According to the report the global IoT cloud platform market reached a value of USD 11.60 billion in 2022. Aided by the growing adoption of IoT-enabled devices and the rising applications of IoT cloud platforms in a myriad of industries, the market is projected to further grow at a CAGR of 11.4% between 2023 and 2028 to reach a value of USD 22.73 billion by 2028.
An IoT cloud platform, also known as Cloud IoT services, provides the infrastructure necessary to interconnect and manage IoT devices, facilitating data storage, processing, and analysis. It plays an essential role in enabling real-time remote monitoring, device management, and overall operational efficiency. Beyond its connectivity capabilities, the IoT cloud platform offers significant advantages in data scalability, cost-effectiveness, and security, making it a valuable tool in various industries, including automotive, healthcare, retail, and manufacturing.
The growing consumer and industrial adoption of IoT-enabled devices is a significant driver of the global IoT cloud platform market growth. With the escalating recognition of the efficiency and convenience associated with smart devices, there has been a substantial shift towards IoT integration, leading to an increase in demand for IoT cloud platforms. Moreover, the trend towards digital transformation and automation across various industries has further bolstered the relevance of IoT cloud platforms, a critical element in facilitating IoT functionalities.
The expanding applications of IoT cloud platforms in various industries play a pivotal role in accelerating the IoT cloud platform market development. In the automotive industry, IoT cloud platforms enable real-time vehicle tracking, predictive maintenance, and smart connectivity, transforming the driving experience. The healthcare sector leverages IoT cloud platforms for remote patient monitoring, telemedicine, and smart healthcare solutions. Retail businesses use IoT cloud platforms to optimise supply chain management, customer experience, and inventory control, while manufacturers deploy these platforms to facilitate industrial automation, predictive maintenance, and process optimisation.
Moreover, the increasing demand for data management solutions in the wake of the data explosion caused by IoT proliferation has placed the IoT cloud platform at the centre of attention. With the rise of big data and the growing need for efficient data processing and analytics, IoT cloud platforms have emerged as a critical solution, thus propelling IoT cloud platform market expansion.
From a technological standpoint, advancements in cloud computing, artificial intelligence (AI), and machine learning (ML) have significantly amplified the capabilities of IoT cloud platforms. These cutting-edge technologies not only enhance data processing and analysis but also introduce sophisticated features like AI-based predictive analytics and automated decision-making, thus further fuelling IoT cloud platform market growth.
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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
An IoT cloud platform, also known as Cloud IoT services, provides the infrastructure necessary to interconnect and manage IoT devices, facilitating data storage, processing, and analysis. It plays an essential role in enabling real-time remote monitoring, device management, and overall operational efficiency. Beyond its connectivity capabilities, the IoT cloud platform offers significant advantages in data scalability, cost-effectiveness, and security, making it a valuable tool in various industries, including automotive, healthcare, retail, and manufacturing.
The growing consumer and industrial adoption of IoT-enabled devices is a significant driver of the global IoT cloud platform market growth. With the escalating recognition of the efficiency and convenience associated with smart devices, there has been a substantial shift towards IoT integration, leading to an increase in demand for IoT cloud platforms. Moreover, the trend towards digital transformation and automation across various industries has further bolstered the relevance of IoT cloud platforms, a critical element in facilitating IoT functionalities.
The expanding applications of IoT cloud platforms in various industries play a pivotal role in accelerating the IoT cloud platform market development. In the automotive industry, IoT cloud platforms enable real-time vehicle tracking, predictive maintenance, and smart connectivity, transforming the driving experience. The healthcare sector leverages IoT cloud platforms for remote patient monitoring, telemedicine, and smart healthcare solutions. Retail businesses use IoT cloud platforms to optimise supply chain management, customer experience, and inventory control, while manufacturers deploy these platforms to facilitate industrial automation, predictive maintenance, and process optimisation.
Moreover, the increasing demand for data management solutions in the wake of the data explosion caused by IoT proliferation has placed the IoT cloud platform at the centre of attention. With the rise of big data and the growing need for efficient data processing and analytics, IoT cloud platforms have emerged as a critical solution, thus propelling IoT cloud platform market expansion.
From a technological standpoint, advancements in cloud computing, artificial intelligence (AI), and machine learning (ML) have significantly amplified the capabilities of IoT cloud platforms. These cutting-edge technologies not only enhance data processing and analysis but also introduce sophisticated features like AI-based predictive analytics and automated decision-making, thus further fuelling IoT cloud platform market growth.
Market Segmentation
The market can be divided based on offering, deployment mode, organisation size, application, application, and region.Market Breakup by Offering
Platform
- Device Management
- Analytics
- Connectivity and Communication
Services
- Professional Services
- Managed Services
Market Breakup by Deployment Mode
- Private
- Commercial
- Hybrid
Market Breakup by Organisation Size
- Small and Medium-Sized Organisations
- Large Size Organisations
Market breakup by Application
- Smart Infrastructure
- Automotive
- Industrial Automation and Smart Manufacturing
- Healthcare
- Retail and E-commerce
- BFSI
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global IoT cloud platform companies. Some of the major key players explored in the report are as follows:- Microsoft Corporation
- Amazon Web Services, Inc.
- Alphabet Inc. (Google LLC)
- IBM Corporation
- Oracle Corporation
- Bosch.IO GmbH
- Cisco Systems, Inc.
- General Electric Company
- Siemens AG
- PTC Inc.
- Particle Industries, Inc.
- Telit Corporate Group
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IoT Cloud Platform Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT Cloud Platform Historical Market (2018-2022)
8.3 Global IoT Cloud Platform Market Forecast (2023-2028)
8.4 Global IoT Cloud Platform Market by Offering
8.4.1 Platform
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Breakup by Type
8.4.1.3.1 Device Management
8.4.1.3.2 Analytics
8.4.1.3.3 Connectivity & Communication
8.4.2 Services
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 Breakup by Type
8.4.2.3.1 Professional Services
8.4.2.3.2 Managed Services
8.5 Global IoT Cloud Platform Market by Deployment Mode
8.5.1 Private
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Commercial
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Hybrid
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.6 Global IoT Cloud Platform Market by Organisation Size
8.6.1 Small and Medium-Sized Organizations
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Large Size Organizations
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global IoT Cloud Platform Market by Application
8.7.1 Smart Infrastructure
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Automotive
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Industrial Automation and Smart Manufacturing
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Healthcare
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Retail and E-commerce
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.7.6 BFSI
8.7.6.1 Historical Trend (2018-2022)
8.7.6.2 Forecast Trend (2023-2028)
8.7.7 Others
8.8 Global IoT Cloud Platform Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America IoT Cloud Platform Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe IoT Cloud Platform Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific IoT Cloud Platform Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America IoT Cloud Platform Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa IoT Cloud Platform Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Microsoft Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Amazon Web Services, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Alphabet Inc. (Google LLC)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 IBM Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Oracle Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Bosch.IO GmbH
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Cisco Systems, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 General Electric Company
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Siemens AG
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 PTC Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Particle Industries, Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Telit Corporate Group
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Key Trends and Developments in the Market
Companies Mentioned
- Microsoft Corporation
- Amazon Web Services, Inc.
- Alphabet Inc. (Google LLC)
- IBM Corporation
- Oracle Corporation
- Bosch.IO GmbH
- Cisco Systems, Inc.
- General Electric Company
- Siemens AG
- PTC Inc.
- Particle Industries, Inc.
- Telit Corporate Group
Methodology
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