• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

IoT Technology Platforms Market Soars to a Whopping USD 1.9 Billion in 2019; Will Grow at a CAGR of 35% to Reach USD 9+ Billion by 2024: Says Zinnov

~ The top 200 Global Enterprises spent 35% of their digital program outlays on IoT-centric applications

Zinnov (PRNewsfoto/Zinnov Management Consulting)

News provided by

Zinnov

Sep 25, 2019, 09:25 ET

Share this article

Share this article


SAN FRANCISCO, Sept. 25, 2019 /PRNewswire/ -- Zinnov, a global management and strategy consulting firm, released the first-of-its-kind global ratings of Internet of Things (IoT) Platforms, today. The study titled, 'Zinnov Zones for IoT Platforms – 2019,' is aimed at helping enterprise customers build a deep understanding of the IoT Platform landscape and enable them to make informed decisions on selecting the right platform partners for their IoT initiatives.

Overall Zinnov Zones Ratings for IoT platforms
Overall Zinnov Zones Ratings for IoT platforms

Zinnov defines the IoT platform spend as the enterprise spend on COTS (commercial off-the-shelf) IoT platforms, excluding any spend made on the development of proprietary IoT platforms. This comprehensive study covered 30 Global IoT Platform Companies across 3 categories – Application Enablement Platform (AEP), Device Management Platform (DMP), and Connectivity Management Platform (CMP). Within AEP, Zinnov further assessed use cases including Industry 4.0, Connected Products, Connected Assets, Connected Logistics, and Connected Workers.

The study estimates that the worldwide enterprise investments in buying IoT platforms will reach USD 1.9 Billion in 2019, and is expected to grow at a staggering 35% CAGR to cross USD 9 Billion by 2024. The Industrial, Public Sector, Automotive, Retail & CPG, and Energy & Utilities are the top 5 verticals focused on IoT and account for ~65% of the total enterprise IoT spend in 2019. Other industries such as Healthcare & Life Sciences, Telecom, and Travel & Hospitality are also demonstrating rising adoption of IoT with an uptick in proofs of concept. The study also revealed that the top 200 global enterprises spent 35% of all digital program outlays on IoT-centric applications, marking the growing importance of IoT as a core business enabler. The study also found that 45% of these enterprises have set up dedicated IoT Centers of Excellence (IoT COE) to support existing use cases and build reusable IPs.

The 30 global IoT platforms that Zinnov evaluated as part of this study were found to have cumulatively invested over USD 3.5 Billion in 2019 to scale their IoT businesses. 2/3rd of these platforms launched IoT applications marketplaces to expand their market reach, while 4/5th of them focused on building native AI/ML capabilities on the back of acquisitions in the last 24 months. Based on the data, Zinnov believes that the next frontier of growth is likely to be catalyzed by 5G, with more than 65% of the analyzed IoT platform companies having already started experimenting with 5G-led IoT use cases, with over 45% of participants having 5G talent pool of more than 50 employees and almost 60% forging partnerships specifically for innovation around 5G.

Zinnov also estimates that while IoT platform companies have found initial traction in the US and European markets, it is the markets in the APAC region that are likely to drive the next wave of growth, providing ~50% market contribution in the next 5 years. Rising APAC-centric investments in IoT engineering by top platform providers, increased focus by governments on smart cities and smart manufacturing, along with rapidly growing start-up ecosystems are the major enablers for this evolution.

'Zinnov Zones for IoT Platforms' rating analyzed 30 Global IoT Platform companies on their 'IoT Prowess' and 'Scalability,' to position them in 4 Zinnov Zones ('Nurture Zone,' 'Breakout Zone,' 'Execution Zone,' and 'Leadership Zone'). Apart from the rating across the 3 layers – AEP, DMP, CMP, the analysis also provides a leadership graph of AEP companies across 5 categories – Industry 4.0, Connected Products, Connected Assets, Connected Logistics, and Connected Workers. Microsoft, PTC/Rockwell Automation, AWS, and IBM have been identified as leaders for AEP. AWS, Bosch, PTC/Rockwell Automation, and Microsoft are placed in the leadership zone for DMP, while Vodafone, Huawei, Telit, and AT&T are positioned as leaders for CMP.

Speaking at the launch of the study, Praveen Bhadada, Partner & Global Head – Digital Transformation, Zinnov, said, "Globally, over 750 companies including tech giants, services companies, application vendors, OT players, hardware OEMs, and start-ups are offering IoT platforms to their customers. While the supply market is becoming increasingly competitive, the demand market is yet to see the rapid scaling of IoT deployments at an enterprise level. Our analysis suggests that 75% of all IoT platform revenue comes from first-time buyer enterprises. Moreover, 50% of the top 200 companies are also building their own IoT platforms instead of buying an off-the-shelf solution which is emerging as a big concern for IoT platform players. We strongly believe that IoT platform companies will need to re-align their sales strategy to partner with customers' Digital and IoT-centric programs early on and co-create the roadmap to scale enterprise IoT investments."

About Zinnov

Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in Santa Clara, Houston, Bangalore, and Gurgaon. Over the past 17 years, Zinnov has successfully consulted with over 250+ Fortune 500 customers to develop actionable insights that help them in their transformation journeys. With core expertise in Product Engineering and Digital Transformation, Zinnov assists clients by:

  • Providing research and strategy consulting for Technology Service Providers in the areas of Product Engineering and Digital Transformation;
  • Enabling companies to develop and optimize a global engineering partner strategy to achieve higher throughput, innovation, productivity, and cost savings;
  • Growing revenue for companies' products and services in India and other emerging markets;
  • Helping MNCs expand and/or consolidate their globalization footprint.

With their team of experienced professionals and research teams, Zinnov serves clients from across software, semiconductor, consumer electronics, travel and hospitality, automotive, storage, telecom & networking, healthcare, banking, financial services, and retail verticals in US, Europe, Japan, and India.

For more information, visit http://zinnov.com.

Media contact
Nitika Goel
Chief Marketing Officer, Zinnov
[email protected]
+1-408-716-8432

SOURCE Zinnov

Modal title

Also from this source

Veteran Corporate Technology Strategist, Peter Kirkwood, joins...

Veteran Corporate Technology Strategist, Peter Kirkwood, joins...


Three of Zinnov's Senior Leaders recognized as Top Global...

Three of Zinnov's Senior Leaders recognized as Top Global...

Explore

More news releases in similar topics

  • Internet Technology
  • Telecommunications Industry
  • Computer Software
  • Computer & Electronics
  • Surveys, Polls and Research

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2022 Cision US Inc.