According to the new market research report "IoT Middleware Market by Platform Type (Device, Application, and Connectivity Management), Organization Size (Large Enterprises and SMES), Vertical (Manufacturing, Government & Defense, Automotive & Transportation), and Region - Global Forecast to 2023".

[117 Pages Report] The global IoT middleware market size is expected to grow from USD 6.9 billion in 2018 to USD 19.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.0% during the forecast period. A growing need for centralized monitoring, increased cloud adoption, increase in regulatory compliance, evolution of high speed network technologies, and rising adoption of next-generation technologies are expected to drive the global IoT middleware market.
By platform type, the device management segment to hold the largest market size during the forecast period
With the deployment of IoT ecosystems, a large number of devices are being connected, which range from small sensors and single-purpose microcontrollers to powerful gateways that connect the devices to the server. Device management platforms assist organizations in effectively managing and tracking, and securing the devices used in the organization. With the help of these platforms, organizations can proactively and remotely monitor and configure their smart devices and other hardware and software solutions as soon as their devices and processes are connected.

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Manufacturing vertical to grow at the highest CAGR during the forecast period
Manufacturing organizations are moving toward Industry 4.0, wherein smart devices and automation would work together in an entirely new way. In Industry 4.0, robotics is connected remotely to computer systems equipped with Machine Learning (ML) and Artificial Intelligence (AI) algorithms, which can learn and control robots with minimal inputs. The Industry 4.0 includes cyber-physical systems, which monitor physical processes of factories and make decentralized decisions. IoT is at the center of factory automation and Industry 4.0, and helps organizations streamline their business processes and optimize operations. IoT platforms help manufacturing companies to automate processes and manage supply chains.

North America to hold the largest market size during the forecast period
North America comprises developed countries: the US and Canada. These countries have invested significantly in R&D activities, thereby contributing to the development of innovative technologies. The US and Canada are also the early adopters of trending technologies, such as IoT, big data, and mobility, and it creates enormous opportunities for the growth of the IoT middleware market. The startup culture in North America is growing at a faster pace as compared to the other regions. The advent of SMEs and the increasing digitization trend in the different industry verticals are also expected to boost the growth of the North American market.

Key questions addressed by the report:
• Where would all these developments take the industry in the mid to long term?
• What are the upcoming industry solutions for the IoT middleware market?
• Which are the major factors expected to drive the market?
• Which region would offer high growth for vendors in the market?
• Which solution would gain the highest market share in the market?

To know about the assumptions considered for the study, download the pdf brochure

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