Report: IoT platform revenues will grow to €2.4B worldwide in 2020

The global market for third-party Internet of Things (IoT) platforms will show solid growth in the next few years, according to a new research report from the analyst firm Berg Insight. Total IoT platform revenues are forecast to grow at a compound annual growth rate (CAGR) of 32.2 per cent from €450 million ($503 million) in 2014 to €2.4 billion in 2020. Third-party IoT platforms are relatively new in the market and display a great diversity in terms of functionality and application areas. Broadly speaking, most IoT platforms fall into one of the following three categories: connectivity management platforms, device management platforms and application enablement platforms. These platforms enable companies and organisations to develop and deploy IoT solutions faster and at lower cost by offering more standardised components that can be shared across multiple solutions in many industry verticals. Release