QKS Group has recognized Soracom as both a Leader and an Ace Performer in the 2025 SPARK Matrix for IoT Connectivity Management Platforms (IoTCMP). Within the SPARK Matrix framework, the Leader category highlights companies that demonstrate exceptional performance in both Technology Excellence and Customer Impact. These organizations are known for delivering advanced, scalable, and forward-looking solutions. The Ace Performer distinction is awarded to vendors that have shown outstanding operational success over the past year, particularly in areas such as revenue growth, strategic partnerships, and customer acquisition.

According to Ignatius Daniel T, Principal Analyst at QKS Group, Soracom has strengthened its position in the IoTCMP market through its cloud-native, API-driven platform architecture, which aligns closely with the evolving needs of modern IoT deployments. The platform integrates global multi-carrier cellular connectivity with services that simplify secure device-to-cloud communication, protocol management, and private cloud integration within a unified control environment.

This approach enables enterprises to achieve greater flexibility, accelerate deployment timelines, and reduce operational complexity across widely distributed IoT ecosystems. Soracom’s innovations, including SGP.32-compliant eSIM orchestration, satellite connectivity capabilities, and cloud-integrated services, further demonstrate its balance of technological innovation and strong execution in the rapidly developing IoTCMP sector.

QKS Group describes an IoT Connectivity Management Platform as a centralized solution designed to oversee and manage IoT device connectivity across multiple network types such as cellular, Wi-Fi, LPWAN, and satellite networks. These platforms allow organizations to deploy, monitor, and manage IoT devices while providing real-time insights into network conditions, device performance, and data usage.

Typical functionalities include device onboarding, SIM lifecycle management, diagnostic monitoring, security enforcement, and intelligent network selection to ensure compliance with regional and regulatory requirements. Modern CMPs also support multiple communication protocols and leverage analytics and AI-driven capabilities to optimize connectivity, anticipate issues, and enhance network reliability, making them essential for scaling secure and efficient global IoT operations.

Soracom differentiates itself in the market through a software-defined and programmable connectivity approach rather than relying on traditional carrier-centric models. Its market strength comes from combining extensive global cellular coverage with a flexible service layer that enables secure data routing, cloud integration, and centralized connectivity management across distributed IoT environments.

Recent developments from the company highlight an intentional expansion of its platform capabilities, including support for IP-based devices via Arc, SGP.32-compliant eSIM orchestration through its Connectivity Hypervisor initiative, and integrated non-terrestrial network connectivity through its collaboration with Skylo. These advancements indicate that Soracom is evolving beyond a conventional connectivity management provider and positioning itself as a broader enabler of scalable and adaptable IoT operating environments. This strategy aligns well with enterprises seeking centralized management, agile deployment capabilities, and stronger cloud-to-edge connectivity frameworks for their IoT initiatives.

The SPARK Matrix report from QKS Group offers an in-depth assessment of global market trends, competitive dynamics, and the overall vendor landscape within the IoT CMP industry. The report also includes comparative rankings of IoT CMP providers and provides strategic insights that help organizations assess vendor strengths, market positioning, and competitive differentiation.

According to MarketsandMarkets’ report titled “Data Center Liquid Cooling Market by Component (Solution and Services), End User (Colocation Providers, Enterprises, and Hyperscale Data Centers), Cooling Medium, Data Center Type, Type of Cooling, Enterprise, and Region – Global Forecast to 2033,” the global market for data center liquid cooling is valued at approximately USD 4.07 billion in 2026 and is expected to grow significantly to USD 27.65 billion by 2033, registering a compound annual growth rate (CAGR) of 31.5% during this period.

Market Size & Forecast

Key Trends and Insights
The market is set for strong expansion, largely driven by the rising demand for artificial intelligence (AI) workloads and high-performance computing (HPC). Increasing rack densities—often reaching 30–50 kW—are making traditional air-based cooling systems less effective. Consequently, advanced solutions such as direct-to-chip cooling, immersion cooling, and cold plate technologies are becoming increasingly critical.

Small and mid-sized data centers are expected to experience the fastest growth, with a projected CAGR of 33.9%, as they increasingly adopt liquid cooling to handle high-density computing requirements. Among cooling technologies, immersion cooling is anticipated to lead growth with a CAGR of 34.1%.

In terms of components, solutions dominate the market, accounting for an estimated 63.5% share. By end user, hyperscale data centers hold the largest share at 76.4%, reflecting their massive infrastructure and performance demands.

Within enterprise segments, industries such as BFSI, IT & telecom, healthcare, and retail are key adopters, with IT & telecom projected to grow the fastest at a CAGR of 29.6%, fueled by 5G expansion, cloud services, and AI-driven applications.

Regarding cooling mediums, dielectric fluids—especially in immersion cooling systems—are gaining popularity due to their superior heat dissipation capabilities. Regionally, Asia Pacific is forecast to grow at the highest rate (32.8% CAGR), while North America is expected to maintain the largest market share.

Growth Drivers
The surge in hyperscale and edge data centers, driven by technologies like 5G, IoT, and cloud computing, is accelerating the need for efficient cooling solutions. Regulatory initiatives such as the EU Energy Efficiency Directive and the rising global energy consumption of data centers—expected to reach 8% of total energy use by 2030—are also pushing adoption. Advances in dielectric fluids and two-phase cooling technologies are further shaping the future of the market.

Segment Highlights

Regional Outlook
North America is expected to lead the market, supported by the expansion of hyperscale facilities, strong adoption of AI workloads, and stringent environmental regulations. Increasing power demand—projected to reach 35 GW in the U.S. by 2032—along with a surge in data center construction, is making energy-efficient cooling solutions essential.

Competitive Landscape
Major companies operating in this market include Vertiv Group Corp., Schneider Electric, Super Micro Computer, Inc., Rittal GmbH & Co. KG, Green Revolution Cooling, Submer, LiquidStack, Iceotope, CoolIT Systems, and several others. Emerging players such as Giga-Byte Technology, TAS, and Teimmers are also gaining traction by focusing on niche segments and innovative solutions.