Sun. Jan 24th, 2021

Internet of Things (IoT) platforms are becoming a hub for connecting devices, sensors, networks, and services as well as providing a range of organizations with crucial data so they can drive more cash flow and stay ahead of competition.

In 2016, IoT platforms generated about $2 billion in revenue and is expected to grow to $83.4 billion by 2025, according to a study by MachNation.

Industries like manufacturing, agriculture, automotive, logistics, energy, healthcare, and transportation are relying on data gathered by IoT platforms to design more efficient products, improve business models, and increase productivity.

IoT platforms are sometimes called “middleware” because they handle everything in-between an end device and the application that’s built on top of it, which becomes difficult when you have millions of devices and applications, said Steve Hilton, co-founder and president of analyst firm MachNation.

Many of these IoT platforms are considered application enablement platforms (AEPs). According to Hilton, AEPs are a combination of data management platforms and device management platforms.

Data management platforms handle all of the data and analytics coming in from connected devices. Device management platforms focus on the lifecycle management of connected devices, so it makes sense that these two are often paired together. There are also connected device platforms (CDPs), which primarily manage the connectivity of the device.

“When it comes to picking an IoT platform, it’s like the Wild West,” said Strategy Analytics Analyst Chris Ambrosio. “It all depends on what the customer needs, and each platform can be applied to different use cases.”

The IoT platform space is highly fragmented. In fact, some estimates indicate there are more than 350 different dedicated IoT platforms across different industry verticals. SDxCentral has narrowed its list to these 10 companies and platforms that we think are making the most inroads in IoT right now.

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