The Ever-Changing IoT Standards Landscape: What Will 2019 Hold?

IoT Analytics, one of the most active market insights and competitive intelligence firms covering and reporting on the Internet of Things (IoT), M2M, and Industry 4.0, earlier this year published two comprehensive market report updates on IoT Platforms, including a 193-page report titled IoT Platforms Market Report 2018-2023. Their research indicated the IoT Platform market will continue to accelerate in as more businesses prioritize their transformation into IoT data-driven companies. Spending on IoT Platform-related software and services for connected business solutions is forecast by IoT Analytics to grow at a rate of 39% per year until 2023, in line with estimates from other firms including Gartner and IDC. “The IoT Platforms report forecasts…annual spending surpassing US$22 Billion by 2023,” IoT Analytics wrote, with numbers “based on the IoT Platforms related revenue of the leading companies in the field, across 11 industry segments (Agriculture, Connected Buildings, Connected Car, Energy, Health, Manufacturing, Public services, Retail, Smart supply chain, Transportation, and Other). The market is broken down into 7 regions (Asia, Europe, North America, MEA, South America, Oceania, Rest of World), 5 platform types (cloud platforms, application enablement platforms, device management platforms, connectivity platforms, advanced analytics platforms), 4 deployment types (on-premise, hosted private cloud, hybrid cloud, public cloud), and 2 revenue types (platform software sales vs services sales).”