Market Size of IoT Middleware Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 15.16 Billion |
| Market Size (2029) | USD 35.92 Billion |
| CAGR (2024 - 2029) | 18.82 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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IoT Middleware Market Analysis
The IoT Middleware Market size is estimated at USD 15.16 billion in 2024, and is expected to reach USD 35.92 billion by 2029, growing at a CAGR of 18.82% during the forecast period (2024-2029).
- The growing adoption of IoT technology across end-user industries, such as manufacturing, automotive, and healthcare, is positively driving the market’s growth. With the traditional manufacturing sector amid a digital transformation, IoT is fueling the next industrial revolution of intelligent connectivity. This is changing how industries approach increasingly complex processes of systems and machines to improve efficiency and reduce downtime. With the growth in the number of devices connected to the internet, there is a greater need for seamless collaboration and connectivity between those devices, thus making IoT middleware a significant focus area for businesses.
- Additionally, the IoT Middleware market is witnessing substantial demand in various This is driven by the need to manage the growing number of connected devices and the vast amount of data they generate. The integration of IoT middleware in end-user sectors is expected to streamline operations, enhance service delivery, and create new business opportunities.
- Adopting an industry-agnostic application middleware plays a vital role in reducing the complexity of future changes to their IoT solutions. Further, with the growing integration of IoT into mobile devices, machinery, equipment, and tablets, among other devices, the need for a platform to support and integrate such demands has become necessary.
- Government initiatives, such as smart city projects, are expected to create demand for IoT middleware. Trends, such as connected buildings, smart factories, and smart homes, are expected to create opportunities for the market. Moreover, the smart cities' concept has marked a great prospect with the IoT in the energy, waste, and infrastructure sectors.
- In the post-COVID-19 world, cloud-based remote and secure control over industrial IoT without the need for a highly trained workforce has become necessary. Moreover, the proliferation of connected devices in industries such as manufacturing, healthcare, and transportation is further expected to drive the demand for IoT Middleware solutions in the coming years.
