Global IoT Cloud Platform Market Estimated to Reach US$ 8.14 Bn by 2022, Due to Increasing Use of IoT devices in Healthcare Sector

Absolute Markets Insights offers its latest published report ‘IoT Cloud Platform Market by Type (Device Management, Connectivity Management, Application Enablement); by Application (Home Automation, Wearable Technology, Smart City, Industrial Automation, Connected Transportation, Healthcare, Smart Retail, Smart Agriculture, Connected Logistics, Others); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018 - 2026’. The author of the report analyzed that the Global IoT Cloud Platform Market accounted for US$ 2.42 billion in 2017. IoT enables the merging of several platforms utilizing internet as the backbone of communication system to establish a smart interaction between people and surrounding objects. Cloud, being a crucial component of IoT, offers many application specific services.

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IoT cloud platform is a platform offered by a service provider as a hosted service which enables the deployment of software applications without the cost and complexity of acquiring and managing the underlying hardware and software. The increasing use of IoT devices in healthcare sector is driving the market. The usage of a number of IoT healthcare devices, which include real time oximeter, smart watches, glucometer and pace-maker have risen significantly. The increased use of these devices is accelerating the growth of IoT cloud platform market. However, cases of confidential data leakage and lack of knowledge about these platforms has hampered the progress of this market.

Device Management Type is Likely to Dominate the IoT Cloud Platform Market
The device management type is dominating the market. Device management grants permissions, organizes devices into groups, monitors and troubleshoots device functionality, and send remote updates to devices. The rising adoption of IoT cloud platforms in small and medium businesses has led to an increased demand for the device management segment.

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The Region of North America is Dominating the IoT Cloud Platform Market Due to The Availability of Major Cloud Service Providers in The Region.
Major cloud service providers such as Amazon, Google, Fujitsu, Microsoft, IBM and others are located in North America. Their presence is keeping the region ahead of others in terms of technology and innovative offerings. The emergence of small and medium business has also facilitated the growth of IoT cloud platform market in this region.

Consolidated Market for IoT Cloud Platform with a Few Players Holding Majority Market Share
Some of the primary participants in global IoT cloud platform market are Amazon Web Services, Google Inc., International Business Machines Corporation (IBM), Microsoft Corporation, Salesforce.com Inc., General Electric, PTC, SAP SE, Telit, Scinan IoT, Samsung amongst others. In February 2018, Google Inc. released its Cloud IoT Core Platform, which is a fully managed service for connecting, managing and ingesting data from IoT devices. Once the data has been ingested, users can use Cloud IoT Core to push data to Google’s cloud databases, analytics tools, serverless platform and machine learning services.

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• IoT Cloud Platform Market – By Type
o Device Management
o Connectivity Management
o Application Enablement

• IoT Cloud Platform Market – By Application
o Home Automation
o Wearable Technology
o Smart City
o Industrial Automation
o Connected Transportation
o Healthcare
o Smart Retail
o Smart Agriculture
o Connected Logistics
o Others

• Market By Region
o North America
 U.S.
 Rest of North America
o Europe
 France
 The UK
 Spain
 Germany
 Italy
 Rest of Europe
o Asia Pacific
 China
 Japan
 India
 Southeast Asia
 Rest of Asia Pacific
o Middle East and Africa
 GCC Countries
 Southern Africa
 Rest of Middle East and Africa
o Latin America
 Brazil
 Rest of Latin America

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