023 to 2033, creating opportunities for investors.
The projected revenue of the market by 2033 is USD 34.7 billion.
The market CAGR for 2033 is projected to be 16.9%.
North America, Europe, and Asia-Pacific are the leading markets.
North America holds the largest market share.
1. Executive Summary | IoT Connectivity Management Platform Market 2. Market Overview 3. Key Market Trends 4. Pricing Analysis 5. Global Market Demand (in Value in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market Background 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 7.1. Services 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 8.1. On-premise 8.2. Cloud-based 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size 9.1. Small and Medium-sized Enterprises (SMEs) 9.2. Large Enterprises 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 10.1. IT & Telecom 10.2. Consumer Electronics 10.3. Energy & Utilities 10.4. Healthcare 10.5. Manufacturing 10.6. Retail 10.7. BFSI 10.8. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia & Pacific 11.6. Middle East & Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Key Country Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Cisco 20.2. Nokia 20.3. Truphone 20.4. Huawei 20.5. Ericsson 20.6. Comarch 20.7. KORE 20.8. Arm 20.9. HPE 20.10. ZTE 20.11. Links Field 20.12. MAVOCO AG 20.13. Swimscom 20.14. EMillionify 20.15. Aeris 21. Assumptions and Acronyms Used 22. Research Methodology
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IoT Connectivity Management Platform Market
