IoT cloud Market Size Report Predicts Healthy Growth with Demand & Forecasts by 2024-2031

The Global IoT cloud Market is expected to grow at a significant CAGR during the forecast period. IoT cloud platforms integrate the capabilities of IoT devices and cloud computing, which are offered as a service over an end-to-end platform. The Internet of Things cloud is a comprehensive collection of technologies for processing, connecting, storing, and analysing data both in the cloud and at the edge. The IoT cloud platform is made up of edge on-premises computing software with machine learning capabilities. The Internet of Things cloud platform is a fully managed cloud service. The platform is critical in handling all IoT and cloud operations-related tasks, such as data collection from IoT-enabled devices, data storage, and data analysis to get real-time insights. The platform is critical in handling all IoT and cloud operations-related tasks, such as data collection from IoT-enabled devices, data storage, and data analysis to get real-time insights.

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The rising rate of smart device adoption is a key driver, and as a result, the global market for IoT cloud platforms is expected to develop rapidly. Furthermore, the ease of deployment and low cost of cloud data storage are expected to boost the growth of the overall IoT cloud platform market. The rising need for system integrators is anticipated to boost the IoT cloud platform market forward. One of the key factors driving the growth of the IoT cloud platform market is the increasing number of IoT devices in various application sectors.

In February 2020, Microsoft Azure Security Centre for IoT, expanded support for Azure Real-Time Operating System (RTOS) in addition to Linux (Ubuntu, Debian) and Windows 10 IoT Core Operating Systems. In January 2020, AWS collaborated with BlackBerry to create a safe, secure, and intelligent connected car software platform for in-vehicle apps.

The Global IoT cloud Market Segmentation

By Offering

o Platform
o Device Management
o Connectivity Management
o Application Enablement
o Service
o Professional Services
o Training and Consulting
o Integration and Deployment
o Support and Maintenance
o Managed Services

By Deployment Type

o Public Cloud
o Private Cloud
o Hybrid

By Organization Size

o SMEs
o Large Enterprises

By Application

o Building and Home Automation
o Smart Manufacturing
o Smart Transportation
o Connected Healthcare
o Smart Retail
o Smart Grid and Utilities
o Others (Smart Education, Smart Agriculture, Smart Hospitality, Connected Banking, telecom, and Security and Emergency).

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IoT cloud Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Amazon Web Services, Inc.
• Microsoft Corporation
• Google LLC
• Cisco Systems, Inc.
• IBM Corporation
• Oracle Corporation

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