The global Internet of Things (IoT) Cloud Platform market size is expected to grow from $6.4 billion in 2020 to $11.3 billion in 2025 with an average annual growth rate (CAGR) of 12% over the forecast period. The main factors expected to drive the growth of the IoT cloud platform market are the proliferation of IoT devices, the need to improve operational efficiency, a sharp decrease in the cost of IoT-based sensor connection hardware, and the emergence of Internet Protocol Version 6 (IPv6). However, the lack of technically skilled workforce and the complexity of managing unstructured data are factors hindering the growth of the IoT cloud platform market.
A full report of IoT Cloud Platform Market is available at: https://www.orionmarketreports.com/iot-cloud-platform-market/11551/
IoT Cloud Platform Market Segmentation
By Offering
Platform
• Device Management
• Connectivity Management
• Application Enablement
Service
• Professional Services
• 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 (Smart Education, Smart Agriculture, Smart Hospitality, Connected Banking, telecom, and Security and Emergency)
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