Connectivity Platforms for IoT Devices Market is Estimated to be driven By Innovation and Industrialization By 2020-2030

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Global Connectivity Platforms for IoT Devices Market – Introduction

  • Connectivity platforms for IoT devices majorly focus on the connectivity of connected IoT devices through telecom or cellular networks and non-cellular networks. Connectivity platforms are an essential component of the vast ecosystem of IoT-connected devices, which connect and support all components within the system. It helps simplify the management of devices; handles software/hardware communication protocols; collects and analyzes data; and augments the data flow and utility of smart applications.
  • Growing adoption of cloud computing is raising the adoption of IoT platforms as applications, if IoT-connected devices are directly connected to Internet.

Impact of Coronavirus (COVID-19) on the Connectivity Platforms for IoT Devices Market

Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) negatively impacts the connectivity platforms for IoT devices market. The COVID-19 pandemic has prompted various industries, such as manufacturing, aviation, and hospitality, to shut down their operations and follow guidelines of their respective governments to maintain social distancing, which is expected to restrain the connectivity platforms for IoT devices market.

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Increase in Demand for IoT Connected Devices across the Healthcare Sector to Drive the Global Connectivity Platforms for IoT Devices market

  • IoT connected devices in the healthcare sector are projected to offer an opportunity to tailor their cognitive data analysis platform by placing major emphasis on health-related services and products. This data analysis is expected to optimize organizational performance, have better customer engagement, and gain cost efficiencies by effectively managing patients through better decision making.
  • Using IoT connected devices is likely to provide quality care while not directly touching the patients. It assists in saving about one-third of medicines from being spoilt before use.
  • While performing clinical trials, embedded and wearable medical devices help trial administrators to better understand the risks of specific drugs and their efficacy. Along with gaining a better understanding of the subject’s response, it also enables them to take proactive action when a negative outcome is predicted or identified.
  • Advancements in videoconferencing, telemedicine, and IoT is expected to provide numerous opportunities to healthcare professionals, as they can interact with patients directly, eliminating the travel time required to visit in person
  • The impact of this driver is expected to be high during the forecast period. Adoption of connectivity platforms for IoT devices is increasing across the globe, owing to increase in demand for IoT connected devices across the healthcare sector. This is expected to boost the global connectivity platforms for IoT devices market in the next few years.

Security and Privacy Concerns Expected to Hamper the Connectivity Platforms for IoT Devices Market

  • Increasing data sharing and connectivity can lead to heightened vulnerability to cyber-attacks which leads to security and privacy concerns. Cyber-attacks damage the physical systems and causes huge financial loss for enterprises.
  • Therefore, security and privacy concerns are expected to hamper the connectivity platforms for IoT devices market.

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