About Internet of Things Software
The concept of the Internet of Things (IoT) is simple, IoT software is the most trending topic nowadays. It is an advanced automation and analytics system that helps in exploiting networking, many technologies such as big data, artificial intelligence, and machine learning. This technology is based on embedding a network interface into objects, allowing communications among them to provide various services for users. This software is such incredible that they have the ability to be apt in any environment. Companies are introducing many numerous IoT based products and services. For Instance the prominent takeover of Nest by Google for USD 3.2billion and the subsequent acquisitions of Dropcam by Nestand of SmartThings by Samsung. Hence the rising adoption of Advancements in Wireless Networking Technologies is boosting the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Internet of Things Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google Inc. (United States), Hewlett Packard Enterprise (United States), Amazon Web Services (United States), Bosch Software Innovation GMBH (Germany), General Electronics (United States), Intel Corporation (United States), SAP SE (Germany), Cisco Systems Inc. (United States), Microsoft Corporation (United States) and Oracle Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are International Business Machine (IBM) Corporation (United States) and PTC Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Internet of Things Software market by Type (Cloud-based and On-premises), Application (Building and Home Automation, Manufacturing, Retail and Transportation) and Region.
On the basis of geography, the market of Internet of Things Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Software Solution, the sub-segment i.e. Real-time Streaming Analytics will boost the Internet of Things Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in Cloud Platform Adoption and Major Acceptance in Connected Devices Based on Machine Learning Language
Market Growth Drivers:
Increasing Demand for IoT That Includes Artificial Intelligence and The Rise in Advent of Advanced Data Analytics and Data Processing
Challenges:
Issue Related Towards the Connectivity of Devices and Lack of Awareness in Undeveloped Region
Restraints:
Issues related to Data Security and Privacy Concerns and Lack of Common Standards for IoT Software
Opportunities:
The Rise in Adoption of iPaaS and Growth of BYOD and Remote Workplace Management
Market Leaders and their expansionary development strategies
On April 24, 2019 - At IBM's IoT Exchange, IBM has announced a collaboration with Sund & Baelt which owns and operates some of the largest infrastructures in the world to assist in IBM's development of an AI-powered IoT solution designed to help prolong the lifespan of aging bridges, tunnels, highways and railways
In March 2023, Renesas Electronics has launched a new online, cloud-based version of its IoT system design platform for users to graphically build hardware and software to quickly validate prototypes and develop products. The current development cycle is considered cumbersome – engineers research and define the project, collect device information and requirements, layout hardware, develop software, test, and iterate until the product is ready to release to market. T
Key Target Audience
IoT platform providers, IoT integration service providers, Managed service providers, Communication service providers, Application providers, Network-as-a-Service providers, Third-party system integrators and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.