IOT Platform is a medium between the applications and services which are connected with the real world. Growing industry and 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 is an option to the companies to get connected with the source of knowledge without having any difficulty. Growing the size of Database and the need of access to the right data in the fraction of time is possible with IOT. Global IOT Platform Market has been growing rapidly and this market is seeing tremendous opportunities in the upcoming future as the size of the data is increasing continuously. This 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.
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.)
According to MRFR, 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.
The Market of IoT Platform appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
North America is dominating the Global IoT Platform Market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. Due to presence of high number of IoT solution providers and rising adoption of innovative technologies. However, it is anticipated that the market in Europe will exhibit higher growth rate compared to the North America market in the near future. Further, the growing adoption of digitalization in developing countries such as Australia, China, and Japan, Asia Pacific market is intended to show an impressive growth in the coming years. Asia-Pacific has emerged as fastest growing market and expected to be the second biggest market by the end of forecast period. In addition, countries such as Argentina and Brazil are aiding the Latin America market to expand. The increasing rate of IoT adoption over the oil and gas industry and throughout the government sector is most likely to help the Middle East and Africa sector grow.
The IoT Platform Market can be classified into 5 key segments for the convenience of the report and enhanced understanding;
Segmentation by Platform: Comprises Connectivity, Infrastructure as a Service and Software Platform
Segmentation by Deployment: Comprises cloud, on premise and hybrid
Segmentation by Application: Comprises Device Management, Database Management, Processing, and Analytics among others.
Segmentation by End-User: Manufacturing, BFSI, Smart Cities & Homes, Telecommunication, IT among others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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- Software Companies
- Data Storage Companies
- Data Storage Service Providers
- Cloud Service Providers
- Cloud Service Management Services
- Software Companies
LIST OF TABLES
TABLE 1 GLOBAL IOT PLATFORM MARKET, BY DEPLOYMENT
TABLE 2 GLOBAL IOT PLATFORM MARKET, BY APPLICATION
TABLE 3 GLOBAL IOT PLATFORM MARKET, BY END USERS
TABLE 4 GLOBAL IOT PLATFORM MARKET, BY REGIONS
TABLE 5 NORTH AMERICA IOT PLATFORM MARKET, BY COUNTRY
TABLE 6 NORTH AMERICA IOT PLATFORM MARKET, BY DEPLOYMENT
TABLE 7 NORTH AMERICA IOT PLATFORM MARKET, BY APPLICATIONS
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 GLOBAL IOT PLATFORM MARKET: BY DEPLOYMENT (%)
FIGURE 3 GLOBAL IOT PLATFORM MARKET: BY APPLICATION (%)
FIGURE 4 GLOBAL IOT PLATFORM MARKET: BY END USERS (%)
FIGURE 5 GLOBAL IOT PLATFORM MARKET: BY REGION
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