Market Snapshot
Market Research Future (MRFR) in its report on the IoT platform market 2020 reveals COVID-19 impact analysis on the market. As per the MRFR study, the worldwide IoT platform market can rise at about 15.20% CAGR across the study period. As per MRFR analysis, the expansion of the IoT platform market analysis can value at USD 22.64 Bn at the conclusion of the assessment period.
The growing utility of IoT platform as it works on a multi-layer technology to process, manage, and transfer information across connected devices through the Internet can boost the expansion of the IoT platform market across the analysis period. The ease of availability of different IoT-compatible hardware devices, such as wearable fitness devices, automotive telematics units, industrial control systems, and drone units can support the expansion of the market in the years to come. The rise in the utility of hardware components in cloud environment via flexible connectivity options, secure network, and data processing components can impel the expansion of the market across the study period.
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Segment Study
The segment study of IoT platform market is done by application, platform, deployment, and end user.
The platform based IoT platform market segments are IaaS backend, connectivity/M2M platform, consumer/enterprise software extension, and hardware-specific software platform. The high utility of connectivity/M2M platform can cause the expansion of the segment across the study period. The hardware-specific software platform segment at 31.5% CAGR across the study period.
The deployment based segmenst of the IoT platform market segments are hybrid, on-premises, and cloud. The on-premises segment can acquire 38.5% share on the world market on the conclusion of the assessment period.
The Application-based IoT platform market segments are analytics, database management, device management, and processing. The device management segment can generate high value in the years to come. The analytics segment can thrive at 32.7% CAGR in the analysis period.
The End user-based, the IoT platform market segments are retail, manufacturing, healthcare, smart cities & homes, and others. The manufacturing segment can secure a considerable share of the market due to rise in smart cities and homes projects. The segment can rise at 29.6% CAGR across the evaluation period and the segment is likely to touch USD 19.20 Bn by the end of the forecast period.
Regional Analysis
North America IoT platform market is likely to hold the largest share of the market in years to come. The increase in adoption of cloud technology across different region spur the expansion of the market in the years to come. The rise in robust cloud infrastructure and growing utility of connected devices can boost the expansion of the market in the years ahead. High adoption of technical advancements, machine learning technologies, and artificial intelligence can promote the rise of the market across the analysis period. APAC and Europe are observed to experience similar growth drivers for the market. The rise in IoT platforms for its benefits, such as cross-device compatible and scalability and, along with ready-to-use features that boost the adoption of applications can impel the rise of the market across the study period. Increase in number of enterprises that can are using IoT platform to manage companies can spur the expansion of the market through the study period.
Companies Covered
MRFR registered some reputed names in the world IoT platform market, They are; AT&T Inc. (US), Amazon Web Services (US), IBM Corporation (US), General Electric (US), Google (US), Microsoft Corporation (US), Huawei Technologies Co. Ltd (China), Intel Corporation (US), Cisco Systems, Inc. (US), and Wipro Ltd (India) among others.
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Internet of things (IoT) platform Market is a medium between the services and applications which are connected with the real world.
The rapid increase in the use of internet and fast connectivity speed has driven the global IoT platform market.
It helps in monitoring, evaluating and controlling the main network connectivity.
IoT integrates technologies such as data storage, data communication, hardware design and mining which help the organization in decision-making power with high convenience, improved handling of emergencies, cost benefits, remote access and improvements in safety & security.IoT platform market is expected to grow at a CAGR of 28.4% in the forecast period of 2020 to 2027.
Data Bridge Market Research report on IoT platform market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.Get a Sample Copy of Global IoT platform market Report to Understand the Complete Insights @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-iot-platform-marketMarket Drivers and Restraints:On the basis of platform, IoT platform market is segmented into device management, connectivity management, and application enablement.Based on deployment, IoT platform market is segmented into public, private and hybrid.Based on organization size, IoT platform market is segmented into small and medium enterprise and large enterprise.Based on service, IoT platform market is segmented into professional services, training and consulting, integration services, support and maintenance, and managed services.Based on application, IoT platform market is segmented into home automation, wearable technology, smart city, industrial automation, connected transportation, healthcare, smart retail, smart agriculture, connected logistics, and others.The major players covered in the IoT Platform Market ForecastedThe major players covered in the IoT platform market report are General Electric, Google, Inc., Davra Networks, PTC, Telit Communications PLC, Gemalto, Alcatel-Lucent, Mnubo Inc., Zebra Technologies, AT Inc., Carriots, Comarch, Xively, Aeris Communications, Exositez, Ayla Networks, Relayr, Software AG, Bosch Software Innovations, Teezle Telematics India Pvt.
Ltd., Ericsson, Sierra Wireless, SORACOM Inc., Wind River, Magneto IT Solutions among other domestic and global players.
Open IoT Platform MarketIn this rapidly changing world of technology, open IoT platform market is projected to show major growth prospects during the forecast period.
An IoT platform combines several software functions into one solution to enable companies to develop and deploy IoT solutions faster, better and cheaper.As compared to other regions, the open IoT platform market in North America is expected to witness significant growth and hold the largest market share during the forecast period.
U.S and Canada are anticipated to drive the growth of open IoT platform market.
This is owing to the presence of large number of established key players and increasing popularity among the developer community in that region.
In addition to this, the region also has a well-established infrastructure and is expected to be a major factor for the growth of open IoT platform market.The open IoT platform market is growing rapidly over 25% of CAGR and is expected to reach at approx.
USD 4.3 Billion by the end of forecast period.Open IoT platform market can be segmented on the basis of component, deployment and end user.
