By Neo Sesinye
IoT platforms provide middleware to connect and manage devices and integrate collected data into various applications and services.
According to a new research report from the IoT analyst firm Berg Insight, the global market for IoT device management and application enablement platforms reached US$ 1.1 billion in 2017.
Growing at a compound annual growth rate (CAGR) of 36.2 percent, the total market value is expected to reach US$ 4.9 billion in 2022. IoT platforms provide middleware to connect and manage devices and integrate collected data into various applications and services.
These platforms are intended to reduce the cost and development time for IoT solutions by providing standardised components that enterprises can build upon.
The IoT platform market is notably crowded and hosts a multitude of players spanning from small start-ups to major companies in 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 businesses.
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. Software AG’s Click here to read entire article
Source:: IT News Africa