IoT Middleware Market Size (2024 - 2029)

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.

IoT Middleware Industry Segmentation

IoT middleware is software that interfaces components and sensors, making communication possible among several IoT elements. Middleware is part of the architecture enabling connectivity for massive numbers of diverse things by offering a connectivity layer for sensors and for the application layer that delivers services that ensure effective communications among the software.

The IoT middleware market is segmented by platform (application enablement, device management, connectivity management), end-user industry (manufacturing, healthcare, energy and utilities, transportation and logistics, agriculture, and Other End-User Industries), and geography (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa). 

The market sizes and forecasts are provided in terms of value in USD for all the above segments.