Global Connectivity Platforms for IoT Devices Market - Introduction
- Connectivity platforms for IoT devices majorly focus on the connectivity of connected IoT devices through telecom or cellular networks and non-cellular networks. Connectivity platforms are an essential component of the vast ecosystem of IoT-connected devices, which connect and support all components within the system. It helps simplify the management of devices; handles software/hardware communication protocols; collects and analyzes data; and augments the data flow and utility of smart applications.
- Growing adoption of cloud computing is raising the adoption of IoT platforms as applications, if IoT-connected devices are directly connected to Internet.
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Impact of Coronavirus (COVID-19) on the Connectivity Platforms for IoT Devices Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) negatively impacts the connectivity platforms for IoT devices market. The COVID-19 pandemic has prompted various industries, such as manufacturing, aviation, and hospitality, to shut down their operations and follow guidelines of their respective governments to maintain social distancing, which is expected to restrain the connectivity platforms for IoT devices market.
Increase in Demand for IoT Connected Devices across the Healthcare Sector to Drive the Global Connectivity Platforms for IoT Devices market
- IoT connected devices in the healthcare sector are projected to offer an opportunity to tailor their cognitive data analysis platform by placing major emphasis on health-related services and products. This data analysis is expected to optimize organizational performance, have better customer engagement, and gain cost efficiencies by effectively managing patients through better decision making.
- Using IoT connected devices is likely to provide quality care while not directly touching the patients. It assists in saving about one-third of medicines from being spoilt before use.
- While performing clinical trials, embedded and wearable medical devices help trial administrators to better understand the risks of specific drugs and their efficacy. Along with gaining a better understanding of the subject’s response, it also enables them to take proactive action when a negative outcome is predicted or identified.
- Advancements in videoconferencing, telemedicine, and IoT is expected to provide numerous opportunities to healthcare professionals, as they can interact with patients directly, eliminating the travel time required to visit in person
- The impact of this driver is expected to be high during the forecast period. Adoption of connectivity platforms for IoT devices is increasing across the globe, owing to increase in demand for IoT connected devices across the healthcare sector. This is expected to boost the global connectivity platforms for IoT devices market in the next few years.
Security and Privacy Concerns Expected to Hamper the Connectivity Platforms for IoT Devices Market
- Increasing data sharing and connectivity can lead to heightened vulnerability to cyber-attacks which leads to security and privacy concerns. Cyber-attacks damage the physical systems and causes huge financial loss for enterprises.
- Therefore, security and privacy concerns are expected to hamper the connectivity platforms for IoT devices market.
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North America to Account for Major Share of the Global Connectivity Platforms for IoT Devices Market
- In terms of region, the global connectivity platforms for IoT devices market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global connectivity platforms for IoT devices market during the forecast period due to increasing adoption of cloud computing across various industries. Europe is expected to follow North America in terms of share of the global connectivity platforms for IoT devices market from 2020 to 2030.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period due to increasing demand for cellular connectivity for IoT-connected devices, specifically in India, Japan, and China.
Key Players Operating in the Global Connectivity Platforms for IoT Devices Market Include:
- 1NCE GmbH
- Aeris Communications Inc.
- Avnet, Inc.
- Cisco Corporation
- Comarch Inc.
- Emnify GMBH
- Ericsson Inc.
- Hewlett Packard Enterprises (HPE)
- Huawei Technologies Co., Ltd.
- KORE Wireless Group
- MAVOCO AG
- Stream Technologies
- Swisscom AG
- Vodafone Limited
- ZTE Corporation
Global Connectivity Platforms for IoT Devices Market: Research Scope
Global Connectivity Platforms for IoT Devices Market, by Component
- Consulting & Integration
- Support & Maintenance
Global Connectivity Platforms for IoT Devices Market, by Type
Global Connectivity Platforms for IoT Devices Market, by Application
- SIM & Subscription Management
- Inventory Management
- Billing Management
- Advanced Data Routing
- Real-Time Reporting
- API (Application Program Integration)
- Others (Security, etc.)
Global Connectivity Platforms for IoT Devices Market, by End-user
- Transportation & Logistics
- Energy & Utilities
- Media & Entertainment
- Others (Aviation, Education, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.