IoT Cloud Platform Market Size, Industry Trends, Drivers, Insights to 2029

The IoT Cloud Platform market is expected to witness a tremendous growth during the forecast period, owing to rise in adoption of cloud solutions among various enterprise. IoT Cloud Platform provides typical feature include device management, connectivity and network management, processing analysis, data acquisition, visualization, integration and storage.IoT Cloud Platform provide several benefits to organizations such as faster deployments, improved capital expenditures, and cost-effectiveness. Moreover, it provides greater amount of flexibility and efficiency within enterprises, which fuels the market growth.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Surge in demand for improved data usability and quality, faster deployment, and implementation of cloud-based solutions among enterprise are the major factors that drive growth of the market.In addition, rising number of IoT devices in various application areas fuel the market growth. However,data loss and privacy concerns hampers the market growth. Furthermore, the increasing penetration of connected devices is expected to provide lucrative opportunities for the global IoT cloud platform market.

Enormous amount of data generated by various technologies.

Technological advancements such as bigdata and machine learning generates enormous amount of data, which enhances organizations to adopt IoT cloud platform to store the data. IoT cloud platform helps to manage such data more efficiently. This factor, in turn, boosts the market growth.

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North America expected to lead the market:

North America is expected to have the largest market share during the forecast period, owing to widespread adoption of IoT cloud platforms by numerous industries in the U.S. and Canada. All major vendors of cloud-based platform are present in the region, which further fuels the market growth. In addition, small & medium sized organizations have adopted IoT cloud platform to streamline their business processes, which propels growth of the market in the region

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Leading market players are AWS, Microsoft, Google, Cisco Systems, IBM, Oracle, Salesforce.com, SAP, PTC, Samsung.

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