Global Open IoT Platform Market By Component (Hardware, Software, Service), Deployment (Cloud, On-Premise), Organization Size (SMEs, Large Enterprise), Industry Vertical (Government, Healthcare, Education, Manufacturing, Retail, Power and Utilities, Automotive, IT and Telecom), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Open IoT Platform Market
The open IoT platform market is expected to witness market growth at a rate of 21% in the forecast period of 2021 to 2028 and is expected to reach USD 55 billion by 2028.. Data Bridge Market Research report on open IoT platform market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in the penetration of IoT globally is escalating the growth of open IoT platform market.
Open IoT platform refers to a joint effort of prominent open source contributors for the purpose of allowing a new range of open large scale intelligent IoT (Internet of Things) applications in accordance with a utility cloud computing delivery model. The technology is defined as a natural extension to cloud computing implementations that enables access to additional and increasingly important IoT based capabilities and resources. This offers formulation and management of environments comprising of IoT resources that deliver on-demand utility IoT services.
The rise in the need for reducing cost of connected devices across the globe, acts as one of the major factors driving the growth of open IoT platform market. The increase in demand of the Open IoT platform as it provides open-source codes to public for its modification from the original design and the rise in the use of portable devices, such as smartphones and tablets among others accelerate the market growth. The growing adoption of the platform owning to its easy installation and cost-effectiveness and advent of IT projects by government organizations in order to encourage the end users to rise expenditures on innovative technologies for improving customer experience further influence the market. Additionally, high usage of software globally for various applications, rise in adoption of cloud-based Internet of Things solutions, government initiatives to adopt Internet of Things technologies and high online transactions positively affect the open IoT platform market. Furthermore, technological advancements and introduction of advanced solutions extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, the increase in in data security and privacy concerns is expected to obstruct the market growth. Lack of common standards is projected to challenge the open IoT platform market in the forecast period of 2021-2028.
This open IoT platform market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on open IoT platform market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Open IoT Platform Market Scope and Market Size
The open IoT platform market is segmented on the basis of component, deployment, organization size and industry vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of component, the open IoT platform market is segmented into hardware, software and service. Service is further segmented into professional services and managed services.
- On the basis of deployment, the open IoT platform market is segmented into cloud and on premise. Cloud is further segmented into public cloud, private cloud and hybrid cloud.
- On the basis of organization size, the open IoT platform market is segmented into SMEs and large enterprise.
- On the basis of industry vertical, the open IoT platform market is segmented into government, healthcare, education, manufacturing, retail, power and utilities, automotive and IT and telecom.
Global Open IoT Platform Market Country Level Analysis
The open IoT platform market is analyzed and market size, volume information is provided by country, component, deployment, organization size and industry vertical as referenced above.
The countries covered in the global open IoT platform market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the open IoT platform market due to the presence of early adopters of the latest technology and prominent key players, and rise in the popularity among the developers within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the presence of leading tech giants, early adoption of smart connected devices and increase in deployment of IoT services and solutions in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Open IoT Platform Market Share Analysis
The open IoT platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to open IoT platform market.
The major players covered in the open IoT platform market report are SAMSUNG, Robert Bosch GmbH, Ayla Networks Inc., GENERAL ELECTRIC, KaaIoT Technologies, LLC, The ThingsBoard Authors, SiteWhere, LLC., Siemens, Italtel S.p.A., Thinger.io, IBM, Cisco, Google, SAP SE, Apple Inc., Vodafone Group Plc., Accenture., Time Inc., Hewlett Packard Enterprise Development LP, SAMSUNG, Intel Corporation, Microsoft, Oracle, PTC, Amazon Web Services, Inc., Happiest Minds, and HARMAN International. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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