Internet of Things(IoT) cloud platform market is anticipated to exhibit a considerable growth during the forecast period. An IoT platform is a multi-layer cloud technology that facilitates automation, straightforward provisioning, and management of connected devices within the universe of IoT. The primary function of the IoT cloud platform is to grasp a significant volume of data from applications, customers, devices, and websites and refine such data for generating real-time responses. With the growing digitalization across the globe, rising adoption of connected and intelligent devices is a major factor fueling the growth of the global IoT cloud platform market.
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IoT devices are the devices that consist of multiple sensors that are connected to the cloud mainly through several gateways. The sensors enable the devices to generate information about a physical event or state by measuring most of the things in their surroundings including temperature, sound, light, motion, orientation, humidity, pressure, and heat rates among others. Advancement in sensor technology has made them appropriate for their application in healthcare, automobile, telecommunication, and retail among others. The growing trend to use smart wearable for regulating the health of individuals is anticipated to make a significant contribution to the growth of the global IoT cloud platform market.
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Apart from smart wearables in healthcare sector, sensors are rapidly adopted in the automotive sector. The technically advanced cars are seen with various inbuilt sensors. Increasing deployment of advanced driver-assistance systems (ADAS) and infotainment systems in the vehicle is contributing to the high adoption of sensor technology in vehicles. The retail sector is using sensors to gather data related to customer’s regarding total time spent in the store and the staying time at particular product aisles. With the several benefits that sensors offer, they are highly utilized across the various industrial sectors thereby, driving the growth of the global IoT cloud platform.
Recent Activities
In February 2018, Northwestern University engineers and the Shirley Ryan AbilityLab, a research hospital in Chicago had developed a connected ECG sensor patch that facilitates clinicians to monitor stroke patients in a better manner. This would enable IoT platform deployment in healthcare, thereby augmenting the market growth.
Current Market trends covered in the market report
- The paradigm shift from service-centric to server-centric population
- Significant adoption of diversified cloud services across the globe
- The risk associated with data privacy to restrain the market growth
- Numerous applications in end-user industry are a major market opportunity
- Growing adoption of smart devices driving the market growth
Internet of Things (IoT) Cloud Platform Market Segmentation
By Deployment Model
- Public
- Private
- Hybrid
By Platform
- Drug Discovery
- Connectivity management
- Device Management
- Application Enablement Platform
By Application
- Industrial Automation
- Healthcare
- Logistics
- Retail
- Others
Internet of Things (IoT) Cloud Platform Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- MiddleEast and Africa
Company Profiles
- Altair Engineering, Inc.
- Amazon Web Services, Inc.
- Applied Informatics GmbH
- Bosch Software Innovations GmbH
- Cisco Systems, Inc.
- CloudPlugs, Inc.
- General Electric Co.
- Google, LLC
- IBM Corp.
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