Information and Communication Technology IoT Cloud Platform Market is projected to grow up to 13.2% CAGR during the forecasting per...


IoT Cloud Platform Market is projected to grow up to 13.2% CAGR during the forecasting period 2021-2027.

IoT platforms are the essential component of the Internet of Things architecture that help to connect the physical and virtual worlds in order to enable object communication, assist application development, manage data flows, and provide basic analytics for connected IoT devices. It is based on a multi-layer technology that handles, processes, and transfers data to and from linked devices through the Internet. The proliferation of IoT devices, the desire to boost operational efficiency, the quickly reducing costs of IoT-based sensor connectivity hardware, and the emergence of Internet Protocol version 6 are all likely to fuel the growth of the IoT cloud platform market (IPv6). However, problems such as a lack of technically qualified labour and complexity in the handling of unstructured data are impeding the growth of the IoT cloud platform market. The studies discuss major advancements in the IoT cloud platform market, as well as organic and inorganic growth methods. Various businesses are focusing on organic growth tactics such as new launches, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth tactics observed in the market. The purpose of this study is to give an overview of the IoT cloud platform market, as well as extensive market segmentation by deployment model, platform, and application. During the projected period, the worldwide IoT cloud platform market is expected to rise rapidly. The report contains important statistics on the market position of the major IoT cloud platform industry companies, as well as key trends and opportunities in the IoT cloud platform market.

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Key Driving Factors: According to platform, the application enablement category is expected to increase at the fastest rate during the projection period.

The IoT cloud platform market is divided into three segments based on platform: device management, connection management, and application enablement. During the projection period, the application enablement segment is expected to develop at the fastest CAGR. The application enablement platform allows users to simply integrate IoT apps and services without jeopardising network access. Because the platform eliminates technological barriers, it enables businesses to receive benefit from IoT investments in less time.

Opportunities: In the IoT cloud platform market, there are significant prospects due to the rising need for IoT-enabled digital transformation of businesses, as well as the increasing demand for system integrators.

This report offers the major market player’s profiles, such as AWS (US), Microsoft (US), Google (US), Cisco Systems (US), IBM (US), Oracle (US), Salesforce.com (US), SAP (Germany), PTC (US), Samsung (South Korea), Bosch.IO (Germany), Autodesk (US), AT&T (US), Alibaba Cloud (China), Telit (UK), Siemens (Germany), GE Digital (US), Ubidots (Colombia), Zoho Corporation (US), and Particle (US).

Based on Application:  Because of the increasing usage of embedded sensors, the availability of fast cellular networks, and the increasing acceptance of wireless devices, the scope of IoT cloud platform applications in linked healthcare has grown significantly. While sensors and equipment communicate with one another, it enables healthcare organisations to streamline clinical operations, manage processes, and provide real-time patient care, even when operating from remote locations. The implementation of robust apps and connected technology is therefore the primary emphasis of healthcare organisations. Remote patient monitoring, healthcare workflow management, prescription management, and medical asset tracking are just a few of the many IoT applications that may be found in the connected healthcare environment.

The IoT Cloud Platform Market report has been categorized as below

By Offering

  • Platform

    • Device Management

    • Connectivity Management

    • Application Enablement

  • Service

    • Professional Services

      • Training and Consulting

      • Integration and Deployment

      • Support and Maintenance

    • Managed Services

By Deployment Type

  • Public Cloud

  • Private Cloud

  • Hybrid

By Organization Size

  • SMEs

  • Large Enterprises

By Application Area

  • Building and Home Automation

  • Smart Manufacturing

  • Smart Transportation

  • Connected Healthcare

  • Smart Retail

  • Smart Grid and Utilities

  • Others

By Region

  • North America

  •  Europe

  • Asia Pacific

  • Rest of World

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Published Date : July-2021