According to a new report Global IIoT Platform Market, published by KBV research, The Global IIoT Platform Market size is expected to reach $14.8 billion by 2027, rising at a market growth of 13.2% CAGR during the forecast period.
On the basis of the platform, the device management platform segment would dominate the market throughout the forecast period. With the installation of IoT ecosystems, various devices are being linked, such as small sensors, single-purpose microcontrollers, and effective gateways that link the devices with the server. These ecosystems require a single platform that handles the applications and information across different devices.
On the basis of application, the supply chain management segment would exhibit a promising growth rate during the forecast period. In any kind of manufacturing sector, supply chain management has become one of the essential processes because it includes integrating and coordinating the flow of raw materials and finished goods both within and outside the enterprise.
The North America market dominated the Global IIoT Platform Market by Region 2020. Owing to the early acceptance of new technologies, like big data, IoT, cloud, and mobility, the companies operating in the region are highly willing to incorporate IoT technologies into their processes. In addition, the growth of the market is boosted by the growing deployment of secure, smart, and connected technologies for asset-centric applications. The Europe market is experiencing a CAGR of 12.3% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 15.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/iiot-platform-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Cisco Systems, Inc., Microsoft Corporation, Software AG, SAP SE, Hitachi, Ltd., Intel Corporation, Siemens AG, Accenture PLC, and PTC, Inc.
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