IoT Middleware Global Market 2024 To Reach $33.96 Billion By 2028 At Rate Of 17.8%

The Business Research Company's IoT Middleware Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The iot middleware market has experienced robust growth in recent years, expanding from $14.54 billion in 2023 to $17.62 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to rise of connected devices, industry-specific demands, standardization efforts, integration requirements, cloud computing adoption.

What Is The Estimated Market Size Of The Global IoT Middleware Market And Its Annual Growth Rate?
The iot middleware market is projected to continue its strong growth, reaching $33.96 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to evolving customer expectations, cost-efficient solutions, standardization initiatives, cloud integration, industry-specific solutions.

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Growth Driver Of The IoT Middleware Market
The increasing adoption of IoT devices is expected to propel the growth of IoT middleware market going forward. IoT devices, or Internet of Things devices, are physical objects embedded with sensors, software, and network connectivity to collect and exchange data over an internet connection. IoT middleware plays a crucial role in connecting and managing IoT devices within the Internet of Things (IoT) ecosystem serving as a bridge between the heterogeneous devices and the applications that utilize their data, providing a layer of abstraction that simplifies device management, data collection, and communication.

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Who Are the Leading Competitors in the IoT Middleware Market Share?
Key players in the market include Microsoft Corporation, International Business Machines Corporation, SAP SE, Cisco Systems Inc., Google LLC, Hitachi Ltd., Oracle Corporation, General Electric Company, Schneider Electric SE, ClearBlade Inc., PTC Inc., Robert Bosch GmbH, Siemens AG, ABB Ltd., AVEVA Group PLC, Alitzon Inc., Eurotech S.p.A., Fujitsu Ltd., Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., Intel Corporation, Litmus Automation Inc., Mocana Corporation, Nebbiolo Technologies Inc., Nokia Corporation, Particle Industries Inc., Progress Software Corporation, ThingWorx Inc., Wind River Systems Inc., KaaIoT Technologies LLC.

Which Key Trends Are Driving IoT Middleware Market Growth?
Major companies operating in the IoT middleware market are developing innovative technologies such as, cellular IoT, to gain a competitive edge in the market. Cellular IoT refers to the use of cellular networks to enable communication between devices and systems in the Internet of Things (IoT).

How Is The Global IoT Middleware Market Segmented?
1) By Platform Type: Device Management, Application Management, Connectivity Management
2) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
3) By Vertical: Manufacturing, Government And Defense, Automotive And Transportation, Energy And Utilities, Healthcare, Retail, BFSI (Banking, Financial Services, And Insurance), Other Verticals

Geographical Insights: North America Leading The IoT Middleware Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

IoT Middleware Market Definition
IoT middleware is software that serves as an interface between the IoT components, enabling communication among the elements that will not be capable of otherwise. Middleware connects the different complex and existing programs that are not created to be connected.

IoT Middleware Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global iot middleware market report covering trends, opportunities, strategies, and more
The IoT Middleware Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on iot middleware market size, iot middleware market drivers and trends, iot middleware market major players and iot middleware market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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