The device connection platforms are primarily used for automating the M2M (Machine to Machine) connectivity as the industries are focusing on implementing the automation in the platforms. The deployment of the device connection platforms is rising due to its ability to enhance the IoT enabled architectures. The enterprises are increasingly preferring the deployment of the device connection platform as they can be provided with the various technologies such as Big Data, IT cloud platforms, number of intelligent devices and other analytics. From the past few years, the importance of the device connection platform is increasing rapidly as this platform is acting as a connecting bridge between connected devices and higher layers of architecture. With the rapid globalization of the businesses, the network connections among the different software, machines, and other tools are growing along with the emerging complexities among them and for maintaining such complexities such platforms are used by businesses. Also, businesses are focusing on deploying the device connection platform as a competitive advantage over the others.
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Global Device Connection Platform Market: Drivers and Restraints
The increasing demand for the device connection platforms by the businesses is primarily driven by the increasing technology-based deployment such as Big data, IoT, business analytics, cloud-based technology, and others in the execution of the business operations. The key functionalities of the device connection platforms such as the platform can convert the raw data information into the usable information for the businesses using the applications developed in the device connection platforms. Also, the platform acts as an insulation between internal architecture and direct devices connected to it due to this the businesses are becoming dependent on the device connection platforms globally. These benefits are becoming one of the prime factor responsible for the increasing demand of the device connection platforms globally. On the other hand, issues in the compatibility in networks, complexity in an ecosystem and adequate advancement in technology are one of the key challenges faced by the device connection platforms.
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Global Device Connection Platform Market: Segmentation
The global market for the Device Connection Platforms is segmented on the basis of the industries using the Device Connection Platforms.
Segmentation on the basis of industry
The Device Connection Platforms are offered as the different type of deployment options for the end users. These deployments are offered based on the end user requirement as per the available resources with the organizations. The segmentation on the basis of the industry verticals includes the retail, Oil & Gas, Manufacturing industry (industrial Machines), Automotive, Healthcare, Energy, Automotive, and others.
Global Device Connection Platform Market: Region-wise outlook
The global market for Device Connection Platform is divided on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Among these regions, the North America region dominates the market in terms of revenue generation due to the large presence of the vendors as well as users of the Device Connection Platforms. Also, increasing technological advancements in communication and network infrastructure. The Western Europe follows the North America market due to the presence of developed countries and rising focus on the increasing business automation in this region followed by Eastern Europe. The APEJ region is expected to grow at highest CAGR in forecast period due to increasing focus of the SME’s in this region to improve the workplace productivity by deploying the M2M communication platforms in developing countries such as India this trend is also followed by Japan region. The MEA and Latin America region are expected to grow at the moderate CAGR.
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Global Device Connection Platform Market: Industry Key Players
The global vendors for Device Connection Platform include:
The key players considered in the study of the Device Connection Platform market are Erricson, ILS Technologies LLC, ThingWorx Inc., Sierra Wireless, KORE Wireless Group, Inc., Cisco Systems, Inc., Tridium Inc., and others. The key players are constantly focusing on developing a new functionality and adding new features to the existing products. Also, these players are focusing on forming partnerships and geographical expansions.
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