In terms of revenue, the global IoT cloud platform market was calculated to be US$ 2.42 billion in 2017 and is anticipated to be US$ 8.64 billion by 2022.
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The report "Internet of Things (IoT) Cloud Market by Platform, Deployment Model (Public, Private & Hybrid), Organization Size , Application Area, Service, and Region - Global Forecast to 2026",
The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data, creating opportunities for more direct integration of the physical world into computer-based systems, resulting in efficiency improvements, economic benefits and reduced human intervention.
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Global IoT Cloud Platform Market Size, By Type
IoT device management is the process of authenticating, provisioning, configuring, monitoring and maintaining the device firmware and software that provides its functional capabilities. Effective device management is critical, to establish and maintain the health, connectivity, and security of IoT devices.
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IoT application vendors typically provide comprehensive device management with their solutions. The increasing number of IoT devices in industries such as healthcare has driven the IoT cloud platform market.
However, increasing cases of confidential data leakage has cast doubts over cloud platforms security. This can prove to be an imminent threat in the widespread adoption of IoT cloud platforms.
The emergence of small and medium businesses has been witnessed globally. These businesses opt for cloud platform to store their data in order to minimize their operation cost in terms of procurement and maintenance of storage devices.
IoT Cloud Platform Market, By Region
Major technological companies are located in North America. They are concentrated in regions such as Indiana, Illinois, California and Massachusetts.
The region is home to many software companies such as Google, IBM, Fujitsu, Intel. All these companies have developed their own cloud-based solutions.
They are also the leading providers of IoT devices. This keeps the region ahead of others.
The development of startups in this region has also propelled the growth of IoT cloud platform market.
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Top Key Players for IoT Cloud Platform Market:
Companies such as Intel Corporation (US), SAP SE (Germany), Cisco Systems, Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), International Business Machine (IBM) Corporation (US), PTC Inc.
(US), Google Inc. (US), Hewlett Packard Enterprise (US), Amazon Web Services Inc. (US), Bosch Software Innovation GmbH (Germany), and General Electric (US) have adopted partnerships and collaborations as their key strategy to expand their market reach.
Some of the primary players of Global IoT Cloud Market are Amazon Web Services, Google Inc., International Business Machines Corporation (IBM), Microsoft Corporation, Salesforce.com Inc., General Electric, PTC, SAP SE, Telit, Scinan IoT, and Samsung amongst others.
Scope of the Report:
The research report segments the Internet of Things market into the following submarkets:
By Software Solution
- Real- time Streaming Analytics
- Security solution
- Data management
- Remote monitoring system
- Network bandwidth management
- Device management
- Application management
- Network management
- Professional service
- Deployment and integration
- Support and maintenance
- Consulting service
- Managed service
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The report provides both, qualitative and quantitative research of the market, as well as provides strategic insights along with developments that are being adopted by the key contenders. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players.
The key business strategies such as mergers and acquisition (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
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