IoT Cloud Platform Market to witness growth of USD 17 Bn in 2029 Technological Advancements, Growth Hubs, Data Security

December 07 01:35 2022
IoT Cloud Platform Market to witness growth of USD 17 Bn in 2029 Technological Advancements, Growth Hubs, Data Security
IoT Cloud Platform Market
IoT Cloud Platform Market size was valued at USD 6.91 Bn. in 2021 and the total revenue is expected to grow by 11.9% from 2022 to 2029, reaching nearly USD 17 Bn.

Pune, 06, Dec2022: The report analysed by Maximize Market Research, the global information technology and telecommunications market research firm. IoT Cloud Platform Market covers an extensive competitive and pricing analysis in the report. North America is expected dominate the market and witness significant growth according to the report. During the Forecast period, the report expects the market to grow from USD 6.91 Billion in 2021 to USD 17 Billion in 2029 at a CAGR of 11.9 percent.

IoT Cloud Platform Market Scope and Research Methodology

The report on IoT Cloud Platform Market provides concise and accurate data and analysis of the IoT Cloud Platform Market with current market highlights and industry trends. To get a better understanding of the dynamic market, the report covers the key insight such as market drivers, restraints, challenges and opportunities prevailing in the IoT Cloud Platform Market. Regional analysis of the market is conducted at local, regional and global levels for a better understanding of the market penetration, competitive structure, pricing and demand analysis. The report also covers the strategies followed by key players and gives their analysis on the basis of their growth in the last five years in the industry which helps investors and major companies formulate their investment and strategic business stance.

For grasping the underlying factors that affect the growth and the fall of the IoT Cloud Platform Market, a competitive analysis is presented. Key manufacturers in the market are profiled based on the revenue generated, region, financial status, portfolio, technological advancements adopted, mergers and acquisitions, joint ventures and strategic alliances. This helps clients to perceive their direct and indirect consumer base. It also aids clients to understand the new marketing tactics that are being played by their competitors, and new technological advances adopted by them.

For an in-depth analysis of the services being offered, a segment-wise analysis of the IoT Cloud Platform Market is conducted by material and application. Data is collected using both primary and secondary research methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. The report thus provides a comprehensive analysis of the IoT Cloud Platform Market.

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IoT Cloud Platform Market Overview

An IoT Cloud Platform is a mix of IoT and cloud computation that brings value to customers and businesses. It refers to the management, storage and automation of elements in a cloud infrastructure with the help of IoT. The increasing applications of IoT have resulted in the growth of cloud platforms. This is used in places where developing IoT infrastructure is not possible given the costs. In such a scenario, data is stored in cloud facilities reducing costs coupled with several other advantages.

IoT Cloud Platform Market Dynamics

The IoT Cloud Platform Market is expected to witness demand on account of the increasing adoption of cloud services by business sectors. Data mobility, cost-effectiveness and efficiency are some of the advantages offered by the platform. The fast-paced adoption of smart devices across the globe is also expected to increase the IoT Cloud Platform Market over the forecast period.

Demand for open IoT platforms has increased given the open sources that allow for public modifications. Such open-source IoT platforms are expected to witness growth over the forecast period. They also enable companies to get all site security tools under the IoT cloud platform, increasing efficiency. Technological advancements in the field with the incorporation of AI and ML are expected to increase efficiency and reduce costs significantly. Such developments in the IoT Cloud Platform Market are expected to fuel growth.

IoT Cloud Platform Market Regional Insights

Over the forecast period, North America is expected to dominate the IoT Cloud Platform Market. The main driver of the IoT Cloud Platform Market is the adoption of IoT Cloud Platform by an array of sectors and industries. For the region clustered with key players, research and technological advancements are expected to drive the IoT Cloud Platform Market regional growth.

IoT Cloud Platform Market Segmentation:

By Offering:

  • Platform
    • Device Management
    • Connectivity Management
    • Application Enablement
  • Service
    • Professional Services
    • Managed Services

By Deployment Mode: 

  • Public Cloud
  • Private Cloud
  • Hybrid

By Application Area:

  • Building and Home Automation
  • Smart Manufacturing
  • Smart Transportation
  • Connected Healthcare
  • Smart Retail
  • Smart Grid and Utilities
  • Others

IoT Cloud Platform Market Key Competitors include: 

  • AWS
  • Microsoft
  • Google
  • Cisco Systems
  • IBM
  • Oracle
  • Salesforce.com
  • SAP
  • PTC
  • Samsung
  • Bosch.IO
  • Autodesk
  • AT&T
  • Alibaba Cloud
  • Telit
  • Siemens
  • GE Digital
  • Ubidots
  • Zoho Corporation
  • Particle

Key questions answered in the IoT Cloud Platform Market are: 

  • What is IoT Cloud Platform? 
  • What is the current growth rate of the IoT Cloud Platform Market?  
  • What is the growth rate IoT Cloud Platform Market for the forecast period? 
  • What is the nature of competition in IoT Cloud Platform industry in developed and developing economies? 
  • Who are the key players in the IoT Cloud Platform Market?
  • Who are the market leaders in IoT Cloud Platform in Europe?
  • Who are the market leaders in IoT Cloud Platform in USA and Canada?
  • Who are the market leaders in IoT Cloud Platform in India, China, Japan and South Korea?
  • What are the factors affecting growth in the IoT Cloud Platform Market? 
  • Who held the largest market share in IoT Cloud Platform Market? 
  • What are the factors for the growth of Asia-Pacific region in IoT Cloud Platform Market?

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Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Offering, Deployment Mode, Application Area and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading information technology and telecommunications research firm, has also published the following reports:

5G IoT MarketThe 5G IoT Market size is expected to reach USD 208.23 billion by 2029 at a CAGR of 72.96 percent during the forecast period. The 5G IoT Market is expected to be driven by increasing demand in mobile broadband, the rising penetration of smartphones and smart wearable devices. 

Industrial IoT Market EuropeThe Industrial IoT Market Europe size is expected to reach USD 54.80 billion by 2029 at a CAGR of 10.7 percent during the forecast period. The Industrial IoT Market Europe is expected to be driven by technological advancements and the affordability of the technology.

Air Quality Monitoring System MarketThe Air Quality Monitoring System Market size is expected to reach USD 7.61 billion by 2029 at a CAGR of 6.5 percent during the forecast period. The Air Quality Monitoring System Market is expected to be driven by growing population in smart cities resulting in pollution and constant research and development in the industry. 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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