IOT Platform Market Share 2018 | Internet of Things Platform Market Trends and Competitors Investigation | Application, Technology and Analysis Report by 2022

“IOT Platform Market”
IOT Platform Market, by Deployment (On Cloud, On Premise, Hybrid), by Application (Device Management, Database Management, Processing, Analytics), By End Users (Manufacturing, BFSI, Smart Cities & Homes, Telecommunication, IT) – Forecast 2016-2022

Market Highlight:

IOT or “Internet of Things Platform” is often an ambiguously used term.  To make it simpler – the purpose of any IOT device is to connect with other IOT devices and applications (cloud-based mostly) to relay information using internet transfer protocols. The gap between the device sensors and data networks is filled by an IOT Platform. Such a platform connects the data network to the sensor arrangement and provides insights using backend applications to make sense of plethora of data generated by hundreds of sensors.

The Scholar of Market Research Future makes it further easier for us to understand framing it into just one liner – “IOT Platform is a medium between the applications and services which are connected with the real world.” 

With their unique quality of simplifying the Market Reports, “Market Research Future” presents an Exclusive Report on the “Global IOT platforms Market.”

IoT platform enable enterprises by helping them create and manage applications, configure analytics, data aggressive and storage and connectivity management. Which led to major adoption of IoT technology among small and large enterprises? IoT platform integrates various technologies such as data communication, hardware design and data storage. Global market of IOT has generated a huge amount of revenue for the companies which are operating in this segment and every service or system which is being connected with IOT needs to have a stable and secure platform. IOT Platform eases enterprises work by connecting them with the source of knowledge without any difficulty.

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Major Key Players:

PTC (U.S.),

Amazon (U.S.),

Microsoft (U.S.),

Google (U.S.),

Davra Networks (Ireland),

Cisco Systems, Inc. (U.S.),

SAP SE (Germany),

General Electric (U.S.),

AT&T (U.S.),

Huawei Technologies Co. Ltd. (U.S.),

IBM (U.S.),

Wipro (U.S.)

This IOT Platform Market is expected to grow at CAGR of ~33% and will rise to the market size of US ~$1799 million by the end of forecast period.

Industry News

May 23, 2017 – PTC a prominent player in IoT Platform market announced the launched of its newest version of its Industrial Internet of Things (IoT) platform – ThingWorx 8. With this update, ThingWorx evolves into a more robust, comprehensive industrial IoT technology offering for businesses looking to accelerate industrial IoT value. The company expands its Industrial IoT Technology Offering with the Launch of ThingWorx 8

Nov. 29, 2017 – Amazon Web Services, Inc. (AWS), an company, announced six significant services and capabilities for connected devices at the edge. Amazon FreeRTOS is an operating system that extends the rich functionality of AWS IoT to devices with very low computing power, such as lightbulbs, smoke detectors, and conveyor belts.

May 10, 2017 – Microsoft announced new Azure data and cloud services to help developers quickly modernize their existing apps, new AI and Azure services that allow developer to more easily build intelligent apps, with understanding and natural user interaction capabilities, and showcased new data, IoT edge and AI services built for a future with an intelligent cloud and intelligent edge.

September 27, 2017-  Google a major player in IoT Platform Market, announced that at Google I/O, they introduced Google Cloud IoT Core, a fully managed service on Google Cloud Platform (GCP) to help securely connect and manage IoT devices at scale. Since then, many customers across industries such as transportation, oil and gas, utilities, healthcare and ride-sharing have used the service and provided the company with insightful feedback.

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Regional Analysis:

North America is dominating the market of IOT Platform due to the presence of the global players in this region as well as high technological advancement. North America is expected to dominate the market throughout the forecast period whereas Asia-Pacific has emerged as fastest growing market and expected to be the second biggest market by the end of forecast period. Currently Europe holds second position in the market but expected to be dominated by Asia-Pacific by the end of forecast period. 

Intended Audience:

  • Software Companies
  • Data Storage Companies
  • Data Storage Service Providers
  • Cloud Service Providers
  • Cloud Service Management Services
  • Software Companies

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