IoT Connectivity Management Platform Market is expected to grow at a CAGR of 16.8% during 2022 to 2032

The market for IoT connectivity management platforms generated US$5.4 billion in sales. By 2032, the market for IoT connectivity management platforms is anticipated to be worth US$ 29.7 billion, expanding at a CAGR of 16.8%. Nearly 40% of the whole IoT platform industry is now made up of IoT connectivity management platforms. IoT connectivity management platforms are becoming more and more well-liked since they assist in modifying cellular IoT and M2M deployments.

Platforms for IoT connectivity are compatible with carriers, allowing devices to connect to 3G, 4G, 5G, and NB-IoT networks. All sorts of IoT sensors can be connected by low power wide area networks (LPWANs), even when nodes are dispersed nearby. Zigbee is ideal for medium-range Internet of Things applications.

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Competitive Landscape

IoT connectivity management platform players are entering into partnerships with other players for enabling enterprises to track and control the IoT assets with unified and intuitive connectivity management services. For instance:

· In Feb 2020, Ericsson collaborated with T-Mobile Austria and Stanley Black & Decker for accelerating the global deployment of Stanley Black and Decker’s connected equipment and services.

Key Companies Profiled

• Cisco
• Nokia
• Truphone
• Huawei
• Ericsson
• Comarch
• KORE
• Arm
• HPE
• ZTE
• Links Field
• MAVOCO AG
• Swimscom

“Rapid digitalization across emerging economies is fueling the adoption of IoT devices, which is expected to auger well for the market. In addition to this, surging demand for workplace automation across various organizations will boost sales in the market over the forecast period,” says an FMI analyst.

Key Takeaways:

· By component, the solution segment is anticipated to expand at a CAGR of 17.7% during the forecast period.

· Among the enterprise size, SMEs segment is estimated to grow by 5.2X during the forecast period.

· Cloud-based IoT CMS segment is expected to create an absolute $ opportunity of US$ 16.8 Bn during the forecast period.

· Based on industry, demand in the healthcare segment is anticipated to grow at a CAGR of 23.1% between 2022 & 2032.

· The market in U.K. is expected to progress at a CAGR of around 19.5% during the forecast period.

· In Japan, the IoT connectivity management platform market is expected to grow by 6.9x between 2022 & 2032.

· IoT connectivity management platform market in China is estimated to offer an absolute $ opportunity of US$ 1.3 Bn over the forecast period.

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2017-2021 IoT Connectivity Management Platform Demand Outlook Compared to 2022-2032 Forecast

The IoT connectivity management platform demand is estimated to grow at 16.8% CAGR between 2022 and 2032, in comparison with 15.3% CAGR registered between 2017-2021.

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 2022 as it addressed the consolidation challenges associated with operating and managing IoT devices.