IoT Cloud Platform Market Share, Trends, Business Strategy and Forecast

IoT cloud platform market categorizes the global market by platform, by deployment model, by application area, by organization size, by service, and by region.

(EMAILWIRE.COM, March 25, 2019 ) The integration of IoT cloud platform helps enterprises’ IT infrastructure to monitor, analyse, and control the main network connectivity. Platforms such as device management and connectivity management have high global acceptance in the IT industry; however, the emerging application enablement platform is expected to witness high growth rate. The global IoT cloud platform market is expected to grow significantly during the forecast period.

The Internet of Things IoT cloud platform market is estimated to grow USD 7.15 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 30.6%

The major drivers of this market include increasing adoption of connected/intelligent devices, increased operational efficiency of organizations, and evolution of high-speed networking technologies. Furthermore, the rising adoption of IoT enabled applications in SMBs provides huge opportunities for IoT platform vendors, service providers, application providers, and consulting companies.

The IoT cloud platform market ecosystem comprises IoT cloud platform providers of platforms such as AWS Group (U.S.), Google (U.S.), IBM Corporation (U.S.), and Microsoft Corporation (U.S.), and service providers such as PTC (U.S.) and IBM Corporation (U.S.) that maintain and update the entire software system and sell them to end users to cater to their unique business requirements.

North America is expected to hold the largest market share and dominate the IoT cloud platform market from 2016 to 2021. The main drivers responsible for the growth of IoT cloud platform in North America are the technological advancements, presence of top IoT players, and advanced infrastructure. The IoT cloud platform market in APAC and Middle East & Africa (MEA) is expected to witness high growth due to the presence of increasing smart city projects and a large number of manufacturing, industrial automation, and retail establishments

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=195182