Unfolding: Here’s what is happening in IoT in Cloud Platform Market
As per new study conducted by Research Dive, the global IoT in cloud platform market is anticipated to generate a revenue of $14.0 billion by the end of 2027 and is expected to rise at a noteworthy rate throughout the forecast years 2019 to 2027.
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The global market is classified into deployment mode, enterprise size, application, end user and region. This study offers complete insights about drivers, opportunities, restraints, segmental analysis and major market players in the global market.
Factors affecting the market growth
As per our analysts, rapid growth in the penetration of internet services and swift from on-premises data systems to cloud based systems are the major driving factor for the growth of the market. However, absence of skilled workforce and lack of standardization of IoT products are major restraints for the IoT in cloud platform market growth.
Public deployment mode and large enterprise segments are held the global market size in 2019
By deployment mode, the global market has been categorized into private, hybrid and public. Among these, public deployment mode accounted for highest IoT in cloud platform market size in 2019 and is estimated to remain its growth at a significant rate throughout the projected time. Wide utilization of public cloud systems majorly owing to its flexibility, ease of deployment, cost effective and most efficient platform. Also, governments are increasing investments to improve public cloud infrastructure is estimated to drive the market growth in the coming years.
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By enterprise size, the global market has been segmented into large enterprise and small & medium enterprise. In both of these, large enterprise segment generated for evident revenue share in the previous years and is estimated to grow at a moderate in the forecast years. This growth is attributed to early adoption of IoT cloud systems by large enterprises to improve work efficiencies and provide better customer services.
Home automation application and Healthcare end user segments will grow at a notable rate in the forecast time
Based on application, the global market is classified into home automation, database management, device management, analytics, wearable technology and processing. In these, the IoT in cloud platform market for home automation application will experience a remarkable growth and is estimated to grow at a faster rate throughout the forecast period. Growing trend for smart city and smart homes across the globe to improve home security and increasing disposal income of individuals. These are major favorable factors for rising demand for IoT in cloud platforms in home automation application, which is anticipated to drive the market growth in the coming years.
Based on end user, the global market has been categorized into smart city & home, healthcare, manufacturing, retail & e-commerce, and others. Among these, healthcare end user will witness to grow at a notable rate in the forecast period and is anticipated to produce dominating market share by the end of the forecast years. Growing demand for efficient platform to maintain communication between devices enables in hospitals and clinics to update their customer service, real time patient information and many other application. This factor is predicted to accelerate the growth of the market in the forecast years.
IoT in cloud platform market, Regional analysis
North America region has dominated the global IoT in cloud platform market share in the previous years and is expected to continue its command over the global market size in the forecast time. This dominance is majorly attributed to early adoption of emerging technologies such as cloud systems, IoT, AI and many other technologies due to presence of well-developed infrastructure. Besides North America, Asia-Pacific region is expected to grow at a faster rate in the forecast years and is predicted to generate enormous investment opportunities in the global market throughout the forecast period. Rapid growth in the penetration of higher speed internet services along with favorable government initiatives to support innovations in the technology sector are estimated to boost the market growth in the forecast years.
IoT in cloud platform market, Significant market players
The significant market players in the global IoT in cloud platform market include Microsoft Co., Cisco Systems, Inc., Oracle Co., SAP SE, Autodesk Inc., Siemens, Google LLC, AT&T, Salesforce.com Inc. and PTC Inc.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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