The Global IoT cloud Market is expected to grow at a significant CAGR during the forecast period. IoT cloud platforms integrate the capabilities of IoT devices and cloud computing, which are offered as a service over an end-to-end platform. The Internet of Things cloud is a comprehensive collection of technologies for processing, connecting, storing, and analysing data both in the cloud and at the edge. The IoT cloud platform is made up of edge on-premises computing software with machine learning capabilities. The Internet of Things cloud platform is a fully managed cloud service. The platform is critical in handling all IoT and cloud operations-related tasks, such as data collection from IoT-enabled devices, data storage, and data analysis to get real-time insights. The platform is critical in handling all IoT and cloud operations-related tasks, such as data collection from IoT-enabled devices, data storage, and data analysis to get real-time insights.
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The rising rate of smart device adoption is a key driver, and as a result, the global market for IoT cloud platforms is expected to develop rapidly. Furthermore, the ease of deployment and low cost of cloud data storage are expected to boost the growth of the overall IoT cloud platform market. The rising need for system integrators is anticipated to boost the IoT cloud platform market forward. One of the key factors driving the growth of the IoT cloud platform market is the increasing number of IoT devices in various application sectors.
In February 2020, Microsoft Azure Security Centre for IoT, expanded support for Azure Real-Time Operating System (RTOS) in addition to Linux (Ubuntu, Debian) and Windows 10 IoT Core Operating Systems. In January 2020, AWS collaborated with BlackBerry to create a safe, secure, and intelligent connected car software platform for in-vehicle apps.
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Market Coverage
- Segment Covered-
o By Offering Type
o By Deployment
o By Organization Size
o By Application
- Region covered
o North America
o Europe
o Asia-pacific
o Rest of world
Competitive Landscape- Amazon Web Services, Inc., Microsoft Corporation, Google LLC, Cisco Systems, Inc., IBM Corporation, and Oracle Corporation, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
The Global IoT cloud Market Segmentation
- 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
- Building and Home Automation
- Smart Manufacturing
- Smart Transportation
- Connected Healthcare
- Smart Retail
- Smart Grid and Utilities
- Others (Smart Education, Smart Agriculture, Smart Hospitality, Connected Banking, telecom, and Security and Emergency).
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