November 25, 2020

Internet of Things Cloud Platform Market- Future Outlook Remains Positive and Expected to Reach USD 8.6 Billion by 2023

As per the analysis by Market Research Future Reports, the global Internet of Things Cloud Platform market is estimated to value USD 8.67 Billion with a CAGR of 31.2% by 2023. The historical information about the market is used to provide studied forecasts about the market’s likely growth trajectory over the forecast period.

Adoption of IoT in different sectors such as healthcare, transportation, industrial, and others is estimated to enhance the Internet of Things Cloud Platform market during the forecast period. Furthermore, the development of technology has resulted into the increasing adoption of smart devices which will intensify the market.

Key Players:

The most significant players of the global Internet of Things cloud platform market are Telit, IBM Corporation, Google, Microsoft Corporation, Ayla Network, AWS Group, Artik Cloud, AT&T, Hauwei Technologies, Cisco system,, GE, SAP SE among others.

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Market Segmentation:

Based on deployment:

·         Public

·         Hybrid

·         Private

Based on the platform:

·         Connectivity management

·         Application enablement

·         Device management

Based on service

·         Professional services

·         Managed services

Based on vertical

·         Retail

·         Healthcare

·         Finance

·         Hospitality

·         Government

·         Automotive & transportation

·         consumer electronics

·         Industrial manufacturing

·         Media & entertainment

·         Education

Based on organization

·         Small and medium enterprise and large enterprise

Regional Analysis:

The geographical analysis of Europe, Asia-Pacific, North America, and the Rest of the World (RoW) has been conducted. As per the analysis, North America is leading the global IoT cloud platform market during the review period. The APAC region is estimated to acquire the maximum CAGR during the review period. The US is the biggest contributor of region. Significant research and development on IoT, proliferation of IoT-enabled devices are some of the reasons driving the regional market.


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