Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "loT Middleware Market With Impact of Gen AI, by Platform (Device Management, Application Management, Connectivity Management, Data Management, and Security Management), Vertical (Government & Defense, Manufacturing, BFSI) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The IoT middleware market is estimated to be USD 18.5 billion in 2024 to USD 41.7 billion in 2029 at a CAGR of 17.6% from 2024 to 2029.
The loT middleware market is driven by industrial edge computing, such as robots, motors, and other machines connected to main servers containing their data processing capabilities. The benefits of these edge devices include providing feedback to the central server by relaying operating conditions and cycle times. The pace of this pattern is believed to go higher with the emergence of 5G networks since applying fewer limitations on the speed and bandwidth will enhance connectivity and data transfer. This work indicates the promise of the convergence of the 5G and industrial edge computing to play a central part in the Industrial Internet of Things (lloT), which is expected to enhance efficiency and operations' flexibility. 
During the forecast period, the manufacturing vertical contributed the largest market share in the IoT middleware market
Manufacturing organizations have gradually embraced Industry 4. 0, where connected smart devices and automation work hand in hand. In this new industrial revolution, robotics was built to be controlled over the internet and linked to computers proficient in machine learning and artificial intelligence, which, in turn, allowed robots to self-teach and work smartly on restricted commands.
Industry 4. 0 involves cyber-physical systems that observe factories' operations and decide independently. These physical systems are also a part of the IoT environment and work in conjunction with humans in real time. The significance of IoT in the automation of industries, especially factories, and implementing the fourth industrial revolution is vital. This helps businesses and allows them to make better process and operation decisions.
Asia Pacific will register the highest growth rate during the forecast period
The Asia Pacific region is expected to grow fastest in the IoT middleware market during the forecast period. This region already holds more than 40% of the world's population, most of the area's economies are at a relatively fast growth stage, and urbanization is property high. The region is particularly acclaimed for its visionary utilization of new technologies and is expected to exhibit the highest compound annual growth rate in the future. The proactive attempts made by Asia-Pacific organizations to enhance IT support are producing encouraging circumstances for deploying sophisticated technologies. The GSM Association is hopeful that 2025, the region will account for 1/3 of total IoT connections or 11 billion connections. Big players are already taking advantage of it. Litmus Automation, which expanded into Japan recently, is a perfect example; the need for advanced IoT solutions in industrial processes is growing.
Research Coverage
The market study covers the IoT middleware market size across different segments. It aims to estimate the market size and the growth potential across various segments, including platform type, vertical, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
The report provides insights on the following pointers:
- Analysis of key drivers (blockchain enhances IoT middleware to streamline operations and reducing administrative overhead, growing need for centralized monitoring, emergence of 5G & edge computing, and increasing adoption of cloud), restraints (complex integration process of legacy systems, absence of uniform IoT standards and lack of interoperability, and concerns over data security and privacy), opportunities (increasing shift toward outcome and pull economies, and rising adoption of IoT in SMEs) and challenges (lack of skilled workforce, and implementation and security challenges) influencing the growth of the IoT middleware market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the IoT middleware market. Market Development: Comprehensive information about lucrative markets - the report analyses various regions' IoT middleware markets. Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the IoT middleware market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Microsoft(US), IBM (US), PTC (US), Cisco (US), AWS (US), SAP (Germany), Google (US), Hitachi (Japan), Oracle (US), HPE (US), Bosch (Germany), Siemens (Germany), GE (US), Schneider Electric (US), Software AG (Germany), Aeris Communication (US), Salesforce (US), Atos (France), ClearBlade(US), Davra Networks (US), Axiros (Germany), Eurotech (Italy), Litmus Automation (US), Ayla Networks (US), SumatoSoft (US), QiO Technologies (UK), Particle Industries (US) and Exosite (US).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $18.5 Billion |
| Forecasted Market Value (USD) by 2029 | $41.7 Billion |
| Compound Annual Growth Rate | 17.6% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Attractive Opportunities for Players in IoT Middleware Market
- North America: IoT Middleware Market, by Platform Type and Country
- Asia-Pacific: IoT Middleware Market, by Platform Type and Country
Market Overview and Industry Trends
Drivers
- Increasing Focus on Blockchain-Enabled IoT
- Emergence of 5G & Edge Computing
- Growing Need for Centralized Monitoring
- Increasing Adoption of Cloud
Restraints
- Integration Complexity with Legacy Systems
- Absence of Uniform IoT Standards and Lack of Interoperability
- Concerns Over Data Security and Privacy
Opportunities
- Increasing Shift Toward Outcome and Pull Economies
- Rising Adoption of IoT in SMEs
Challenges
- Lack of Skilled Workforce
- Implementation and Security Challenges
Case Study Analysis
- Case Study 1: Lufthansa Technik Uses Enterprise PLM to Sustain Aviation Excellence
- Case Study 2: Nestle Scales to 2.8 Million Connected Devices with AWS IoT
- Case Study 3: Ensuring Sustainable Water Utility Services in Japan with Hitachi's Advanced Solutions
- Case Study 4: Oracle Cloud Helps Titan International Transform into Smart Connected Manufacturer
Company Profiles
- Microsoft
- IBM
- Cisco
- Amazon Web Services
- PTC
- SAP
- Hitachi
- Oracle
- Bosch
- HPE
- Siemens
- GE
- Schneider Electric
- Software AG
- Aeris Communications
- Salesforce
- ATOS
- Clearblade
- Davra Networks
- Axiros
- Eurotech
- Litmus Automation
- Ayla Networks
- Sumatosoft
- Qio Technologies
- Exosite
- Particle Industries
For more information about this report visit https://www.researchandmarkets.com/r/vk9zyl
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