Industry Background:
The rising number of IoT devices in various application areas will help to boost the global IoT Cloud Platforms market in the forecasted period. An IoT platform works on a multi-layer technology that manages, processes, and transfers the information to and from connected devices with the help of the Internet. Millions of wearable devices have been deployed across the globe during the COVID-19 pandemic outbreak for various applications such as healthcare, environmental monitoring, work-from-home infrastructure, VPN networking, and collaboration tools. IoT cloud platforms play a crucial role in connecting these devices to the internet. Thus, the IoT cloud platform market has a positive impact across the world.
According to AMA, the market for IoT Cloud Platforms is expected to register a CAGR of 12.6% during the forecast period to 2026. This growth is primarily driven by The rising adoption of intelligent and connected devices and the increased operational efficiency are some of the vital aspects and Growth in the adoption of a work-from-home policy.
Globally, a noticeable market trend is evident The cost-effective and the easy deployment cloud data storage and the evolution of high-speed networking technologies
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as AWS (United States), Microsoft (United States), Google (United States), Cisco Systems (United States), IBM (United States), Oracle (United States), Salesforce.com (United States), SAP (Germany), PTC (United States) and Samsung (South Korea) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 24th February 2020, Microsoft Azure Security Center for IoT extended the support for Azure Real-Time Operating System (RTOS), in addition to Linux (Ubuntu, Debian), and Windows 10 IoT Core Operating Systems
On 6th January 2020, AWS partnered with BlackBerry, to develop a safe, secure, and intelligent connected vehicle software platform for in-vehicle applications.
Market Drivers
- The rising adoption of intelligent and connected devices and the increased operational efficiency are some of the vital aspects
- Growth in the adoption of a work-from-home policy
Market Trend
- The cost-effective and the easy deployment cloud data storage and the evolution of high-speed networking technologies
- Increasing adoption of wearables
Restraints
- The absence of IoT technology skills and the absence of uniform IoT standards
Opportunities
Upsurging demand for telemedicine and Drones for enforcement of compliance
Challenges
The lack of privacy, data security, data management
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, IoT Cloud Platforms Study Sheds Light on
The IoT Cloud Platforms Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the IoT Cloud Platforms industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where IoT Cloud Platforms industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.