The IoT platform market to reach US$ 7.1 billion in 2022

Over the last few months Berg Insight has been looking closely at the IoT platforms market.

There is a wide range of software platforms available, intended to reduce cost and development time for IoT solutions by offering standardised components that can be shared across many industry verticals to integrate devices, networks and applications. These third party IoT platforms are relatively new in the market and display a great diversity in terms of functionality. Broadly speaking, most IoT platforms fall into one of the following three categories: connectivity management platforms (CMPs), device management platforms (DMPs) and application enablement platforms (AEPs).

Berg Insight estimates that total revenues for third party IoT platforms will grow at a compound annual growth rate (CAGR) of 31.7 percent from € 1.78 billion in 2017 to € 7.05 billion in 2022.

The CMP market is characterised by a limited number of providers, although several new players have emerged in recent time following developments in the domains of LPWA and software-defined networks. Cisco Jasper is the dominant commercial CMP for mobile network operators worldwide and had about 75 million connections at the end of 2017. Other major vendors include Ericsson, Huawei, Amdocs, Comarch, as well as Nokia that launched its Nokia WING service in Q1-2017. Start-ups such as EMnify, Flo Live and Soracom have introduced cloud-based core networks dedicated for IoT that are offered as a service.

A number of major mobile operators continue to invest in the development of their proprietary platforms to differentiate from the competition. Vodafone’s Managed IoT Connectivity Platform stands out as the leading proprietary connectivity management platform with about 67 million connections at the end of 2017. CMPs are also a key component in the value proposition from IoT managed service providers. Aeris and KORE have consolidated their positions as leading players in this segment, with 10 million and 9 million connections respectively at the end of 2017.

The market for device management (DMP) and application enablement platforms (AEP) is notably crowded and has in recent time experienced a new wave of investments from major cloud infrastructure providers and enterprise software vendors. Leading providers of device management platforms include the major semiconductor IP supplier Arm, the cellular module manufacturers Sierra Wireless, Telit and Gemalto, as well as the independent software vendor Wind River.

The application enablement platform market is fragmented and populated by a host of start-ups, as well as major companies from the technology and industrial sectors. These companies have developed offerings that typically have a specific focus on a set of capabilities, often related to their core business. GE and PTC spearheaded the effort of promoting IoT in the industrial sector on a broader scale. While GE has shifted focus to mainly provide solutions rather than its Predix platform alone, PTC has emerged as the leader in the space.

Additional vendors with high involvement in the industrial sector include Software AG, Bosch, IBM, SAP, Oracle, Exosite, Device Insight and Altair Engineering. C3 IoT that specialises in data management and analytics has built a strong position in the utilities sector, followed by GE, Hitachi and IBM. Start-ups such as Ayla Networks, Arrayent (now part of Prodea), Greenwave Systems and Waylay have built substantial customer bases in the consumer electronics and smart home markets. Amazon, Google, Bosch and Samsung also serve large internal customers in this domain. An increasing number of companies target the transportation and smart cities markets including Bosch, Eurotech, Cisco, Davra, InterDigital, HPE and Nokia.


Neosensory launches new hearing loss solution, outperforming hearing aids

Posted on: August 10, 2022

San Mateo, United States. 09 August, 2022 – Neosensory, a technology company designing solutions for hearing health, is thrilled to announce the launch of its latest solution: a wristband for people with hearing loss to experience speech without hearing aids or invasive surgery. Clarify is a ground-breaking wristband and the first alternative to hearing aids and sound amplifiers

Read more

Smart metering: Load balancing leads to annual savings of almost £5,000 for a large UK bakery

Posted on: August 10, 2022

Energy management is becoming an increasingly important component of business strategy for today’s FMCG companies, aimed largely at reducing energy costs, improving sustainability, and achieving ESG goals. According to the 2020 Deloitte Resources Study, half of industrial companies report incorporating energy management at the corporate strategy level, says Matthew Margetts, director of sales and marketing

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox