Europe IoT Platform Market Expected to Reach US$ 3,303.3 Mn in 2025: Transparency Market Research

According to a new market report published by Transparency Market Research entitled “IoT Platform Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”, the global IoT Platform market was valued at US$ 1,786.8 Mn in 2016 and is expected to expand at a CAGR of 21.0% from 2017 to 2025, reaching US$ 10,064 Mn by the end of the forecast period.

Browse the full report at http://www.transparencymarketresearch.com/iot-platform-market.html

The global IoT platform market has been classified into five geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa and South America. In North America startups in IoT platform market with innovative solutions are gaining ground. Also, number of prominent industry players in the market have joined forces to provide integrated solutions and advanced technology to the customers. The IoT platform market in Europe is witnessing increased adoption of IoT devices for connected entertainment and smart homes. In Europe, customer awareness about smart home technology and increased adoption of security system compliment the IoT platform provider’s efforts to increase client base. High broadband penetration and adoption of smart products in Europe also has created a favorable situation for IoT platform providers. In Europe, “Industry 4.0” also known as the fourth industrial revolution, is created by the government of Germany and the regional industry players which is aimed toward digitization of the manufacturing sector. The basic principle behind Industry 4.0 is to monitor the physical factory processes and make decentralized decisions with the help of cyber-physical systems. Here, the physical systems are IoT devices which can communicate and cooperate with each other and make decisions in real-time. Numerous Germany-based manufacturing companies such as Trumpf, Rolls-Royce, Siemens, and Dassault Systems have shifted their technology activities of business units to Industry 4.0 technologies and several market players from the U.K., France, and Spain are anticipated to follow the same trend.

In Asia Pacific, adoption of technology and proliferation of remote devices are major factors supplementing IoT platform market growth. Countries with high population such as China and India have a significant room for internet penetration. Migration to 4G in the region, especially across countries such as South Korea, Japan, and China, which were early adapters of technology with faster 4G adoption rates than Europe and North America is also contributing to the growth of the market. In terms of 5G network, the South Korea, Japan, and China markets are driving the deployment rate of technology in the region. South Korea is estimated to launch its 5G services with the 2018 Winter Olympics in the country and further nationwide deployments by 2020. Improved connection speed allows IoT platform providers to offer advanced solutions to their customers. In some countries across Asia Pacific, governments are taking significant steps to create a favorable situation for technology adoption. In July 2015, the Ministry of Science, Technology and Innovation (MIMOS), Malaysia, unveiled National Internet of Things (IoT) Strategic Roadmap, which aims to drive IoT adoption in the country with the help of initiative. The government of India has announced plans to build 100 smart cities in the country with initial investments of USD 7.6 Bn, and similar ‘Smart City’ projects are underway in Thailand and Indonesia. In Asia Pacific region, China and Japan are projected to have high market share over the forecast period. In Middle East and Africa (MEA) region number of public organizations are using IoT platforms to improve public safety and civic life. In June 2015, Nairobi County in Kenya solved its waste management issues with the help of IoT applications designed by IBM Research, Africa. In MEA region GCC countries are projected to have a high market share over the forecast period. In South America region IoT platform players and government are taking initiative to increase co-ordination for IoT development. In March 2017, Ericsson and the government of Brazil entered into a partnership to establish an Innovation Center for Internet of Things (IoT) applications at São José dos Campos, which is projected to focus on developing public security applications.

The key players profiled in the global IoT Platform market include Microsoft Corporation, Google Inc., PTC Inc., IBM Corporation, Cisco Systems, Inc., SAP SE, Salesforce.com, Inc., Amazon Web Services, Inc., Oracle Corporation and General Electric.

The IoT Platform market has been segmented as below:

The IoT Platform Market, By Deployment

  • On-Premise

  • Cloud

The IoT Platform Market, By Application

  • Inventory Management

  • Human Capital Management

  • Customer Service

  • Enterprise Performance Management

  • Supply Chain Management

  • Infrastructure Management

  • Other (Security, Asset Performance Management)

The IoT Platform Market, By Industry Vertical

  • Retail

  • Healthcare

  • BFSI

  • Oil and Gas

  • Transportation and Logistics

  • Manufacturing

  • Government and Defense

  • Energy

  • Other (Education, Hospitality)

The IoT Platform Analysis, By Country/Region

  • North America

  • The U.S.

  • Canada

  • Rest of North America

  • Europe

  • The U.K.

  • Germany

  • France

  • Rest of Europe

  • Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Rest of Asia Pacific

  • Middle East & Africa

  • GCC

  • South Africa

  • Rest of Middle East and Africa

  • South America

  • Brazil

  • Argentina

  • Rest of South America

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Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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