IoT Cloud Platform Industry to Hit $ 7.15 Billion With 30.6% CAGR by 2021

The IoT cloud platform market size is estimated to grow from $1.88 billion in 2017 to $7.15 billion by 2021.

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The growth is attributed to the increasing adoption of smart devices by consumers all around the globe, which is increasing the demand for better network connectivity.

The various key IoT cloud platform vendors profiled in the report are as follows:
1. Amazon Web Service (Washington, U.S.)
2. Google (California, U.S.)
3. IBM Corporation (New York, U.S.)
4. Microsoft Corporation (Washington, U.S.)
5. Salesforce.com (California, U.S.)

However, lack of uniform IoT standards is restraining IoT cloud platform growth.
1. By Company Type: Tier-1 (35%), Tier-2 (40%), and Tier-3 (25%) companies
2. By Designation: C-level (40%), Director Level (30%), and others (30%)
3. By Region: North America (40%), Asia-Pacific (APAC) (25%), Europe (20%), and Rest of World (15%)

The drivers responsible for the growth of IoT cloud platform market in North America are stable economy, technological advancements, and newer infrastructure demands.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given below.

When breaking down the computational aspect of these tools, there are three basic functions: infrastructure as a service (IaaS), PaaS and software as a service (SaaS). This doesn’t even include all the security services you will need to have embedded in your cloud platform to protect it from intrusion.

IaaS is the connective tissue that keeps an IoT system together. This includes the provision processing, storage, networks and basic computational capabilities. In effect, it is what makes the deployment of PaaS, SaaS and other software possible.

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